8 months have passed since Cravath kicked off the Summer of MoneyLaw. In the aftermath of this first Biglaw compensation bump in a decade, there has been plenty of speculation on how this new “market” rate will ultimately affect the firms. Will firms pass the cost to clients via higher rates? Will there be further and deeper cut to expenses (and people)? Or will the partnerships simply accept these raises as a necessary and fair redistribution of wealth? (LOL.)
There has been less said on whether or how the raises have affected the workaday reality of the associates themselves. Have associate workloads increased along with their paychecks? If so, do the associates feel the higher demands on them are warranted? In partnership with our friends at Major Lindsey & Africa, we want to understand the impact of the raises.
Associates, please take 2-3 minutes and share your thoughts concerning the Aftermath of MoneyLaw. Thanks!
(If you have not yet done so, please take our earlier (very brief) surveys on Millennial lawyers’ Priorities and Goals.)