Biglaw Firms That Are Paying Below Market Thanks To COVID Cuts And Bonus Denials May Be Sorry
Get ready to say bye-bye to your best.
It’s hard to continue holding money back from people who were expecting it originally. Also, the environment for sought-after lawyers has never been more competitive than it is now. … It’s hard to hold on to your best people if you’re paying below market.
— Kent Zimmermann, a law firm management consultant at Zeughauser Group, commenting on the recent wave of law firms that have either rolled back their COVID-19 austerity measures or handed out bonuses to associates, mentioning that competition could play a role in why these things have occurred.
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.
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