Associates Better Be Ready For Biglaw Firms To 'Throw More Money' At Them
All of this money madness won't be stopping anytime soon.
Some firms are responding to the pressure by opening offices in places like Salt Lake, Austin, and others and staffing them as production offices with lots of associates. Others are letting attorneys work from anywhere to try to attract more high quality people outside of the cities where they have offices. Others are creating more interesting career experiences and paths for associates. And then there’s money. We are about to see a lot of firms throw more money at associates.
To sum it up, this is driven by supply and demand. Demand for excellent associates is outstripping supply, raising prices. That will continue until an equilibrium is reached. That will likely happen when the economy cools and deal flow slows.
— Kent Zimmermann, a partner at legal consultancy Zeughauser Group, offering his thoughts on how the latest round of salary raises that were announced by Milbank came to be. Wait and watch along with us as the Biglaw salary scale begins to rise once again.
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.
