Will Biglaw Associates Regret Their Raises Once The Market Cools Down?
Eek... the future may not be as bright as it seems.
[It’s a] Faustian bargain. Once demand from clients comes down, some of the less productive associates may find they’re too expensive and they will need to start looking around.
— Bruce MacEwen, president of law firm consultancy Adam Smith, Esq., commenting on the troubling future that some associates may see as a result of the latest round of Biglaw raises. Davis Polk’s new salary scale ranges from $215,000 to $396,500, and if the legal industry begins to suffer, highly compensated associates without work may be some of the first to find themselves without jobs.
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.
