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Wow, That's A Lot Of Money! M&A Or NBA?

Comparible pay, much easier on the knees!

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978549Lawyers know that some of their colleagues are raking in the big bucks. Partners in high demand are looking at compensation deals upwards of $20M at the least. But just hearing the numbers can numb you to how much money somebody is making — after a while, it just feels like the Dr. Evil ransom scene. When that happens, metaphors and comparison make understanding an easy layup. No, seriously: these people are making cash like NBA stars. From the New York Times:

Eight-figure pay packages — rare a decade ago — are increasingly common for corporate lawyers at the top of their game, and many of these new heavy hitters have one thing in common: private equity.

In recent years, highly profitable private equity giants like Apollo, Blackstone and KKR have moved beyond company buyouts into real estate, private lending, insurance and other businesses, amassing trillions of dollars in assets. As their demand for legal services has skyrocketed, they have become big revenue drivers for law firms.

Before we get too carried away, you’d probably want to take LeBron James’s ~$57M a year deal over O. Keith Hallam III’s alleged ~$14M, but Bronny James can take comfort in knowing that if his ~$2M contract over the next four years doesn’t work out, he may have a future in litigation.

Pay for Lawyers Is So High People Are Comparing It to the N.B.A. [New York Times]

Chris Williams became a social media manager and assistant editor for Above the Law in June 2021. Prior to joining the staff, he moonlighted as a minor Memelord™ in the Facebook group Law School Memes for Edgy T14s.  He endured Missouri long enough to graduate from Washington University in St. Louis School of Law. He is a former boatbuilder who cannot swim, a published author on critical race theory, philosophy, and humor, and has a love for cycling that occasionally annoys his peers. You can reach him by email at [email protected] and by tweet at @WritesForRent.

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