Big Law's Pay War Is Dangerous Game for Firms Posing as 'Elite'

Mar 8, 2022 · Pay scale has ratcheted up three times this year amid talent war. An ongoing pay war is making lawyers at some of the top firms in the world more money than ever before. It’s …

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From Manhattan To Minneapolis, Ripples Spread From Big Law Raises

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Sep 16, 2021 · Law Firms. Robins Kaplan is boosting starting associate pay from $140,000 to $180,000. The rise of remote work has Midwest firms competing more directly with New York …

reuters.com

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Why Big Law Will Keep Getting Bigger In The 2020s - The Economist

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Jan 1, 2022 · Big law is on a tear. The 100 biggest global firms look on track handily to surpass their combined revenues of $128bn in 2020 (see chart). Kirkland & Ellis, an American giant …

economist.com

FAQs about Big Law's Pay War Is Dangerous Game for Firms Posing as 'Elite' Coupon?

Is Paul Weiss on a deals lawyer hiring tear?

Paul Weiss is on a deals lawyer hiring tear as the price tag soars for top partners at elite firms. The firm has poached more than 20 mergers and acquisitions and private equity partners in the last year. The hires—mostly in London and New York—come from leading UK firms and US rivals, including Kirkland & Ellis and Latham & Watkins. ...

Who are big law's top deals advisers?

The firm lagged behind Big Law’s top deals advisers last year, during a slow stretch for transactions. Kirkland & Ellis topped the charts, working on nearly $343 billion worth of M&A deals. ...

Why did Paul Weiss join a new tier of non-Equity Partners?

Paul Weiss in the last year also joined the growing wave of firms installing a new tier of non-equity partners to boost profits. The move allows firms to keep more senior attorneys without having to give them a share of profits. Other Big Law firms in recent months have followed that playbook. ...

Is big law becoming more concentrated?

Big law is becoming not just bigger but also more concentrated. In 2020 the three biggest earners accounted for nearly 10% of the gross billings at the top 100 global firms, up from 8% five years earlier. A handful of superstar firms like Kirkland & Ellis or Dentons may increasingly dominate the league tables. ...

Do law firms pay $20 million a year?

One hiring partner at a law firm said $20 million pay packages were usually reserved for those who could bring in more than $100 million in annual revenue for a firm. Sabina Lippman, partner and co-founder of Lippman Jungers, a recruiting firm, said some law firms paid $20 million a year or more to lure the highest-profile lawyers. ...

How much do Freshfields lawyers get paid?

Freshfields — a big British firm that is building a beachhead in the United States — has recruited lawyers in the range of $10 million to $15 million, and provided additional pay guarantees to some, according to three people with direct knowledge of the compensation details. ...