ABA Journal

Lawyer Pay

1296 ABA Journal Lawyer Pay articles.

BigLaw partner’s hourly billing rate of nearly $2,500 draws objection from bankruptcy trustee

A U.S. bankruptcy trustee is objecting to the hiring of a Hogan Lovells partner who would charge nearly $2,500 per hour to handle appeals in the Chapter 11 case of a Johnson & Johnson subsidiary.

Law firm profitability ‘dropped markedly’ in first quarter amid 12% hike in associate compensation

Law firm profitability decreased in the first quarter of the year, as direct expenses increased 13.1% and overhead increased 9.9% from the same period last year, according to the Thomson Reuters Law Firm Financial Index.

Panel attorneys who represent children, indigent adults in New York courts flee low pay

Panel attorneys who represent children and indigent adults in New York family and criminal courts haven’t had a fee hike in almost two decades.

What factors drive attorney turnover? Compensation isn’t the only issue, new report says

Compensation may be the proximate cause that entices associates to leave their law firms, but “the root cause may run deeper,” according to a report released Thursday.

With some partners earning as much as $20M, older lawyers may consider retirement

A surge in law firm profits may be spurring some law firm partners to consider retirement. Some partners at large law firms are earning eight figures. At one BigLaw firm, some partners earned $20 million last year.

Surpassed as associate pay leader, Davis Polk matches Cravath as other firms join in

For nearly a week and a half, Davis Polk & Wardwell set the scale for associate pay when it announced that it was paying $215,000 to $396,500 to associates.

After Davis Polk sets new bar for associate raises, Cravath ups the ante

Updated: All eyes were on Cravath, Swaine & Moore after Davis Polk & Wardwell announced associate raises last week that set a new, higher standard.

Davis Polk finally announces its associate pay scale; ‘this is not a Milbank match’

Updated: Davis Polk & Wardwell has finally announced its new associate pay scale, and it is more generous than the standard set by Milbank last month, at least for more experienced associates.

Boies Schiller’s block billing cited as obstacle to Nike’s fee request in Avenatti extortion case

Nike can recover about $260,000 out of about $856,000 in legal fees paid to Boies Schiller Flexner for helping New York federal prosecutors bring charges against lawyer Michael Avenatti, a federal judge has ruled.

What will Cravath and Davis Polk do? Many law firms await more news on salary hikes

Milbank’s pay hikes for associates have yet to gain widespread acceptance in BigLaw.

Will fewer BigLaw firms match Milbank’s new pay hike for associates? At least 10 firms are on board

Several BigLaw firms have matched Milbank’s new higher pay scale for associates, but there could be some that are unable to keep up, according to legal consultants who spoke with Reuters.

Milbank smashes the associate pay scale with yet another raise

Editor’s Note: Looking for These 2 judges are considered front-runners to replace Breyer; who else is getting mentioned? We apologize for the newsletter link snafu.

Updated: Milbank announced Thursday…

In US News’ 100 Best Jobs of 2022 list, how does being a lawyer stack up?

Being a lawyer is a better job than being a speech-language pathologist but not quite as good as being a statistician.

Law firms came ‘dangerously close’ to losing almost a quarter of their associates in 2021, new report says

Law firms “are spending huge amounts of money and putting their profits at increasing risk” as they battle to hold on to their associates, according to a report released Tuesday.

As a slew of BigLaw firms match bonuses, some boutique firms join the pack

Some boutique law firms are matching or even surpassing BigLaw’s year-end associate bonus scale of up to $115,000 for the most senior associates.

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