Lawyer Pay

This BigLaw firm charges nearly $2,500 per hour for top billers’ bankruptcy work

Kirkland & Ellis is raising its top billing rate for bankruptcy work to $2,465 per hour by Jan. 1, according to court filings cited by Reuters.

Dec 19, 2023 9:39 AM CST

Most law firms announcing pay hikes are in this select high-profit club

More than 50 law firms have announced increases in associate pay since Cravath, Swaine & Moore set the standard by increasing salaries by $10,000 to $20,000.

Dec 14, 2023 8:43 AM CST

Shearman partners approved pension cuts before merger; unfunded obligation said to be cut by 50%

Shearman & Sterling has approved cuts to its pension program before the successful vote to merge with Allen & Overy, according to reporting by Law.com.

Dec 11, 2023 10:21 AM CST

Not to be outdone, first-mover Milbank increases its raises for some associates

Milbank, the first BigLaw firm to announce associate pay hikes this year, is making some adjustments after BigLaw embraced a more generous pay scale.

Dec 6, 2023 11:20 AM CST

Associate pay hikes gather steam after Cravath announcement; which law firms have matched?

Associates at several BigLaw firms are getting pay hikes, thanks to an announcement Tuesday by Cravath, Swaine & Moore.

Nov 30, 2023 2:23 PM CST

Cravath finally announces associate raises, and they partly surpass Milbank scale

It took three weeks of waiting after Milbank announced bonuses and raises for associates. But now, Cravath, Swaine & Moore has stepped into the BigLaw breach with its announcement.

Nov 28, 2023 4:09 PM CST

Boutique law firm will pay bigger-than-BigLaw bonuses; what will Cravath do?

Boutique law firm Wilkinson Stekloff in Washington, D.C., is surpassing the bonus scale announced by Milbank on Nov. 7.

Nov 21, 2023 12:39 PM CST

Layoffs unlikely as law firms see increased revenue from rate hikes, Wells Fargo official says

Law firm revenue increased 4.6% through the third quarter of the year, thanks to a hike in billing rates, according to a survey of more that 120 firms by Wells Fargo’s Legal Specialty Group.

Nov 17, 2023 11:57 AM CST

Why Cravath has joined ‘two-tier partner wave’

Cravath, Swaine & Moore has “quietly created” a new partnership tier for nonequity partners who are paid salaries and don’t share in the profits, Bloomberg Law reports.

Nov 8, 2023 11:19 AM CST

In ‘a bold move,’ Milbank announces associates will get raises along with bonuses

Milbank announced Tuesday that it is matching last year’s year-end bonuses while also giving annual raises of $10,000 to its associates beginning Jan. 1.

Nov 7, 2023 3:49 PM CST

Full BigLaw associate bonuses may not be for everybody

Large law firms will likely continue to pay annual associate bonuses ranging from $20,000 to $115,000 this year, the going rate since 2021.

Oct 31, 2023 9:26 AM CDT

Law prof pay has dropped 24% in real dollars this decade

Average law professor pay has decreased 24% in real terms from 2013 to 2022, according to a law professor’s analysis of data from the U.S. Bureau of Labor Statistics.

Oct 26, 2023 2:23 PM CDT

Race, ethnicity, parents’ education level produce differing job outcomes for class of 2022 law grads

Nikia Gray, the executive director of the National Association for Law Placement, is asking legal employers to “stand firm” on their commitment to diversity, equity and inclusion after the release of data showing that minorities from the class of 2022 fare worse in employment numbers.

Oct 17, 2023 3:30 PM CDT

Quinn Emanuel announces special fall bonuses after ‘fabulous year’

Associates at Quinn Emanuel Urquhart & Sullivan will be paid special fall bonuses ranging from $2,120 to $32,908.

Oct 16, 2023 10:22 AM CDT

David Boies’ high hourly fees pale in comparison to request by lawyers suing Tesla

High-profile lawyer David Boies charges $2,110 per hour, putting him “in a still-rarified realm of attorneys who charge upwards of $2,000 an hour,” according to Reuters.

Sep 21, 2023 9:42 AM CDT