In the latest signpost pointing the way toward a possible sea change in associate compensation, the managing partner of a 300-attorney Texas-based law firm says it’s time to cut the…
Contract lawyers are seeing a drop in hourly pay as more laid-off colleagues join their ranks, but there may be a silver lining in the economic downturn for those who…
In the latest announcement of yet another BigLaw firm delaying the start date for incoming first-year associates, Morrison & Foerster has pushed it back from November 2009 to April 2010…
In an innovative approach to the problem of too many lawyers and too little work, Stroock & Stroock & Lavan is offering multiple deferral options to its incoming class of…
In 1985, New York’s Cahill Gordon & Reindel was No. 35 on American Lawyer’s first list of the nation’s top-grossing law firms. In 2008, an 11.8 percent drop in gross…
Implementing a restructuring plan announced earlier this year to deal with the dismal economy, Allen & Overy laid off about 250 lawyers and 200 staff today.
Too many lawyers are chasing too little work. And meanwhile a number of law firms are effectively serving as bankers for cash-strapped clients struggling in a difficult economy.
Partners at the nation’s top 100 law firms began feeling the pinch last year, earning lower profits, on average, even as their law firms saw increased revenues.
After nearly 50 years at the Boston Redevelopment Authority, many of them in leadership positions, attorney Paul McCann has a pension of nearly $100,000 a year.
Nixon Peabody has cut the starting salary for incoming first-year associates to $145,000 in “major financial centers” that reportedly include Boston, Chicago, New York, Washington, D.C. and offices in California.
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