Obama Lawyer Nominees Giving Up Millions in Big-Firm Pay
Attorney General nominee Eric Holder earned the highest big-firm salary last year out of four lawyers nominated to posts in the Obama administration.
Disclosure forms show Holder made $3.3 million in salary and deferred compensation at Covington & Burling last year, the Am Law Daily reports, with a hat tip to Politico. He will also receive between $1 million and $5 million as part of his separation agreement with the firm and a capital payout of between $500,000 and $1 million.
That tops these nominees, according to the Am Law Daily’s figures:
• Jeh Johnson, nominated to be the Pentagon’s top lawyer. He made $2.6 million last year at Paul, Weiss, Rifkind, Wharton & Garrison. He will also get severance of between $1 million and $5 million and a capital payout of $200,000.
• Ronald Kirk, nominated for U.S. trade representative. He made about $557,000 last year from Vinson & Elkins. He will also get a $150,000 bonus and accrued benefits, including an $80,000 outstanding partnership share.
• Tom Vilsack, the former Iowa governor nominated for agriculture secretary. He made $300,000 last year at Dorsey & Whitney.
