Sullivan & Cromwell has sought about $200 million as debtor’s counsel in the bankruptcy of cryptocurrency exchange FTX based on more than 168,000 hours clocked by lawyers and staffers.
Student debt is still taking a big bite out of lawyer earnings four years after law school graduation, especially at law schools with the lowest return on investment, according to a study by Georgetown University’s Center on Education and the Workforce.
Is the summer-bonus bandwagon for associates getting revved up? Law firms in California, Texas and New York have announced summer bonuses collectively ranging from $2,500 to $30,000.
Hughes Hubbard & Reed pays new associates a top salary of $235,000, which is $10,000 above the going rate at many top law firms, according to a survey by the National Law Journal at Law.com.
Surveyed law students at 149 different schools most often chose Kirkland & Ellis as a top place to work in a summer associate position, according to a new survey by Law360 Pulse.
Top partners at Simpson Thacher & Bartlett are expected to earn more than $20 million this year after the law firm adjusted its compensation structure.
As the 2023 ABA Profile of the Legal Profession reveals, civil legal aid lawyers are in short supply across the United States. According to the 142-page report, even though there are 1.3 million lawyers in the U.S., nationwide there are still only 10,000 paid civil legal aid lawyers, or about three for every 10,000 people in poverty.
Updated: Reed Smith has confirmed that it is changing the compensation structure for associates, but it’s not getting into specifics after a leaked memo said the law firm was creating two tiers of associate pay based on billable hours.
The three law firms that successfully sued to overturn SpaceX owner and Tesla CEO Elon Musk's $55.8 billion Tesla compensation package are seeking attorney fees payable in company stock worth more than $5.6 billion.
Founded in 2017, Substack, which is a publishing platform open to anyone and everyone who has something to write, has recently attracted a slew of lawyers and attorney-adjacent writers who realized how much it could help their careers.
A federal judge in New York City has reduced a law firm’s fee request by about half after criticizing its use of the artificial intelligence tool ChatGPT-4 as a “cross-check” to determine prevailing market rates for attorneys.
Updated: Cravath, Swaine & Moore lost three partners to competitor law firms in January, illustrating that “Cravath is now in the ranks of other New York firms that routinely see partnership shuffles,” according to an article from Law.com.
The ABA Journal wants to host and facilitate conversations among lawyers about their profession. We are now accepting thoughtful, non-promotional articles and commentary by unpaid contributors.
