Lawyer Pay

K&L Gates, Arent Fox Report Double-Digit Increases in Revenue

The expanding law firm K&L Gates reported a 27 percent increase in gross revenue for 2008, yet totals were still below the $1 billion mark. The law firm added 300 lawyers last year and its revenue reached $959.5 million, the American Lawyer reports. Profits per equity partner jumped almost 7…

Jan 22, 2009 3:19 PM CST

A Judge and His Son Undermine Arguments for Higher Judicial Pay

A high-profile federal appeals judge and his son are undermining calls for higher pay for federal judges. Chief Justice John G. Roberts Jr. has said federal judges are so underpaid that the problem has “reached the level of a constitutional crisis.” But Eric Posner and his father, appeals judge Richard…

Jan 20, 2009 5:05 PM CST

Fake Ad for $30K NY Lawyer Job Gets Real Responses

Frustrated with the lack of good legal jobs, a New York contract attorney earning $60,000 a year posted an advertisement of his own on Craigslist. A 2005 law school graduate, the unnamed 30-year-old intended the $30,000 job listing for an associate attorney working for a 20-lawyer firm in midtown Manhattan…

Jan 15, 2009 11:58 PM CST

Associates at Alston & Bird, Hogan & Hartson Won’t Get Pay Raises

Alston & Bird and Hogan & Hartson are apparently the latest law firms to freeze associate salaries. The blog Above the Law has published law firm internal memos announcing the freezes. The Alston & Bird memo said the pay freeze was needed for “sound financial stewardship of the firm.” The…

Jan 14, 2009 2:38 PM CST

Cadwalader Partner Profits Drop 30%, Less than Rumored Amount

Some rumors had put the drop in partner profits at Cadwalader, Wickersham & Taft at 50 percent. So the news of a 30 percent decline doesn’t seem all that bad. Average profits per equity partner at Cadwalader fell to $1.88 million for 2008, down from $2.725 million the year before,…

Jan 13, 2009 1:25 PM CST

Clifford Chance Predicts 30 Percent Plunge in Profit Per Partner

In an internal memo, Clifford Chance has warned partners that they can expect revenue to plunge significantly in the current financial year. Although global managing partner David Childs declined to confirm exact figures, partners are bracing for roller-coaster ride in which their take-home pay could plummet by 30 percent, reports…

Jan 12, 2009 10:04 PM CST

Littler Mendelson Boosts Partner Profits, Topping Other San Francisco Firms

The employment law firm Littler Mendelson managed to boost profits per equity partner by 3 percent and revenue per lawyer by 5 percent, the highest increases out of seven San Francisco-based firms surveyed. Average profits per partner at Littler Mendelson increased to $435,000 while the firm’s head count increased by…

Jan 12, 2009 5:42 PM CST

Economy Hits Contract Lawyers and the Companies that Find Jobs for Them

Contract lawyers hired to do document review for law firms are feeling the pinch of a bad economy. Fewer contract jobs are available, and law firms are pressuring placement agencies to hold pay below the going rate of $35 an hour in Washington, D.C., and New York, the National Law…

Jan 12, 2009 2:41 PM CST

Ex-Associate (a Harvard Law Grad) Dishes on Skadden in Calif. Lawsuit

For seven years, Gary H. Green II handled labor and employment matters as an associate in the Los Angeles office of Skadden Arps Slate Meagher & Flom. Now he is apparently putting some of his knowledge of the practice area to personal use, in a pro se lawsuit (PDF) he…

Jan 9, 2009 1:44 AM CST

Paralegals Outrank Lawyers on Best Jobs List

Much is made of the fact that federal judges must make substantial financial sacrifices when they leave private law practice. But the editors of a new best jobs list believe it’s better to be a federal judge, and better still to be a paralegal assistant. Lawyers were ranked 82nd on…

Jan 8, 2009 4:01 PM CST

Clifford Chance Plans to Ax Up to 80 Associates, Asks Partners to Ante Up

Updated: Partners and several associates at Clifford Chance will be feeling the pain of the economic downturn. Clifford Chance is beginning a review that could lead to layoffs of up to 80 London associates at the same time it is asking partners to make increased capital contributions. The law firm…

Jan 8, 2009 1:18 PM CST

Ohio Prosecutor Takes Pay Cut and Moonlights to Keep Office Staff

Concerned about a limited government budget that could require staff layoffs, an Ohio prosecutor has taken a pay cut—and a part-time job practicing law—to help his office make ends meet. Hamilton County Prosecutor Joe Deters will now make $80,000 instead of $123,000 annually for his government work, as he handles…

Jan 7, 2009 6:39 PM CST

UK Firm Linklaters Halves Bonuses for US Associates

London-based Linklaters is cutting bonuses in half for U.S. associates in New York and abroad. Year-end bonuses will range from $17,500 to $32,500, half the amount paid last year, Legal Week reports. The lower amount matches that paid by London firms Clifford Chance and Allen & Overy, as well as…

Jan 7, 2009 6:03 PM CST

Sonnenschein Offers Bonuses of Up to $70K, but Freezes Pay

Associates at Sonnenschein Nath & Rosenthal recently got good news and bad news in a memo on compensation. The memo, published yesterday on Above the Law, announces bonuses ranging from $10,000 to $70,000. The bonus schedule means some associates will make “significantly higher bonuses than their peers at many of…

Jan 7, 2009 3:25 PM CST

Morgan Lewis Ditches Billable Hours Requirement for Bonuses

Morgan Lewis & Bockius is revising its bonus system that had relied on billable hours to determine which associates get the year-end reward. The old system required a minimum of 2,000 billable hours. The new system for the 2009 fiscal year is merit-based, the National Law Journal reports. Above the…

Jan 7, 2009 2:49 PM CST