Lawyer Pay

Many Attorneys Struggle Financially, as Paychecks Fatten for a Few

Jeanne Wrenn loves her job as an assistant Cook County prosecutor in Chicago. But she isn’t as thrilled about her $59,000 salary. A single mother seven years out of law school, which she borrowed $100,000 to attend, the 36-year-old Wrenn has a part-time job as a bartender to help make…

Apr 8, 2008 7:23 PM CDT

Top Associate Pay Skyrockets 50% at Law Firms in India

Associate attorneys at major law firms in India are still paid far less than their American and British counterparts. But competition among international firms for top talent has sent their salaries shooting up by more than 50 percent in the past year. “Indian law school graduates can now earn around…

Apr 8, 2008 3:36 PM CDT

Calif. Bar Prez Says Billable Hour System ‘Corrupting’ to the Profession

A common lawyer lament concerns the problem of billable hours. Lawyers at large law firms often complain of the toll exacted by heavy workloads driven by the pressure to bill more hours. Now the president of the State Bar of California is citing another reason to put an end to…

Apr 4, 2008 3:07 PM CDT

How an Influential Private Lawyer Got a $107K State Pension

An influential New York lawyer who worked as a private contract employee for six governmental entities was given 21 years’ retroactive credit in the state pension system, enabling him to collect an annual pension of almost $107,000, Newsday reports. Lawyer Albert D’Agostino received retroactive credit in 2000 for 28 years…

Apr 3, 2008 6:53 PM CDT

Jurors Laud Sonnenschein Defense, Give Ex-Partner a Mixed Verdict

A former partner at Sonnenschein Nath & Rosenthal had sought $8.2 million in his lawsuit against the firm, but he’s getting far less than that. Two jurors said they found ex-partner Douglas Rosenthal was underpaid by more than $500,000 even though Sonnenschein had better lawyers in the case, Legal Times…

Mar 31, 2008 11:25 AM CDT

In-House Jobs Not So Cushy or Exciting, Says Veteran Lawyer

If you think a jump from a law firm to an in-house position is the ticket to a cushy, stress-free job, think again. The life of an in-house lawyer is not exactly a bed of roses. That’s the assessment of Gloria Noh Cannon, a former in-house lawyer who is now…

Mar 27, 2008 4:00 PM CDT

Move Over AmLaw 100, Here’s the Lawyer’s Spin on the Top 50

In a reinvention of the AmLaw 100, a United Kingdom legal publication has compiled a list of the top 50 U.S. law firms based on revenue. Atop the list is DLA Piper, followed by Skadden, Arps, Slate, Meagher & Flom; Latham & Watkins; Baker & McKenzie; and Sidley Austin. Together,…

Mar 25, 2008 7:45 PM CDT

Wachtell Partners Make By Far the Most: $4.48M, on Average

Updated: Despite all the hoopla over megafirms’ megaprofits in 2007, the three law firms that for the first time topped $2 billion in gross revenue weren’t where the real money was being made. Once again, profits per equity partner at Wachtell, Lipton, Rosen & Katz were breathtaking—$4.48 million. The just-over-200-lawyer…

Mar 24, 2008 5:43 PM CDT

Sonnenschein Partner Pay Policy Examined at Trial

A former partner who claims Sonnenschein Nath & Rosenthal owes him $8.5 million testified last week that the firm took him off a huge contingency case and didn’t compensate him properly when it resulted in a huge settlement. The case had sought damages from Libya on behalf of victims killed…

Mar 19, 2008 12:06 PM CDT

Now in Demand, New Lawyers in India Get Higher Salary Offers

The marketplace may help boost the salaries of fledgling lawyers from India, who are increasingly in demand, to do routine legal work for American law firms and companies because of their low costs. About 100 legal process outsourcing companies employ Indian lawyers, offering their services abroad at bargain prices, the…

Mar 14, 2008 1:37 PM CDT

Justice Kennedy Warns of ‘Crisis’ Over Judicial Pay

Justice Anthony M. Kennedy told a House subcommittee yesterday that the failure to give federal judges a pay raise has reached the level of a “constitutional crisis.” A proposal to hike judicial pay has made some progress in both houses of Congress, but nothing is final, Legal Times reports. Kennedy…

Mar 14, 2008 12:00 PM CDT

McDermott Denies Slow Payouts to Departing Partners, With Two Exceptions

McDermott Will & Emery, hit with a wave of defections at its London office, is now responding to claims that it has been late in repaying capital contributions to outgoing partners. McDermott acknowledges a dispute with one former partner over the repayment of capital and says it was late in…

Mar 13, 2008 4:54 PM CDT

Emphasis on Money Can Be Source of Depression in Law School

Stress during law school can cause anxiety and depression, especially if students focus on the need to make money and land a big-firm job, according to an article published online as part of an ABA group’s effort to tackle the problem. Law schools need to acknowledge the problem of student…

Mar 13, 2008 1:47 PM CDT

Retire at 50? Many Firms Offer Early Option, But Few Match O’Melveny’s

Corrected: Many law firms offer early retirements to boost profits per partner, but few are setting the floor at age 50, as O’Melveny & Myers recently did. The law firm made a temporary buyout offer to partners over age 50, and Masood Sohaili is taking advantage of it to jump…

Mar 13, 2008 11:10 AM CDT

Under Unusual Montana Marriage Law, Some Couples Say ‘I Do’ a Lot

Montana may be the only state in the country that allows couples to get married without actually being present. As a result, the thrill is gone for the proxies who get married again and again, on behalf of others. Nonetheless, these absentee marriages serve an important purpose for some faraway…

Mar 11, 2008 11:17 PM CDT