Lawyer Pay

Which law schools offer the best and worst return on investment?

If you want to earn a top salary as a lawyer, it’s a good idea to attend law school at Cornell, Columbia, New York University, the University of Chicago or Harvard. But if you want the best return on investment, Brigham Young University and the University of Texas at Austin…

Jan 25, 2017 9:40 AM CST

Billable hour pricing is effectively dead because of budget caps, report says

Most law firms say they use the billable hour model for pricing most of their work, but the reality is different, according to a new report. Largely because of budgets and caps imposed by clients, 80 to 90 percent of law firm work is done outside of the traditional billable…

Jan 12, 2017 10:53 AM CST

Law firms provide innovative family benefits that cater to moms

In an effort to retain and attract female lawyers, some law firms have begun rolling out programs to help working mothers. An increasing number of firms are providing targeted counseling for women to help them manage the stress of being working mothers.

Jan 1, 2017 3:20 AM CST

Kirkland litigators are reportedly hit hard in reallocation of partner shares

Kirkland & Ellis has reportedly changed the way it allocates equity partner profits in a move said to hit litigation partners hard while benefiting corporate and possibly bankruptcy partners. Three unidentified sources told Law.com (sub. req.) about the change, and two of them described the reallocation as a “bloodbath.” One…

Dec 20, 2016 8:00 AM CST

Does tying performance to money stifle innovation and change?

This past summer, I spoke to a group of in-house lawyers about implementing the principles behind the agile manifesto for lawyers, something I wrote about in the New Normal.

Dec 15, 2016 8:30 AM CST

This law firm’s bonuses exceed the Cravath standard

Associates at Susman Godfrey, a law firm with about 114 lawyers, are getting bonuses that are as much as $40,000 higher than the standard set this year by Cravath, Swaine & Moore. Cravath announced in November that it is paying year-end bonuses ranging from $15,000 to $100,000. Susman Godfrey is…

Dec 14, 2016 2:18 PM CST

Average 401(k) savings top $1M in plans at these two law firms

Lawyers in BigLaw are apparently stashing lots of money in their 401(k) plans. Individual average account balances are $2.1 million at Cravath and $1.1 million at O’Melveny in 401(k) plans for select groups of individuals, Bloomberg Big Law Business reports. That Cravath plan has 133 participants and the O’Melveny plan…

Dec 1, 2016 11:08 AM CST

Bonus season begins with Cravath announcement; which firms fall in line?

Updated: Cravath, Swaine & Moore raised the bar when it began paying first-year associates $180,000 this summer, but its bonus announcement on Monday will sound familiar. Cravath will pay year-end bonuses ranging from $15,000 to $100,000, the same as last year. Above the Law broke the news and published the…

Nov 30, 2016 8:10 AM CST

How lawyers can negotiate for better salaries and positions (podcast with transcript)

While negotiating for one’s client is second nature to most attorneys, many find it a lot harder to negotiate for themselves. How can you advocate for a better position without being seen as too aggressive or off-putting? In this month’s Asked and Answered podcast, the ABA Journal’s Stephanie Francis Ward talks to Kathleen Kelley Reardon about how attorneys can ask for what they want without jeopardizing good work relationships.

Nov 28, 2016 8:45 AM CST

These law schools are tops for median private-sector pay exceeding student debt

Prospective law students who hope to earn more in a year than their law school debt should consider these law schools with the highest salary-debt ratios. U.S. News & World Report compiled a list of 10 schools, using the median starting salary of 2014 law graduates who work in the…

Nov 3, 2016 10:44 AM CDT

Judge reluctantly agrees partner’s equal-pay suit against Sedgwick is likely subject to arbitration

U.S. District Judge William Alsup of San Francisco indicated on Thursday that a partner’s pay bias suit against Sedgwick will likely be subject to arbitration, though he’s not happy about it. Alsup said he’s inclined to agree with Sedgwick’s assertion that partnership agreements signed by plaintiff Traci Ribeiro require arbitration,…

Oct 14, 2016 7:00 AM CDT

Male partners make 44% more on average than female partners, survey finds

A new survey confirms the gender pay gap among law firm partners. Male partners make 44 percent more on average than female partners, according to the survey by Major, Lindsey & Africa. Law.com, Bloomberg Big Law Business and the Wall Street Journal Law Blog covered the results. Average compensation is…

Oct 13, 2016 8:24 AM CDT

Proskauer aims to help lawyers returning from caregiver leave with this benefit

Proskauer Rose is helping lawyers returning from primary-caregiver leave by paying them full salary but requiring them to work a 75 percent schedule. The program is called “CaRe,” which stands for Caregiver Return, according to a press release and the Am Law Daily (sub. req.). The firm gives primary caregivers…

Sep 26, 2016 10:10 AM CDT

JPMorgan decision on minimum level of assets for premium service hits lawyers hard

Lawyers are hard hit by JPMorgan’s decision to require clients of its top banking service to have $10 million in investible assets. Lawyers are the clients most affected by the bank’s decision to double the minimum required, the Wall Street Journal (sub. req.) reports. Those who meet the $10 million…

Sep 7, 2016 2:14 PM CDT

Partner files $100M class action against Chadbourne, targets pay decisions of male ‘dictatorship’

A partner has filed a $100 million class action alleging Chadbourne & Parke has “a culture of discrimination against female attorneys” that was perpetuated by an “all-male dictatorship.” The suit (PDF) by Kerrie Campbell seeks damages for female partners “who have been disparately underpaid, systematically shut out of firm leadership,…

Aug 31, 2016 4:07 PM CDT