Cravath, Swaine & Moore has “quietly created” a new partnership tier for nonequity partners who are paid salaries and don’t share in the profits, Bloomberg Law reports.
Milbank announced Tuesday that it is matching last year’s year-end bonuses while also giving annual raises of $10,000 to its associates beginning Jan. 1.
Average law professor pay has decreased 24% in real terms from 2013 to 2022, according to a law professor’s analysis of data from the U.S. Bureau of Labor Statistics.
Nikia Gray, the executive director of the National Association for Law Placement, is asking legal employers to “stand firm” on their commitment to diversity, equity and inclusion after the release of data showing that minorities from the class of 2022 fare worse in employment numbers.
High-profile lawyer David Boies charges $2,110 per hour, putting him “in a still-rarified realm of attorneys who charge upwards of $2,000 an hour,” according to Reuters.
Six of the top 10 highest-paid general counsel work in the tech industry, according to a new report published by Corporate Counsel and ALM Intelligence on Monday.
Two Gibson, Dunn & Crutcher partners usually bill more than $1,500 per hour, but they trimmed the amount to only $950 per hour in a request for an award of attorney fees following successful litigation in the Southern District of Florida.
Talent wars helped push the national median salary for class of 2022 law graduates to a record high of $85,000, according to figures released Wednesday by the National Association for Law Placement.
The legal industry has long been criticized for pay inequality, especially when it comes to female and minority attorneys. But a recent spate of pay transparency laws may put an end to this, regardless of whether the firms like it.
Lawyers must tread carefully when they take a client’s money, particularly when labeling funds as “nonrefundable” and assuming they have earned the entirety of that fee even if the attorney-client relationship ends early.
The new management at Twitter contends Wachtell, Lipton, Rosen & Katz exploited the social media company and violated its fiduciary duties by charging $90 million in fees—including a “gargantuan” success fee—before Elon Musk’s takeover.
