For nearly a week and a half, Davis Polk & Wardwell set the scale for associate pay when it announced that it was paying $215,000 to $396,500 to associates.
Updated: Davis Polk & Wardwell has finally announced its new associate pay scale, and it is more generous than the standard set by Milbank last month, at least for more experienced associates.
Nike can recover about $260,000 out of about $856,000 in legal fees paid to Boies Schiller Flexner for helping New York federal prosecutors bring charges against lawyer Michael Avenatti, a federal judge has ruled.
Several BigLaw firms have matched Milbank’s new higher pay scale for associates, but there could be some that are unable to keep up, according to legal consultants who spoke with Reuters.
Law firms “are spending huge amounts of money and putting their profits at increasing risk” as they battle to hold on to their associates, according to a report released Tuesday.
A lawyer who was once the highest-paid public defense lawyer in Maine is facing a state lawsuit contending that she and her law firm misrepresented the hours that they worked on behalf of indigent defendants.
Law firms will be able to easily absorb higher expenses driven by a talent war because of strong revenue growth in 2021, according to the 2022 Citi Hildebrandt Client Advisory released Thursday.
Cravath, Swaine & Moore—the first law firm to announce year-end associate bonuses of up to $115,000—has matched additional special bonuses being paid by Davis Polk & Wardwell.