Before becoming a legal recruiter, I spent about a decade practicing law, including both at a BigLaw firm and in the in-house legal department of large global company. When I made that in-house move, I asked all the typical questions about compensation, scope of work, reporting structure, and company culture. It was an exciting transition…
Every marketplace operates according to the law of supply and demand, and the lawyer job market is no different. When the economy is strong, there’s plenty of legal work to go around, and law firm employers clamor to hire more lawyers to handle it. Conversely, when the economy slows and deals are down, hiring slows.…
Money shouldn’t be the primary motive for a career move, but it’s an important factor. In a down market, lawyers have little bargaining power; but in good times, law firms compete financially for the best and the brightest. Historically, elite New York law firms led the pack in associate salary increases, and other firms struggled…
Law firms pay associate bonuses not only to incentivize excellent performance and high productivity, but also to entice lawyers to join them and stay. Firms may pay discretionary bonuses predicated on excellent associate work and strong financial performance of the firm, hours bonuses requiring a minimum number of annual billable hours for any bonus eligibility…
