Tag Archives: Compensation

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Pound’s Brexit Slump Means Higher Pay for Young London Lawyers

Pound’s Brexit Slump Means Higher Pay for Young London Lawyers

By Kaye Wiggins, Bloomberg News The U.K.’s vote to leave the European Union is having an unintended consequence: higher pay for some of London’s top young lawyers. The increases for attorneys at Kirkland & Ellis LLP and other large practices come after some U.S. firms decided to set pay in dollars, and then convert it to pounds

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General Counsel See Pay Increases Amid Shifting Role

By Sara Merken, Bloomberg BNA General counsel at U.S. public companies are being paid more to reflect their increasing involvement in strategic decision-making, with the highest pay increases at companies with revenues of between $1 billion to $5 billion, a new report found. The top legal officers at such companies received an 8.1 percent pay raise in fiscal

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Enduring Principles for An Effective Partner Compensation System (Perspective)

Editor’s Note: This article ties into a series by author, who is the former chair of a large U.S. law firm, on management principles. By Donald Mrozek, Former Chairman, Hinshaw & Culbertson LLP Any regular reader of the legal business press can tell you that law firms are operating in a highly challenging economic environment.  There

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SEC Nominee Clayton Earned $7.6M at New York Law Firm

By Andrew Ramonas, Bloomberg BNA SEC chairman nominee Jay Clayton made $7.6 million as a partner at Sullivan & Cromwell in the past year, according to recently released ethics paperwork. Clayton, whom President Donald Trump tapped to lead the Securities and Exchange Commission in January, has handled mergers and acquisitions at the New York law

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Lawsuit: Chadbourne’s Women Partners Earned Fraction of What Men Earned

Female partners at Chadbourne & Parke earned approximately 72 percent as much as their male counterparts for three straight years from 2013 to 2015, according to a statistical analysis by a former and current Chadbourne partner who have filed a proposed gender discrimination federal class-action against the firm in Manhattan. The numbers were disclosed after a federal judge overseeing

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Law Schools Ranked by Their Graduates’ Salaries

Is the job market for law school graduates back to pre-recession conditions? Well, it at least looks that way at the top, if you ask Cornell Law School Dean Eduardo Peñalver. “We think our graduates are basically where they were pre-recession in terms of the mix of jobs they are finding,” said Peñalver. Cornell ranked first in a

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Compensation Ratios are Spreading in Big Law (Perspective)

Editor’s Note: The author is a former Big Law executive and senior partner at The Boston Consulting Group. By Hugh A. Simons, Ph.D., former COO of Ropes & Gray It’s not often one feels sorry for the leaders of old-line, super-high profit, indigenous New York firms. But we live in strange times. Partner compensation is

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General Counsel Compensation Jumped in 2015

The conventional wisdom says that lawyers in private practice make more money than lawyers who work in-house, but that looks to be changing. In 2015, the median compensation for general counsels rose 6.9 percent and exceeded $1 million, according to a new report that examined more than 1,400 lawyers’ compensation last year. It does not

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Cravath Announces Bonuses After Big Salary Jump

Cravath, Swaine & Moore has announced associate year-end bonuses ranging from $15,000 to $100,000, depending on seniority. The news was reported by the legal blog Above the Law, which published a copy of the memo signed by four firm leaders including Faiza J. Saeed, its newly elected presiding partner who will assume that role on January