Big Law’s Pay War is Dangerous Game for Firms Posing as Elite
“An ongoing pay war is making lawyers at some of the top firms in the world more money than ever before. It’s also exposing a growing fault line between the richest firms and everyone else. In just a few weeks, Milbank LLP, Davis Polk & Wardwell and Cravath Swaine & Moore all announced a series,” reports Meghan Tribe in Bloomberg Law.
“As the salary scales reach new heights, many of the top performing law firms have quickly moved to match—seeing it as an imperative in the tightening battle for top associate talent. Now, a small group of the richest firms appears to be pulling away from the pack. The firms that can match the Cravath salaries are making a point of setting.”