zerohedge.com 04 Jun, 2021 00:00 am

Starting Lawyer Bonuses Soar To Record $164,000 Amid Unprecedented Comp Surge

Starting Lawyer Bonuses Soar To Record $164,000 Amid Unprecedented Comp Surge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

Paradoxically, the boom in legal services (and bonuses) comes after law firms had prepared for the worst last summer, in the wake of the coronavirus.Instead, 2020 turned into a windfall year for the industry’s top 100 law firms by revenue, which brought in almost $111 billion in revenue, up 6." At the same time, Big Law firms are paying in top of the market in regions where it would have previously been completely unheard of, like Atlanta, Milwaukee, and Seattle, she said.law firms are also handing out “exorbitant” signing bonuses, ranging from $20,000 up to $100,000 for corporate practice attorneys, Eberhard said.

” Other Big Law firms have begun experimenting with solutions to help their associates outside of just pure cash.Here are the details, courtesy of Bloomberg: What is unique about this cycle is that the ripple effects are unusually being felt beyond just New York City and Silicon Valley, as smaller firms and international firms now also find themselves in a battle to keep pace with Big Law’s richest to keep their younger talent.

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