Der Bewerbermarkt
am 10.08.2006 von Jurabilis
The most common first-year associate salary at law firms with more than 500 attorneys climbed to $135,000 in 2006, NALP reported. That figure likely was welcome relief for law graduates, whose salaries at those firms were stagnant at $125,000 from 2000 to 2005.
The rise in pay, in large part, represents a competition among law firms to recruit top talent in a market with plenty of work but a declining number of law school applicants. But what may be a quick recruiting fix could exacerbate the associate attrition problem.
It can be ironically self-defeating, said Ward Bower, a principal at Altman Weil, a law firm consultancy.
The escalation of starting salaries compresses compensation for junior attorneys in general, Bower explained, which means that third-, fourth- and fifth-year associates do not receive increases proportionate to what their beginning colleagues are making.
The result, then, is a heightened incentive for new lawyers to use their hefty salaries to pay down debt quickly and …
Mandant zieht die Notbremse
Jurabilis / Wal-Mart hat die Nase voll von ständigen Honorarsatzerhöhungen (jeweils nach den Gehaltserhöhungen für die First-Year-Associates) und fasst die eigene Haltung in einem lesenswerten Memo zusammen (WSJ berichtet):Starting salaries for junior a…
Die Nestflucht der Großkanzlei-Associates: Warum und wohin?
Jurabilis / At the 250 largest law firms, the arrows are pointing up for many associate indicators. Summer internships are up. Incoming associate classes are up. Recruiting costs for both summer and first-year associates, in dollars and in partner time, are…
160.000 USD für First Years
Jurabilis / Simpson Thacher has raised the bar. The firms executive committee chairman Philip Pete Ruegger III sent an email announcing an increase in first-year associate base salaries to $160,000, second-year salaries to $170,000 and so on and so fo…
Weihnachtszeit, Bonus-Zeit
Jurabilis / For big-firm associates in New York it may be time to uncork the champagne. This just in: Milbank, Tweed, Hadley & McCloy has announced it is paying year-end associate bonuses ranging from $30,000 for the most junior attorneys up to $65,000. Tha…
Gute Zeiten für Paralegals
Jurabilis / - Paralegal compensation in U.S. law firms and corporate law departments showed solid increases over the previous year, above the rise in the cost of living. - Paralegals working in law firms received somewhat higher increases than their law dep…
Globalisierung ...
Jurabilis / ... ist keine Einbahnstraße:To compete with foreign firms, large domestic Indian firms have been forced to increase pay, either through salary hikes, end-of-year bonuses or promotions. New associates earn around 12 lakh rupees per year, while s…
Expansion in der Rezession
Jurabilis / In Zeiten nach hinten verlegter Associate-Einstellungstermine, Associate-Entlassungen und angedachter Gehaltskürzungen wirken solche Berichte wie aus einem Parallel-Universum:A question: Could the grim economic times be a recruiting boon for fi…
Hourly Billing Rates Continue to Rise
Jurabilis / Its a good time to be a lawyer. Billing rates for law firm attorneys jumped last year, with partners and associates raking in more dollars per hour than ever before. And at least one partner now charges $1,000, the first four-figure hourly rate re…
American Firms Pay Premium
German American Law Journal :: American Edition / CK - Washington. An Azur overview of salaries paid associates in Germany-located law offices points to premiums paid by America-based law firms. The fall 2006 compensation table list both base and maximum salaries. There are small German firms…
» Law.com - Big-Firm Associate Pay Soars by $10K in 2006
"> <meta name="keywords" content=""> <link rel="stylesheet" type="text/css" href="/css/law/lawarticle.css
© 2004-2008 JuraBlogs | Impressum
