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BigLaw: The Case for Lower Associate Salaries

By Liz Kurtz

Originally published on August 24, 2009 in our free BigLaw newsletter. A chilly breeze has blown over the legal profession for the last year. Did I say "chilly breeze"? Make that a hurricane, with gale-force winds. But recent reports indicate that, while the storm is far from over, the winds may have slowed. The hurricane, it seems, is now a tropical storm. The prospect of a meteorological shift raises countless questions about what large law firms will look like when we emerge from our storm cellars. Will the leveraged business model survive? Is the billable hour dead? And what will become of the famously ? or infamously ? generous associate salaries? Salaries Stand Still ? According to the National Association for Legal Career Professionals ("NALP"), its recently released 2009 Associate Salary Survey "reflects what is likely to be the apogee of large firm salaries, and represents the culmination of increases since 2006...continue to full post

Full post as published by TechnoLawyer Blog on August 31, 2009 (boomark / email).