Big Firms Raise Lawyer Salaries Again

Last week, it was reported that big law firms are once again raising salaries up to $160,000 for first year lawyers and $280,000 for eighth year lawyers. Understandably, this made many in-house counsel and clients that utilize these firms a bit nervous. As one of the quotes in the articles states, the attorneys who received the $10,000 raises did not become any more talented as a lawyer the day after they received the raises.

This is good news for firms like ours. Clients eventually realize that they are not receiving any better service at the big firms than they receive from boutique firms like ours – but the only constant they do receive is a large bill. Plus, our clients always have a direct line to speak with the actual attorney completing work on their case.

It is also interesting to note that the big firms cite attracting the best talent for the increase in wages. While this may be true for attracting lawyers fresh out of law school, but it only takes one or two years of billing 2,200 + hours per year to realize that there are better alternatives. Many lawyers at the big firm are also realizing that they can and usually do receive better work assignments and develop more quickly as lawyers at smaller firms – which will pay off in the long run.
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