BigLaw Associates Enjoying Higher Salaries and Reduced Workload
TL;DR Summary
Big Law associates are experiencing a significant decrease in work hours and a substantial increase in salaries, with the average hours billed in 2023 dropping to a record low. The recent baseline salary increase to $225,000 for Biglaw associates, combined with the decrease in billable hours, could result in a productivity loss of over $100,000 per associate, according to a report from Wells Fargo’s Legal Specialty Group.
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- Hiring slowdown keeps growth in check at biggest US law firms Reuters.com
- BigLaw associates 'have never had it better;' they are working fewer hours, survey says, and making more money ABA Journal
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