All articles tagged with #biglaw
BTI Consulting Group's annual ranking highlights the most feared litigation firms by in-house counsel, with Quinn Emanuel, Kirkland & Ellis, Skadden, and Gibson Dunn topping the list as the 'Fearsome Foursome,' while other firms are recognized as 'Feared,' 'Awesome,' or 'Intimidating Opponents' in the legal industry.
The 2025 Am Law A-List ranks the top 10 elite law firms in America based on financial and cultural metrics such as revenue per lawyer, pro bono work, associate satisfaction, and diversity, with Munger Tolles & Olson leading the list.
A summer associate at Sidley in New York was dismissed after repeatedly biting colleagues, an unusual and disruptive behavior that drew attention to her conduct during her summer at the law firm.
A significant number of partners from Willkie Farr's West Coast offices are leaving for firms like Cooley that stand for the rule of law, following the firm's decision to support Trump's executive orders with pro bono payola, which has led to concerns about the firm's commitment to legal principles and the potential decimation of its San Francisco office.
Skadden Arps has announced its year-end bonuses, matching Milbank's scale and offering additional cash for its most senior associates. The firm, ranked No. 5 on the Am Law 100 with over $3.27 billion in revenue for 2023, is rewarding associates from the class of 2017 and senior with up to $125,000 plus a $25,000 special bonus. This move highlights the competitive nature of compensation in Biglaw, encouraging other firms to recognize the hard work of their experienced lawyers.
White & Case, ranked #9 on the Am Law 100 with nearly $3 billion in revenue, has announced it will match the market standard for year-end and special bonuses for associates. The bonuses will be distributed on February 14th. The announcement encourages associates to share bonus updates from their firms with Above the Law to stay informed on industry trends.
Ropes & Gray has announced it will match Milbank's bonus scale for its US-based partnership track associates who meet the 1900-hour threshold, with potential for additional bonuses for those exceeding expectations. The firm, ranked 8th on the Am Law 200 with nearly $3 billion in revenue, plans to distribute bonuses on December 24. The announcement encourages associates to report their firm's bonus matches to Above the Law for updates.
Fried Frank has announced it will match the Milbank scale for both annual and special bonuses, with additional premiums ranging from $3,000 to $34,500. The firm reported over $1 billion in gross revenue and high profits per equity partner in 2023. Bonuses will be distributed by December 31, and Above the Law encourages readers to share bonus memos for updates.
Paul Hastings has become the first major Biglaw firm to match the Milbank bonus scale following Cravath's announcement. The firm will offer year-end bonuses ranging from $20,000 for the Class of 2023 to $115,000 for the Class of 2017 and above, along with special bonuses. This move aligns with the Milbank scale, reflecting Paul Hastings' strong financial performance, including $1.8 billion in gross revenue and $5.4 million in profits per equity partner in 2023.
Cravath has announced both year-end and special bonuses for its associates, matching the bonus scale set by Milbank. These bonuses will be distributed in December across their New York, D.C., and London offices without specific billable hours requirements. This move is expected to influence other major Biglaw firms to follow suit in their bonus offerings.
Richard Pitt, a partner at Eversheds Sutherland, faced backlash for blocking a pregnant associate's car in a parking dispute at the Cardiff office. Enraged by the associate taking his reserved spot, Pitt parked his car to trap hers, demanding a written and later an in-person apology. The situation was resolved after Pitt issued an apology for his "regrettable error of judgement."
Fennemore Craig's latest group lateral hire from Moye White has resulted in the closure of the nearly 50-year-old boutique firm, with the majority of its employees choosing to join the larger firm. The move is expected to add close to $30 million in annualized revenue to Fennemore, which experienced a 5.7% increase in revenue in 2023. While not all Moye White employees received offers to move, Fennemore CEO James Goodnow expressed well wishes for those affected.
Former Biglaw partner Mark Scott was sentenced to 10 years in prison for his involvement in a $400 million cryptocurrency scheme, after being convicted of conspiracy to commit bank fraud and conspiracy to launder money. Prosecutors stated that Scott played a key role in the plot and bragged about making $50 million through fraud and deception. He was also ordered to forfeit nearly $393 million, along with various assets, and was disbarred by New York state in 2020.
Proskauer Rose, a top Biglaw firm, has elected Timothy Mungovan as its new chair following the departure of former leader Steven Ellis due to health-related reasons. Mungovan, who has been with the firm for over a decade and held various leadership positions, expressed gratitude for Ellis's leadership and looks forward to continuing the firm's strategic vision. Under Ellis's guidance, the firm experienced significant growth, and he expressed confidence in Mungovan's ability to drive the firm forward as a destination for talent and clients.
Law firm Irell is giving out impressive bonuses to its associates, ranging from $45,000 to $175,000, surpassing the industry average. The firm's total bonuses across associate classes average more than twice the market bonuses being paid by most other high-end firms. This puts Irell ahead of the market on total compensation, even at firms that have raised base compensation. However, bonuses are tied to meeting billable hour requirements, so associates who have an unusually slow year may not stay ahead of the market if the firm passes on raises.