Some 'Competitive' Biglaw Firms Will Likely Bow Out From The COVID Bonus Wars
Associates are going to be pretty pissed if and when this happens.
‘Why did I pick this firm?’
A lot will have pressure to do it, and maybe some will and some won’t. I think the [financial] variation is causing many law firm chairs to be performing a very delicate balancing act. There will be a group of firms, perhaps as large as a quarter of the Am Law 200, that doesn’t have as much flexibility to stay as competitive as they historically have.
— Kent Zimmermann, a consultant for Zeughauser Group, commenting on the COVID bonus wars that are currently ongoing among elite Biglaw firms. Thus far, Kirkland & Ellis, a firm that’s known for being competitive on pay, has already decided not to participate in the announcement of fall bonuses.
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.
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