Ed. be aware: Welcome to our day by day function, Quote of the Day.
I don’t suppose we’re finished but. If historical past is any information, I believe there could be a number of extra surprises over the following couple of weeks because the companies duke it out.
— Jeff Lowe, of Jeffrey Lowe Companions, in feedback given to the American Lawyer on the state of Biglaw’s compensation market within the wake of Cravath’s choice to announce wage raises and bonuses. Many companies have already matched Cravath, however many others have remained silent to date. Lowe mentioned he’d be shocked if companies via “at the least the highest 50 companies and additional into the highest 100” didn’t match Cravath’s wage scale, however that if others tried to maintain up, he’d be much more shocked. “Positively as you progress your approach down the Am Legislation 100, there’s simply much less cash to play with,” he mentioned.
Staci Zaretsky is a senior editor at Above the Legislation, the place she’s labored since 2011. She’d love to listen to from you, so please be at liberty to e-mail her with any suggestions, questions, feedback, or critiques. You may comply with her on Twitter and Threads or join together with her on LinkedIn.
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