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A common career path is to graduate from law school, spend a few years practicing at a firm, and then take a job as an in-house counsel. But in 2021 — an exceptional year for the legal industry in many respects — a novel trend is emerging.
There is a big difference between proclaiming expertise in an emerging practice area and actually delivering a top-flight offering.
Despite the general understanding that conflicts are an important factor, many law firms wait until the end of the lateral process to run conflicts, even when the candidate is a partner.
Lately, it seems that not a month goes by without partners from a top Biglaw firm leaving to form a new boutique.
May 28, 2021 at 8:54 AM Shares0 If you’ve paid any attention to the ballooning compensation figures of Biglaw partners in recent years, you already know that it pays to be an equity partner at a large firm. Meanwhile, as average partner compensation escalates, top in-house lawyers are being left behind. In 2020, a Major Lindsey & Africa survey of partners in “Am Law 200 size firms” found average compensation of above $1 million. The ALM Intelligence 2020 Law Department Compensation Benchmarking Survey found general counsel and chief legal officers earned average total compensation...