THE WIDENING PAY GAP AT BIG LAW
Many of you know exactly what we’re talking about – the noticeable pay gap widening among partners at large firms. Since the economic downturn, the trend has become even more apparent. Firms are trimming everywhere they can and paying the “star” lawyers even more. Why? They need the business. Law firms don’t run solely on reputation and law school pedigrees. They need clients to be successful. It’s clear that they are making sure that lawyers who bring in clients make as much money as necessary to make them stay.
So, the key is to be one of the attorneys who can bring the clients. It’s absolutely critical that, as a partner, you are bringing cases and as an associate you are building the foundation to generate revenue. Do you have a book of business? If not, it’s time you get to work. We recommend reading our earlier blog series about how to bring business.
We want to hear from you, in the trenches. Do you see this trend at your own firm? What are you doing to bring more business to the firm?