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Jan 24, 2025 | 
abovethelaw.com | Staci Zaretsky |Partner Issues
Ed. note: Welcome to our daily feature, Quote of the Day. [They] think by holding on to your money (assuming they have an agreement that says they keep it if you leave before it gets paid out) that that will trap you in the firm. It is not a common approach, and frankly those firms tend to have other problems they aren’t dealing with, hence they think they need golden handcuffs to keep people there.
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Jan 23, 2025 | 
abovethelaw.com | Staci Zaretsky |Partner Issues
Ed. note: Welcome to our daily feature, Quote of the Day. Lawyers are waiting to see what they’re going to be compensated. So I think this is the lull before the storm. — Kay Hoppe, a legal recruiter based in Chicago, in comments given to Bloomberg Law, on one of the reasons 2025’s lateral hiring may be off to a slow start. Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011.
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Jan 14, 2025 | 
abovethelaw.com | Staci Zaretsky |Partner Issues
Ed. note: Welcome to our daily feature, Quote of the Day. There are firms out there who say, ‘Here’s your bonus. We’re going to spread it out over one, two, maybe even three-quarters.’ In large part, it’s, one, for cash flow reasons, and two, it’s sort of like a golden handcuff. If you leave, you may not get the money.
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Dec 10, 2024 | 
abovethelaw.com | Kathryn Rubino |Partner Issues
Ed. Note: Welcome to our daily feature Trivia Question of the Day!According to a study of Am Law 100 firms by Pirical, which Biglaw firm had the lowest retention rate of lateral partner hires between 2020 and 2023? Hint: Technically, Shearman & Sterling had lower retention (60%), but that firm has since merged into A&O Shearman. See the answer on the next page.
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Dec 6, 2024 | 
abovethelaw.com | Staci Zaretsky |Partner Issues
Ed. note: Welcome to our daily feature, Quote of the Day. This trend isn’t over. I think it will continue, at least in a trickle, if not a wave. It’s a way for firms to save a lot of money. 2025 is shaping up to likely be a busy year at firms, [but] even given that, firms will forever try to protect their profit per equity partner, and so I don’t think we’re done with partners losing their equity if their books have shrunk or they’re billing fewer hours.
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Dec 5, 2024 | 
abovethelaw.com | Staci Zaretsky |Partner Issues
Ed. note: Welcome to our daily feature, Quote of the Day. We also anticipate the return of M&A, corporate and transactional work broadly across all segments, as interest rates continue to fall and market conditions improve. We expect that 2025 will be a very good year for law firms. — An excerpt from the 2025 Citi Hildebrandt Client Advisory, which details the legal industry’s strong footing as 2024 draws to a close, with even higher hopes for what 2025 will look like.
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Dec 2, 2024 | 
abovethelaw.com | Kathryn Rubino |Partner Issues
Ed. Note: Welcome to our daily feature Trivia Question of the Day!According to American Lawyer’s analysis of Am Law 100 firms that announced their new partner class by Nov. 25, continuing the trend over the last few years, what are the most popular practice areas for promotions, making up 22% of new Biglaw partners? Hint: Overall, the 2024 Biglaw partnership class was down 4% over last year. See the answer on the next page.
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Nov 18, 2024 | 
abovethelaw.com | Staci Zaretsky |Partner Issues
Back in June, the UK’s Solicitors Regulation Authority (SRA) referred Nicholas Williams, a former Freshfields partner, to its Solicitors Disciplinary Tribunal (SDT) in the wake of allegations of inappropriate conduct that took place in December 2017. Williams left the Magic Circle firm in December 2019 following an internal investigation into his behavior. As noted by the Global Legal Post, the SDT has reached a disciplinary decision.
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Nov 14, 2024 | 
abovethelaw.com | Staci Zaretsky |Partner Issues
* Law firm data breach implicates 300,000 patients. [Forbes]* Rudy Giuliani’s defamation lawyers want out, claiming their client is “taking action with which the lawyer has a fundamental disagreement.” Like, maybe, trying to defame the plaintiffs again? [Axios]* While Matt Gaetz received the highest legal appointment around, Trump also announced his pick for White House Counsel, tapping a Jones Day lawyer because of course.
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Nov 14, 2024 | 
abovethelaw.com | Staci Zaretsky |Partner Issues
On Wednesday, Cravath announced some major news — but no, it wasn’t the firm’s 2024 year-end bonus scale. Instead, the elite firm announced that it promoted seven attorneys to its partnership ranks. This year’s Cravath partner class is larger than that of 2023, by nearly double, and is quite corporate heavy.
