Top Biglaw Firm Leaders Criticize Milbank’s Money Moves
Big money for even bigger billable hours requirements?
Ed. note: Welcome to our daily feature, Quote of the Day.
googletag.cmd.push( function() { // Display ad. googletag.display( "div-id-for-top-300x250" ); });[It’s] tone deaf. It’d be like saying, ‘Look how rich I am,’ when the economy is struggling.
— The anonymous leader of an Am Law 50 firm, in comments given to the American Lawyer, criticizing Milbank’s recent move to raise the Biglaw associate salary scale amid 2023’s slower demand for legal services. In additional comments given to the American Lawyer, an executive at an Am Law Second 50 firm said, “All we’re doing is continuing to put targets on these kids’ backs. Increasing salaries…causes them to increase salaries up the chain [and] increase billable hours for them. I just think they’re taking this pound of flesh out of them.”
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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 and Threads or connect with her on LinkedIn.
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Topics 2023 Associate Salary Increase, Biglaw, Bonus News Alerts, Bonuses, Milbank, Money, Quote of the Day
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Originally posted on: https://abovethelaw.com/2023/11/top-biglaw-firm-leaders-criticize-milbanks-money-moves/