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February 07, 2007

Get off your knees: "Law Firm Pay Rates And The Domino Effect"

"We want to attract and retain excellent lawyers." Blank Rome, Philadelphia, USA

See the article at Law Fuel--The Law News Network re: starting associate salaries between $135,000 and $160,000. I'll give the NYC white shoe firms a pass on this; NYC is expensive, especially if one values the pleasures of the flesh it offers, so what the hell. And, folks, I get competition and place-holding for talent. But, dudes, you ever hear of the "value movement"--which my firm started a few years ago. We pay first-years well, very well, and anyone with the credentials, a work ethic, real class and a passion to learn things the right way can go to www.hullmcguire.com/recruit.htm and take a shot......but $135,000 for brilliant kids who are marginally productive for 3 years and will get way more from you than they will ever give back in those years? Get off your knees, be part of a solution, start acting like business people, and do yourselves, the associates, me and your clients a favor: cut it out. Your associates (and partners) think you guys are chumps. Stop it. They'll respect you more and still sign up if you promise to teach them how to be great lawyers.

Posted by JD Hull at February 7, 2007 12:06 AM

Comments

I think this article somewhat describes why they are willing to pay more (there is a cost analysis that somewhat compares)...
http://www.bcgsearch.com/crc/billingrate.html

In short, all new employees will take longer. if you pay a little more upfront (but they can work a couple hours faster than the other new guy and takes up a little less time from the other employees), then they see it as a worthwhile investment.

Posted by: Joe at August 13, 2008 12:05 AM

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