Highest paid partners make 10x more than colleagues
There is a growing divide between the biggest rainmakers at large law firms and their colleagues, according to Steven Harper, the Northwestern professor and author of 'The Lawyer Bubble: A Profession in Crisis'. Harper show that the highest-paid Biglaw partners used to make three times more than their run-of-the-mill colleagues. Today, rainmakers can pull down ten times more.comments powered by Disqus
The present situation derives from a frenzy of lateral hiring, in which partners bringing in a large book of business are lured in with generous pay packages. This strategy has been criticised as uneconomic and destructive of firm culture.