There's a lot of #biglaw good news stories floating around at the moment. Kirkland & Ellis breaking the $7bn revenue barrier for one, DLA Piper and White & Case LLP both enjoying higher PEP for others.
But on the other end of the scale we are seeing some very poor financials from a few firms where profits are down and partner compensation dropping. Draws have been reduced and in some cases no bonuses are being paid, which particularly hurts the salaried partner levels. We are also seeing partner compensation bands being stretched to keep the top rainmakers sweet, but which has a negative impact on the mid ranked partners who are enjoying increased pressure for no financial reward.
If you are not one of the partners for whom life is rosy, and you are outperforming your current firm and / or are unhappy with your compensation, let's have a conversation about it.
You might find that financially you may not do any better anywhere else but knowing what your market worth is will either make you want to move because the grass really is greener, or pout your head down be more content to stay knowing you can't do any better elsewhere.
Reach out to your local contact in our global partner and strategy team:
Australasia: Jonathan Walmsley , Daniel Hogan , Ben Smith
US: Nick Welsh , Bridget McCarthy , David Nicol, Anita Taylor
London: Anita Taylor , Jonathan Marsden , Tim Andrews , Michelle Mills
Europe partners: Nick Paleocrassas , Ann-Marie Goodbody , Máiréad Cremins, Steve Salem
Middle East : Sonia Patel, Aaron Faith
Global : Jonathan Marsden
B.Eng
1moInspiring!