Abstracts » Law

Associate bonuses for firm stars

Article Abstract:

Star associates at New York's LeBoeuf, Lamb, Greene and MacRae can earn as much as 35% more than their peers, and firm partners who oversee the bonus program state that Le Boeuf might have boasted the best-paid first-year associate in New York in 1997. drawing more than $120,000 in base salary and bonuses. Firm leaders see their program, started in 1995, as a management tool to avoid the extra overhead of raising salaries across the board but still to keep top performers.

New York (State), LeBoeuf, Lamb, Greene and MacRae

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In the Bay Area, making partner bucks the odds; first-years' odds now range from 19% to 4%, causing many to look for other jobs

Article Abstract:

Law firm associates have only a slim chance of making partner at a big Bay area firm, with only an average of 1 in 10 achieving that distinction at the firm that employed them right out of law school, according to a Recorder survey of the top-grossing firms in that city. The odds are better for an associate who joins a law firm as a lateral, however, not by much, with only 17% becoming partners. The survey tracked associates from 1988 to 1990.

California, local

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Growing national by merger

Article Abstract:

Holland and Knight's corporate culture lends itself very well to the mergers with other law firms which it hopes will result in a network of lawyers stretching up and down the East Coast. These consist of a lack of competition, a decentralized power structure and a very efficient cost base. The firm's most recent merger was with the Orlando, FLA-based Maguire, Voorhis and Wells.

Mergers, acquisitions and divestments, Florida, Holland & Knight L.L.P., Maguire, Voorhis and Wells

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