About 52% of lawyers surveyed by Law 360 Pulse are satisfied with their total compensation, but the percentage increases to 74% among lawyers working at firms that practice pay transparency.
Employers on both sides of the Atlantic hiring in the EU will need to track and report pay data accurately and ensure compliance with the new transparency requirements.
The need for high-quality legal counsel has not decreased, but the drop in compensation may make it harder for companies to find and retain the right talent.
Leading legal counsel for media giants earned on average between $5M - $11M last year, amid expanding responsibilities in a fast-changing environment facing copyright, antitrust, compliance challenges.
The Georgetown University CEW report highlights significant earnings disparities among law graduates, while top firms compete for elite legal talent in unprecedented salary increases.
A Bloomberg Law article addressing the seemingly unsustainable growth of law firm rates got a lot of attention this week, and pointed out that smaller firms struggle to raise rates as fast as their larger peers.
PwC's study reveals legal professionals with AI skills could see a significant increase in earnings, with potential wage premiums up to 49% in the US and 27% in the UK.
Lawyers representing a Tesla investor are requesting $6B in legal fees, payable in Tesla stock, after successfully challenging Elon Musk’s $55.8B pay package.
