Top Lawyer Comp Exceptional

On July 5, 2023

Wall Street lawyers now often make more than bankers according to a recent article from WSJ: “Equity partners at top law firms can make around $3 million or more a year,” and top rainmaking partners make more than $15 million. Why are lawyers making so much on Wall Street? While banker pay has been stagnating, […]

Compensation, Market

Inflation! Should You Be Expecting a Raise This Year? Spoiler Alert: No (Unless You are Very Special)

On May 7, 2023

WSJ reports a disconnect on worker versus employer expectations on raises this year. A majority of workers expect a bump because of inflation and rising cost of living, while employers struggle to contain costs. What do I foresee for lawyers? They have already received big raises and bonuses (including off-cycle ones) 2021 and 2022 as “employers […]

Compensation

Pay Transparency Laws & What You Should Be Doing

On January 22, 2023

In the past, employees negotiating their salaries had to guess at market compensation. Now, however, the information is public – employers must list the pay scale for job postings in California, Washington, Colorado, and New York. The purpose of pay transparency laws is to reduce the gender pay gap, which should be happening. So what else […]

Compensation

Have You Asked for Your Annual Education Budget? What to Say

On January 15, 2023

Time is almost up for California MCLE compliance! Since lawyers are required to stay abreast of developments in their field, many employers offer some kind of educational budget. I liked this post by Wes Kao, a serial entrepreneur and cofounder of Maven, a platform for courses, on getting your boss pay for classes. She notes […]

Compensation

What to Do if You Find Out Your Co-Worker Makes More

On December 11, 2022

I just read this WSJ article on what to do if you learn your co-worker makes more than you. This scenario is especially likely as pay transparency laws come into play. Five excellent points the article makes: Get as many data points as you can. “The more you know, the stronger your negotiating position is.” […]

Compensation, Interview, Job Search, Offer

On the Fence? You Should Do These 3 Things

On November 6, 2022

Some things in your job search you do without question, like preparing a resume or setting up a LinkedIn profile. Other things you might be on the fence about because you’re not sure they’re worth their time or you think they’re hard to do. Below are three things you should do because there is only […]

Compensation, Offer

New California Pay Transparency Law

On October 9, 2022

Effective January 2023, California employers with 15 or more employees must disclose pay ranges in job postings for applicants and also to employees upon request. (See SB 1162 signed September 27, 2022.) California joins the ranks of Colorado, Connecticut, Maryland, Nevada, Rhode Island and Washington, all states with some form of pay transparency law. New […]

Compensation, Offer

WSJ’s Tips on Getting a Raise: Do They Work for Lawyers?

On April 17, 2022

Inflation is up, and the market is still hot, so yes you can ask for more money. Wall Street Journal gives five tips on how to do it. Do they actually work for lawyers? You can negotiate more than base pay. Yes, this is true. In-house lawyers usually get base, bonus, equity, and a host […]

Compensation, Move, Offer, Title

What Can You Negotiate When You Receive an Offer?

On February 20, 2022

Congratulations, you received an offer! Now what can you negotiate? Lawyers are usually quite conservative and want to know precedent, so see below for the list of asks in order of frequency: Compensation. Most employers expect some negotiation over compensation. Compensation is typically made up of base, bonus, and equity, and usually one element (or […]

Compensation, Interview, Job Search

WSJ Reports on New Job Search Rules for 2022. What Applies to Lawyers?

On February 6, 2022

Last week the Wall Street Journal reported that “[w]orkers are quitting in record numbers. Salaries are up, and flexibility is in.” For this new environment WSJ gives updated job search rules. Which apply to lawyers? Here are the best ones: How to ask about flexibility. While it’s a valid question (perhaps the one driving you […]

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