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Law Firm Economics — Recession Style

Published by on June 15, 2009

Former law clerks to the U.S. Supreme Court may no longer get $250,000 signing bonuses.  Law.com article here. “Cravath, Swaine & Moore LLP, the fifth-most profitable U.S. law firm, is offering $80,000 to incoming lawyers to defer their starting dates for a year, according to an internal memo obtained by Bloomberg News.”  Bloomberg.com article here.  […]

Former law clerks to the U.S. Supreme Court may no longer get $250,000 signing bonuses.  Law.com article here.

“Cravath, Swaine & Moore LLP, the fifth-most profitable U.S. law firm, is offering $80,000 to incoming lawyers to defer their starting dates for a year, according to an internal memo obtained by Bloomberg News.”  Bloomberg.com article here.  The Business Insider has a story here.  The Manpower Employment Blawg has a post about the topic here.

As a client, are you excited about paying for attorneys who are doing no work for you to take a year off?  Do you really feel that you are getting great value from your law firm when they are using your fees to subsidize a $250,000 signing bonus for a lawyer who has never practiced law?  Just asking.

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