Category: News Feeds

Firm
Date
Matched
Minimum
Hours
Payout
Date
Milbank
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2016:
$115K
/
$25K FIRST
MOVER
November
11,
2024 None On
or
before
December
31,
2024
Vartabedian
Hester
&
Haynes
Class
of
2024:
$15K
/
$6K
Class
of
2016:
$115K
/
$25K November
13,
2024 1800
hours On
or
before
December
31,
2024
Cravath
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017:
$115K
/
$25K November
19,
2024 None December
13,
2024
Paul
Hastings
Class
of
2023:
$20K
/
$6K
Class
of
2017+:
$115K
/
$25K November
20,
2024 2000
hours February
14,
2025
Ropes
&
Gray
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2016+:
$130K
/
$25K November
20,
2024 1900
creditable
hours
(increased
bonuses
for
associates
who
annualized
above
hourly
target) December
24,
2024
Fried
Frank
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
20,
2024 1850
hours
for
special
bonus
(including
billable,
pro
bono,
qualified
nonbillable,
and
firm
matter
hours);
associates
eligible
for
“premium”
bonus
ranging
from
$3K
to
$34.5K On
or
before
December
31,
2024
McDermott
Will
&
Emery
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
20,
2024 2000
hours
(merit
bonuses
available
for
eligible
associates;
“two-thirds”
of
associates
will
see
bonuses
above
market) December
27,
2024
Cleary
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
21,
2024 None December
20,
2024
Paul
Weiss
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
21,
2024 None December
20,
2024
Dechert
Class
of
2023:
$20K
/
$6K
Class
of
2017+:
$115K
/
$25K November
21,
2024 1950
hours
(client
billable,
pro
bono,
firm
as
client,
maximum
of
50
community
hours);
associates
who
exceeded
hours
expectations
eligible
to
receive
an
“extraordinary”
bonus
(i.e.,
2200
hours
=
addt’l
30%;
2400+
hours
=
addt’l
40%);
“enhanced”
bonuses
up
to

130%
above
market
available
on
top
of
“extraordinary”
bonus
for
those
with
high
billable
hours By
or
before
end
of
January
2025
O’Melveny
Class
of
2024:
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
21,
2024 None Undisclosed
Holwell
Shuster
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
21,
2024 None On
or
before
December
31,
2024
Davis
Polk
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
22,
2024 None December
27,
2024
Weil
Gotshal
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
22,
2024 None January
31,
2025
White
&
Case
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017:
$115K
/
$25K November
22,
2024 Eligibility
criteria
detailed
in
separate
memo February
14,
2025
Skadden
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
or
$125K
/
$25K November
22,
2024 1800
“productive
hours”
(including
unlimited
pro
bono
time
and
up
to
150
hours
of
productive
non-billable
work) December
13,
2024
Cadwalader
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2016:
$115K
/
$25K November
22,
2024 Additional
bonuses
“equal
to
120%
of
[market
bonuses]”
for
high
billers
with
2200
hours
or
more By
or
before
end
of
February
2025
Proskauer
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2016:
$115K
/
$25K November
22,
2024 None On
or
before
December
24,
2024
Schulte
Roth
&
Zabel
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
22,
2024 2000
hours;
step-up
bonuses
from
$3K
to
$51.75K
for
associates
who
have
made
“extraordinary
contributions”
to
the
firm) January
27,
2025
Covington
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
22,
2024 2000
hours;
(associates
will
see
a
10%
bonus
increase
at
2200
hours,
and
another
10%
bonus
increase
2400
hours) January
2025
Willkie
Farr
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
22,
2024 None December
31,
2024
Akin
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
22,
2024 1950
hours
(including
pro
bono
hours,
general
counsel
hours,
business
development
hours,
and
up
to
100
hours
of
time
spent
on
recruiting,
diversity
&
inclusion,
and/or
innovation
activities);
associates
with
“exceptional”
performance
will
receive
larger
bonuses February
2025
Sidley
Class
of
2023:
$20K
/
$6K
Class
of
2016:
$115K
/
$25K November
25,
2024 2000
hours
required
for
base
bonuses;
associates
with
“higher
productivity
and/or
exceptional
performance”
will
receive
additional
bonuses,
up
to
“more
than
50%
above
base
bonus” Prior
to
December
31,
2024
Baker
Botts
Class
of
2023:
$20K
/
$6K
Class
of
2017+:
$115K
/
$25K November
25,
2024 2000
hours
(1800
client
billable
hours
and
200
non-client
billable
hours,
including
pro
bono,
business
development,
etc.);
“enhanced”
bonuses
available
for
“exceptional”
performance;
special
bonuses
reportedly

require
2000
client
billable
hours
for
eligibility Undisclosed
A&O
Shearman
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
25,
2024 2000
hours
(including
a
minimum
of
25
pro
bono
hours
and
up
to
100
investment
hours
(e.g.,
DEI/mental
health;
personal
development/training;
community
involvement;
management
&
talent
development;
knowledge
development;
origination,
client
relationships,
business
development;
and
market
innovation
group)) January
31,
2025
Katten
Muchin
Class
of
2023:
$20K
/
$6K
Class
of
2017+:
$115K
/
$25K November
25,
2024 2000
hours
(2100
hours
for
$22K-$126.5K;
2200
hours
for
$24K-$138K;
2300
hours
for
$26.5K-$149.5K;
2400
hours
for
$31K-$172.5K);
additional
“superstar”
bonuses
available February
3,
2025
Vinson
&
Elkins
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
25,
2024 Based
on
hours
and
good
standing;
“supplemental
bonuses”
available
for
associates
who
had
an
“exemplary
year” On
or
about
January
31,
2025
Debevoise
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
26,
2024 None Undisclosed
Clifford
Chance
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
26,
2024 None
(based
on
overall
performance,
quality
of
work,
contributions
to
firm,
teamwork,
and
pro
bono) January
15,
2025
Mayer
Brown
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K November
26,
2024 2000
hours;
associates
eligible
for
addt’l
bonuses
based
on
performance February
28,
2025
Gibson
Dunn
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017:
$115K
/
$25K November
27,
2024 Undisclosed Undisclosed
Seward
&
Kissel
Class
of
2023:
$20K
/
$6K
Class
of
2017+:
$115K
/
$25K November
27,
2024 2000
hours
(1850
billable
hours
and
150
qualified
non-billable
hours);
2200
hours
for
special
bonus
(1850
billable
hours
and
150
qualified
non-billable
hours;
associates
who
“substantially”
exceed
the
eligibility
requirements
for
special
bonuses
may
receive
an
“increased”
special
bonus) First
quarter
of
2025
Fish
&
Richardson
Entry-Level:
$15K
/
$6K
(prorated)
A7:
$115K
/
$25K November
27,
2024 2100
hours
(including
up
to
200
pro
bono/DEI/pitch
hours)
or
strongest
reviews
based
on
quality
of
work December
26,
2024
Morgan
Lewis
Class
of
2023:
$20K
/
$6K
Class
of
2017+:
$115K
/
$25K November
27,
2024 1900+
hours
(20
of
which
must
be
pro
bono
hours) January
31,
2025
Wilkinson
Stekloff
Class
of
2024:
$22.5K
/
$6K
Class
of
2017:
$172.5K
/
$25K December
3,
2024 None By
December
13,
2024
Norton
Rose
Fulbright
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K December
3,
2024 1900
hours
(including
50
FIT
hours)
for
special
bonus
eligibility January
31,
2025
Kramer
Levin
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K December
4,
2024 Eligible
associates
in
good
standing
will
receive
bonuses February
14,
2025
Cahill
Class
of
2024:
$15K
/
$7.5K
(prorated)
Class
of
2016:
$115K
/
$40K December
5,
2024 Select
associates
in
Classes
of
2017-2020
who
have
demonstrated
“extraordinary”
performance
eligible
for
a
“super
bonus”
up
to
$200K
(based
on
performance
and
seniority)
in
lieu
of
special
bonus Second
half
of
January
2025
Ross
Aronstam
Class
of
2022:
$30K
/
$10K
Class
of
2016:
$115K
/
$25K December
5,
2024 None December
15,
2024
AZA
Class
of
2024:
$15K
/
$6K
Class
of
2021:
$57.5K
/
$15K December
6,
2024 None
(based
on
overall
performance;
bonuses
for
elder
class
years
are
individualized) December
13,
2024
Perkins
Coie
Class
of
2024:
$15K
(prorated)
/
$6K
Class
of
2017+:
$115K
/
$25K December
6,
2024
December
27,
2024
(special
bonuses) Undisclosed;
associates
report
no
special
bonuses
are
being
awarded;
firm
reversed
course
on
special
bonuses
after
weeks
had
passed Undisclosed
Boies
Schiller
Flexner
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K December
10,
2024 2000
hours
for
associates
on
the
“market”
system;
95%
of
associates
received
bonuses
as
high
as,
and
in
most
cases
higher
than
market
system
bonuses;
several
associates
received
bonuses
of
$300K+,
while
others
received
bonuses
of
$1M+ Week
of
December
9,
2024
Winston
&
Strawn
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K December
10,
2024 2000
hours
(additional
bonus
money
for
associates
who
“substantially
exceed”
productivity
goals);
for
special
bonus,
associates
who
meet
or
exceed
their
hours
will
receive
100%;
associates
who
meet
75%
or
more
of
their
hours
will
receive
75%;
associates
between
50-74%
of
their
hours
will
receive
50%;
associates
who
are
under
50%
of
their
hours
will
receive
0% End
of
January
2025
Sullvan
&
Cromwell
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K December
11,
2024 Undisclosed December
23,
2024
Freshfields
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K December
11,
2024 Undisclosed Undisclosed
Linklaters
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K December
12,
2024 1900
hours
(including
unlimited
pro
bono,
up
to
400
hours
of
marketing,
and
other
work);
special
bonuses
awarded
to
associates
with
“higher
productivity”;
the
firm
is
reportedly
requiring
1650
client
billable
hours
for
special
bonus
eligibility December
31,
2024
Pillsbury
Fall
Hires:
$15K
/
$6K
(prorated)
SA
2/Counsel:
$115K
/
$25K December
12,
2024 1700
client/2000
creditable
hours
for
base
bonus;
1900
client/2200
creditable
hours
for
Super
Bonus
1
($20K-$25K,
by
class
year);
2100
client/2400
creditable
hours
for
Super
Bonus
2
($30K
all
class
years);
market
special
bonuses
not
included Undisclosed
Selendy
Gay
Class
of
2024:
$17.25K
/
$6K
(prorated)
Class
of
2017+:
$132.25K
/
$25K December
12,
2024 None
(some
associates
will
receive
even
more
bonus
money
based
on
performance,
hours,
and
firm
citizenship;
some
associates
received
bonuses
more
than
50%
above
market) December
13,
2024
Axinn
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K December
12,
2024 2000
hours;
“extraordinary”
bonuses
available
to
associates
who
surpassed
their
billable
hours
threshold By
December
20,
2024
Gjerset
&
Lorenz
Class
of
2024:
$15K
Class
of
2017:
$115K December
12,
2024 1900
hours
for
base
bonus;
2000
hours
for
$20K-$130K
bonus;
2100
hours
for
$28K-$150K
bonus;
2200
hours
for
$35K-$165K
bonus;
maximum
potential
bonuses
of
$55K-$330K;
additional
bonuses
to
be
paid
out
over
the
next
four
quarters,
with
the
first
installment
on
March
31,
2025 Undisclosed
Elsberg
Baker
&
Maruri
Class
of
2024:
$26.25K
/
$6K
Class
of
2017+:
$201.25K
/
$25K December
12,
2024 Undisclosed Undisclosed
Rolnick
Kramer
Sadighi
Class
of
2024:
$15K
/
$6K
Class
of
2017+:
$115K
/
$25K December
12,
2024 Undisclosed;
the
firm
reportedly
awarded
bonuses
ranging
up
to
150%
over
the
prevailing
market
rate
to
associates Undisclosed
Bursor
&
Fisher
Class
of
2023:
$50K+
Class
of
2020+:
$400K+ December
12,
2024 Undisclosed;
bonuses
are
based
on
business
origination
and
revenue;
highest
bonus
awarded
was
$725K Undisclosed
Cohen
Ziffer
Class
of
2023:
$20K
Class
of
2017+:
$115K December
13,
2024 Undisclosed;
“in
exceptional
circumstances,”
associates
may
receive
higher
bonuses
“based
on
individual
performance” December
13,
2024
Quinn
Emanuel
Class
of
2024:
$15K
/
$6K
Class
of
2017+:
$115K
/
$25K December
13,
2024 2000-2099
hours
for
$10K-$76.6K;
2100-2399
hours
for
base
bonus;
2400-2699
hours
for
$18K-$138K;
2700+
hours
for
$20.25K-$155.25K Week
of
December
16,
2024
McKool
Smith
Class
of
2024:
$15K
(prorated)
Class
of
2017+:
$115K December
13,
2024 Undisclosed;
high
billers
will
receive
additional
bonus
money,
with
some
exceeding
the
Milbank
scale
by
more
than
35%;
firm
previously
awarded
summer
bonuses
based
on
hours
(1900
hours
for
$2.5K;
1900-2199
hours
for
$7.5K;
2200-2299
hours
for
$10K;
2300-2399
hours
for
$15K;
2400-2599
hours
for
$20K;
2600+
hours
for
$30K) Undisclosed
Susman
Godfrey
Class
of
2022:
$110K
(median)
Class
of
2015:
$260K
(median) December
17,
2024 None Undisclosed
Yetter
Coleman
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K December
17,
2024 Undisclosed;
“outstanding”
performances
will
be
rewarded
with
“even
higher”
bonus
amounts December
20,
2024
Hogan
Lovells
Class
of
2023:
$20K
/
$6K
Class
of
2017+:
$115K
/
$25K December
17,
2024
December
29,
2024
(special
bonuses) 2000
hours
(including
up
to
150
pro
bono
hours
until
associates
meet
1850
hours,
then
unlimited
pro
bono
hours,
and
including
up
to
50
D&I
hours,
if
they
have
billed
at
least
1800
hours);
additional
bonuses
available
for
those
who
exceed
hours
minimums;
associates
report
no
special
bonuses
are
being
awarded;
firm
reversed
course
on
special
bonuses
after
weeks
had
passed End
of
December
2024
for
year-end
bonuses;
end
of
February
2025
for
special
bonuses
Orrick
Associate
Year
1:
$20K
/
$6K
Senior
Associate
Year
2+:
$115K
/
$25K December
18,
2024 Undisclosed December
31,
2024
(special
bonuses);
Mid-February
2025
(merit
bonuses)
Hueston
Hennigan
Class
of
2023:
$20K
/
$6K
Class
of
2017+:
$115K
/
$25K December
18,
2024 Based
on
class
year,
hours,
and
good
standing;
all
bonus-eligible
associates
reportedly
received
above-market
bonuses
(with
some
receiving
two
or
more
times
the
market
bonus
for
their
class) Undisclosed
Sheppard
Mullin
Level
A1:
$20K
/
$6K
Level
C2:
$115K
/
$25K December
19,
2024 2000
hours
for
base
bonus
and
special
bonus
(1950
hours
for
$10K-$57.5K;
2200
hours
for
$22K-$126.5K;
2400
hours
for
$$24K-$138K) January
17,
2025
Irell
New
Associate:
$45K
(prorated)
7th
Year
(Class
of
2017+):
$175K December
19,
2024 Undisclosed;
further
supplemental
bonuses
to
be
awarded
in
April
or
May
2025 Undisclosed
Choate
Hall
&
Stewart
PA
&
SS:
$6K
Class
of
2024:
$6K
(prorated)
Class
of
2016+:
$25K December
19,
2024 Undisclosed;
“customary
annual
market
bonuses”
to
be
announced
in
March
2025 March
2025
Morrison
&
Foerster
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K December
20,
2024 Undisclosed;
high
hours
bonus
of
10/20/40%
of
base
by
class
year
($16.5K
(prorated)
to
$161K)
and
merit
incentive
bonus
of
10/20%
of
base
+
high
hours
by
class
year
($16.5K
(prorated)
to
$192.2K)
also
available;
potential
bonus
total
by
class
year
of
$21K
to
$218.2K Undisclosed
Arnold
&
Porter
Kaye
Scholer
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K December
20,
2024 2000
hours
for
base
bonus
(1800
of
which
must
be
client
billable);
2200
hours
for
special
bonus
(2000
of
which
must
be
client
billable);
enhanced
bonuses
available
based
on
hours
(2400-2499
hours
(2200
must
be
billable)
for
10%
of
year-end
bonus;
2500-2599
hours
(2300
must
be
billable)
for
15%
of
year-end
bonus;
2600+
hours
(2400
must
be
billable)
for
20%
of
year-end
bonus) January
31,
2025
Alston
&
Bird
Class
of
2024:
$15K
/
$6K
(prorated)
Class
of
2017+:
$115K
/
$25K December
23,
2024 2000
hours
for
base
bonus
and
special
bonus Undisclosed
DLA
Piper
Class
of
2023:
$20K
/
$6K
Class
of
2017+:
$115K
/
$25K December
23,
2024 Bonus
eligibility
based
on
seniority,
performance
rating,
productivity
(the
firm
has
a
2000-hour
billable
goal),
compliance
with
firm
policies,
and
good
standing
status;
2000
hours
for
special
bonus;
enhanced
bonuses
available
for
those
with
performance
ratings
of
four
or
five,
as
well
as
associates
who
billed
more
than
2000
hours
(additional
bonus
increases
for
each
100
billable
hour
threshold
they
meet,
up
to
2700
hours) December
27,
2024
and
February
7,
2025
Perry
Law
Class
of
2023:
$25K
Class
of
2017+:
$120K December
23,
2024 The
firm
is
awarding
bonuses
that
“significantly
exceed
the
Cravath/Milbank
rate
(including
special
bonuses)”;
in
2023,
the
firm
paid
$5K
more
than
market
for
each
class
year By
or
before
the
end
of
December
2024
Massumi
+
Consoli
Class
of
2024:
$2.5K
/
$1.5K
Class
of
2016:
$115K
/
$25K December
24,
2024 1900
hours
(bonuses
may
be
further
adjusted
based
on
billable
hours,
performance
reviews,
and
extraordinary
contributions
to
the
firm) Last
payroll
of
December
2024
Holland
&
Knight
Level
0:
$15K
/
$6K
(major
market)
Level
7+:
$115K
/
$25K
(market
market)
Level
0:
$10K
/
$4.5K
(regional
market)
Level
7+:
$80K
/
$16.7K
(regional
market) December
27,
2024 2000
hours;
major
market
offices:
Atlanta,
Austin,
Boston,
Century
City,
Charlotte,
Chicago,
Dallas,
Denver,
Fort
Lauderdale,
Houston,
Los
Angeles,
Miami,
New
York,
Newport
Beach,
Philadelphia,
San
Francisco,
Stamford,
Tysons,
Washington,
D.C.,
and
West
Palm
Beach;
regional
market
offices:
Birmingham,
Chattanooga,
Jacksonville,
Nashville,
Orlando,
Portland,
Richmond,
Tallahassee,
and
Tampa;
additional
bonuses
awarded
to
associates
whose
performance
was
“exceptional”
(based
on
billable
hours
and/or
originations);
those
who
came
close
to
target
hours
threshold
will
be
considered
for
partial
bonuses First
quarter
of
2025

The
newly
released

2025
Report
on
the
State
of
the
US
Legal
Market,
prepared
by
the
Center
on
Ethics
and
the
Legal
Profession
at
Georgetown
Law
and
Thomson
Reuters,
doesn’t
quite
know
what
to
expect
for
firms
this
year.

On
the
one
hand,
a
“lucrative
2024”
placed
the
economy
on
sold
footing
and
many
of
the
key
factors
driving
that
growth
should
continue
to
hold
over
the
coming
year.
On
the
other
hand,
it’s
hard
to
sustain
growth
like
the
industry
enjoyed.

And
on
the
other

other
hand…

The
report
also
states
that
firms
will
likely
see
demand
weaken
in
2025,
compared
to
2024,
due
to
both
the
historic
difficulty
of
achieving
long-run
demand
growth
plus
uncertain
conditions
in
the
U.S.
and
global
economies.
However,
the
report
notes
that
results
of
the
U.S.
presidential
election
could
boost
demand
as
greater
levels
of
economic
and
geopolitical
instability
generally
see
clients
turn
to
their
lawyers
to
mitigate
risk.
In
addition,
the
2025
outlook
includes
expense
growth
remaining
at
elevated
levels,
putting
more
pressure
on
profits.

Ah.
The
“chaos
is
a
ladder”
theory
of
law
firm
demand.
You
have
to
credit
Thomson
Reuters
for
using
roughly
30
words
to
say,
“clients
need
lawyers
because
of
the
tire
fire
of
trade
wars
and
half-baked
deregulation
you
all
voted
for.”
Will
deal
lawyers
thrive
in
a
corporate
free-for-all
or
will
litigators
squabble
over
business
commitments
trashed
by
a
global
trade
war?
Either
way,
the
firms
win!

Until
the
economy
collapses
anyway.

Future
aside,
the
report
suggests
that
firms
owed
2024’s
boom
to
a
“year
of
anomalies.”
Growth
arrived
simultaneously
from
transactional
and
counter-cyclical
practices
in
a
sort-of
everything,
everywhere
all
at
once
effect
(without
the
interdimensional
war
for
survival).

Major
transactional
practices
—
corporate
(all),
real
estate,
and
tax
—
that
were
all
drags
on
firm
performance
in
2023,
improved
significantly
in
2024.
The
result
was
a
transactional
category
that,
as
a
whole,
rebounded
from
a
2.3%
contraction
in
2023
to
1.6%
growth
as
of
November
of
2024
on
a
year
to-date
basis.
Although
transactional
demand
has
not
yet
fully
recovered
to
the
heights
of
2021,
the
fact
that
it
is
now
returning
to
growth
mode
means
that
counter-cyclical
practices
that
have
performed
exceptionally
over
the
past
few
years
will
no
longer
experience
as
much
drag
from
transactional
work.

Indeed,
if
counter-cyclical
practices
(such
as
litigation)
had
simply
maintained
their
growth
paces
in
2024,
law
firms
would
already
have
performed
better
than
the
previous
couple
of
years.
Instead,
what
happened
was
an
acceleration.

Along
with
this
demand
bump,
firms
were
able
to
boost
rates,
“averaging
6.5%
growth
despite
weakening
inflation.”
While
the
report
says
“despite,”
this
fits
within
the
industry’s
overall
lagging
nature.
Recessions
hit
law
a
little
later,
recoveries
arrive
a
little
slower,
and
inflation
takes
a
bit
longer
to
absorb.
Expenses
also
steadied
in
2024,
meaning
firms
saw
more
demand,
willing
to
pay
more,
while
the
expenses
got
easier
to
manage
(if
still
high).

It’s
hard
to
shoot
the
moon
twice
in
a
row.

But
chaos
is
a
ladder.

2025
Report
on
the
State
of
the
US
Legal
Market
[Thomson
Reuters]

---

Joe
Patrice is
a
senior
editor
at
Above
the
Law
and
co-host
of

Thinking
Like
A
Lawyer.
Feel
free
to email
any
tips,
questions,
or
comments.
Follow
him
on Twitter or

Bluesky
if
you’re
interested
in
law,
politics,
and
a
healthy
dose
of
college
sports
news.
Joe
also
serves
as
a

Managing
Director
at
RPN
Executive
Search.

In
a
new

letter,
344
organizations
urged
the
new
Congress
—
which
was
sworn
in
on
Jan.
3
—
to
protect
and
strengthen
Medicaid.

The
letter
was
addressed
to
Senate
Majority
Leader
John
Thune,
House
Speaker
Mike
Johnson,
Senate
Minority
Leader
Chuck
Schumer
and
House
Minority
Leader
Hakeem
Jeffries.
Families
USA,
a
healthcare
consumer
advocacy
organization,
led
the
charge
for
the
letter.
Other
organizations
that
signed
the
letter
include
the
National
Alliance
on
Mental
Illness,
March
of
Dimes,
UnidosUS
and
the
Center
for
Health
Law
and
Policy
Innovation.

It
comes
as
several
Republican
legislative
proposals
aim
to
tighten
Medicaid
by
eliminating
or
significantly
underfunding
the
ACA
Medicaid
expansion,
according
to
the

Center
on
Budget
and
Policy
Priorities,
a
nonpartisan
research
and
policy
institute.
The
proposals
aim
to
do
this
by
restructuring
and
cutting
federal
funding
for
the
program,
or
undermining
long-standing
protections
for
enrollees.

In
the
letter,
the
organizations
noted
that
Medicaid
is
an
important
source
of
health
and
economic
security
for
80
million
Americans,
insures
38
million
children
and
covers
40%
of
births
in
the
U.S.

“The
importance
of
Medicaid
cannot
be
overstated.
…
It
is
the
single
most
important
source
of
financial
support
that
keeps
rural
hospitals
open
to
serve
the
health
needs
of
their
communities,”
the
organizations
stated.
“It
ensures
people
with
disabilities
can
access
critical
home
and
community-based
services
and
secure
meaningful
job
opportunities.
It
is
the
largest
payer
of
behavioral
health
services
in
the
country,
providing
essential
access
to
mental
health
and
substance
use
disorder
care.
And
it
helps
working
people
stay
healthy
so
they
can
afford
to
feed
their
families
and
send
their
kids
to
school.”

In
addition,
they
declared
that
cutting
Medicaid
was
not
something
Americans
asked
for
during
the
2024
election
cycle.
Doing
so
would
put
costs
on
working
class
families
and
betray
constituents,
they
argued.

“Proposals
to
cap
funding,
reduce
the
federal
share
of
Medicaid
spending,
establish
block
grants,
institute
work
reporting
and
community
engagement
requirements,
cut
state
revenue
from
provider
taxes
or
otherwise
undermine
the
fundamental
structure
of
the
Medicaid
program
all
have
the
same
effect,”
the
letter
stated.
“If
instituted,
Americans
will
lose
access
to
lifesaving
services,
states
will
be
strapped
with
massive
budget
holes,
hospitals
and
clinics
will
lose
revenues
and
be
forced
to
cut
staff
and
scale
back
services,
and
American
families
and
workers
will
be
unable
to
afford
essential
care
and
get
sicker
—
leading
to
a
loss
in
productivity
and
the
economy
suffering
as
a
result.”

The
organizations
added
that
if
the
119th
Congress
wants
to
lower
healthcare
costs,
“there
are
many
well-vetted,
commonsense
and
bipartisan
proposals
to
address
inefficiencies
and
inflated
prices
and
eliminate
waste
from
the
health
care
system.”
According
to
Families
USA,
these
proposals
include
closing
legal
loopholes
that
allow
drug
companies
to
increase
drug
costs,
strengthening
hospital
and
health
plan
price
transparency
and
reforming
physician
payment.

Photo:
designer491,
Getty
Images

*
Rudy
Giuliani
held
in
contempt
of
court
as
part
of
the
“find
out”
phase.
[

CNN]

*
Exxon
claims
green
interests
defamed
the
company
in
disparaging
its
recycling
efforts
ruining
its
existing
reputation
as
a
paragon
of
environmental
causes.
[Law360]

*
DOJ
says
state
bar
crossed
the
line
into
disability
discrimination
in
throwing
obstacles
in
front
of
substance-use
disorder
applicants.
[ABA
Journal]

*
Judge
allows
porn
in
Tennessee
for
now.
[ABC]

*
OMG,
OMG
Girlz
about
to
have
jury
award
cut.
[Bloomberg
Law
News]

*
DOD
settles
with
LGBTQ
vets
dismissed
over
their
sexual
orientation.
[CBS
News]

Sullivan
&
Cromwell
Brings
Back
5
Days
In
Office:

Nice
while
it
lasted.

Biglaw
Firm
Goes
Above
Market:

Dechert
shows
their
highest
billers
some
appreciation!

“Dangerous”
Rhetoric
Won’t
Stop
Judge
Merchan
From
Doing
His
Job:

Retroactive
presidential
immunity
seems
to
have
its
limits!

Fully
AI
Complaint
Did
About
As
Well
As
You
Should
Expect:

It
was
bad!

Second
Time’s
The
Same
Thing!:

Attorney
faces
his
second
disbarment.

Ed.
Note:
Welcome
to
our
daily
feature

Trivia
Question
of
the
Day!

The
Law
School
Admission
Council
(LSAC),
authors
of
the
Law
School
Admissions
Test
(LSAT),
recently
announced
who
as
their
new
president
and
chief
executive
officer,
effective
July
1,
2025?

Hint:
The
scholar,
the
first
South
Asian-American
woman
to
serve
as
dean
of
an
ABA-accredited
law
school,
currently
serves
as
the
dean
at
CUNY
Law.

See
the
answer
on
the
next
page.

The
last
time
we
mentioned
Rob
Kearney,
we
hoped
that
the
outrage
(over
him
sexually
harassing
his
pupils)
would
translate
to
a
more
serious
consequence
than
a
six-month
suspension
of
his
license.

That
was
back
in
2021.
2025
is
ringing
in
the
year
with
some
actual
consequences
—
not
just
once,
but
twice!
From

Legal
Futures:

A
barrister
who
won
a
bid
to
have
his
disbarment
for
sexual
harassment
reconsidered
has
been
disbarred
once
again.

…

A
BSB
spokesman
said:
“Mr
Kearney’s
actions
were
unacceptable
and
repeated
and
constituted
a
breach
of
the
BSB
Handbook.
This
conduct
is
not
compatible
with
the
standards
expected
of
the
profession
and
this
is
reflected
in
the
decision
of
the
tribunal
to
disbar
Mr
Kearney.”

Why
the
second
pass?
Because
lawyers
across
the
pond
still
give
a
damn
about
the
appearance
of
impropriety!
The
first
tribunal
came
to
the
conclusion
that
he
should
be
disbarred
before
he
had
the
chance
to
represent
himself.
As
evidence,
he
showed
emails
from
the
Tribunal
that
were
pretty
conclusive
about
his
behavior
and
assumed
that
there
would
be
a
high
likelihood
of
him
repeating
offenses
in
the
future.
After
the
Tribunal
acknowledged
that
there
was
apparent
bias,
they
allowed
for
an
appeal
to
their
initial
decision
—
this
was
followed
up
with
the
second
disbarment.

Three
cheers
for
due
process
and
kicking
predatory
behavior
out
of
the
profession!

Male
Barrister
Disbarred
Again
Over
Harassing
Female
Pupils
[Legal
Futures]

Earlier:

Attorney
That
Liked
To
Talk
About
His
Proclivity
To
‘Finger
Women’
Suspended

---

Chris
Williams
became
a
social
media
manager
and
assistant
editor
for
Above
the
Law
in
June
2021.
Prior
to
joining
the
staff,
he
moonlighted
as
a
minor
Memelord™
in
the
Facebook
group Law
School
Memes
for
Edgy
T14s.
 He
endured
Missouri
long
enough
to
graduate
from
Washington
University
in
St.
Louis
School
of
Law.
He
is
a
former
boatbuilder
who
cannot
swim, a
published
author
on
critical
race
theory,
philosophy,
and
humor,
and
has
a
love
for
cycling
that
occasionally
annoys
his
peers.
You
can
reach
him
by
email
at [email protected] and
by
tweet
at @WritesForRent.

This
year
is
gonna
be
fun
after
all!

For
years,
folks
on
the
left
criticized
intelligence.
If
you
preferred
that
people
write
in
standard
English,
the
left
said
that
you
were
propagating
systemic
racism.
Since
you,
a
member
of
the
middle
class,
grew
up
using
standard
English,
you
inflicted
that
improper
cultural
norm
on
others.

When
lawyers
suggested
that
you’d
never
win
a
case
in
court
if
you
wrote
briefs
in
non-standard
English,
the
criticism
from
the
left
simply
broadened:
“That’s
because
the
whole
judicial
system
is
infected
with
systemic
racism!
If
the
judicial
system
were
fair,
the
system
would
recognize
cultural
diversity.”

If
the
left’s
criticisms
were
limited
to
written
English,
they
wouldn’t
be
an
onslaught
against
intelligence
generally.
But
no:
Mathematics,
too,
reflects
a
Western-centric
culture,
and
math
is
used
to
perpetuate
inequality.

While
we’re
at
it,
the
entire
typical
college
curriculum
is
unfair,
compelling,
as
it
does,
students
to
read
the
works
of
dead
white
men.

To
be
a
good
liberal,
one
must
reject
learning.

I
was
dismayed
by
all
of
this
until
I
heard
the
response
from
the
right:

Hold
my
beer.

MAGA
chose
to
wage
war
on
the
elites
—
the
folks
who
actually
know
things
and
run
many
of
the
institutions
in
society.
Who
needs
’em?
Throw
the
bums
out!

It’s
funny,
isn’t
it?
Americans
take
pride
in
technological
advances
made
possible
only
by
brainpower.
Folks
huddled
around
television
sets
in
July
1969
to
watch
Neil
Armstrong
take
a
giant
leap
for
mankind.
Thomas
Paine,
the
administrator
of
NASA
at
the
time,
had
a
Ph.D.
from
Stanford;
I’m
pretty
sure
he
qualifies
as
an
elite.
And
I’m
no
rocket
scientist,
but
I
have
a
hunch
that
the
equations
that
took
Apollo
11
to
the
moon
were
probably
solved
by
mathematics,
and
the
memos
exchanged
by
NASA
scientists
were
written
in
standard
English.
The
same
people
who
today
struggle
to
scratch
together
money
for
food
own
fancy
iPhones.
Society
loves
what
smart
people
create.

But
if
you
ask
Joe
Bag-o’-Donuts
how
he
feels
about
smart
people,
he’ll
tell
you
that
he
has
no
use
for
damned
pointy-headed
intellectuals.
And
by
the
way,
do
you
have
another
cruller?

The
Republican
Party
is
now
tearing
itself
in
two
over
this
divide.
Vivek
Ramaswamy
criticized
American
anti-intellectualism
in
a
recent
tweet.
He
insisted
that
American
culture
favors
“mediocrity
over
excellence”
and
the
“jock
over
the
valedictorian”
—
which,
to
his
mind,
means
that
the
H-1B
visa
program
should
be
expanded
to
allow
educated
foreigners
to
fill
jobs
in
the
tech
industry.

Who’d
a
thunk
it?
Vivek,
like
Hillary
Clinton,
thinks
that
many
Americans
are
deplorables!

The
MAGA
crowd’s
response
to
Ramaswamy’s
tweet
was
predictable: 
He
should
go
back
where
he
came
from!

(No;
I’m
kidding.
Ramaswamy
was
born
in
Ohio.
But
Ohio’s
in
the
Midwest,
which
is
probably
near
the
Middle
East,
which
means
that
Ramaswamy
is
a
jihadist!
Quick
—
spread
the
word
on
Twitter!)

MAGA
deplorables
think
that
there
are
plenty
of
talented
Americans
to
fill
jobs
in
the
tech
sector,
and
Ramaswamy
is
just
a
misguided
billionaire
who
doesn’t
want
to
put
America
first.

So,
too,
is
Elon
Musk.
As
are
all
of
the
other
fabulously
rich
tech
bros
who
recently
decided
to
buy
their
way
into
government.

Poor
Donald
Trump’s
got
himself
a
heck
of
a
problem
here.
Who’s
he
going
to
support?
The
populist
wing
of
the
party,
which
elected
him?
Or
the
moneyed
wing
of
the
party,
which
financed
him?

The
dichotomy
between
the
two
halves
of
the
Republican
Party
will
reveal
itself
repeatedly
in
the
coming
year
or
two:
Should
America
decrease
regulation
in
ways
that
hurt
the
man
on
the
street
but
increase
corporate
profits?
Should
America
punish
China
with
tariffs
to
protect
American
jobs
or
let
Tesla
build
its
factories
there?

It
turns
out
that
the
billionaire
bros
and
the
MAGA
masses
won’t
always
agree
on
these
issues.

Will
it
be
possible
to
thread
this
needle?

For
me,
this
would
be
easy:
I
side
with
intelligence.
I
prefer
people
who
can
write
in
standard
English
and
understand
math,
and
I
don’t
mind
being
guided
in
fields
that
I
don’t
understand
by
people
with
advanced
degrees
(or
specialized
experience)
in
those
subjects.

But
I’m
obviously
in
the
minority.

In
any
event,
Trump’s
not
one
of
my
people:
Read
Trump’s
tweets
and
you’ll
see
that
he
has
no
command
of
the
English
language.
Look
at
Robert
F.
Kennedy
Jr.,
and
you’ll
see
that
Trump
doesn’t
think
it’s
important
to
understand
a
field
in
order
to
administer
it.

But
standing
by
the
MAGA
deplorables
will
cost
Trump
the
billionaire
bros,
and
Trump
won’t
like
to
be
rejected
by
the
rich.

I
thought
2025
would
be
a
depressing
year.

Perhaps
so,
but
it
will
be
a
heck
of
a
lot
of
fun
to
watch.

---

Mark Herrmann


spent
17
years
as
a
partner
at
a
leading
international
law
firm
and
later
oversaw
litigation,
compliance
and
employment
matters
at
a
large
international
company.
He
is
the
author
of



The
Curmudgeon’s
Guide
to
Practicing
Law and Drug
and
Device
Product
Liability
Litigation
Strategy (affiliate
links).
You
can
reach
him
by
email
at [email protected].

Ed.
note:
Welcome
to
our
daily
feature,

Quote
of
the
Day.

Historically,
lateral
partner
recruiting
was
a
fragmented
process,
often
handled
informally
by
an
assistant
to
the
managing
partner.
Today,
it
has
transformed
into
a
distinct
professional
function,
sometimes
involving
entire
teams
dedicated
to
identifying
and
securing
top
talent.

—
An
excerpt
from
a
report
by
Leopard
Solutions,
detailing
the

lengths
Biglaw
firms
are
willing
to
go
to
in
order
to
attract
and
retain
top
lateral
partner
talent.
Leopard
further
notes
that
“[f]irms
now
seek
not
just
logistical
support
but
also
strategic
contributors
who
can
analyze
market
trends,
identify
key
candidates,
and
integrate
them
effectively
into
the
firm’s
culture
and
operations.”
According
to
the
report,
Biglaw
firms
expect
lateral
partner
hiring
to
significantly
drive
their
growth
this
year,
and
on
average,
these
firms
are
budgeting
more
than
$4
million
to
hire
lateral
partners.

---

Staci
Zaretsky is
a
senior
editor
at
Above
the
Law,
where
she’s
worked
since
2011.
She’d
love
to
hear
from
you,
so
please
feel
free
to

email
her
with
any
tips,
questions,
comments,
or
critiques.
You
can
follow
her
on Bluesky, X/Twitter,
and Threads, or
connect
with
her
on LinkedIn.