Mr Zachary was asked what BigLaw can do to make their firms secure against the threat of their top lawyers leaving and how they are feeling. He replied, in the course of a Bloomberg Big Law Business summit: 'I wouldn’t use the word, in the context of the law business today, ‘secure,’ …so maybe the answer is less anxious.'

Income guarantees

Many firms have lost senior lawyers to higher-paying firms in the last couple of years. But, as the trend has accelerated, some practices have changed their remuneration system in order to allocate more profits to lawyers which bring in the most business. However, there is a concern that firms might be extending themselves too much in the promises that some make, in terms of income guarantees, to some of these lateral hires. Source: Bloomberg Business of Law