Kent Zimmerman of Zeughauser, a consultancy to law firms, said in an interview with Bloomberg's Business of Law section, that Wall St practices had 'for a long time' been the top payers. More recently, however, other practices - notably Kirkland & Ellis, Latham & Watkins and Gibson Dunn - have begun to offer the same as or more than the traditional leaders.
Leaving lockstep
Instead of using the seniority pay scales employed in lockstep, these other firms are willing to offer very substantial reward deals to high-flyers who might still be in their 40s. 'Some firms have used their strengths in the comp [compensation] system to their advantage,' said Mr Zimmerman. Lawyers who are sought out by such practices do not see their packages increased 'a little bit' or even by 50%, he said. Instead: 'They get their compensation tripled in some cases.' Source: Bloomberg
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