Can Your Firm Afford To Raise Associate Salaries? Probably!
Whether your firm will actually raise salaries even though it may be able to afford the costs is another story entirely.
Ed. note: Welcome to our daily feature, Quote of the Day.
It’s really not that large when you actually dive into it. You have to remember, it’s also not an automatic pass-through from a salary increase to a bill. Every bill is a negotiation these days. Can most firms afford it? Yes.
— Law firm consultant Brad Hildebrandt, of Hildebrandt Consulting, in comments given to the American Lawyer on whether Biglaw firms will be able to afford the long-term costs of raising associate salaries, and why pay raises won’t necessarily equal larger bills for clients.
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 Twitter and Threads or connect with her on LinkedIn.
