In a remarkable move to entice the cream of the crop in the field, Big Law firms – notably, Gibson Dunn and Jones Day – are offering plush incentives to outgoing US Supreme Court clerks. The allure of not just luxury experiences from gourmet meals to spa days but staggering signing bonuses of up to half a million dollars, has cast ample light on the escalating scramble for legal talent.
As reported by The Washington Post, the trio of firms aims to tap into the “unparalleled knowledge of the court” possessed by the young cohort of clerks who wind up their one-year Justice terms, making them a high-demand asset.
On the other side of the transaction, US firms are setting up shop in the UK legal market, with Ropes & Gray being the latest entrant. In line with other recent entrants, including Paul Hastings and Cleary Gottlieb, Ropes & Gray has escalated its pay from 147,000 to 165,000 pounds for newly qualified lawyers. This marks a 12% rise, reflecting the heat of competition in London’s legal realm. This development follows information from the Financial News.
Moreover, for 2024, Slaughter and May have made a decisive change to their pay scale. They have decided to embrace the “switch on/switch off” model as an inherent part of their policy for reduced hours pay for opt-in attorneys. However, the model is already attracting suspicion, with some observers questioning its effectiveness and the potential consequences for associates striving to make partner. More details about this topic can be found over here on Law.com.
Legal market insiders and eager law clerks could glean helpful insights about these trends and developments on the original article here on Bloomberg Law.