Law Firm Business
BigLaw strategy, revenue, profitability, lateral partner moves, firm mergers, and partnership economics
BigLaw Profits Soar as Firms Tighten Equity Partnership Doors
Leading US law firms report record profits but limit equity partner promotions amid shifting partnership models.
Susman Godfrey’s 2026 Salaries Competitive but Vary vs. Market Raises
Susman Godfrey’s 2026 salary scale offers competitive pay above market for mid-level associates but aligns or trails at entry level amid BigLaw raises.
BigLaw Firms Shift from Lockstep to Market-Based Partner Pay Models
Top BigLaw firms like Debevoise and Cravath adopt market-driven partner compensation, reshaping partnership dynamics and talent strategies.
Legal Industry Tech Spending Climbs 9.7% Amid Rising AI Adoption
Law firms increase tech budgets 9.7% in 2025, driven by AI adoption and shifting client demands, boosting profits and reshaping operations.
BigLaw Equity Partner Pay Gap Widens with 40-to-1 Ratios
2025 data reveals growing pay disparities among BigLaw equity partners, with the highest PEP hitting $12.15M and average pay ratios at 12.3-to-1.
Milbank Raises Salaries to $235K, McDermott Matches Promptly
Milbank raises associate salaries to $235,000–$455,000 effective July 2026, prompting quick match by McDermott Will & Emery in BigLaw pay battle.
Time Crunch Slows AI Adoption in Solo and Small Law Firms
27% of solos and 33% of small firms say time limits AI adoption; over 70% use AI but few see revenue growth yet.
Sidley Austin Promotes 52 Partners via New Nonequity Tier
Sidley Austin announces largest partner class with 52 promotions, leveraging a nonequity partnership model that signals a shift in BigLaw structures.
Top Law Firm Awards Summer Bonuses Up to $35K in 2026 Pay Push
In June 2026, a leading law firm gave summer bonuses up to $35,000, highlighting rising pay trends affecting legal recruitment and retention.
Hogan Lovells and Cadwalader Merge, Launching New Global Law Firm
Hogan Lovells and Cadwalader merged on June 1, 2026, creating a $3.9B firm amid an industry consolidation wave impacting global legal services.
Hanson Bridgett Fully Adopts Claude AI in Legal Workflows
San Francisco's Hanson Bridgett integrates Anthropic's Claude AI across legal workflows for enhanced efficiency and innovation.
Legal Industry Sees Surge in Mid-Year Bonuses, Signaling Strong 2026
Data reveals significant increase in 2026 mid-year bonuses for legal professionals, highlighting robust law firm health and talent retention efforts.
BigLaw Lateral Hires Surpass Entry-Level for First Time in 2025
In 2025, BigLaw firms hired more lateral associates than entry-level lawyers, reshaping legal careers and talent strategies amid AI adoption.
Kirkland Managing Partner Calls for Mental Health Openness to Combat Burnout
Kirkland's Jon Ballis urges open mental health dialogue to reduce legal burnout and improve retention amid rising stress in law firms.
In-house Teams Lead Litigation, Challenging Law Firms' Roles
In-house legal teams increasingly initiate litigation, prompting firms to rethink strategies amid shifting client dynamics.