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Inside Legal Blogs - first-year associates, corporate firms

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                           Inside Legal Blogs
                           [By The Judge]
                           Hi, friends.


                           The September 12 post titled ‘’Rich Lawyers, Not-So-Rich Lawyers’’ at Footnoted, the Chronicle of Higher Education’s daily
                           look at academic blogs, says salary distribution for lawyers is a ‘’two-humped camel.’’ The lower hump primarily consists of
                           prosecutors, public defenders, and other public-interest lawyers earning salaries between $40,000 and $50,000. The higher
                           hump consists of first-year associates at corporate firms earning between $135,000 and $145,000 and spending their lives
                           working 80 hours per week.



Tom Collins, on morepartnerincome, posted          put together a multibillion-dollar bail-out          Stephen Susman and Benjamin Civiletti, who
a useful “Checklist for Increasing Law             plan similar to Bank of America’s recent             started billing at $,000 per hour last year.
Firm Productivity” on September . The            $2 billion deal. For further details, read the
list opens with Collins’s advice to “employ        September  post by David Gaffen in the             So there’s some justification for all of you
professional administrative staff to reduce        Wall Street Journal’s “MarketBeat.”                  who’ve been thinking of raising your fees.
opportunity costs (lost billable hours) of
partners involved in management.” His              Larry Bodine’s September 2 post, “$000/            That’s all for this week, friends. Take care.
September 2 post, “Why Some Law Firm              Hour Legal Fees in NY are a Marketing
Plans Never Go Anywhere,” is also worth            Opportunity for Everyone Else,” at his Law
more than a cursory glance.                        Marketing Blog reports that lawyers have
                                                   finally begun charging $,000 per hour, and
The news in the market is that law firm            as expected, it started in Manhattan. Top
Wachtell, Lipton, Rosen & Katz is working          lawyers from Simpson, Thacher & Bartlett
with Goldman Sachs and Countrywide                 as well as Cadwalader, Wickersham & Taft
Financial to help the home-mortgage lender         are apparently being paid at the same rate as




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Description: The September 12 post titled Rich Lawyers, Not-So-Rich Lawyers at Footnoted, the Chronicle of Higher Education's daily look at academic blogs, says salary distribution for lawyers is a two-humped camel. The lower hump primarily consists of prosecutors, public defenders, and other public-interest lawyers earning salaries between $40,000 and $50,000.
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