Spring Payouts Won't Pay Off For Firms, Experts Say

Law360, New York (May 6, 2011, 4:39 PM EDT) -- While BigLaw has mostly matched Cravath Swaine & Moore LLP's spring payouts by now, throwing extra cash at associates won't give firms an edge in retaining lawyers over those that failed to join the bonus frenzy, experts say.

For decades, firms have striven to match exactly what market leaders were paying for fear that morale would plummet and associates would flee if they did not, said Gary Klein, founder of legal search firm Klein Landau & Romm Inc.

“I think there has never been a scientific...
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