The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
NEW YORK lawyers' salaries are set to spiral following huge wage hikes by middle-tier firm Cadwalader Wickersham & Taft. Its London-based associates have also been handed a bonus, with the promise of a big rise in July.
First-year staff at Cadwaladers, which, with 400 lawyers, is ranked 22nd among Manhattan-based firms, now enjoy a basic salary of $102,000 (£64,000), plus a guaranteed bonus of $5,000. The rise has leap-frogged Cadwaladers - not known as a big payer - over several top firms. For example, first-year associates at Davis Polk & Wardwell, traditionally one of the biggest payers, receive $3,000 less.
Cadwaladers denies the rise in associates' salaries will spark a wage war, saying it is simply to reward talented staff.
Cadwaladers marketing director Janet Zagorin told The Lawyer: "We are confident we have talented people and we believe you should treat them in a manner that befits their capabilities.
"This is not about beating other firms, and this is not about competition over money."
Zagorin says: "The London package will be at the top end of the market."
Cadwaladers enjoyed a particularly good year last year, according to Zagorin. She says the firm has taken on about 100 lawyers in little more than a year, making it, according to a recent survey, "the fastest growing law firm in the country".
A recent US survey of hourly billings across the profession revealed that fees as well as salaries were rising (The Lawyer 8 March).