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.
Top Technology firm revolts against salary war; NY firms yet to respond
Silicon Valley giant Wilson Sonsini Goodrich & Rosati has vowed to stand firm in the face of a new salary war and not increase its assistants' wages.
Rival firm Brobeck Phleger & Harrison announced across-the-board pay hikes of $10,000 (£6,790) last week, closely followed by local rival Gray Cary Ware & Freidenrich (The Lawyer, 22 January).
Wilson Sonsini says there is no need for more increases. Managing director for member compensation Steve Schatz says: "I think there are a lot of factors, and for many associates, given our entire package, we're more than competitive.
"We believe we're the leading firm in the area. We provide wonderful opportunities, a terrific client base and we think that the rational choice for young lawyers who have the opportunity, is to choose us."
He says the firm does not have a recruitment problem, but declines to comment on when it will next review the salary situation.
Brobeck has upped first-year base salaries from $125,000 (£84,880) to $135,000 (£93,000), with bonuses linked to billable hours adding another possible $35,000 (£24,000).
The refusal by Wilson Sonsini will signal the way for other Bay Area firms such as Cooley Godward and Morrison & Foerster to back out of a new salary war.
The salary increases, though, are starting to hit New York, with the announcement that Pillsbury Winthrop - a recent link-up of San Francisco's Pillsbury Madison & Sutro and New York firm Winthrop Stimson Putnam & Roberts - is matching Brobeck's hikes.
Pillsbury Winthrop has around double Brobeck's 85 lawyers in the City, but other New York firms are yet to respond to the increases.