Law \ Legal

The Biglaw Firms With The Best Compensation (2022)

Money transfer concept – $100 US dollar banknote with blurred motion effect.

What does it take to cultivate job satisfaction at a law firm? In a new report from BTI Consulting, associates pointed out exactly what they wanted from and valued in their work lives, and which firms were the best at committing to their overall happiness.

According to BTI, Biglaw associates are looking for these eight core activities from their firms when it comes to their overall professional happiness:

  • Commitment to helping associates in their career
  • Specific action to help develop a career path
  • Access to training they need
  • Good mentoring
  • Optimism about growing within their firm
  • High levels of job satisfaction
  • Being well paid
  • Having at least one partner watching out for them

After going evaluating 4,000 responses, BTI found that 147 Biglaw firms did the best job when it came to associate satisfaction. But which firms did the best in each category? Earlier this week, we covered the firms that were considered the best at helping associates in their careers and those with partners who have associates’ backs, as well as the firms that have helped associates build their careers and provided access to the training they want and need.

Today, we’re going to take a look at the thing that makes the world go ’round: money. Biglaw associates certainly enjoy being paid handsomely — and we here at Above the Law have tracked raises and bonuses for years — but there’s much more to compensation than just a dollar amount. Here’s what BTI evaluated:

Associates rely on a subjective formula to evaluate how well they are paid. This formula includes salary, bonus, competitive norms, hours of work expected, hybrid work policies, perceived control over working hours, treatment by partners, feedback, and the opportunity they see for themselves within the firm. Market rate salaries are minimum expectations.

That said, associates singled out 29 law firms that were able to offer a “winning comp combination,” but these eight firms were identified as the best of the best when it comes to all matters of compensation:

  • Baker Donelson
  • Choate
  • Debevoise & Plimpton
  • Faegre Drinker
  • Fenwick & West
  • Hunton Andrews Kurth
  • Katten
  • Milbank

Congratulations to each of these firms. When market money is just the baseline, providing associates with a better quality of life will get your firm a boost when it comes to overall “compensation.” Great work!

Associates Point to 29 Law Firms Where They Are Well Paid [BTI Consulting]

Staci ZaretskyStaci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.

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