Pay me what you owe me, say the rainmakers.
The post Partners Know What They’re Worth, So Biglaw Better Have Their Money appeared first on Above the Law.

Ed. note: Welcome to our daily feature, Quote of the Day.

You have to have the financial strength to pay people what they’re worth in the market.

— Frank Lopez, chair of Paul Hastings, in comments given to Bloomberg Law, on his firm’s aggressive recruiting of rainmaker partners for top dollar, which was one of the top trends of 2024 across the Biglaw landscape. At some firms, highly sought-after partners were able to collect $20 million or more to make a key lateral move.

Staci 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 Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.