What this illustrates is that boutique firms aren’t constrained by legacy cost structures — they can price their expertise at a premium and direct more of that revenue back to the people doing the work. When a spinoff outpays its parent, it’s usually a sign that the founders built around a tighter, higher-value practice area and stripped out the overhead that was diluting compensation at the larger firm. The lesson for the broader market is that size and pay are far less correlated than they used to be.
— Michael McCready, Founder and Managing Partner of McCreadyLaw, in comments given to Above the Law about the readiness of boutique law firms to raise salaries in the latest salary wars. Even, notably, faster than the Biglaw firms they boutique split off from.
The post Why Are Boutiques So Much Quicker To Raise Associates’ Salaries Than Biglaw? appeared first on Above the Law.
What this illustrates is that boutique firms aren’t constrained by legacy cost structures — they can price their expertise at a premium and direct more of that revenue back to the people doing the work. When a spinoff outpays its parent, it’s usually a sign that the founders built around a tighter, higher-value practice area and stripped out the overhead that was diluting compensation at the larger firm. The lesson for the broader market is that size and pay are far less correlated than they used to be.
— Michael McCready, Founder and Managing Partner of McCreadyLaw, in comments given to Above the Law about the readiness of boutique law firms to raise salaries in the latest salary wars. Even, notably, faster than the Biglaw firms they boutique split off from.
