Ed. note: Welcome to our daily feature, Quote of the Day.
At the top end of the market, among the largest and most profitable law firms, some of the compensation that’s reportedly being paid is unlike anything legal has ever seen. It sounds more like professional baseball.
— Kent Zimmermann, co-chair of the Zeughauser Group, a legal management consulting and advisory firm, commenting in the ABA Journal on the extraordinary compensation packages being offered to Biglaw’s most sought-after partners. Zimmermann described law as a “follow-the-money profession,” explaining that firms and their lawyers tend to prosper when businesses and the broader economy are performing well. “As firms get bigger and more profitable, they have more money to invest in the people, and that has led many firms to increase the level of compensation they pay to their lawyers,” he said.
Staci Zaretsky is the managing editor of 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.