Anyone know why they call market paying firms “Biglaw”? Why not “Top Dollar Firms”?

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I've always understood biglaw to be more about size than comp. Yes, most biglaw pays top of market buy only in major cities. Dechert is still biglaw in CLT or PHL, even though they're not paying NYC rates or even top rates for the area.

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CLT associates were billing more than anyone else in real estate I think - they had a very bad year during my tenure there where like the entire department basically quit from crazy burnout and then they had to start over with all new associates.

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Tacky

To make themselves sound better

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