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There was always going to be a day when the division happened. It’s now a matter of how far down the vault rankings will we see matches. Rankings will shift around a lot based on this. Pretty TTT to not match. The firms have the money, the partners just want to take home $900k instead of $875k.
Mentor
People have been saying that for ages, but it really hasn't been borne out.
If anything there are MORE market-paying firms than ever, and not only that, but in markets that were traditionally below-market (e.g. Atlanta).
Unfortunately, elite vs non-elite doesn't matter when every firm is fighting to hire and retain talent. Partners won't take home anything if they can't take on matters for lack of bandwidth. Do you want to have enough associates to staff your matters or not? Isn't there a saying you gotta spend money to make money? Most associates in big law are loyal to money. Period. Not to mention, when you pay more, you can expect more because the right to complain about being overworked kind of diminishes when the firm has to do something (like take on more work/clients) to sustain that salary increase.
Subject Expert
Every firm is not competing for the same talent or the same matters. And there’s very little reason for most firms to try to pay the same salaries as the very top firms.
So what about Lexus? It is made by Toyota but dressed up and pricier
Enthusiast
Arnold & Porter comes to mind
Like Greenberg Traurig begging everyone to complete the Vault survey a week after everyone else announces salary hikes without providing any