Feast or Famine Market Threatens Big Law’s Prestige Bubble

Welcome back to the Big Law Business column on the changing legal marketplace written by me, Roy Strom. This week, we look at how changes in associate pay may force some firms to change their prestige-driven strategies. Sign up to receive this column in your inbox on Thursday mornings.

There have been signs recently that the gap is widening between the richest Big Law firms and the rest of the pack. But the news this week—Wall Street firms unlocking war chests to boost partner pay and making splashy associate bonuses—brought that trend into sharp perspective.

First came news that ...