""M&A work is the engine of the [Biglaw] firms and a bellwether for associate hiring across firms, even in seemingly unrelated practices like litigation.""
""New deal flow is not what had been hoped for with a Republican administration... That is kind of a disappointment, and frankly, a surprise.""
Lawyers might need to lower their expectations for salary increases as the M&A market, crucial for Biglaw, is underperforming. The current Cravath scale is between $225,000 and $435,000, but there is reduced pressure on firms for raises. Although M&A activity rose nearly 19% in the first half of the year compared to last year, it fell short of prior expectations from a favorable political climate. Recruiters expect no significant salary movement in base pay for associates in 2025 due to the economic climate's impact on the legal industry.
Read at Above the Law
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