JOURNAL ARTICLE

Tips on Estimating Compensation Among Legal Professionals.

  • Published In: Major Gifts Report, 2024, v. 26, n. 3. P. 5 1 of 2

  • Database: Business Source Ultimate 2 of 2

Abstract

According to Joel Thomas, senior director of development at Vanderbilt University Law School, not all attorneys are good prospects for major gifts, despite the high earning potential of the legal profession. Big firms with over 100 attorneys and multiple locations offer the best opportunities, with associates potentially earning up to $475,000 a year after six to eight years. However, the partner designation no longer carries the same weight, as there are now equity and nonequity partners, with the latter typically earning less. Thomas suggests researching law firm websites and sources like American Lawyer and the National Association for Law Placement to find information on remuneration. The best prospects for major gifts are partners in Am Law's 100 firms or general counsel in Fortune 500 companies, followed by general counsel for publicly traded companies. Solo practitioners and attorneys at smaller firms can be harder to assess, but personal-injury and mass tort lawyers who take a percentage of recoveries can be good prospects. [Extracted from the article]

Additional Information

  • Source:Major Gifts Report. 2024/03, Vol. 26, Issue 3, p5
  • Document Type:Article
  • Subject Area:Law
  • Publication Date:2024
  • ISSN:1527-7712
  • DOI:10.1002/mgr.32321
  • Accession Number:175167597
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