Ed. note: Welcome to our daily feature, Quote of the Day.
The rules are just flying out the window.
— Naomi Kaplan, a Los Angeles-based recruiter, in comments given to Reuters, concerning the eye-popping compensation packages Biglaw firms are using to lure star partners. With some rainmakers now commanding guarantees of $20 million or more, firms are taking increasingly expensive gambles on lateral hires, despite research showing that many fail to meet financial expectations or remain at their new firms for the long haul.
Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
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