The compensation of corporate lawyers has come under scrutiny as eight-figure pay packages become increasingly common. Top Wall Street lawyers are now earning up to $20 million annually, a figure once reserved for elite athletes. This trend is particularly notable among lawyers involved in private equity deals. Critics argue that such high compensation is unjustified, especially when lawyers charge exorbitant fees to bankrupt companies. Partner pay at firms like Linklaters is also rising, nearing £2 million. The growing disparity in pay raises questions about the influence and role of corporate lawyers in legislative processes. Private equity deal lawyering is considered a commodity service, adding to the controversy.
There's a scandal in here. Private equity deal lawyering is a commodity service, there's no reason to get paid $20M a year unless they are offering something other than good lawyering. https://t.co/U39MFAHhSj
Partner pay nears £2mn at Linklaters https://t.co/1SoO2HWdoW
A $20 million pay package. No, it’s not the NBA. It’s what some top Wall Street lawyers are making. https://t.co/GedjusQcJe