Elite New York Firms Finally Join Big Law’s Free Agent Era

New York’s elite law firms are taking a page from their hometown baseball teams: Splashing cash to sign the industry’s most valuable players. While the strategy has had mixed success on the baseball diamond, law firm managing partners are hoping it will help them stay on top.

Davis Polk & Wardwell is the latest Wall Street firm to make competing for high-priced partners a much bigger part of its long-term strategy, joining others that have made adjustments to compensation models to match the huge salaries some partners now command in an active lateral market.

Source: Elite New York Firms Finally Join Big Law’s Free Agent Era