It wasn’t too long ago that we learned the world’s richest law firm, Kirkland & Ellis, is using referral bonuses to help it secure top lateral talent. But they aren’t the only firm using cold, hard cash to entice attorneys. A&O Shearman — the newly merged (in May) firm that combined Allen & Overy with Shearman & Sterling — is also offering up $50,000 for the successful placement of an associate or counsel.
The big bonuses aren’t wild when the market is booming. And the increased frequency is a really good sign for the legal industry — particularly after the sluggishness seen in corporate departments last year.
A spokesperson told Law.com that these personal referrals help build a sense of community at the firm. “This program is designed to incentivize and reward our people for tapping into their professional and social circles to recommend individuals whose skills and values align with the needs and culture of our firm,” they added.
Plus A&O is in the process of finalizing an alumni referral program — for $25,000 — so that even those who have left the firm can get in on the cash.
What is your firm doing to lure in qualified associates — we want to know! Please don’t hesitate to get in touch with us. Email us at [email protected], send a text message to (646) 820-8477, or click here to submit a tip.
Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Mastodon @[email protected].