Beacon Hill's Laurie Flynn Shares Expertise in Mass Lawyers Weekly

May 30th, 2024

Laurie Flynn, Senior Consultant of BH Legal, recently contributed to a news article in Massachusetts Lawyers Weekly discussing the trends in associate hiring and salaries.  

Authored by Pat Murphy, the piece titled “‘Upward pressure’ on associate pay persists,” delves into Boston’s competitive legal market. Legal recruiters, including Laurie, note that firms must stay competitive with pay to attract top talent, driven by market pressures and the influence of the "Cravath Scale," which sets high benchmarks for associate salaries.  

On the topic of the Cravath Scale, Laurie stated, “If you’re looking at the top 30 law firms in Boston, at least 20 of those firms are on the Cravath Scale right now. The salary scale drops down for your mid-size or regional firms, but a boutique firm could still have a fairly high [salary scale] — for example, $200,000-plus for a first-year associate, if not the $225,000 [on the Cravath Scale].” She also noted that since the Cravath Scale is revised annually, later this year could see even higher ranges for associate pay. 

Despite a more stable post-COVID market, demand remains high, especially in areas like corporate law, regulatory compliance, intellectual property and life sciences. Commenting on hot practice areas, Laurie remarked, “Right now, transactional life sciences is very hot. We are seeing employment and litigation picking up. And real estate is starting to pick up after being a bit slow, particularly because the commercial real estate market has been slow.” 

Laurie’s insights underscore the persistent and competitive nature of Boston’s legal market. As firms strive to attract and retain top talent, they must navigate the pressures of high salary benchmarks set by the Cravath Scale and adapt to fluctuating market demands. Firms that remain agile and responsive to these trends will be best positioned to secure the brightest legal minds. 

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