Lawyers at large law firms aren’t worried, as many Americans are, about job security while the coronavirus pandemic continues to upend everyday life. Some of them are even collecting extra bonuses.
Many large law firms have excelled financially this year, even as some clients in sectors ranging from hospitality to retail have suffered. The most elite firms say they are on track for a record year, thanks to hot practice areas like restructuring and public-offerings work, and many are doling out extra money to lawyers this fall.
Firm leaders and consultants attribute the stability to lawyers’ ability to easily work from home, business that comes from a range of industries and practice areas, and a major reduction in travel expenses.
“It’s like building bridges in wartime—you prefer a different environment,” said Robert Hays, the Atlanta-based chairman of King & Spalding LLP. “But we’ve built the bridge. So in terms of