The April 1 New York Times features an article on the future of pay for associates in large firms, including the following excerpt:
Speaking on a recent panel at Stanford, Laura Stein, the general counsel of Clorox , said there was a rising awareness among in-house counsel that the traditional model was broken. “This system isn’t working because companies are paying for it,” Ms. Stein said. The challenge, she added, is how to adjust associate salaries to the work being done and restore value to clients.
Ms. Stein participated in a recent Stanford Center on the Legal Profession event (also mentioned in the article), Necessity is the Mother of Innovation: The Legal Profession in a New Economy.
Read the entire article here.