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Associate Compensation Increases

By William C. Cobb
September 05, 2006

Among professional service firms, there is a definite increase in competition for talent. But competition for talent could indicate a commensurate increase in salaries and billing rates that will probably put tremendous pressure on law firms to be more efficient and effective in the delivery of legal services. This pressure will change a law firm's business model and culture. How will the staffing and business models change, and how will law firms use these trends to improve their competitive position? These issues will be the focus of this article.

The Changing Environment

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