— as evidence of the trend.
There are several factors affecting the rise in lawyer pay, as outlined in the story, but perhaps more interesting is how compensation for bankersInvestment banking fees have largely remained unchanged over the years, per the WSJ, which is why the average total comp from a non-high-ranking managing director is between $1 million to $2 million. That figure has largely remained the same over the past 20 years.
Lawyers, meanwhile, have been more cognizant than bankers of the fact that the price of things tends to go up. Most large law firms increase their rates by about 4% annually, according to the WSJ. As a result, equity partners at big firms now average upward of $3 million a year in comp.
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