My understanding of the price/scarcity dynamics here are that people want lawyers with significant experience, there are a relatively small number of openings every year for BigLaw associates that provide access to that kind of experience, and they hire almost exclusively from the T14 schools.
If you want a random lawyer, you can get them very cheap. But if you're doing M&A or serious corp litigation, you're looking at a much smaller and more expensive pool of candidates. I was shocked by how much our M&A lawyers cost.
All this is to say: the median might not be telling most of the story here.
If you want a random lawyer, you can get them very cheap. But if you're doing M&A or serious corp litigation, you're looking at a much smaller and more expensive pool of candidates. I was shocked by how much our M&A lawyers cost.
All this is to say: the median might not be telling most of the story here.