As law firms in Washington, D.C.—as well as Baltimore and Richmond—battle to attract and retain top talent amid heightened competition in the lateral market, the distance between firms’ highest- and lowest-paid equity partners fluctuated last year.
Out of nine firms based in or with a large presence in D.C., Virginia and Maryland, three decreased their pay spread, three increased their pay spread, and three kept the same equity partner pay spread in 2023 compared with 2022, according to ALM survey data on pay ratios for firms in the Am Law 200.
