One of the most storied names in Biglaw is disappearing. Weil Gotshal will close up shop after 95 years, following a partner exodus and a failed merger, Above the Law reports — a stunning fall for a firm that once defined the upper tier of corporate law.
Weil Gotshal Closing: What Associates Were Told
The farewell message to associates is a strange mix of generosity and business as usual. The firm is promising up to 90 days of salary and benefits for those departing, plus January bonuses for the associates who stick around through the wind-down — and, in a detail that tells you everything about Biglaw culture, a reminder to keep billing in the meantime.
Weil Gotshal’s fall has been remarkably fast, and the industry is still trying to figure out exactly how a firm of its stature unraveled this quickly. The combination of top partners walking out the door and a merger that fell apart left the firm with no path back.
Biglaw Salary Wars March On
Even as one giant falls, the rest of Biglaw keeps paying more. In the same week’s news, Fenwick & West will move associates on its 1,950-hour track to the $235K salary scale effective January 1, 2027.
DLA Piper, meanwhile, matched Milbank’s $235K scale and the summer special bonuses, then went further — adding enhanced bonuses worth up to 50 percent of market for every 100 hours an associate bills beyond 2,000.
The contrast is hard to miss: record paychecks for survivors at thriving firms, while a 95-year-old institution shuts its doors. For law students and junior associates watching the industry, Weil’s collapse is a reminder that even the biggest names are only ever one bad stretch from the end.
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Source: Above the Law — read the full story there.