An Audience With

Cleary Gottlieb boss Michael Gerstenzang: ‘The obsession with pay is overblown’

The elite US law firm’s managing partner says lawyers are motivated by more than money as a war for talent rages

Sunday 20 October 2024 at 23:00

‘People generally want to have satisfying careers where they feel respected, where they feel engaged, where they like and trust their colleagues’
‘People generally want to have satisfying careers where they feel respected, where they feel engaged, where they like and trust their colleagues’ Photo: Danilo Agutoli for FN

London has been a happy hunting ground for US law firms over the past decade. Some of the largest names from across the Atlantic have expanded into the City in a big way — and there is no sign of the trend slowing.

The market remains gripped by gossip and stories about spiralling pay at top US firms, with the new benchmark for leading partners now thought to be $20m.