Originally Posted by LegalBeagle

And I might add, most US firm associates don’t make even of counsel. Of counsel is an honour accorded only to the technically oustanding associates without a book of business. Of counsel make in excess of USD700k per year or more (depending on seniority), and don’t face billing pressure (though they still do BD, their butts aren’t on the line at the end of the fiscal year. Those who don’t make of counsel are either asked to take their last drawn pay (US$440k per year including bonuses) or leave.

That said, exit opportunities for US end of ladder associates are pretty good.

Life in US firms can be brutal, but all in all very rewarding. I’d do it all over again though, given the superior risk reward profile it offers over local firms.