Top partners at Simpson Thacher & Bartlett are expected to earn more than $20 million this year after the Wall Street law firm widened the spread between its highest and lowest-paid equity partners.
The move, which Simpson Thacher confirmed on Thursday, comes amid signs that the competition to hire and retain partners at the top of the market has never been fiercer. Other Wall Street firms have introduced compensation changes to offer higher pay to some new hires or their highest-performing partners.
“We intentionally made the decision to adjust our compensation structure to attract and retain the best talent ...