Benefits & Compensation
Our first-year associates have a starting salary competitive with the top Iowa law firms. The firm also provides the following benefits package:
- Health Insurance
- Dental Insurance
- Life Insurance
- Matching and profit sharing contributions to 401(k) Plan
- Cafeteria Plan offering opportunity to set aside pre-tax dollars for health, dependent care and adoption expenses
- Parental Leave
- Technology Allowance
Consideration for partnership starts at five and a half years. Our goal is to hire associates who become partners who, through their work and career longevity, continue the reputation of providing exceptional value to our clients. It is common for associates who start at Lane & Waterman to complete their careers here 35 years later.
The billable hour requirement 1,700 for the first year, 1,800 for second and third year, and 1,900 for fourth and fifth year.
Hands-on experience early in your career at Lane & Waterman is a cornerstone of the associate experience. We offer our associates work and experience in almost every area of the law. Our approach to associate development begins with the idea that exposing associates to a variety of work assignments helps them determine their areas of interest and practice focus. Initial assignments include research and writing projects, drafting briefs, client communication and conferences, negotiations, court appearances, discovery and depositions, and real estate and transactional closings. Our associates who want trial experience are exposed to the courtroom at an early point in their careers.
The firm provides 100 hours of creditable time for training in addition to billable hour requirements. All new associates learn various practice areas through working closely with partners, allowing them to decide their focus area as they develop their skills. Associates are also trained through firm meetings, orientation sessions, and attendance at local and state CLEs. This year, we added a new, unique component of training to develop business development skills for associates. Quarterly “lunch and learn” meetings provide opportunities to learn and discuss business development activities. Associates are also coached one-on-one on business development planning.
We encourage our associates to take on pro bono work. In 2018, the firm provided over 400 hours of pro bono work to H.E.L.P. Legal Aid and Prairie State Legal Services.