No. 2 Biglaw Firm In America Announces New Salary Scale For Associates
More money for hardworking associates is something that everyone can get behind. Congrats!
One by one, Biglaw compensation news continue to be announced, with some firms offering their associates the best holiday presents of all: higher salaries.
To that end, we’ve now confirmed that Latham & Watkins — a firm that brought in $5,321,007,000 gross revenue in 2022, putting it at No. 2 in the most recent Am Law 100 — has chosen to use the Cravath scale for its salary increases, meaning these are the salaries associates at the firm will see, effective January 1:
- Class of 2023 – $225,000
- Class of 2022 – $235,000
- Class of 2021 – $260,000
- Class of 2020 – $310,000
- Class of 2019 – $365,000
- Class of 2018 – $390,000
- Class of 2017 – $420,000
- Class of 2016 – $435,000
- Class of 2015+ – $445,000
It’s worth nothing that Latham is one of the few firms that’s offering higher salaries for its most senior associates, joining the likes of Sidley, Ropes, and Schulte. It’s also worth noting that these raises apply only to associates in the U.S., London, the Middle East, Beijing, Hong Kong, Seoul, and Tokyo (though the firm is “considering” adopting this salary scale in some of its other offices).
As far as bonuses are concerned, good things come to those who wait, and Latham associates will be rewarded for their patience in the coming weeks. Median bonuses at the firm are usually above market, and associates are looking forward to receiving good news soon.
Congratulations to everyone at Latham!
(Flip to the next page to read the full memo from the firm.)
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.
