Money Train Pulling Into Top 50 Biglaw Firm
Big money coming to this Biglaw firm.
The countdown to the end of the year has begun and that means ‘tis the damn season for compensation news! When Milbank raised salaries last month, then Cravath came over the top for midlevel and senior associates, it sparked a flood of firms matching those new compensation numbers.
The latest firm to get on the money train is Foley & Lardner. The firm made over a billion dollars in gross revenue last year — $1,080,332,000, to be precise — and they’re going to share that largesse with associates.
The new compensation grid at the firm is as follows — effective on February 1st:
The firm has maintained its tradition of paying 2nd years slightly more than the industry average — the Class of 2022 will actually earn $5,000 more at Foley than at Milbank. However, the grid ends at the $420,000/class of 2017 line, where as several firms have placed an extra class or two on the grid.
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Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Mastodon @Kathryn1@mastodon.social.
