Latest Biglaw Firm To Raise Associate Salaries Proves Compensation Hikes Aren't Just For The Biggest Firms
Congrats on the raises!
It’s an easy call for the biggest in Biglaw to match the new associate compensation scale started earlier this year by Milbank and Cravath. Almost more interesting than a mega firm easily matching the raises, are the smaller outfits that are still proving they can keep up with the big dogs on salaries
Take for example the single-office firm, Choate Hall. The firm may have only had $311,956,000 in gross revenue last year, putting it in the second hundred of the Am Law ranking, but they have an impressive profits per equity partner number — over $3 million. Turns out that’s enough to get on board with the raises sweeping through Biglaw. In a Friday announcement, the firm told associates they’d all be getting raises in the new year.
The new compensation scale at the firm is as follows:
The full memo is available on the next page.
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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.
