Simpson Thacher & Bartlett's decision last month to raise first-year associate salaries to $160,000 raised eyebrows -- but competitors and legal consultants question whether another pay increase makes sense. They point out that while it's tough to retain associates, pay isn't those attorneys' main gripe. In fact, a higher salary "puts more pressure on productivity and hours," says Robert Link Jr., managing partner of Cadwalader, Wickersham & Taft, whose firm has matched Simpson Thacher's pay raise.
Is Raising Salaries the Best Way to Retain Associates?
The American Lawyer
March 5, 2007