Some law firm graduates will soon earn $190,000 in their first full-time job, thanks to Milbank, Tweed, Hadley & McCloy’s decision to raise first-year associate pay this week. Although the salary boost may not sweep the industry, several other firms have said they intend to follow suit.

The last wave of law firm associate salary increases was just a couple of years ago, when Cravath, Swaine & Moore boosted pay to $180,000 and many other firms including Milbank followed suit.

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