It’s here. After an intensely competitive associate lateral market has gripped the industry since the beginning of the year—flush with signing and special bonuses—Milbank has upped the ante by announcing that associates will see a salary bump starting July 1, with first-year salaries now at $200,000 per year.

Not long after Milbank announced, McDermott Will & Emery and Cadwalader, Wickersham & Taft and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo announced matching salary scales of their own.