X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Four more firms � Cooley Godward, Fenwick & West, DLA Piper Rudnick Gray Cary and Sheppard, Mullin, Richter & Hampton � said Thursday they are bumping up associate salaries, following the lead of L.A. based firms. All four firms matched the newly emerging benchmark for first-years of $135,000. Cooley is lifting other years by $5,000 to $10,000, while Sheppard is raising other years by $5,000. At both firms, fourth-years will now earn $170,000 and seventh-years $210,000, as is the case with the handful of L.A. and now Bay Area firms that have increased pay in recent weeks. “Our philosophy is ultimately to have extremely competitive total compensation,” said Cooley Chief Operating Officer Mark Pitchford. “The base is only one component of the total. We believe that we may in fact pay the highest total compensation within certain classes within certain of our markets.” “We’ve made a commitment to our associates to pay market, and over the past couple of weeks, the market has gone up,” said Guy Halgren, the chairman of Sheppard Mullin’s executive committee. “To serve our clients, we have to have the best talent. And to get the best talent, we have to pay market.” Fenwick & West bumped first-year pay $10,000, from $125,000 to $135,000. Fenwick’s new managing partner, Kathryn Fritz, said that the firm would decide next if it would bump base pay for other years. L.A.-based O’Melveny & Myers; Paul, Hastings, Janofsky & Walker; and Gibson, Dunn & Crutcher all lifted pay earlier this month. They were preceded by mid-sized firms Irell & Manella; Quinn Emanuel Urquhart Oliver & Hedges; and Munger, Tolles & Olson. Over the last week, Bay Area firms Keker & Van Nest and Wilson Sonsini Goodrich & Rosati matched the salary increases. While all of the firms have lifted first year pay to $135,000, second-year pay ranges from $135,000 to $145,000. Some of the firms lifting salaries have done so for all associates in all offices while others have limited it to just U.S. associates or to associates in certain U.S. cities. Boies, Schiller & Flexner, a New York-based firm with an Oakland office, said it had raised associate base pay back in September. First-years there earn $144,000. Fourth-years make $168,000 and seventh-years make $186,000.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.