Vinson & Elkins took the plunge on Tuesday, becoming the first Texas-based firm to increase Texas associate salaries to match the raises New York-based firms doled out to associates earlier this year. The firm also raised salaries in its Washington, D.C., office.
Joe Dilg, managing partner of Houston-based V&E, announced the raises yesterday in an internal memo. Effective Aug. 1, first-year associates will earn $160,000; second-year associates $170,000; third-year associates $185,000; fourth-year associates $210,000; fifth-year associates $230,000; sixth-year associates $250,000; seventh-year associates $255,000; and eighth-year associates $260,000.
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