A new partner ought to make a lot more than a senior associate. But the most recent round of associate pay hikes has edged senior associates closer to junior partner pay rates. The narrowing of the gap has been an annoyance for junior partners and a problem for big firms for years. Now a few firms are trying to remedy matters. "I told my partners last year, the younger partners had to be moved up," says Wiley Rein managing partner Richard Wiley. "Partners have to feel like they're adequately compensated."
January 30, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
It figures that a new partner ought to be making a lot more than a senior associate. After all, a move into the partnership rewards years of hard work, and it comes with a whole new set of responsibilities to the firm.
But the most recent round of associate pay hikes has edged senior associates ever closer to junior partner pay rates. In fact, in some cases, senior associates can come out ahead of partners — particularly if the firm has a nonequity tier.
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