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New York’s Roberts, Sheridan & Kotel has broken the record for new associate compensation by raising first-year pay to $120,000: $105,000 in salary and $15,000 in a guaranteed bonus. The 27-lawyer firm was started five years ago by three Cravath associates. “We want to be above market across the board,” said founding partner Todd M. Roberts. “It’s part of our Cravath snobbery. We’ve got to have the best lawyers here�we’re trying to build a corporate practice the way it was built at Cravath.” The firm has hired two to six people a year, but plans to increase hiring and reach 100 lawyers in the next five years. Including bonuses, second-year associates are making $130,000, third-years are getting $145,000 and the firm’s lone fourth-year is being paid $180,000. Associates also may receive additional discretionary bonuses, said Mr. Roberts.

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