Start spreading the news — first-year associates in New York’s Skadden, Arps, Slate, Meagher & Flom’s offices coast to coast will now be pocketing base salaries of $140,000. First-years at Skadden previously earned a base of $107,000.

“It has always been our intention to pay at the top of the marketplace,” said James Lyons, managing partner of Skadden’s San Francisco office. And pay they will.