Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Editor’s note: The single most important firm story since the beginning of 2000 is the spectacular increase in associate compensation, a trend that has rocketed through the nation ever since Silicon Valley firm Gunderson Dettmer Stough Villeneuve Franklin & Hachigian decided to pay its first-year lawyers a $145,000 base salary. Gunderson has an office in Austin, Texas, guaranteeing at least some impact on the Texas market. But the phenomenon moved into Texas in a big way in late February, when Houston’s Andrews & Kurth became the first large Texas-based firm to raise its associate salary scale — a 20 percent hike effective Feb. 19. By the time Texas Lawyer held this Managing Partner Roundtable on March 6, Vinson & Elkins had also raised associate salaries, paying first-year lawyers in Texas a base plus standard year-end bonus of $115,000. While details of the new salary scales ricochet through the Texas legal community at Internet speed — a chatroom for “greedy Texas associates” helps spread the news quickly — Texas Lawyer asked the managing partners of Houston’s Andrews & Kurth, Vinson & Elkins and Bracewell & Patterson and Dallas’ Jenkens & Gilchrist to talk about the salary market and the repercussions of increasing overhead — and to shed some light on what it all means. (Since this roundtable discussion was recorded, Jenkens and Bracewell raised salaries for their associates and Andrews & Kurth boosted the lower end of its scale to meet a new, higher market.) The discussion has been edited for length and style.

This content has been archived.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Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.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.