Sullivan & Cromwell has increased associate base salaries by $20,000 across the board, with first-years now due to receive $145,000 a year before bonus.
The New York firm’s move, announced internally Thursday, tops a recent round of salary increases led by Los Angeles firms, where first-year base salaries rose to $135,000 from $125,000. Other large firms around the nation, most of which have targeted New York for expansion, will now have to decide whether they can keep pace.
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