Home

Instant Insights / Are Big Law Associate Raises a Smart Move or a Shot in the Foot?

We haven’t heard the word “lemmings” used to describe reactions from law firms after Milbank, Tweed, Hadley & McCloy announced first-year associate to salary hikes to $190,000. Sure, a handful of firms have matched, but the historical rush by Big Law to keep pace has not played out—at least not yet. In this Instant Insights, we explore why the game of follow-the-leader has fewer participants this time around, and we take the pulse of reactions to the raises from clients, competitors and experts.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Credit: ImageFlow/Shutterstock.com

The beginning of another stampede of associate salary raises is underway, with Winston & Strawn and Proskauer Rose already matching the new associate pay scale set this week by Milbank, Tweed, Hadley & McCloy.

It’s only a matter of time before others follow suit. But as law firm leaders debate the merits of matching a salary scale that starts at $190,000 for first-year associates, clients are anxiously watching the process, and wondering how much of the increases they will have to bear.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

Meghan Tribe

Meghan Tribe is a reporter covering the changing face of Big Law, from lateral moves and work-from-home programs to diversity initiatives. Contact her at mtri[email protected] On Twitter: @TribeMeghan

More from this author

You Can't Manage It If You Don't Measure It

How are you illustrating differentiation to clients and potential lateral targets? How are you measuring performance against peers? Use Legal Compass to benchmark a firm against its competitors, unearthing unique insights about performance, partner retention, market penetration and more. Click to log in, or begin your free trial.

Get More Information
 
 

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 © 2021 ALM Media Properties, LLC. All Rights Reserved.