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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.

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The $190K Question: Will Clients Balk at Rising Associate Salaries?

Winston & Strawn and Proskauer have already matched Milbank's new pay scale. As others debate whether to join them, clients may not all be content to sit on the sidelines.

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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.

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Meghan Tribe

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

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