A trickle of large and prominent firms continued to sign on to associate salary increases this week. Some of the latest include O’Melveny & Myers and Pillsbury Winthrop Shaw Pittman, while a Texas-based litigation boutique also adjusted starting pay.
Still, the legal industry has been waiting to see whether many of the most profitable firms would match the associate salary scale set by Davis Polk & Wardwell. Those moves are still expected, said Scott Yaccarino, a New York-based law firm consultant and recruiter and co-founder of Empire Search Group. But unlike with bonuses and special bonuses, a salary spike is a “game-changing” move that alters the fundamental economics of a firm.