Big Law leaders and elite boutiques appear to be reaching a consensus on associate compensation, which gives additional rewards to more senior lawyers. Observers say this is driven by the growing demand for and scarcity of emerging talent who can take leadership on important matters and be a liaison to clients, as well the key role these lawyers will play in shaping law firm culture going forward.

More firms have chosen to follow the lead of Davis Polk & Wardwell and others, giving out raises to associates.