Ratcheting up market pressure on associate pay, Milbank Tweed Hadley & McCloy has announced that it will increase its associate salaries across the board by $10,000-$15,000.

Under the changes, effective as of 1 July, associates in their first, second and third years will see an increase of $10,000, meaning starting salaries at Milbank will be $190,000 (£143,000).