New York’s leading law firms are refusing to raise their associate pay rates in a bid to prevent the pay war taking place on the US’ West Coast from spreading across America.
Pressure has been mounting on New York’s firms to raise associate starting salaries from $125,000 (£70,230) following a spate of salary hikes on the West Coast, led by Gibson Dunn & Crutcher and O’Melveny & Myers, which both increased their starting salaries to $135,000 (£75,849) from $125,000 last month.