Competition among law firms for market share is fierce, and so too, it seems, is the competition for associates. In the past two years, Pennsylvania law firms have been bumping up, sometimes quietly, associate salaries.
And now Dechert has decided to increase the going rate for first-year associates in Philadelphia and Princeton, New Jersey, to $160,000 to match what it was already paying in all of its other U.S. offices. Those increases will carry through to all associate classes in varied amounts. DLA Piper said last year that it was increasing starting salaries in Philadelphia to $160,000, but at the time it didn’t have any first-years in the office.
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