Lawyer Pay

Some law firms match Milbank's $190K starting pay for associates

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A few major law firms are jumping on the bandwagon and raising starting pay for new associates to $190,000.

The first law firm to announce pay increases for associates was Milbank, Tweed, Hadley & McCloy. Among the major firms reportedly matching the pay scale is Simpson Thacher & Bartlett, report Above the Law and the New York Law Journal.

Simpson Thacher is also paying a summer bonus to associates, ranging from $5,000 for new associates to $25,000 for more experienced associates, the stories report.

The first firm to match the $190,000 starting salary was California litigation boutique Hueston Hennigan. Next were:

• Proskauer Rose (for associates in Boston, Chicago, Los Angeles, New York and Washington, D.C.)

• Winston & Strawn (for U.S. associates)

• Simpson Thacher & Bartlett

• Chicago boutique Barack Ferrazzano

• Jones Day (for new associates; compensation is not lockstep)

• Irell & Manella

Above the Law had the stories here, here, here, here, here, here and here. Some of the salary reports were provided by tipsters.

Simpson Thacher did not respond to a request for comment by Proskauer, Winston and Irell & Manella confirmed the pay hikes in emails to Jones Day did not immediately respond to a request for comment.

Above the Law also has updates in this chart.

Milbank is hiking pay by $10,000 for first- through third-year associates, and by $15,000 for fourth- to eighth-year associates. Its new pay scale:

  • First year: $190,000
  • Second year: $200,000
  • Third year: $220,000
  • Fourth year: $250,000
  • Fifth year: $275,000
  • Sixth year: $295,000
  • Seventh year: $315,000
  • Eighth year: $330,000

Updated at 1:37 p.m. to include additional firms.

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