Milbank smashes the associate pay scale with yet another raise
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Updated: Milbank announced Thursday that it is raising associate pay by $10,000 to $20,000, depending on class year, a move that cracks the scale set just last year.
Associate pay at Milbank will range from $215,000 for the class of 2021 to $385,000 for the class of 2014 and beyond, report Above the Law and Law.com.
Milbank had raised associate pay to $200,000 to $355,000 in June 2021. But Davis Polk & Wardwell quickly topped that amount, raising associate pay to $202,500 to $365,000. Milbank eventually matched the Davis Polk scale, as did many other BigLaw firms.
Above the Law suggested that other law firms will fall in line with Milbank’s new scale.
“Congratulations to Milbank associates and … probably a lot of associates at other firms soon, too,” the blog said.
By Friday morning, at least three more law firms announced that they were matching the Milbank scale, report Above the Law and Law.com. They are Cadwalader, Wickersham & Taft; McDermott Will & Emery; and Fried, Frank, Harris, Shriver & Jacobson.
Above the Law and Law.com published Milbank’s new pay scale:
• Class of 2021: $215,000 (up from $205,000)
• Class of 2020: $225,000 (up from $215,000)
• Class of 2019: $250,000 (up from $240,000)
• Class of 2018: $285,000 (up from $275,000)
• Class of 2017: $325,000 (up from $305,000)
• Class of 2016: $350,000 (up from $330,000)
• Class of 2015: $370,000 (up from $350,000)
• Class of 2014 and beyond: $385,000 (up from $365,000)
Updated Jan. 21 at 9:20 a.m. to add matching law firms.