Loading...
Summary: The big news from the past two weeks has been put into a chart to accurately show what law firms are following the new pay scale.
To view the full list, see the 2016 Law Firm Salary Chart – What Firms Are Giving Raises?
Starting July 1st, associates across the country will be seeing more money in their pockets. Cravath Swaine & Moore announced a raise to their associate pay scale, the first raise in nearly ten decades. Following their example, other law firms are announced their own intentions to match the new rates set by Cravath.
Read “Cravath Effect” Takes Place with Several Firms Upping Salary Rates to learn more.
Many of the firms are even matching the new rate in the smaller markets. Akin Gump has matched the rate for first years at $180,000 up to eighth year associates at $315,000 in Austin, Dallas, Fort Worth, Houston, Longview, San Antonio, Irvine, Los Angeles, San Francisco, New York, Philadelphia, Washington D.C., London, Hong Kong, Abu Dhabi, Dubai.
Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!
Winston & Strawn is another firm that has matched the new rates in their locations – Charlotte, Chicago, Houston, Los Angeles, San Francisco, Menlo Park, New York, Newark, and Washington D.C.
A total of 54 law firms have already announced some sort of change to their salaries for associates. For most it took less than a week for them to decide that they would match everyone else, keeping themselves on the same field when attracting top talent. First year associates are one of the most valuable parts of a firm because they are willing to put in the long hours day after day to show their commitment to their law firm, helping the firm increase its revenue so it understandable that law firms across the country are willing to pay a little more to get the best associates.
Have you heard of any law firms that matched the rates but are missing from the list? Let us know in the comments.
To learn more about Cravath’s announcement, read Firms Follow Cravath’s $180,000 Base Pay Scale.
Photo: yahoo.com
