California litigation boutique Hueston Hennigan was the incredibly initial agency to match the new $190,000 scale, but it usually takes Biglaw firms more time to make these decisions. It took a day, but the top rated of the Biglaw environment has responded to the Milbank raises introduced yesterday with raises of their own. Proskauer has just introduced (by way of an affiliate town corridor, a complete memo will be forthcoming this afternoon) it will be matching the new compensation scale, this means associates at the agency can now count on raises in the assortment of $10,000 – $15,000, dependent on course year.
For those who haven’t memorized it however, the new sector scale is as follows:
Classes 2018/2017: $190,000
Course 2016: $200,000
Course 2015: $220,000
Course 2014: $250,000
Course 2013: $275,000
Course 2012: $295,000
Course 2011: $315,000
Course 2010: $330,000
UPDATE 6/5/2018 4:48 p.m.: The Proskauer memo is out! The workplaces having the raises are: Boston, Chicago, Los Angeles, New York and D.C. And, certainly, summer associates also get to share in the largesse.
Milbank’s surprise wage raise is predicted to attract a obvious line concerning the haves and have nots of Biglaw. Though the 2016 wage bump, spearheaded by Cravath, led to in the vicinity of common adoption of a new sector scale, there’s a good deal extra monetary strain on the bottom have of the Am Legislation 200. For this set of raises, several are predicting firms will be a good deal extra cautious in advance of they get on board, and it might even lead to a bifurcated sector. Oh, the horror of not each Biglaw affiliate creating the exact same volume of income that awaits us all.
But for now, the associates at Proskauer can rejoice. Their agency is safely on the top rated side of the compensation mountain.
Bear in mind everyone, we depend on your recommendations to remain on top rated of this stuff. So when your agency matches, make sure you textual content us (646-820-8477) or email us (topic line: “[Firm Name] Matches Milbank”). Be sure to involve the memo if out there. You can choose a photo of the memo and ship it by way of textual content or electronic mail if you really don’t want to ahead the primary PDF or Term file.
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Kathryn Rubino is an editor at Higher than the Legislation. AtL tipsters are the ideal, so make sure you link with her. Feel free to electronic mail her with any recommendations, concerns, or reviews and comply with her on Twitter (@Kathryn1).