Big Law Salary Scale List

The news that Milbank had kicked off the $225k salary payments has seen a raft of other biglaw firms join the fray – much to the joy of associates.

Milbank kicked off the biglaw salary increases in November 2023 and the example was followed by Cravath a short time later, including law firm salary increases for midlevel and senior associates.

The associate salary news was certainly welcomed by associates, but it followed a tough year for the law profession with layoffs for associates, rate increases for clients and an overall decline in lateral hiring among law firms.

The new base salaries were to be paid beginning in January 2024, and range from $225,000 for Class of 2023 associates to $425,000 for the longer-serving associates, as LawFuel has reported.

The moves reflect the aggressive moves by biglaw firms to retain legal talent in the face of market challenges.

A number of firms have pushed back start dates for new associates to ‘hold off’ the increases costs, with one—Cooley LLP—offering $100,000 to those who agree to begin their careers a full year late

But the salary increases were not the only Christmas news for associates, but year-end bonuses were also announced with updated information.

AbovetheLaw recently listed the biglaw firms that have matched the heady Milbank scale, anticipating that the law firm raises would be implemented retroactively to January 1 2024. The ATL list is listed below.

Read More –