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      November 7, 2017

      As an attorney, if you want to be a bigger originator and business developer you need to have a strong network that refers business to you. Unless your practice is largely consumer oriented (criminal defense, personal injury, family law, etc.) you get a large percentage of your business through referrals. Referrals could come from current and former clients, attorneys in o...

  • 2016 Associate Salary Increases

    Associate Attorney Salary Increases

    For the first time since 2007, AmLaw 200 firms are raising associate salaries. The new standard scale is:

    1st year = $180,000
    2nd year = $190,000
    3rd year = $210,000
    4th year = $235,000
    5th year = $260,000
    6th year = $280,000
    7th year = $300,000

     

    For a quick refresher, most firms (aside for some regional differences) in the US were paying first year associates $70,000 in 1993. In 1997 first years were paid $83,000 and in 2000 salaries went up to $125,000. In 2006 there was a raise to $145,000 and in 2007, buoyed by a robust economy, first year associate salaries went up to $160,000.

    Adjusted for inflation, first year associates have been paid equivalent to $175,000 since 2000. Until last month, when 1st year associates were still being paid $160,000, one could say they were underpaid compared to historical trends. So a raise to $180,000 is probably correct for the market.

    So which firms have raised salaries so far? The list below outlines each firm that has raised with a hyperlink to the post on AboveTheLaw.com that outlines the firm’s detailed compensation. Your firm not listed? Don’t worry, I’m fairly certain that if your firm paid at the New York level before, they will announce raises soon.

    Akin Gump
    Allen & Overy
    Andrews Kurth
    Arnold & Porter
    Ashurst
    Baker & McKenzie
    Baker Botts
    Boies Schiller
    Bracewell
    Brown Rudnick
    Cadwalader
    Cahill Gordon
    Choate Hall
    Cleary Gottlieb
    Clifford Chance
    Cooley
    Covington & Burling
    Cravath
    Crowell & Moring
    Davis Polk
    Debevoise & Plimpton
    Dechert
    Desmarais LLP
    DLA Piper
    Fenwick & West
    Fish & Richardson
    Freshfields
    Fried Frank
    Gibson Dunn
    Goodwin Procter
    Greenberg Gross
    Gunderson Dettmer
    Hogan Lovells
    Holwell Shuster
    Hueston Hennigan
    Hughes Hubbard
    Irell & Manella
    Jenner & Block
    Katten Muchin
    Keker & Van Nest
    King & Spalding
    Kirkland & Ellis
    Kramer Levin
    Latham & Watkins
    Locke Lord
    Mayer Brown
    McDermott Will
    McKool Smith
    Milbank Tweed
    Morgan Lewis
    Morrison & Foerster
    Munger Tolles
    O’Melveny & Myers
    Orrick
    Paul Hastings
    Paul Weiss
    Proskauer Rose
    Quinn Emanuel
    Robbins Russell
    Ropes & Gray
    Schulte Roth
    Shearman & Sterling
    Sidley Austin
    Simpson Thacher
    Skadden Arps
    Sullivan & Cromwell
    Susman Godfrey
    Vinson & Elkins
    Weil Gotshal
    White & Case
    Willkie Farr
    WilmerHale
    Wilson Sonsini
    Winston & Strawn
    Yetter Coleman