Pay Raises

On January 22, 2007, Simpson Thacher & Bartlett raised the bar by increasing 1st year associates' salaries to $160,000. Many firms have followed suit. Below are firms that have followed in some or all of their offices.

In 2004, the going rate at most of these firms was $125,000. The raise to $160,000 represents a 28% increase, or just over 9% per year. The inflation rate, based on the Consumer Price Index for the same period has averaged just over 3%. Considering, however, that first-year associates salaries remained constant from 2000 to well into 2005, perhaps it's just a matter of making up for lost time. Overall, first-year salaries have outpaced inflation since 1990. The average associate salary [1], for these firms, in 1990 was $70,000. Adjusted for inflation, that would be about $110,000 in 2006. While the raises seem generous for firms, weaknesses in the CPI and its ability to accurately compensate for all inflationary measures, may account for some of the discrepancy.

UPDATE: Interestingly, GOP leaders on Jan. 29, blocked pay raises. What are senators' and respresentatives' salaries for 2007? $165,200. [2] [3]. Supreme Court justices do better at $194,200 for associate justices and $202,900 for the Chief Justice. [4]

See also:

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This list is continually updated. Last modified: March 12, 11:12 AM EST

Information deemed reliable though not guaranteed; no warranty is made for its accuracy. Memos detailing most of these raises may be obtained at the Above the Law blog. Other references are noted as applicable.

Firm Offices
Simpson Thacher & Bartlett [1] All
Paul, Weiss, Rifkind, Wharton & Garrison Unknown
Cadwalader, Wickersham & Taft NY & DC
Sullivan & Cromwell All
Milbank, Tweed, Hadley & McCloy NY, DC, LA, London & Asia
Cleary Gottlieb Steen & Hamilton All
Shearman & Sterling All
Willkie Farr & Gallagher NY & DC
Quinn Emanuel All
Fried, Frank, Harris, Shriver & Jacobson NY & DC
Dewey Ballantine All
O'Melveny & Myers NY
Weil, Gotshal & Manges All
Morrison & Foerster NY
Greenberg Traurig NY
White & Case NY
Skadden, Arps, Slate, Meagher & Flom NY & DC
Hogan & Hartson NY
Clifford Chance All
Kaye Scholer NY
Davis Polk & Wardwell All
Proskauer Rose NY, LA & Boston
King & Spalding NY
Thacher Proffitt & Wood NY & DC
Allen & Overy NY
Debevoise & Plimpton All
McKee Nelson NY & DC
Schulte Roth & Zabel NY
Cravath, Swaine & Moore NY
Fish & Richardson All
Kramer Levin Naftalis & Frankel NY
Stroock & Stroock & Lavan NY
Covington & Burling NY
LeBoeuf, Lamb, Greene & MacRae NY & DC
Sheppard, Mullin, Richter & Hampton NY
Paul, Hastings, Janofsky & Walker NY & Stamford
Sidley Austin NY
Akin Gump Strauss Hauer & Feld NY
Goodwin Procter NY
Jenner & Block NY
Mayer, Brown, Rowe & Maw NY
Troutman Sanders NY
Cahill Gordon & Reindel NY
Morgan, Lewis & Bockius NY
Wilmer Hale NY
Hughes Hubbard & Reed NY, NJ, DC & LA
Linklaters NY
Sonnenschein Nath & Rosenthal NY
Brown Rudnick Berlack Israels NY
Latham & Watkins NY, London, Milan, Moscow, & Asia
Gibson, Dunn & Crutcher NY
Orrick, Herrington & Sutcliffe NY & DC
Bingham McCutchen NY & London
McDermott, Will & Emery NY
Jones Day NY & CA [1]
DLA Piper Rudnick Gray Cary NY
Katten Muchin Rosenman NY
Wilson Sonsini Goodrich & Rosati NY
Kirkland & Ellis NY & CA
Chadbourne & Parke NY & DC
Winston & Strawn NY
Arent Fox NY
Heller Ehrman NY
Cooley Godward NY
Arnold & Porter NY
Dechert NY
Baker Botts NY
Holland & Knight NY[2]
Alston & Bird NY[3]
Freshfields Bruckhaus Deringer NY & DC
K&L Gates (formerly Kirkpatrick & Lockhart and Preston Gates) NY
Pillsbury Winthrop Shaw Pittman NY
Keker & Van Nest NY
Thelen Reid & Priest NY
Kelley Drye & Warren NY
Hunton & Williams NY
Dickstein Shapiro Morin & Oshinsky NY
Baker & Hostetler NY
Mintz, Levin, Cohn, Ferris, Glovsky NY
Kenyon & Kenyon All
Fulbright & Jaworski NY
Bryan Cave NY
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