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:
Thank you tipsters! If you have
any information on
other firms, please send to
lawsalaries@gmail.com
(memos or links preferred). Your confidentiality will be strictly maintained.
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.
| 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 |
