Biglaw, Money, Skaddenfreude

Skaddenfreude: Who Has Matched Simpson?

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Simpson Thacher & Barlett has raised associate base salaries, as set forth in this memo. Entering associates will now earn a starting salary of $160,000 rather than $145,000.
We reported on this earlier today, but you don’t have to take our word for it. The WSJ Law Blog also has the news, plus some banal on-the-record comments from Pete Ruegger (who didn’t bother returning our telephone calls or email messages).
As for which other law firms have or haven’t matched STB, all kinds of rumors are flying around, including many in the comments to our earlier post. Some of you have expressed irritation over not knowing what to believe.
Our response is simple: Don’t rely upon anything until it’s confirmed here, on ATL’s main page (as opposed to the comments — which we love, but which can be unreliable).
Over the next few days, we will follow up on the different rumors about raises. We will gather announcement memos from the various firms, obtain confirmation from friends that we know to actually work at these places, and collect statements from firm partners and spokespersons. Then we’ll report back to you on what we’ve learned.
But we’re not expecting any surprises out of this process. We think it’s only a matter of time before most top New York firms fall in line. (But we don’t know what will happen nationally — $160K for first-years may not be sustainable outside Gotham.)
So if you work at a Biglaw shop in New York, at a firm that considers itself a peer to Simpson Thacher, just relax. You will surely get your extra dough.
Simpson Thacher Raises the Bar [WSJ Law Blog]
Earlier: Breaking: Simpson Thacher Raises Associate Base Salaries!!!

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