West Coast Pay Raise Watch: Latham Succumbs to 'Hysteria'

onMay 8, 2007 at 2:57 PM

The word on the street was that Latham & Watkins was planning to match the recent West Coast pay raise, but would take its sweet time to announce it.
Well, it appears that Latham has been shamed into giving into the “hysteria” surrounding associate comp. Earlier this afternoon, various commenters reported that the firm has raised associate salaries in its California, Chicago, New Jersey, Northern Virginia and Washington, D.C. offices.
We have now verified the fact of a Latham pay raise, as well as this memo, with multiple sources. So you can take the Latham pay raise to the bank.
We reprint the memo after the jump.

LATHAM & WATKINS PAY RAISE MEMO
From: Kelly, Anne Marie (SF)
Sent: Tuesday, May 08, 2007 11:26 AM
To: #LA ALL ASSOCIATES; #OC ASSOCIATES; #SD ASSOCIATES; #SF ASSOCIATES; #SV ASSOCIATES; #CH ASSOCIATES; #NJ ASSOCIATES; #NV ASSOCIATES; #DC ASSOCIATES
Cc: #ALL L&W OF COUNSEL; #ALL L&W PARTNERS; Black, LeeAnn (NY)
Subject: Associate Compensation
Sensitivity: Confidential
MEMORANDUM
May 8, 2007
CONFIDENTIAL
To: California, Chicago, New Jersey, Northern Virginia and Washington, D.C. Associates
From: Associates Committee
File no: 900000-0008
Copies to: Partners and Of Counsel; LeeAnn Black
Subject: Associate Compensation
We are pleased to announce increases in associate salaries in each of our California, Chicago, New Jersey, Northern Virginia and Washington, D.C. offices. Effective May 1, 2007, associates salaries in these offices are as follows:
CALIFORNIA, CHICAGO, NEW JERSEY, NORTHERN VIRGINIA AND
WASHINGTON, D.C. OFFICES
Class Year Former Base Compensation Base Compensation Effective May 1, 2007
1st Year $145,000 $160,000
2nd Year $155,000 $170,000
3rd Year $170,000 $185,000
4th Year $190,000 $210,000
5th Year $210,000 $230,000
6th Year $225,000 $250,000
7th Year $240,000 $265,000
8th Year $250,000 $280,000
Associate paychecks issued May 18, 2007 will reflect these increases and the retroactive adjustment.