We can confirm the rumor that Thompson & Knight has raised first- and second-year associate salaries. Management recently circulated a press release to associates, along with this brief intro:
“This press release will go out shortly. We will elicit your thoughts on the more senior associate structure.”
The press release — which isn’t on the firm website yet, but should be soon — appears after the jump.
Update: The Texas Lawyer has an article about the raises available here.
Thompson & Knight Increases Associate Salaries
Dallas — July 23, 2007 – Effective August 1, the international law firm of Thompson & Knight LLP will increase the annual salary for first- and second-year associates in its domestic offices to $160,000 and $170,000, respectively. The Firm is studying the compensation structure for other associate classes to assure continued high standards of client service, associate skill development, and diversity, while recognizing work/life balance issues.
Thompson & Knight managing partner, Pete Riley, says, “Our clients will continue to receive the best talent at a fair price. This salary adjustment is not being joined with an increase in our associate hourly rate structure.”
Thompson & Knight Bumps Base for First- and Second-Year Associates [Texas Lawyer]
Thompson & Knight [official website]