Biglaw, Money, Skaddenfreude

Nationwide Pay Raise Watch: Business As Usual at Simpson Thacher

Simpson Thacher Bartlett LLP Abovethelaw Above the Law blog.jpgAlmost one year ago, Simpson Thacher & Bartlett announced a major associate pay raise, unveiling a new pay scale with a starting salary of $160,000. The move sent tremors throughout Biglaw. Firms in New York quickly followed suit; firms in markets outside New York took longer, but eventually matched (for the most part).
But if you’re looking to STB to lead the market higher still, you’ll be disappointed. Yesterday the firm sent around this memo:

SIMPSON THACHER & BARTLETT LLP
MEMORANDUM TO ALL ASSOCIATES AND COUNSEL
Effective as of January 1, 2008, the annual base salary for each class year will be as follows
Class of 2007 – $160,000
Class of 2006 – $170,000
Class of 2005 – $185,000
Class of 2004 – $210,000
Class of 2003 – $230,000
Class of 2002 – $250,000
Class of 2001 – $265,000
Class of 2000 – $280,000
Class of 1999 – $290,000
Salaries for counsel and classes senior to 1999 will be addressed on an individual basis and discussed with those individuals during the Annual Review process. Increases will be reflected in the January 30, 2008 paycheck.
January 14, 2008

Earlier: Breaking: Simpson Thacher Raises Associate Base Salaries!!!

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