Associate Salaries, Job Survey

Associate Life Survey: Time For A Raise?

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Over the weekend, millions of Americans reset their clocks to mark the end of Daylight Saving Time. And millions of other Americans forgot to change their clocks, and showed up to brunch an hour early.

But sometimes, early is a good thing. In today’s ATL / Lateral Link survey, we investigate another time of change: the day your firm adjusts salaries.

At most firms, the new class of associates arrived in September or October. Some firms adjusted all of their associates’ seniority and salaries when the new first-years arrived. Most, however, will wait to adjust salaries, if not billing rates, until January 1.

At New York market rates, this means early raisers are actually paying associates $2,500 to $6,250 more in base salary this year than the rest of the market. (A third-year associate at a September raiser — now a fourth year — could actually make $8,333 more.)

So, does your firm observe Salary Saving Time, or have they already set your pay stubs forward?

Update: This survey is now closed. Click here for the results.

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Justin Bernold is a Director at Lateral Link, the sponsor of this Associate Life Survey.

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