How You Like Them Apples? The First Boston Firm Decides To Raise Associate Salaries
Wicked! A Massachusetts firm finally speaks up for its associates.
“Where is Ropes???”
“Ropes hasn’t matched yet — in fact, none of the big three Boston firms have moved.”
“Where is Ropes & Gray on the Cravath match?”
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“Ropes has been silent on salary increases.”
“Where is Ropes? Come on.”
“WHERE IS ROPES?!?!?!?!? SAVE US, ATL.”
Calm down, associates, for what was once apparently lost has now been found. Ropes & Gray is now the first Boston-based law firm to have spoken in the great salary wars of 2016. In an email sent from managing partner David Chapin and R. Bradford Malt, chair of the firm’s policy committee, the pair say that salaries for all partner-track U.S. associates will be “adjusted … in line with recent market changes.” No salary scale is given, but we assume that Ropes is making a full Cravath match.
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In addition to nationwide raises for associates, Ropes will be offering associates the chance to refinance their debt, and they’ll receive a “$500 dollar reduction” (i.e., a negligible drop in the bucket) to their principal loan balance if they apply for the program through a dedicated Ropes & Gray website. Last, but certainly not least, beginning in 2017, Ropes associates will be eligible to receive up to $500 to reimburse them for the technology of their choice for home use, every three years.
Congratulations to all Ropes & Gray associates! Like a Masshole driving a banged-up Minivan 10 miles per hour under the speed limit in the left lane on the Pike, your firm was slow to move, but at least you can be proud of the great package you’re receiving.
(WilmerHale and Goodwin Procter, it’s your turn. Hurry up and make a move, because all of your associates are impatiently waiting, and Above the Law is watching.)
Remember, we are covering this trend extensively, so please drop us a line — text (646-820-8477) or email (subject line: “[Firm Name] Matches Cravath”) — when you know of another firm making a compensation move. Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file. All sources are kept strictly confidential.
(Flip to the next page for the full Ropes & Gray pay raise memo, from R. Bradford Malt and David Chapin.)
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Staci Zaretsky is an editor at Above the Law. Feel free to email her with any tips, questions, or comments. Follow her on Twitter or connect with her on LinkedIn.
