Washington-Based International Law Firm Raises Salaries Accordingly
Another big firm matches the market.
Another firm has matched the Cravath scale, which we probably would have known earlier if it weren’t one of the famously anti-email firms. UPDATE (6/23/16 4:59 p.m.): Huh? Apparently after much backlash, the firm didn’t actually ban Gmail. Good to know.
Nah. I’m just kidding… no one emails us from their desktops in the age of smartphones any more.
In any event, we’re happy to report that Steptoe & Johnson LLP has issued associate raises! We’re awaiting confirmation on which offices are implicated in the raise — Steptoe is in D.C., New York, Chicago, Los Angeles, Palo Alto, and Phoenix — but at least the biggest market lawyers are seeing the boost. UPDATE (6/23/16 4:54 p.m.): Phoenix is on a different scale, but they are apparently getting some smaller raise too.
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Steptoe operates a little differently than most firms. Rather than issuing raises strictly by Class, Steptoe works a little more like Baker Botts, with multiple “tiers” of seniority. But unlike Baker Botts — who topped out at $305K — Steptoe is topping out at the more mainstream $315K. So we can call this a “Cravath match” even though the structure is a little unorthodox.
The raise is, like most of these raises, effective on July 1 and includes the summer associates.
Now, the real question is: will Steptoe & Johnson match the Steptoe & Johnson scale?[1]
Remember, when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches Cravath”). 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.
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Earlier: Saturday Morning Special: Another Firm Raises Compensation, But Do They Beat The Market?
[1] If you’re unfamiliar with the “Two Steptoe Phenomenon,” you can read all about it here.
Joe Patrice is an editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news.
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