Law school can be thought of as a Harry Potter-style “sorting hat” for law students (as Dave Hoffman suggests). Similarly, the recent round of pay raises can be thought of as a sorting hat for law firms.
Nathan Carlile has this excellent article in the current issue of the Legal Times:
Call it a near miss.
Earlier this year, New York’s Simpson Thacher & Bartlett raised starting salaries for first-year associates to $160,000. In the competition to recruit top talent, the tactic was similar to one used by Kenyan marathon runners: a midrace burst to separate elite competitors from the pack of pretenders.
But while Simpson’s bump momentarily opened up a $25,000 gap between top-end New York firms and their Washington counterparts, the pack soon matched the move. Eight months later, starting salaries for first-years at most of the 200 largest firms nationwide remain bunched at $160,000.
More discussion — including rumors of Skadden leading a new round of pay raises in New York City — after the jump.



