Below is the Sidley Austin memo — sent us to by one source, verified by a second.
MEMORANDUM
TO: All U.S. Associates
FROM: The Management Committee
RE: Associate Salaries
We value highly our associates and your contributions to the Firm’s continued success. We also recognize the need to remain competitive with market conditions in order to recruit and retain the talent required to serve our clients. Accordingly, we are announcing increases in our standard salaries as follows, effective January 1, 2007.
Associates in our domestic offices other than New York will receive increases bringing standard salaries to the following levels:
Class of 2006 – $145,000
Class of 2005 – $155,000
Class of 2004 – $170,000
Class of 2003 – $190,000
Class of 2002 – $210,000
Class of 2001 – $225,000
Class of 2000 – $240,000
For New York associates standard salaries are as follows:
Class of 2006 – $160,000
Class of 2005 – $170,000
Class of 2004 – $185,000
Class of 2003 – $210,000
Class of 2002 – $230,000
Class of 2001 – $250,000
Class of 2000 – $265,000
Class of 1999 – $280,000
The differential between New York and offices other than New York is a reflection of market and cost-of-living factors.
As we have done in the past, we will address, on an individual basis, compensation for Counsel and associates in class years more senior than those listed above.
With your continued dedication and effort, we look forward to another strong year.

This is the Paul Hastings memo that went out earlier today (and previously posted in the comments). We have verified it with several sources at the firm.
Date: January 29, 2007
To: Stamford and New York Associates
cc: Stamford and New York Partners, All Office Chairs and AD Chairs, All Recruiting & Development
From: Jim Owens and Elizabeth Noe
Co-Chairs, Attorney Development
Subject: FY2008 Compensation Structure for Associates, New York and Stamford Offices
We are pleased to announce the Firm will be increasing base-level salaries for U.S. associates in Stamford and New York effective as of the new fiscal year which commences February 1, 2007.
FY2008 Compensation by Class Year is as follows:
Seniority Year / Class year
Stamford & New York
Entering 2007 160,000
1st / 2006 160,000
2nd / 2005 170,000
3rd / 2004 185,000
4th / 2003 210,000
5th / 2002 230,000
6th / 2001 250,000
7th / 2000 265,000
8th+ / 1999 280,000
These increases reflect the Firm’s commitment to paying at the top tier of the market in New York. The commitment to compete at the top tier extends to all of our markets. We will be making salary determinations in our other markets over the next several days. In all cases, any increase in base salary levels will made retroactive to February 1.
We thank you for and commend your performance, commitment and hard work throughout the year and your contributions to our success.
Please feel free to contact us or your local Attorney Development Committee Chair or Office Chair if you have any questions.

If you were hoping that Cravath was going to up the ante for associate base salaries, we’re sorry to disappoint you. As reported last week in the comments, CSM basically matched the Simpson Thacher scale (after a bit of a delay; perhaps they were deliberating about besting the market).
For your reading pleasure, here’s the official pay raise memorandum from Cravath, Swaine & Moore, which went around on Friday afternoon:

Earlier: Previous announcements of law firm associate salary increases (scroll down through “Skaddenfreude” archives)

If you’re trying to figure out what the new standard salaries are going to be in DC, it’s hard to ignore Covington & Burling. Covington is regarded by many as the archetypal Washington law firm.
As previously noted in the comments, we have confirmed pay raises for Covington associates. We thank the multiple sources who sent us this memo (in various forms):

Our tipsters draw our attention to these highlights:

“Covington DC salaries are same as Hogan, but 7th and 8th years (1999 and 2000 classes) at Covington will be paid $5,000 less than at Hogan & Hartson (assuming billables of 1950 or more). No explanation provided for why senior associate salaries are now less at Covington than at Hogan.”

“Brussels is still being evaluated.”

Because, you know, it’s all about Brussels.