A Top Texas Firm Matches In All U.S. Offices
A Lone Star leader steps up to the plate.
This doesn’t come as a huge surprise — we predicted it a few days ago — but it’s still welcome news. We’re happy to report that Andrews Kurth just raised associate salaries to the Cravath scale.
The now-familiar scale starts at $180,000, for first-year and incoming associates (class of 2016), and tops out at $315,000, for eighth-year associates. Summer associates are getting bumped up as well, and it all takes effect on July 1. Salaries for counsel, of counsel, and non-U.S. associates “are being evaluated and will be addressed separately.”
One tipster was ecstatic:
Luxury, Lies, And A $10 Million Embezzlement
[W]e have been waiting!!!! So excited, especially since most of the big historic firms in Houston have matched with the exception of Fulbright.
That’s right. If you cross Andrews Kurth off this list of non-raising firms in Texas, the two remaining names are Norton Rose Fulbright and Jones Day.
UPDATE (8:30 p.m.): It didn’t show up on our prior list of Texas non-raisers because it’s not in the Vault top 10 for Texas (it’s #11), but Haynes & Boone has yet to raise pay — and we’ve heard from many HayBoo associates who asked us to underscore that fact.
Presumably Andrews Kurth’s settlement in that giant malpractice case wasn’t too financially onerous (or was covered in whole or in part by insurance). Congratulations, AK associates, and welcome to the MoneyLaw club!
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Luxury, Lies, And A $10 Million Embezzlement
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We are covering this story as market conditions develop, 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 to read the full memo, from managing partner Bob Jewell.)
Earlier: Which Biglaw Firm Just Got Hit With A $200 Million Malpractice Verdict?
David Lat is the founder and managing editor of Above the Law and the author of Supreme Ambitions: A Novel. You can connect with David on Twitter (@DavidLat), LinkedIn, and Facebook, and you can reach him by email at [email protected].
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