One holdout firm with a lot of offices around the country to consider has finally sorted out how it plans to compensate its associates.
Following the lead of his brother, Robert Hays of King & Spalding, Richard Hays of Alston & Bird informed associates this morning that they would be seeing raises, and that the firm would not provide Cravath matches to every office.
Associates in New York, Washington, Los Angeles, Silicon Valley, and — bizarrely — Dallas will see entry-level compensation bumped to $180K. Salaries beyond that are distributed individually, so we don’t know for certain at this time if Alston & Bird will match Cravath all the way up the line. As we collect more intel, we’ll update.
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UPDATE: We can now safely say that the offices matching Cravath are matched up through the Class of 2009.
Meanwhile, associates in Atlanta, Charlotte, and the NC Research Triangle (the non-patent bar qualified lawyers, that is) will see entry-level move to $155K.
UPDATE: It sounds like the slighted offices are also getting compressed increases. Per a tipster:
Alston ATL associates not only get less than the cravath bumped offices, but the relative increase per year is not on par. NY 3D years go from 175 to 210; ATL, CLT, RTA go from 145 to 170.
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Summers are getting a commensurate raise.
Seriously, what is it about Dallas? The cost of living there is no more onerous than in Charlotte, and is actually cheaper than Atlanta. As these raises pile up around the country, it seems no one is making out better than Dallas attorneys, who keep getting Cravath matches even from firms willing to shave for other offices.
Congrats to all on your newfound riches.
You can see the full announcement memo on the next page…
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.
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.