Dechert has finally announced that they are increasing associate compensation to the MoneyLaw scale, established by Cravath last week. Associates were definitely sweating this one out, worried that the firm would try to save money on their salaries. But the firm came through with the raises, and with profits per partner of over $2.5 million, it certainly seems like they can afford it.
The new compensation scale was announced this morning, and it is a lovely way to start off a Thursday. The raises are effective July 1 and are for all 13 of Dechert’s U.S. offices — yes, even Philly as a tipster wryly pointed out. And summers will also be seeing a raise.
Take Control Of Your Firm’s Finances With Tools Built For Success
Position your firm for long-term growth with better financial visibility and control. Learn how to track performance, manage spending, and plan strategically—download the full e-book now.
Congratulations to all of the Dechert associates, enjoy the raise!
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.
Kathryn Rubino is an editor at Above the Law. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).