Century-Old, International Law Firm Hikes Associate Pay
This firm is paying market-rate salaries, as you'd expect from a firm with these credentials.
The firm of Chadbourne & Parke, founded more than a century ago (in 1902), is known for many things. It has an international bent, with 11 offices serving clients all over the world, and it boasts special strength in energy-related project finance. It’s ranked #76 in the 2017 Vault rankings and #124 in the Am Law 200.
And now it can be known for paying market-rate salaries, as you’d expect from a firm with these credentials. As a delighted tipster reported:
Chadbourne & Parke just matched the Cravath scale! Managing partner Andy Giaccia announced it at a firm-wide lunch meeting this afternoon, thunderous applause all around.
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From a second source:
Chadbourne just matched Cravath scale effective July 1 at its all-attorney meeting today, and gave everyone what sounds like two work-from-home days each month as part of some new program in addition to new laptops. Very happy about all of this.
Chadbourne is matching in all U.S. offices — New York, Los Angeles, and Washington, D.C. — up through the class of 2008 getting $315K. No word on counsel salaries.
Memo on the next page. We understand that summers are getting raises as well — they were present at the firm-wide meeting — but they’re not mentioned in the memo.
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Congratulations, Chadbourne associates! Enjoy the pay raises, as well as the telecommuting days and new laptops.
We are covering pay raises closely, 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.
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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