That $180K Payday Is Spreading On The West Coast
You are now a member of the elite compensation club, affectionately known as "MoneyLaw."
Welcome to the party, Fenwick & West! Good to see you here. You are now a member of the elite compensation club, affectionately known as “MoneyLaw” around these parts. This evening — alright, afternoon for California people — the technology and life sciences firm announced that they will be meeting the scale set by Cravath earlier this week.
The raises are firm-wide, that’s right; folks in their China offices are also going to make bank. As you can see, Fenwick divides up the salary grades by tiers, rather than the typical class year, but the dollar amounts are those we’ve now become very familiar with:
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Note that the compensation package is performance- and hours-based — associates have to be on the “1950-track” to qualify. The memo doesn’t specifically address the question of summer associates, but we understand they were provided with the memo, so it seems likely they’ll benefit too.
Congrats, Fenwick associates!
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.
(You can read the full Fenwick memo on the next page.)
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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).
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