$180,000 For First-Years, ??? For Everyone Else
Check out the update to our story -- there are lots of reasons to be pissed...
The new trend for firms late to the associate compensation game seems to be raising first-year salaries to the much vaunted $180,000, and leaving the experienced associates holding an empty bag.
Yesterday evening, Kilpatrick Townsend announced they are raising the firm’s starting salary to $180,000 for associates in their California, Denver, New York City, and Washington, D.C. offices. (First-years in Atlanta will be at $155,000 or $160,000 depending on practice area.)
More experienced associates, “will also receive salary adjustments depending on the location, experience level and performance of the associate will also receive salary adjustments depending on the location, experience level and performance of the associate.” Which is pretty much just a giant question mark and a prayer that the firm won’t actually screw them. At least the raises are effective today, which is nice.
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UPDATE 12:40pm: Apparently associates at KTS have even more reasons to be annoyed:
You’re missing the fact that NC, Seattle, and Dallas got completely screwed as they are receiving no raises…
Seattle and NC (which has 3 offices) are at 135 for non patent and 160 for patent… So a 3rd year associate in NC/Seattle is making less than a first year in Atlanta.
Even Alston bumped all non patent to 155 which seems like who KTS was trying to mimic.
So patent attorneys got screwed but are only 20k under (which is ridiculous since the firm has traditionally awarded patent attorneys), non patent in NC/Seattle has virtually no reason to stick around as they are making a solid 50k under market and senior associates (where raises are happening at all) are left with questions…even though they supposedly got a raise staring today.
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.
(Read the firm’s full email 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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