In a memo sent this afternoon by Managing Partner Stephen E. Lewis, Troutman Sanders put an end to the nervous speculation of its associates by announcing — tentatively — that everyone’s getting some kind of a raise in September.
Apparently, the firm holds an “Associates Retreat” in August, and the firm is holding off on specifics until after that. I guess they don’t want to throw a party with a bunch of unhappy guests? In any event, the firm was willing to announce what the first-years will be getting all over the country and then leave everyone else in the air with the commitment that sometime after the retreat they “will make appropriate adjustments to our existing associates’ compensation.”
Not exactly inspiring, but better than nothing.
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Troutman is making 4 tiers of first-year salaries depending on the office. If you’re in New York, Chicago, San Francisco, San Diego, Orange County, Tysons Corner, or Washington D.C., then congratulations! You’ll be on a $180K scale.
Associates in Atlanta, Charlotte, Richmond, and Raleigh, will be joining the $155K Club. Virginia Beach associates move to $135K, and poor old Portland gets $125K.
(Check out the full 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.
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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.