Biglaw

Associates In This City Just Got Their Raises

Raises reach a new market.

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After Cravath blew the lid off New York Biglaw salaries last year and then firms all over the country fell all over themselves to match, it may be hard to believe any market remained untouched by the spending frenzy. But some cities did indeed avoid the full force of Cravathageddon, and kept associate salaries generally in line with the cost of living in their neighborhoods.

But price pressure hits everywhere eventually. After all, student loans know no borders and wooing talent away from markets paying top dollar requires ponying up some scratch. It appears the salary increase bug has hit Minneapolis.

Dorsey & Whitney has bumped associate salaries up to $140K from $120K, effective January 1, 2018. According a tipster, other firms in the city have also moved to a $140K scale, but as yet those firms haven’t confirmed the move. UPDATE — 9/28/17: Winthrop Weinstine confirms that they’ve also moved their salary to $140K).

This doesn’t quite make these Minneapolis mainstays the top of the market. Barack Ferrazanno and Fish & Richardson moved their Minneapolis associates to $180K during the 2016 salary frenzy. But those big salaries probably didn’t drive the this rising tide as much as Jones Day’s entry to the market. When Jones Day opened its Minneapolis office last year and promptly jacked associate salaries to $160K, the gauntlet was decidedly thrown.

That said, for folks unfamiliar with the prospect of living in Minneapolis, these associates are going to be living the life. As one Minneapolis-based tipster put it, “If people think Chicago or DC are getting a huge amount of free money for not being in NY and getting the same salary, they should have an apoplexy at the idea that Minnesota is getting the same.” Fancy condos downtown are under half a million and luxury 2BR apartments run around $1500/month. What I’m saying is, if you are a law student and don’t mind bone-chilling cold, you should consider interviewing with a Minneapolis firm.

So congratulations associates! You’re gonna make it after all!

Ed. note: Our editorial staff is entirely based in New York, but we don’t want our coverage to overlook lawyers across the Hudson. So if you have tips about industry moves across the country, hit us up at tips@abovethelaw.com or on Twitter @atlblog.

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HeadshotJoe 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.

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