While a slew of the biggest Biglaw firms have yet to weigh in on the question of the appropriate associate compensation for 2018, there’s increasing momentum for the Milbank/Simpson/Cravath scale. That’s especially true now that Davis Polk has officially gotten on board with these numbers.
That’s right, drinks are on Davis Polk associates tonight. That’s the latest firm to announce they’re giving raises — and special summer bonuses — for all U.S. associates. That puts the compensation scale at these enviable rates:
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This season of salary raises has been more volatile then usual, but it seems — at least for the elite Biglaw firms — there’s consensus growing around these numbers. It remains to be seen how salaries will shake out in those firms outside the Am Law 50 (excepting, of course, select elite boutiques).
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(Read the full memo from the firm on the next page.)
Kathryn Rubino is an editor at Above the Law. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).