It’s a volatile time for Biglaw associate compensation. Though the market has largely settled on “the Milbank, as amended with regard to bonus structure by Simpson, as further modified for senior associates in accordance with Cravath scale” (TM Above the Law’s own Joe Patrice), there’s still the risk that another firm might come over the top, leaving your raise announcement outdated. So what’s a firm to do?
Well, at Ropes & Gray, they’ve decided to eschew a straightforward chart that details the exact dollar amount each class year can expect in compensation and in special bonuses, instead assuring associates they are getting raise and bonuses “in line with the most recent market changes.”
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So maybe this is a savvy CYA move just in case there are further developments in the salary wars. Perhaps they’re hoping some regional markets will settle on a lower scale. Or it could be they were too tired to type all those numbers out. But if anyone at the firm needs help knowing where the market settles, we’ve got your back.
Remember everyone, we depend on your tips to stay on top of this stuff. So when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Raises Salaries”). 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.
And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we’ll also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks!
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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).