Biglaw

Boutique Firm Announces 'Kind Of, Sort Of' Milbank Match

First-year associates will be making $190,000, and that's what this firm wants you to know.

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Remember back in 2016 when there was a mad dash to match Cravath’s $180K pay scale? Some firms were quick to jump on board the bandwagon to claim that their first-year attorneys were being paid $180,000, compression at the top of the salary grid for senior associates be damned.

Barack Ferrazzano, a Chicago boutique firm that did just that two years ago (but weeks after Cravath first made its move), is back in the game with what we’ll refer to as a “kind of, sort of” Milbank match. Sources report that effective July 1, the firm will be increasing every associate’s salary by $10,000. In case you’ve somehow forgotten, this is the new salary scale that was announced by Milbank on June 4:

  • Classes 18/17 $190,000 (+10,000)
  • Class 2016 $200,000 (+10,000)
  • Class 2015 $220,000 (+10,000)
  • Class 2014 $250,000 (+15,000)
  • Class 2013 $275,000 (+15,000)
  • Class 2012 $295,000 (+15,000)
  • Class 2011 $315,000 (+15,000)
  • Class 2010 $330,000 (+15,000)

As a firm representative explained back in 2016, when the announcement was made that they were going to pay first-year associates $180K, management was unsure what the salary scale would be for second-year associates and above. “We don’t follow market for upper class years, but this keeps us in range,” said one of our sources. That being the case, even if all associates at Barack Ferrazzano receive a $10,000 raise, they may still be lagging behind the new Biglaw salary scale. But money is money, and who’s really complaining? Congratulations to all associates at the firm!

Remember everyone, we depend on your tips to stay on top of important salary updates, so when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches Milbank”). 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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Staci ZaretskyStaci Zaretsky has been an editor at Above the Law since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.

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