Giddy Up! Associate Salaries Increasing Across Texas
Texas firms are as generous as New York firms.
Welcome to the money party Texas! Though some Texas-based firms have already made a move, including Vinson & Elkins and Baker Botts, now that Thompson & Knight has announced their raises, the Lone Star state’s dam may have finally broken.
The firm has announced a full match of the Milbank/Cravath scale. What makes this particularly noteworthy is that back in 2016 Thompson & Knight didn’t quite meet the industry standard as it applies to senior associates, but now, they are fully on board.
According to tipsters at the firm, there are also summer bonuses for associates — in excess of the going market rate:
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[The firm] generally gave out summer bonuses if associates were on pace to meet hours. Corporate associate bonuses were generally double Cravath (topping out at 45k for senior associates) and paid out half in July and half in December.
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Kathryn Rubino is a senior 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).
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