Look Who Decided To Join The Elite Biglaw Associate Compensation Scale
Associates will enjoy the extra money!
With so many firms dragging their heels to raise associate compensation to the new market level, it’s always nice go see when a firm matches salaries. That’s what Baker Botts decided to do — they rank 42nd in profits per partner and 43rd in profitability — joining their peers at the top.
Interestingly, Baker Botts announced they were moving to compensation based solely on class year. Though that’s the market standard, the firm had been on a level system. This means the chance of large compensation adjustments are on the horizon, potentially as much as $45,000, for associates.
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Baker Botts’s new compensation scale looks like this:
Base Compensation:
Class of 2017: $190,000
Class of 2016: $200,000
Class of 2015: $220,000
Class of 2014: $255,000
Class of 2013: $280,000
Class of 2012: $305,000
Class of 2011: $325,000
Class of 2010: $340,000
Special Bonuses:
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Class of 2017: $5000
Class of 2016: $7500
Class of 2015: $10000
Class of 2014: $15000
Class of 2013: $20000
Class of 2012: $25000
Class of 2011: $25000
Class of 2010: $25000
To receive bonuses, associates must be on track to bill 2000 hours. If, however, they fall short of that mark mid-year, they’ll have the chance to make up the hours and receive the full special bonus at year end.
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!
(You can read the full memo from the firm on the next page.)
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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).
