The Raises Just Keep On Coming For The Best Of The Biglaw Elite
Another big player is on board with the new associate compensation scale.
Good news for associates at Fried Frank — the firm has announced that they are increasing associate salaries in the New York, D.C., and London offices (only leaving out the firm’s very small and very senior Frankfort office). The salary increases, ranging from $10,000 – $25,000, depending on class year, will also be accompanied by special summer bonuses, which range from $5,000 to $25,000, based on seniority.
This summer has been a fascinating one for associate compensation. It started with Milbank — Thrillbank, if you will — shocking the Biglaw world with new raises. This was matched by Simpson Thacher, which went over the top with special bonuses. Cravath finally came to play, slightly increasing salaries from the Milbank scale for senior associates. All of which resulted in the franken-Milbank/Simpson/Cravath scale, which Fried Frank (and any firm that fancies itself at the top of the Biglaw heap) has now met.
The numbers for your viewing pleasure:
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(Read the full memo from the firm on the next page.)
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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).
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