Shocking precisely no one, Cleary Gottlieb has raised associate salaries, and given special bonuses consistent with the Franken-Milbank/Simpson/Cravath scale.
With over a billion dollars in revenue — $1,214,044,000, to be precise — you knew, eventually, Cleary would raise associate salaries. They’re the second most profitable law firm, according to the most recent Am Law 100 data, so there was no way they were going to leave their associates hanging (especially not with on-campus recruitment season just around the corner).
For those that need the reminder, this means associates at Cleary will now be paid according to the following chart:
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With this raise, Cleary associates are now only about 50 times poorer than Cleary secretaries.
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(Read the full memo from the firm on the next page.)
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).