$190K? That's Old News. Kasowitz Comes Over The Top On Base Associate Salary.
There's good news, and there's bad news.
Well, well, well. Complain about the lack of raises and, like magic, they appear. At least that’s what happened to the lucky associates at Kasowitz Benson. The firm announced yesterday that raises were in order, retroactive to July 1, and the amounts should make for some very happy associates.
That’s right, Kasowitz Benson decided to go over the top of the prevailing market rates for base compensation set by the combination of Milbank and Cravath. That means associates at the firm at every level of seniority get an additional $5K in base salary.
The impressive compensation scale is as follows:
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But there is some bad news. The special summer bonuses that Simpson introduced to the market and have been matched by so many firms are not happening. While the extra base compensation is nice — and might serve the associates better in the long run — mid-level and senior attorneys at the firm are still looking at less in total compensation for 2018 than associates at other Biglaw firms (barring something crazy happening with end of the year bonuses).
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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).
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