Biglaw

Biglaw Firm Hands Out Raises For All -- But Keeps First-Years At $190K

Interesting recruiting strategy....

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Biglaw firms continue to race to raise salaries in the epic quest to secure some of the lateral talent that’s floating around in this incredibly hot legal job market, but unfortunately, not every firm is raising associates up to the Davis Polk scale and not every firm uses a lockstep salary scale. Arent Fox is one of those firms.

With $333,600,000 gross revenue in 2020, Arent Fox placed 107th in the most recent Am Law 100 ranking. During the height of the pandemic, almost everyone at the firm took some pretty big salary hits, ranging from 25% for associates and staff all the way up to 60% distributon cuts for partners. But now, associates’ fortunes are changing when it comes to what they make.

From what we understand, the firm recently announced “market adjustments” to salaries for second- through ninth-year associates, and sources tell us that the “vague email” made it seem like any increases would be individualized. Even though the firm isn’t matching Davis Polk’s shiny new salary scale, our Arent Fox insiders tell us that the last time the firm raised salaries, folks received about $15,000 more in their wages. Here’s what one tipster from the firm had to say:

I get that Arent Fox didn’t match, but after a lot of negativity following the salary cuts during COVID, I really appreciated the gesture from the partnership. And the gesture wasn’t hollow either. I’m generally satisfied with the raise I received — it was still five figures. I don’t want to reveal what my increase was, but I’m at least closer to Cravath scale for my year.

But sorry, first-years — according to the firm, you’ll be kept at $190,000 “for now.” That’s an interesting way to enter on-campus recruiting season in just a few weeks. Let’s see how that works out for the firm.

In other news, Arent Fox is introducing a big adjustment to its productivity bonuses, which will now range from $15,000 to $75,000 for those who bill at least 1950 hours this year. Sources seem pretty pumped about this.

Congratulations to everyone at the firm!

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(Flip to the next page to see the memo from Arent Fox.)

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Staci ZaretskyStaci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.

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