In reality, it hasn’t been *that* long since Milbank upended the Biglaw compensation model and even less time since Davis Polk came over the top of those numbers. But, based on some of the complaints Above the Law has received on our tips line — text (646-820-8477) or email — it *feels* like an awfully long time for associates waiting on salary news. And I’m sure law firm leadership — particularly those in the Top 50 — are aware that associates pretty much expect raises and if they don’t get them, well, the lateral market is calling.
Apropos of, well, exactly that, Covington & Burling — a firm with over a billion dollars in gross revenue ($1,321,296,000 to be exact) and ranked 25th on the Am Law 100 — just announced associate raises this afternoon.
The new salary scale at the firm is as follows:
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The new associates (class of 2021) and summer associates will clock in at $202,500 — matching the DPW scale. You can read the full memo on the next page.
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”). 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.
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Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. 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).