Biglaw

For The Second Time In A Week, Biglaw Firm Raises Associate Salaries

The firm is showing it can roll with the compensation punches.

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(Image via Getty)

There are some benefits to a Biglaw firm that moves nimbly and quickly matches whatever salary raises market leaders announce. You get a bunch of publicity, associates are happy, and you prove your willingness to stay at the front of the Biglaw pack.

But there’s also a downside — that is, if another firm (cough, Davis Polk, cough) decides to come over the top and change up the new market standard riiiiiiight after you made your big announcement.

As Cadwalader is learning.

Managing partner Patrick Quinn circulated this note today:

We thank you again for your outstanding work on behalf of our clients during what has been an extremely busy year to date for our Firm. I’m proud of what we are accomplishing together.

As a follow-up to my note last week regarding announced base salary increases for our attorneys, we are committed to continuing to pay top of market, and we intend to match Friday’s increased base salary levels.

So yay for CWT associates. Though we expected the re-raise. That’s what happened in 2018 when Cravath came over the top of Milbank’s raises. There will almost certainly be more of the $200K scale firms moving to the $205K scale.

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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).

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