Woohoo! These associate raises are truly coming fast and furious! It sure feels like everyone — well, at least those at the top of the Biglaw heap — is anxious to let associates know just how much they’re appreciated. …And hopefully keep those valuable associates right where they are and off of the hot lateral market.
The latest firm to up the payday for associates is none other than O’Melveny & Myers. The firm took home $835,097,000 in gross revenue in 2020 has decided to join its peers in sharing that wealth with associates. In a firmwide voicemail, it was announced associate compensation will move to the scale set by Davis Polk last week. New salaries, effective July 1, will range from $205,000 for the class of 2020 to $365,000 for the class of 2013+.
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Congrats to the hardworking associates on their raises!
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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).