Am Law 100 Firm Announces Raises To $170K-$200K, Depending On Market
An early peek at how salary changes will play out across the country.
Firms atop the Am Law rankings are falling all over themselves to match, if not top, each other in associate compensation. Law firms run on people, specifically people firms can leverage, and locking down elite talent in a red-hot recruiting market requires bold moves. When firms are sitting on largesse from outstanding 2020 billing, sweetening the salary pot is one way to stay ahead of the game.
But what about the firms with offices outside the NY and DC hotbeds? Does the recruiting bonanza matter as much in locking down associates in St. Louis? Frankly, it’s more interesting to see how major firms operating in smaller markets handle this recent round of raises than the staid Midtown Manhattan firms.
Polsinelli has over 20 offices across the United States and represents one of our earliest looks at how firms will handle these raises outside of the city.
Curbing Client And Talent Loss With Productivity Tech
Presumably the $200K figure affords the major market associates (NYC, DC, SF, etc.) just a shade off the new $205K scale match. But associates in smaller markets like, say, the aforementioned St. Louis, will be getting less. Polsinelli appears to be betting that there are some markets it plays in that aren’t competing for talent based on salary.
Though as a non-lockstep firm, Polsinelli may not be taking a particularly big gamble. They still have wiggle room to up the stakes to secure a coveted lateral relocation if they want. How the lateral wars play out in these smaller offices will tell us a lot about the state of these markets.
In any event, some positive news for Polsinelli attorneys regardless of location!
Sponsored
Curbing Client And Talent Loss With Productivity Tech
How The New Lexis+ AI App Empowers Lawyers On The Go
Law Firm Business Development Is More Than Relationship Building
Happy Lawyers, Better Results The Key To Thriving In Tough Times
Please help us help you when it comes to salary news at other firms. As soon as your firm’s memo comes out, please email it to us (subject line: “[Firm Name] Salary”) or text us (646-820-8477). 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 Salary & Bonus Alerts, 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.
Joe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.
Sponsored
Happy Lawyers, Better Results The Key To Thriving In Tough Times
AI Presents Both Opportunities And Risks For Lawyers. Are You Prepared?
