Biglaw

Biglaw Firm Matches First-Year Salaries (In Some Markets), Senior Associates Not So Lucky

Salary compression hits mid-level and senior associates at the firm.

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When Faegre Baker Daniels and Drinker Biddle & Reath merged in 2020 to create the 1000+ attorney Faegre Drinker Biddle & Reath, expectations for the new mega firm were high. And though gross revenue was below the predicted $1 billion mark ($937 million for 2020), firm leaders projected contentment over the progress of the new firm. So, with compensation increases sweeping their way through Biglaw, Faegre Drinker got in on the action.

The firm announced the below compensation grid, which still has different scales for different offices. But there is more to note in the scale — even in their major market locations.

Check it:

Hmmm…. First- and second-years are on track to make the same as the prevailing market rate in the major markets. But after that, things get wonky as grid compression sets in. Compared to the DPW scale, 3rd years are down by $5k, 4th by $15k, and by the time you get to 8th years, they are a shocking $50k below market compensation! This is a trick firms have played in the past — with the first-year number matching market rates, they’re hoping that’s the only nugget of intel prospective first-year associates will note and then once they’re ensconced at the firm is when they’ll notice how far behind their peers they are. But we see you.

But I suppose some raises are better than none, and I’m sure associates at the firm will enjoy the extra cash.

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.

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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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