No one wants to be left behind when it comes to this summer’s associate salary wars. It’s all about trying to look the part, because when it comes to retaining and recruiting associate talent, money talks.
Goulston & Storrs, ranked at No. 155 in the most recent Am Law 200, with $196,380,000 gross revenue in 2020, recently decide to enter the associate raise game. Sources report that new salary information, effective July 1, was announced during a recent all-associate call, without an accompanying memo.
Yet again, we’re seeing exact matches for younger attorneys — first- through third-year associates, to be exact (plus summers!) — but for midlevels and senior associates, the firm is doing something a little different. Fourth-years on up will receive raises commensurate with the market, but on an individualized basis (i.e., +$20K for the class of 2017, +$25K for the class of 2016, etc.). Counsel will not be receiving raises right now, but like at most firms, their time will come at year end.
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Congratulations to everyone at the firm!
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.