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Associates have really brought home the bacon this year from the cash cows they call their law firms. Amid a lateral market that’s on fire, salaries and bonuses for associates have gone nowhere but up this year. We now have word that yet another firm has decided to boost compensation, and associates at the firm couldn’t be happier.
Today’s salary news comes from Gilbert LLP, a midsize firm located in Washington, D.C. Sources tell us that the firm’s salary matrix loosely follows the Biglaw standard, and that Gilbert has “essentially” matched the current Davis Polk-based salary scale that most firms have adopted. On top of the firm’s salary adjustments, Gilbert is also increasing its profit-sharing contribution for associates from 4.5-5% up to 7% of salary. Here’s what the firm’s new salary scale looks like:
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Gilbert partner Jason S. Rubinstein noted the following in a memo (available in full on the next page) concerning the raises:
We believe the overall compensation levels are appropriate for our firm and, considering all aspects of life at the firm, put us in a good competitive position to attract and retain the excellent legal talent we need to continue to provide our clients with exceptional legal services. We are pleased to be able to make these adjustments with your valuable input.
These new salary bumps were effective on November 1. Congratulations!
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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.