Biglaw

International Biglaw Firm Raises Associate Salaries By 15% Following Record Year

The race to raise salaries is still going strong.

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Bonus season for large law firms is nigh, but that doesn’t mean that 2021’s compensation increases have ended. In fact, it’s not just U.S. firms that have gotten in on the action when it comes to increasing wages for associates. The salary scene across the pond in London is on fire right now, and down under in Australia, three firms have substantially raised base pay this week alone.

Gadens is the latest Australian firm to increase pay for its associates (and staff members, too). Law.com International has the details:

In an email to staff, chairman Jeremy Smith and [chief executive officer] Mark Pistilli said the firm wanted to reward the hard work of staff in producing record revenue for the firm.

“We want to recognise your ongoing contribution by an across the board increase in the remuneration of all of our lawyers by 15%, and the rest of our staff by 5%, from 1 January 2022,” the pair wrote in the email, which was obtained by Law.com International.

The firm will still pay its regular fee- and performance-based bonuses next year and will also offer lawyers the opportunity to earn a one-off bonus covering the period from July to December this year.

Congratulations to everyone at Gadens! Is your firm considering making any additional money moves before the year is out?

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Australian Firm Gives All Lawyers 15% Pay Raise After Record Revenue [Law.com International]

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Staci ZaretskyStaci 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.

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