Big money is spreading like wild fire in Biglaw. And firms are excited to demonstrate their willingness to pay the top of the market.
The latest firm to announce raises — their second round of them — is Irell & Manella. The firm made $132,903,000 in gross revenue in 2020 making it 183rd in the Am Law 200, and is happy to share with the associates who made it all possible.
Of course, Irell previously announced raises, back when the Milbank scale was the top of the market. This week, Davis Polk increased that scale for midlevel and senior associates. And Irell will not be left behind! Today, the West Coast mainstay announced they too will be matching this new-and-improved compensation scale.
That means associates at the firm will be paid on the following grid:
| Class | Base Compensation |
| 1st year | $215,000 |
| 2nd year | $225,000 |
| 3rd year | $250,000 |
| 4th year | $293,500 |
| 5th year | $335,000 |
| 6th year | $360,500 |
| 7th year | $381,000 |
| 8th year | $396,500 |
You can read the full memo on the next page.
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Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. 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).