Top 20 Biglaw Firm Finally Matches Market Compensation For Associates
It took some time, but associates couldn't be happier.
Way, way back in January, Milbank introduced a new salary scale that served as a catalyst for the mad race to increase associate salaries at Biglaw and boutique firms across the country.
One of the firms that matched Milbank — at first quietly doing so under cover of its annual review process, before a formal announcement was made — was Cooley. Since then, the firm has been silent through the introduction of two more salary scales, one from Davis Polk and one from Cravath. On Friday, the firm finally addressed salaries once again.
Cooley, of course, is matching the Cravath salary scale, like all other firms that wish to remain elite during this especially hot lateral market. Here’s what compensation now looks like at the firm:
The new salary scale at Cooley goes into effect on April 1. Congratulations!
(Flip to the next page to see the full memo from Cooley.)
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] Matches Milbank”). 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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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.
