Top 25 Biglaw Firm Makes Another Salary Move
The firm knows how to keep associates happy.
Biglaw is in the middle of a hot lateral market. That means that firms have to be willing to pay the tippy top of market compensation (plus other perks) to recruit and retain the associates that keep the deals/cases moving.
Goodwin Procter — a firm making $1,486,263,000 in 2020 gross revenue, making it 23rd on the Am Law 100 — already announced raises way back in January when the Milbank scale was the top of the market. Of course, since then both Davis Polk and Cravath have taken a crack at raises, and now that higher Cravath scale is what’s holding sway. And now that the dust seems to have settled, Goodwin is raising salaries again.
The new scale at the firm is as follows:
|
Salary Class |
Annual Base Salary Effective January 1, 2022 |
||
|
2021 |
$215,000 |
||
|
2020 |
$225,000 |
||
|
2019 |
$250,000 |
||
|
2018 |
$295,000 |
||
|
2017 |
$345,000 |
||
|
2016 |
$370,000 |
||
|
2015 |
$400,000 |
||
|
2014+ |
$415,000 |
These increases are also retroactive to January 1. 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).
