The stars at night are big and bright deep in the heart of Texas — but they’re even bigger and brighter for law firm associates who’ve recently received news about their salaries skyrocketing. If you’re at a firm in the Lone Star State that’s been “monitoring” the market for further developments in this summer’s salary wars, bring to partners’ attention the fact that yet another firm has matched the new $190K scale.
Just before midnight on Tuesday evening, litigation boutique Yetter Coleman announced that it was matching the new salary scale that’s taken the nation by storm. Yetter, one of the top litigation firms by law school pedigree, notified associates that its goal was to provide competitive compensation to recruit and retain top talent, and thus, firm leaders decided to adopt the new associate payscale. According to the memo from partner Collin J. Cox, the firm has not matched the special summer bonuses that have been handed out like candy across the Biglaw and boutique landscape. Instead, the firm will pay its “traditional summer bonus” to all non-partner employees later this month, and award its standard “performance-based individualized bonuses” at the end of the year — bonuses which often exceed the market typically set by Cravath.
Congrats to all associates at Yetter Coleman, and keep on lassoing those trial victories!
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(Flip to the next page to see the full Yetter Coleman raise memo.)
Remember, we are covering this trend extensively, so please drop us a line — text (646-820-8477) or email (subject line: “[Firm Name] Raises Salaries”) — when you know of another firm making a compensation move. 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. All sources are kept confidential.
And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we’ll also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks!
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Staci Zaretsky has been an editor at Above the Law 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.