Top 20 Biglaw Firm Finally Decides It’s Time To Show Associates The Money -- Outside New York
It's high time that associates were paid market salaries in this city.
(Image via Getty)
It’s been a few months since Davis Polk blew the lid off associate salaries, and while many firms raised pay in some form or fashion, a great number of them adopted lockstep scales across the country. Some elite firms took their time and are just now getting around to it.
For example, back in June, Greenberg Traurig — which brought in $1,730,230,000 gross revenue in 2020, placing it at No. 16 in the most recent Am Law 100 ranking — reportedly raised salaries for associates in New York but left other offices hanging. Now, at least one other GT office has joined in the monetary madness that brought associates some joy during the pandemic. But which one?
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Welcome to Miami. Bienvenidos a Miami.
Sources started contacting us earlier this week to let us know that Greenberg Traurig’s Miami office had announced raises. “No more black box for all years,” said one of our sources. That’s right, GT Miami is now on a lockstep salary scale that comes with a 2,000-hour billables target. Here’s what that looks like:
Associates at the firm could not be happier, and insiders at the firm tell us that partners were particularly proud to have been able to make this announcement. With multiple firms now paying market in Miami, you better believe that this beach party city has hit the big time for Biglaw. Here’s what another elated associate said:
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GT Miami is matching Davis Polk compensation. The firm has done a remarkable job throughout the pandemic and has always heavily invested in the associates’ morale, development, and overall well-being. The associates are all thrilled and grateful.
Congratulations to everyone in Greenberg Traurig’s Miami office.
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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.
