Earth's Highest-Grossing Law Firm Increases Associate Salaries
Congratulations to associates on this firm's planet-wide success!
It’s official! Latham & Watkins, the highest-grossing law firm in the country — which also happens to be the highest-grossing law firm in the world — has matched Cravath’s new salary scale. This isn’t your standard match, however. This worldwide powerhouse is Lathaming the competition, if you will, by matching Cravath’s new salary scale on a nearly worldwide basis.
Latham is increasing salaries for associates in America (Boston, Century City, Chicago, Houston, Los Angeles, Newark, New York, Orange County, San Diego, San Francisco, Silicon Valley, and Washington, D.C.), England (London), the Middle East (Riyadh, Dubai), and China (Beijing, Shanghai, and Hong Kong), as well as in Japan (Tokyo) for U.S.- and U.K.-qualified associates. Unfortunately, it seems as though associates in Latham’s other European and Asian outposts (Belgium, France, Germany, Italy, Russia, Singapore, and Spain) have been left out of the celebration. If this is incorrect, please email us and let us know.
Salary bumps will hit paychecks across the globe on July 15 for those who are paid on a bi-weekly basis, and at the end of July for those who are paid monthly. If your firm is hesitant to announce nationwide salary increases, you may want to let the know that Latham just announced global salary increases. That ought to give the partners in charge of compensation a polite nudge in the right direction.
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UPDATE (5:30 p.m.): The firm has announced that all summer associates will receive Latham’s salary bump. The announcement was made at the firm’s summer academy. Congrats!
Congratulations to all Latham associates who will see extra cash in their accounts!
Remember, we are covering this trend extensively, so please drop us a line — text (646-820-8477) or email (subject line: “[Firm Name] Matches Cravath”) — 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 strictly confidential.
(Flip to the next page for the full Latham & Watkins pay raise memo.)
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Staci Zaretsky is an editor at Above the Law. Feel free to email her with any tips, questions, or comments. Follow her on Twitter or connect with her on LinkedIn.
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