Biglaw

The Reason Why Milbank Raised Associate Salaries

Associates shouldn't have to wait 10 years for a raise.

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Two years have now gone by, and there is cost-of-living increases and inflation. We want to signal to the market that we do want the best, and we’re willing to pay for the best, and we think after two years, an additional increase is appropriate.

— Milbank chairman Scott Edelman, in an interview with Law.com explaining why the firm raised associate salaries across the board. Associates will receive raises between $10,000 and $15,000, depending on seniority. Two years ago, Cravath started a salary war when the firm moved the Biglaw market to $180,000 for first-year associates after a nearly 10-year period of stagnation.

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