New York To $190K -- No, Cravath Didn't Make The First Move
The next associate salary war is beginning.
Honestly, we did not expect to see an associate salary bump this year. But OMG, here comes the next wave of Biglaw salary wars.
And this time, Cravath isn’t moving first.
No, that honor belongs to Milbank, which shocked everyone at the firm today with a salary increase to put them over the Biglaw masses. The full memo is on the next page.
New York to 190K, folks! (UPDATE: For some newer Above the Law readers, “NY to [insert dollar amount here]” is just the way law firm salary increases were described for years… but to clarify, Milbank is raising salaries globally [A second tipster suggests that at least the German offices aren’t matching. We can say London and Singapore are though].)
- Classes 18/17 $190,000 (+10,000)
- Class 2016 $200,000 (+10,000)
- Class 2015 $220,000 (+10,000)
- Class 2014 $250,000 (+15,000)
- Class 2013 $275,000 (+15,000)
- Class 2012 $295,000 (+15,000)
- Class 2011 $315,000 (+15,000)
- Class 2010 $330,000 (+15,000)
Said one Milbank tipster of the news:
“!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!”
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Yeah, that sums it up.
We’ve got a few more reactions from Milbank tipsters:
- “Put some respeck on my name”
- “summer of 190”
- “WE ARE THE NEW FUCKIN CRAVATH BITCH”
- “I am as shocked as you are.”
But our favorite so far:
HOLY FUCKING SHIT BALLS OF FIRE HOW WERE WE FIRST
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It’s safe to say that associates were surprised.
In fairness, Milbank was an early mover in the last salary war, matching Cravath within hours, so they’re not shrinking from a good salary bump. But sticking their neck out first hasn’t been their style lately. Looks like the firm’s decided to take on the mantle of industry trailblazer.
Remember everyone, we depend on your tips to stay on top of this stuff. So when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches Milbank”). 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.
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.
(The full email is available on the next page.)
Read more about why Milbank raised salaries here.
And let us know what’s going to happen next here.
