You knew they had to — hell, if I were betting, I think all the Biglaw firms with over a billion dollars in revenue will really have to raise associate salaries to the now familiar Franken-Milbank/Simpson/Cravath scale. It’s more than just the sheer economics that will propel these elite Biglaw firms to spread the wealth with their associates — it is also the recognition that the biggest and best firms are doing it. If you want the cachet of being the best, you have to pay for it.
Now Morgan Lewis & Bockius, with its $2,001,000,000 in gross revenue for 2017, has announced they are raising associate salaries and providing special bonuses in line with those going around the market. The firm made the announcement over voicemail — how 2006 of them! — but we can confirm the following base salaries at the firm:
Class of 2017: $190,000
Class of 2016: $200,000
Class of 2015: $220,000
Class of 2014: $255,000
Class of 2013: $280,000
Class of 2012: $305,000
Class of 2011: $325,000
Class of 2010+: $340,000
Plus there are those delightful special bonuses:
Class of 2017: $5,000
Class of 2016: $7,500
Class of 2015: $10,000
Class of 2014: $15,000
Class of 2013: $20,000
Class of 2012: $25,000
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Kathryn Rubino is an editor at Above the Law. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).
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