The New York firms fired the first shot at the tail end of January, hiking starting rates to $160K. Most California firms held the line in-state at $145K … until Orrick made its surprise move in May. Follow every twist of the saga in our Hot Topic roundup.
Historically, salaries don’t go up at a steady rate, Munger’s Helm pointed out. They jump, they flatten, and they jump.
“One hopes it will even out,” he said.
And the current climate might encourage that, Doran said.
To the extent that firms are less busy, the supply and demand curve may shift a bit, alleviating the upward pressures on salaries, he said.
But, when it comes to associate pay, it’s anyone’s guess.
“Who knows?” said O’Melveny’s Culvahouse. “There may be a firm out there having a great year that decides to give itself a recruiting edge. And then we could be off and running again.”
