Many Firms Didn't Buy Into the Latest Round of Associate Pay Raises, Report Finds
Plenty of firms, including some that are fairly large, are still not paying $190,000 as a base first-year salary.
May 22, 2019 at 04:44 PM
3 minute read
First-year associates at larger midsized firms—head counts between 251 and 500—saw a 6.7% increase in their salaries, while associates at 700-plus attorney firms saw hikes of 16.1%, according to a study by the National Association for Law Placement (NALP).
While the raises signal that larger firms, even some that would be considered midsized, couldn't resist the urge to try to match the round of associate pay raises put in motion by Milbank in 2018, plenty of firms did not.
Few firms, in fact, have hit the $190,000 benchmark, according to the report. Although $190,000 is the most frequently occurring salary in Big Law, accounting for 29.3% of reported first-year associate salaries, smaller shops and firms with head counts between 501 and 700 didn't budge and reported flat associate salary growth in 2018.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Trending Stories
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250