Shearman & Sterling has jumped into the salary wars, the latest in a string of firms that have committed to raising associate salaries despite a rocky financial performance last year—and yet another indication of the immense pressure firms are under as they seek to retain their associate talent.

As reported by Above the Law, Shearman matched the scale set by Davis Polk & Wardwell, beginning at $202,500 for first-year associates and going all the way up to $365,000 for senior associates. On top of that, the firm also committed to raising the salary for its of counsel by $15,000—a nod to the fact that, considering the two previous rounds of special bonuses, some senior associates now have higher base salaries than their more senior of counsel colleagues.

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