Amid a wave of salary increases for associates at big law firms, midsize and regional firms are eyeing the development as a way to reinforce their long-touted message: We’re in tune with the economic realities facing clients and do high-quality work for less money.
Cravath, Swaine & Moore announced earlier this month that it is increasing base salaries for all of its associates. First-year associates will see a jump to $180,000 from $160,000. Dozens of other firms have matched the Cravath scale, at least for associates in locations known for high-end legal work and a high cost of living, such as New York and Silicon Valley.
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