The first day of summer brought good news for young lawyers at Dechert, which has now matched the associate salary pay scale set by Cravath, Swaine & Moore. The firm confirmed Thursday that it had adopted new salaries starting at $190,000 for associates in the class of 2017, as well as special bonuses to be paid in July. Base salaries at Dechert, effective July 1, are as follows:

• 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 and before — $340,000

And the midyear 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 and before — $25,000

The Philadelphia-born firm now counts New York as its largest office. It also matched Cravath's pay scale in 2016, when associates' starting salary moved to $180,000. Morgan, Lewis & Bockius has also reportedly matched Cravath's pay scale, according to Above the Law . But another Pennsylvania-founded Am Law 50 firm chose not to follow along. Reed Smith confirmed earlier this week that it had no plans of giving associates raises, despite moves by a number of large firms to promise starting salaries of $190,000. Milbank, Tweed, Hadley & McCloy kicked off that trend earlier this month, and Cravath one-upped that payscale a few days afterward, giving larger raises to more senior associates. Simpson Thacher & Bartlett was the first to announce midyear bonuses as well, causing Cravath and others to follow suit. contacted after Milbank announced its raise