Old stereotypes die hard. An article titled “Midsize Firms Not Raising Associate Salaries Like Big Firms,” published Sept. 14 in The Legal, highlighted the almost superstitious nature of the associate salary conversation in the legal community. While the stereotypes comparing large-firm associates with midsize-firm associates appear to have nine lives, young lawyers view the entire conversation as an omen—a black cat of the legal profession. Few care to cross their firms on the issue for fear of future bad luck.
When it was first reported that starting salaries for first-year associates at Philadelphia’s largest firms were reaching as high as $160,000, young lawyers across the region took note. This is nothing new—large law firms routinely disclose this information in order to attract top talent. Firms often rush to match their competitors’ salary increases. Some view the competition as reputational. Others characterize it as an attempt to keep their young lawyers focused on their work, rather than the speculation that accompanies salary conversations. Some young lawyers hope their firms take note. Others shrug, knowing that their firm’s business model is not leveraged to support that sort of spending on associate pay.
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