Since we broke the news of the new $225K salary scale for associates at large law firms in the United States — a trend that was started by Milbank on Tuesday, November 7, 2023, and finally one-upped three weeks later by Cravath on Tuesday, November 28, 2023, complete with higher salaries for midlevel and senior associates — firms are quickly falling in line to match the scale. In addition to these hefty new salaries, Biglaw firms are also rolling out their year-end bonuses. When will your firm announce its new salary and bonus scales for associates?
Today, for your viewing pleasure, we unveil a table of all of the firms that have already matched the new salary scale (or instituted raises, generally, because of the new salary scale) and bonus scale, the date those matches were made, the minimum hours required to receive bonuses (if available), and the date bonuses will be paid. We presume all raises are retroactive to January 1, 2024. We will be updating this table on a daily basis, sometimes multiple times, as news on raises and bonuses unfolds. If you see any information here that is incorrect or needs clarification, let us know.
We are covering this trend extensively, so please drop us a line — text (646-820-8477) or email (subject line: “[Firm Name] Matches”) — when you know of a firm making a compensation move. Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file. Sources are kept confidential.
Don’t forget, if you’d like to sign up for ATL’s Bonus Alerts, please enter your email address in the box below. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each compensation announcement that we publish. Cheers to a happy bonus and raise season, everyone!
| Firm | Salaries | Bonuses | Minimum Hours | Bonus Payout Date |
| Milbank FIRST MOVER November 7, 2023 | Class of 2023: $225K Class of 2016: $425K | Class of 2023: $15K Class of 2015: $115K | None | December 31, 2023 |
| Wilkinson Stekloff November 20, 2023 | Undisclosed | Class of 2023: $26.25K Class of 2016+: $201.25K | None | December 15, 2023 |
| Cravath NEW MARKET LEADER November 28, 2023 | Class of 2023: $225K Class of 2017: $420K | Class of 2023: $15K Class of 2017: $105K | None | December 15, 2023 |
| McDermott November 28, 2023 | Class of 2023: $225K Class of 2016+: $435K | Class of 2023: $15K Class of 2016+: $115K | 2000 hours | Undisclosed |
| Paul Hastings November 28, 2023 | Class of 2023: $225K Class of 2016+: $435K | Class of 2023: $15K Class of 2016+: $115K | 2000 hours | February 9, 2024 |
| Paul, Weiss November 29, 2023 | Class of 2023: $225K Class of 2016: $435K | Class of 2023: $15K Class of 2016: $115K Addt’l discretionary bonuses in 2024 | None | Undisclosed |
| Baker McKenzie November 29, 2023 | Class of 2024: $225K Class of 2016+: $435K | Class of 2022: $15K Class of 2016+: $115K | Undisclosed; Addt’l “premium” bonuses for those who “materially exceeded” billables | February 9, 2024 |
| Proskauer November 29, 2023 | Class of 2023: $225K Class of 2015: $435K | Class of 2023: $15K (pro-rated) Class of 2015: $115K | None | December 22, 2023 |
| Dechert November 29, 2023 | Class of 2023: $225K Class of 2016+: $435K | Class of 2022: $20K Class of 2016+: $115K | 1950 hours (client billable, pro bono, firm as client, maximum of 50 community hours); associates who exceeded hours expectations eligible to receive an “extraordinary” bonus (i.e., 2200 hours = addt’l 30%; 2400+ hours = addt’l 40%) | Undisclosed |
| Hogan Lovells November 29, 2023 | Class of 2023: $225K Class of 2016+: $435K | Class of 2022: $20K Class of 2016+: $115K | 2000 hours (including up to 150 pro bono hours until associates meet 1850 hours, then unlimited pro bono hours, and including up to 50 D&I hours, if they have billed at least 1800 hours; additional bonuses available for those who exceed hours minimums) | Last pay period in 2023 |
| Skadden November 29, 2023 | Class of 2023: $225K Class of 2016+: $435K | Class of 2023: $15K Class of 2016+: $115K or $125K | 1800 “productive hours” (including unlimited pro bono time and up to 150 hours of productive non-billable work) | Undisclosed |
| Cleary November 29, 2023 | Class of 2023: $225K Class of 2016+: $435K | Class of 2023: $15K (pro-rated) Class of 2016+: $115K | None | December 22, 2023 |
| Sidley November 30, 2023 | Class of 2023: $225K Class of 2015: $445K | Class of 2022: $20K Class of 2015+: $115K | 2000 hours required for base bonuses; associates with “higher productivity and/or exceptional performance” will receive additional bonuses | Prior to December 31, 2023 |
| Davis Polk November 30, 2023 | Class of 2023: $225K Class of 2016+: $435K | Class of 2023: $15K Class of 2016+: $115K | None | Undisclosed |
| Fried Frank November 30, 2023 | Class of 2023: $225K Class of 2016+: $435K | Class of 2023: $15K (pro-rated) Class of 2016+: $115K | 1850-1999 hours for up to 25% of full bonus; 2000-2199 hours for full bonus; 2200-2449 hours for full bonus plus 15% premium; 2450+ hours for full bonus plus 30% premium; premiums range from $3,000 to $34,500 | On or before December 31, 2023 |
| Norton Rose Fulbright November 30, 2023 | Class of 2023: $225K Class of 2016: $435K | TBA | Undisclosed | TBA |
| Mayer Brown November 30, 2023 | Class of 2023: $225K Class of 2016: $435K | Class of 2023: $15K (pro-rated) Class of 2016+: $115K | NY: 1900 client equivalent hours; Outside NY: 2000 hours for base bonus, stub years not included (1900 CE hours required); 2100 hours for $23K-$132.25K, 2200 hours for $24K-$138K, 2300 hours for $26K-$149.5K | February 16, 2024 |
| Kirkland November 30, 2023 | Class of 2023: $225K Class of 2018: $390K | TBA | None | TBA |
| Willkie November 30, 2023 | Class of 2023: $225K Class of 2016: $435K | Class of 2023: $15K (pro-rated) Class of 2016: $115K | None | December 29, 2023 |
| Holwell Shuster November 30, 2023 | Class of 2023: $225K Class of 2017: $420K | Class of 2023: $15K (pro-rated) Class of 2017: $105K | None | On or before December 31, 2023 |
| Akin Gump November 30, 2023 | Class of 2023: $225K Class of 2016+: $435K | Class of 2023: $15K (pro-rated) Class of 2016+: $115K | 1950 hours (including pro bono hours, general counsel hours, business development hours, and up to 100 hours of time spent on recruiting, diversity & inclusion, and/or innovation activities); associates with “exceptional” performance will receive larger bonuses | February 2024 |
| O’Melveny November 30, 2023 | 1st Year Assocs: $225K 3rd Year Counsel: $435K | Class of 2022: $20K Class of 2016+: $115K | None | Undisclosed |
| Debevoise November 30, 2023 | Class of 2023: $225K Class of 2016+: $435K | Class of 2023: $15K (pro-rated) Class of 2016+: $115K | None | Undisclosed |
| Debevoise November 30, 2023 | Class of 2023: $225K Class of 2016+: $435K | Class of 2023: $15K (pro-rated) Class of 2016+: $115K | None | Undisclosed |
| Covington December 1, 2023 | Class of 2023: $225K Class of 2016+: $435K | Class of 2023: $15K (pro-rated) Class of 2016+: $115K | Undisclosed | Undisclosed |
| Baker Botts December 1, 2023 | Class of 2023: $225K Class of 2016+: $435K | Class of 2022: $20K Class of 2016+: $115K | Based on hours (“enhanced” bonuses available for “exceptional” performance) | Undisclosed |
| Yetter Coleman December 1, 2023 | Class of 2023: $225K Class of 2017+: $420K | Class of 2023: $15K (pro-rated) Class of 2017+: $105K | 1850 hours for partial bonus (including up to 100 pro bono hours); 2050 hours for full bonus (including up to 120 pro bono hours, up to 10 diversity & inclusion hours, and up to 10 professional development hours) | December 18, 2023 |
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.
