Come May of next year, Shearman & Sterling as we know it will cease to exist as the firm will merge with Allen & Overy, creating A&O Shearman. The forecast for the soon-to-be combined firm seems pretty optimistic — the new entity will be the third largest law firm in the world. That means plenty of cash to spread around to associates and match the new associate salary scale sweeping the top of Biglaw, and the powers that be at Shearman have announced just that — associates at the firm will be getting a raise come January 1. Something their counterparts at Allen & Overy have to feel good about.
The new salary grid at Shearman is as follows:
| Class Year | 2024 Annual Salary |
| Class of 2023 | $225,000 |
| Class of 2022 | $235,000 |
| Class of 2021 | $260,000 |
| Class of 2020 | $310,000 |
| Class of 2019 | $365,000 |
| Class of 2018 | $390,000 |
| Class of 2017 | $420,000 |
| Class of 2016+ | $435,000 |
Plus they announced bonuses. The bonus scale at the firm is as follows:
| Year-End Bonus | |
| Class of 2023 | $15,000 (prorated) |
| Class of 2022 | $20,000 |
| Class of 2021 | $30,000 |
| Class of 2020 | $57,500 |
| Class of 2019 | $75,000 |
| Class of 2018 | $90,000 |
| Class of 2017 | $105,000 |
| Class of 2016+ | $115,000 |
“Enhanced” bonuses are available for associates who exceed expectations. Bonuses will be paid January 31, 2024.
You can read the full memo on the next page.
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Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Mastodon @Kathryn1@mastodon.social.
