It’s an easy call for the biggest in Biglaw to match the new associate compensation scale started earlier this year by Milbank and Cravath. Almost more interesting than a mega firm easily matching the raises, are the smaller outfits that are still proving they can keep up with the big dogs on salaries
Take for example the single-office firm, Choate Hall. The firm may have only had $311,956,000 in gross revenue last year, putting it in the second hundred of the Am Law ranking, but they have an impressive profits per equity partner number — over $3 million. Turns out that’s enough to get on board with the raises sweeping through Biglaw. In a Friday announcement, the firm told associates they’d all be getting raises in the new year.
The new compensation scale at the firm is as follows:
The full memo is available 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.
