Day: August 18, 2016

Here we go again.  In early June, Cravath, Swaine & Moore announced that it was increasing starting salaries for associates from $160,000 to $180,000, the first material hike in almost a decade.  (The last time law firms made significant changes to the associate compensation scale was in 2007, and before that it was 1999.) Predictably, Cravath’s move triggered similar raises with firms announcing matching compensation scales. As the legal market continues to evolve, the consequences of the pay increases remain unsettled, including their impact on minimum billable hour requirements. Whatever actions law firms take, it is critically important that they