Learn more from this guide: Midsize vs Small Law Firm Partner Compensation: Complete Firm Size Analysis 2025-2026

According to the new report, firm size remains one of the strongest indicators of partner compensation in today’s evolving legal landscape. Midsize firms—those with roughly 50 to 200 attorneys—show significant earning potential compared to smaller firms. Equity partners in midsize firms report median pay around $633,000, while non-equity partners earn about $275,000, with median bonuses reaching $25,000.

By contrast, partners in small firms, typically with fewer than 100 lawyers, earn lower averages. Equity partners make roughly $387,000, while non-equity partners bring in about $205,000, though bonus structures can be higher and more flexible, averaging $50,000.

The report also notes that solo practitioners exhibit the widest income range. Approximately one-third of solo lawyers earn $250,000 or more annually, and in lucrative practice areas like personal injury, nearly 60% report incomes exceeding $500,000. However, for solos in areas like trusts, estates, or general practice, income tends to be substantially lower due to limited scalability and rate constraints.

Boutique firms—with 10 to 50 attorneys—stand out as high performers. Specializing in niche, high-value areas such as intellectual property, white-collar defense, or securities litigation, these firms can rival or surpass the compensation levels of larger firms. Some elite boutiques report partner earnings ranging from $500,000 to over $2 million, driven by specialization, client loyalty, and lean operational models.

The analysis also highlights regional and practice-area variations. Partners in major markets like New York, California, and Washington, D.C., often command the highest compensation, especially in sectors such as technology, private equity, healthcare, and energy.

Compensation models differ sharply by firm size. Smaller firms still rely heavily on “eat-what-you-kill” systems, which reward individual rainmaking. Midsize firms are increasingly adopting hybrid or formula-based approaches that balance collaboration with merit. Larger firms lean toward formulaic models tied to performance metrics, emphasizing transparency and long-term equity.

BCG’s report concludes that strategic positioning and specialization—not just firm size—drive compensation growth. Solos and small firms can increase earnings through targeted practice areas, client development, and operational efficiency. Midsize firms should focus on formalized performance systems and strategic lateral recruitment to stay competitive.

As the legal market adapts to economic shifts and technological transformation, understanding these compensation trends will be vital for law firm leaders planning for 2025–2026.

Learn more from this guide: Midsize vs Small Law Firm Partner Compensation: Complete Firm Size Analysis 2025-2026

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Learn more from this report: Partner Compensation by Geography: New York, California & Regional Market Analysis 2025-2026

New York: Still the Nation’s Compensation Leader

New York partners remain the highest paid in the country, with average annual compensation reaching $2.3 million, roughly 45% above the national mean. The city’s dominance is tied to its position as the global center for corporate finance, securities law, mergers and acquisitions, and complex litigation. Top Am Law firms headquartered in New York collectively report over $8 billion in revenue among their leading ten firms, with elite partners in corporate and M&A practices often exceeding $3 million annually.

California: Three Markets, Three Distinct Strengths

California continues to rival New York in select sectors, especially in technology and intellectual property.

• Silicon Valley partners average around $2.1 million, driven by tech transactions and venture capital deals.
• San Francisco maintains an average of $1.9 million, supported by financial services and tech litigation.
• Los Angeles, fueled by the entertainment and media industries, averages $1.7 million.

California’s high cost of living tempers its real-dollar advantage, but the market remains a magnet for talent in fast-growth industries.

Regional and Secondary Markets Gain Momentum

Across the U.S., compensation trends reveal steady increases outside the traditional power centers.

• Texas continues to grow as a powerhouse, with Houston partners earning $1.6 million, boosted by energy law demand, while Dallas and Austin partners average $1.4 million and $1.3 million, respectively.
• Chicago maintains a strong presence with partners averaging $1.5 million, while Boston ($1.4M) and Washington, D.C. ($1.8M) lead in healthcare, IP, and regulatory practices.
• Emerging markets such as Atlanta ($1.0M), Denver ($1.1M), and Phoenix ($950K) are gaining traction, offering growing opportunities for lateral hires and firm expansion.

Cost-of-Living Adjustments Shift the Landscape

When adjusted for cost of living, some regional markets outperform on real purchasing power. Houston and Dallas rise to the top of the adjusted rankings, while New York, though still dominant in nominal terms, falls slightly due to higher living expenses.

Key Insight for 2026

For firms and partners alike, the message is clear: location strategy is compensation strategy. As firms expand beyond traditional hubs, those that adapt to regional strengths, industry trends, and lifestyle considerations will maintain a competitive edge.

Learn more from this report: Partner Compensation by Geography: New York, California & Regional Market Analysis 2025-2026

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Learn more from here: Law Firm Partner Compensation Report (2026): Salary Trends by Firm Size, Region, and Practice Area

Partner Pay by Firm Size
According to the report, compensation remains closely tied to firm size and structure. Solo practitioners show the widest range of income, with 34% earning more than $250,000 annually, though results vary significantly by practice area. Personal injury, corporate, intellectual property, and tax attorneys in solo practice tend to lead the field, with many surpassing $400,000–$500,000 annually. Conversely, solos in general practice, family law, or criminal defense often report earnings below $150,000.

Small law firms (up to 100 attorneys) report median earnings of $387,000 for equity partners and $205,000 for non-equity partners. In midsize firms (101–600 attorneys), median equity partner compensation rises to $633,000, with the highest earners reaching over $1 million. Large firms (over 600 attorneys) dominate the top tier, where median equity partner compensation reaches approximately $1.3 million, while non-equity partners average around $400,000.

Regional and Practice Area Variations
Geography also plays a major role in compensation levels. Equity partners in the Northeast report median pay around $750,000, followed by the West Coast at $700,000, the Southeast at $600,000, and the Midwest at $550,000. Boutique and specialty firms focused on high-value areas—such as securities, mergers and acquisitions, and intellectual property—outperform general practice firms, often earning 20–45% more.

How Firms Pay Partners
Compensation models vary widely across firm sizes. Smaller firms frequently use an “eat-what-you-kill” system, rewarding direct business generation. Midsize firms often balance formulaic and subjective systems, while large firms rely on lockstep or hybrid compensation models for stability and transparency.

The report also highlights business origination expectations, a key driver of partner income. Small firm partners typically bring in 70–80% of their own work, while midsize firm partners generate around 50–60%, and large firm partners contribute 30–40% with institutional support.

Strategic Implications for Firms and Attorneys
For attorneys, the findings emphasize the importance of aligning personal goals with firm structure. Solo and small firm lawyers enjoy flexibility and higher potential upside but face income volatility. Midsize and large firm partners benefit from steady compensation, resources, and team support.

For firm leaders, benchmarking compensation against industry trends remains crucial for retaining top talent and sustaining growth. Transparent pay systems and clear expectations around business development are increasingly viewed as vital to long-term success.

Learn more from here: Law Firm Partner Compensation Report (2026): Salary Trends by Firm Size, Region, and Practice Area

The post 2026 Law Firm Partner Compensation Report Reveals Key Salary Trends first appeared on JDJournal Blog.

For legal professionals weighing relocations, lateral moves, or firm expansion, the insights in this report are essential reading.

Learn more from this report: Partner Compensation by Geography: New York, California & Regional Market Analysis 2025-2026

🌆 New York: The Top Tier Market

The report shows that New York leads all U.S. markets in average partner compensation, with figures around $2.3 million annually. This places it at about 45 % above the national average for partners.

New York’s dominance is backed by the concentration of financial institutions, capital markets, corporate headquarters, and high-stakes litigation. Partners in premium practices—like M&A, securities, and complex litigation—often command $3 million+ in leading roles.

🌉 California: Three Premium Hubs with Distinct Profiles

California’s legal market is divided into three high-compensation centers: Silicon Valley, San Francisco, and Los Angeles.

• Silicon Valley leads within the state, with average compensation near $2.1 million, driven by tech transactions, venture capital, and IP work.
• San Francisco sees averages around $1.9 million, combining financial services and tech in its matter mix.
• Los Angeles averages about $1.7 million, with entertainment law, real estate, and corporate practices contributing significantly.

In these California markets, compensation is heavily influenced by technology, IP, and startup-related deals, which push partner pay into premium tiers.

🌎 Regional & Growth Markets: The Landscape Beyond the Coasts

While New York and California set the benchmarks, regional and emerging markets display interesting dynamics:

• Texas markets (Houston, Dallas, Austin) offer averages between $1.3M to $1.6M, reflecting strength in energy, corporate, and tech practices.
• Chicago averages near $1.5M, benefiting from its central business hub.
• Washington, D.C. holds a premium for regulatory, governmental, and policy work, with average partner compensation around $1.8M.
• Secondary markets like Denver, Atlanta, Phoenix, and Boston trail further behind but offer more favorable cost-of-living tradeoffs.

⚖ Cost-of-Living & Real Value: What Partners Actually Keep

Though nominal compensation varies widely by geography, when adjusted for cost of living, the differences shrink. For example, a partner in Houston may enjoy higher real purchasing power than one in New York, despite lower nominal pay, due to lower housing and general living costs.

Cost-of-living indexes, especially for housing, skew the effective value of compensation across markets. This makes some regional or secondary markets more attractive than they appear on paper.

📊 Why Geography Still Matters

The BCG report emphasizes that geographic location remains perhaps the single strongest determinant of partner compensation.

Factors reinforcing this include:

• Client demand concentration: Larger clients, cross-border deals, and institutional mandates cluster in major metro areas.
• Firm density and competition: Markets with many top firms push compensation upward through rivalry for top talent.
• Practice area specialization: Tech and financial centers amplify certain practices (IP, securities, M&A) which pay more.
• Cost and tax considerations: State tax policies, real estate, and operational costs further influence net compensation.

🔍 Strategic Takeaways for Firms & Partners

• For firms: Expansion decisions must weigh not just revenue potential but required compensation premiums and overhead in target geographies.
• For partners: Location choices should balance headline pay with real purchasing power, lifestyle, and long-term career opportunities.
• For laterals: Moving from a regional market to a premium market may boost nominal pay, but net gain depends heavily on cost adjustments.

The legal market continues to evolve: remote work, firm network extension, and practice diversification may moderate geographic premiums over time. Still, as of 2025–2026, geography remains a decisive factor in partner compensation.

Learn more from this report: Partner Compensation by Geography: New York, California & Regional Market Analysis 2025-2026

The post New BCG Analysis Reveals Major Pay Gaps by Geography for Law Firm Partners (2025-2026) first appeared on JDJournal Blog.

Learn more from this report: Partner Compensation by Geography: New York, California & Regional Market Analysis 2024

California: Three High-Value Markets

California remains the second-most lucrative state for partners, driven by the unique dynamics of Silicon Valley, San Francisco, and Los Angeles.

• Silicon Valley commands the highest California partner pay at $2.1M, thanks to technology M&A, venture capital funding, and IP litigation.
• San Francisco blends financial services with tech transactions, producing averages around $1.9M.
• Los Angeles offers a mix of entertainment law and corporate work, averaging $1.7M, with media and entertainment partners approaching $2.0M.

Texas, Chicago, Boston, and D.C.

Outside the coasts, Texas shows robust growth:

• Houston partners in energy law average $1.6M, with top energy M&A lawyers topping $5M.
• Dallas remains a hub for commercial litigation and corporate law, averaging $1.4M, while Austin’s booming tech scene supports growing IP and venture practices.

Other major markets include:

• Chicago (avg. $1.5M) with strong corporate and finance work.
• Boston (avg. $1.4M) benefiting from its concentration of healthcare and IP practices.
• Washington, D.C. (avg. $1.8M) standing out for regulatory law, government contracts, and white-collar defense work.

Strategic Implications

For partners and firms alike, the report highlights the importance of geography in compensation strategy. Partners considering lateral moves should weigh not just practice fit and firm culture but also regional demand and market billing rates, which can significantly impact long-term earning potential.

Law firms planning expansion may also use these insights to identify emerging growth regions and align their recruitment with practice areas generating the highest returns.

Learn more from this report: Partner Compensation by Geography: New York, California & Regional Market Analysis 2024

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Explore and learn more from this guide: How Does a Recession Affect Litigation Salaries?

Litigation Salaries Hold Steady
During recessions, law firms typically slow or freeze salary increases across most practice areas. However, litigation pay often remains stable, since firms cannot easily reduce compensation for attorneys in active cases.

Potential Salary Gains at Litigation-Only Firms
Some firms that focus solely on litigation may even see workloads expand during economic downturns. In these cases, demand for attorneys could drive modest salary increases despite the broader slowdown.

Corporate Practice Still Drives Salary Surges
By contrast, in boom times, corporate work fuels salary competition. Mergers, acquisitions, and other transactional matters push firms to raise compensation to retain top talent.

🔑 Key Takeaway

While recessions may cool salary growth across the legal industry, litigation remains one of the most resilient practice areas. For attorneys weighing career paths, understanding these trends can provide clarity in uncertain times.

Explore and learn more from this guide: How Does a Recession Affect Litigation Salaries?

👉 Stay informed with JDJournal for the latest insights into legal market shifts, compensation trends, and career strategies.

The post How Recessions Shape Litigation Salaries: What Attorneys Need to Know first appeared on JDJournal Blog.

Read full guide here: BCG Attorney Search’s Complete Attorney Compensation Report 2025–2026

Why This Report Matters

• BigLaw Premiums and Base Salaries
  BigLaw first-year associates now start at $225,000 with annual bonuses around $20,000, while top equity partners earn well into the millions.
• Massive Earnings Disparity Across Firm Sizes
  Attorneys at BigLaw firms earn up to 340% more than peers at small firms.BCG ATTORNEY SEARCHBCG ATTORNEY SEARCH+1
• Geographic Compensation Gaps
  Salaries vary significantly by region—mean attorney salaries in Washington D.C. reach approximately $238,990, outpacing many secondary markets.BCG ATTORNEY SEARCH
• Practice Area Premiums
  Specialization pays. Attorneys in antitrust, securities, and IP litigation enjoy compensation premiums of +25%, +22%, and +20%, respectively, compared to general practice.BCG ATTORNEY SEARCH+3BCG ATTORNEY SEARCH+3BCG ATTORNEY SEARCH+3
• Gains Beyond Law Firms
  In-house counsel now earn about 75% of BigLaw levels, offering a competitive alternative. Public sector roles lag behind at around 27%, but may offer other professional and lifestyle advantages.
• Historic Compensation Growth
  First-year associate salaries surged 21% between 2021 and 2023, marking the sharpest increase in modern history. Bonuses, benefits, and remote work premiums have also expanded.

Know your worth in today’s legal market. Whether you’re an associate, partner, or considering a lateral move, BCG Attorney Search’s Complete Attorney Compensation Report 2025–2026 gives you the definitive breakdown of salaries across firm sizes, regions, and practice areas.

The post Revealed: The Complete 2025–2026 Attorney Salary Guide Every Lawyer Needs to Read first appeared on JDJournal Blog.

Read the full report to explore more:
Elite Law Firm Partners Earning $25M+: Top Rainmaker Compensation Analysis 2024

Key Highlights:

• Top partners at firms like Simpson Thacher, Kirkland & Ellis, and Latham & Watkins now clear $25M–$30M annually.
• Elite status requires $15M+ in annual originations and massive portable client books.
• New York dominates, but California, Chicago, and emerging markets like Texas and Florida are catching up.
• Big pay comes from a mix of base comp, bonuses, equity, and long-term incentives.
• Private equity/M&A partners lead the pack, followed by corporate finance, high-stakes litigation, and IP.

Bottom line: The competition for elite rainmakers is fierce, with firms offering multi-year guarantees, signing bonuses, and equity stakes to land top talent.

Read the full report to explore more:
Elite Law Firm Partners Earning $25M+: Top Rainmaker Compensation Analysis 2024

The post BCG Report: Big Law’s $25M+ Club Revealed first appeared on JDJournal Blog.

BCGSearch.com has unveiled its highly anticipated Law Firm Partner Compensation Report (2025): Salary Trends by Firm Size, Region, and Practice Area—an essential, data-rich guide offering unparalleled insights into partner earnings across the U.S. legal market.

Key Highlights from the Report

1. Compensation by Firm Size
The report breaks down median partner compensation by firm size, revealing stark variances:

• Small firms (≤100 attorneys):
  • Equity partner median: $387,000
  • Non-equity partner median: $205,000
• Midsize firms (101–600 attorneys):
  • Equity partner median: $633,000
  • Non-equity partner median: $275,000
• Large firms (600+ attorneys):
  • Equity partner median: $1.3 million
  • Non-equity partner median: $400,000

This confirms that partner compensation scales substantially with firm size, especially for equity partners.

2. Solo Practitioners
The data highlights impressive earning potential for solo lawyers—solo practitioners typically earn over $250,000, and those specializing in personal injury average upwards of $500,000 annually.

3. Deep Dive by Region and Practice Area
Beyond firm size, the report delves into geographic disparities and practice-area variations, revealing how market dynamics and expertise influence compensation. These granular insights are invaluable for attorneys evaluating career moves or launching practices tailored to high‑earning niches BCG ATTORNEY SEARCH.

What the Data Means for the Legal Industry

• For Attorneys: Whether you’re contemplating partnership, considering a lateral move, or exploring solo options, the report provides a clear financial baseline—and potential opportunity zones across firm types and practice areas.
• For Law Firm Leaders: Benchmarking compensation by region, practice focus, and firm structure helps firms craft fair, competitive pay models that align with market expectations.

Final Take

The 2025 Law Firm Partner Compensation Report from BCGSearch is more than just numbers—it’s a strategic tool for attorneys and firms navigating today’s competitive legal economy. Backed by rich data on firm size, geography, and specialties, the report empowers informed decisions on career planning and compensation strategy.

Discover how much law firm partners are earning in 2025.
From firm size and region to practice area trends, the new Law Firm Partner Compensation Report reveals the numbers every attorney and firm leader needs to know.

👉 Read the full report here: Law Firm Partner Compensation Report (2025): Salary Trends by Firm Size, Region, and Practice Area

The post 2025 Law Firm Partner Pay Report: Who’s Earning the Most by Firm Size, Region, and Practice Area first appeared on JDJournal Blog.

Many national, international, and boutique law firms have announced a salary raise that will be effective from July 01, 2021. This article takes a look at some of these major salary raise announcements.

Law firm salaries did not see a raise since 2018. However, a salary war was kicked off by Milbank LLP on June 10, 2021 when the New York-based law firm struck the first blow by raising the starting salaries for first-year associates to $200,000 from the previous starting pay of $190,000. To retain associates and lure new talent, the other major law firms immediately responded by upping the ante.

The pay raise by Milbank started a chain reaction from other Big Law firms competing to match the same. McDermott Will & Emery was the first law firm to confirm that it will be surpassing Milbank’s initial pay raise hours after Milbank’s announcement. New salaries of associates at McDermott will range from $205,000 for the class year 2020 to $365,000 for the associates from the class year 2013. This pay raise comes in addition to the special bonuses and year-end bonuses offered by the firm.

Another one of the first few firms to respond was Davis Polk & Wardwell LLP which surpassed Milbank’s initial raise by offering a base pay of $202,500 to first-year associates. Starting salaries for senior Davis Polk associates will be $365,000. In an effort to appreciate the hard work of its associates, Davis Polk announced new pay structure effective from July 1, 2021:

Davis Polk also became the standard setter in associate bonuses during the past year and has now offered a 6.5% pay raise for first-year associates.

However, after initially offering a raise on June 10, Milbank announced a re-raise for associates on June 29. This move comes in response to the higher salaries offered by competing law firms including Davis Polk and others. Milbank’s new pay raise for all associates ranges from a raise of $15,000 to $25,000, based upon their class years. The new pay scale will come into effect from July 1st, 2021. Here is what Milbank’s new salary scale will look like from this July:

Milbank has been the first to raise salaries previously as well. In 2018, the firm raised the starting salaries for its associates to $190,000. The firm’s restructuring practice boomed in 2020 as major retailers and companies were pushed into bankruptcy. Its revenue increased by 15.6% year-over-year in 2020 to $1.235 billion.

Following suit is Fried, Frank, Harris, Shriver, & Jacobson LLP, a New York-based law firm that advises leading investment funds and corporations in legal and business matters. Matching Davis Polk’s move, Fried Frank has also announced a pay raise for its associates with salaries starting from $202,500 for the class of 2021 and going up to $275,000 for the class of 2017. The salaries for associates from class years 2016 to 2012 range from $305,000 to $375,000 making Fried Frank’s pay to its senior most associates $10,000 more than the salary offered by Davis Polk to their senior most associates.

New York-based Cravath, Swaine & Moore has also joined the list of Big Law firms that have increased the base pay for associates. In 2018, Cravath had offered higher raises for mid-level and senior associates than Milbank. From July 1, 2021 associates from the batches of 2020 and 2019 will receive a salary of $205,000 and $215,000 respectively, a $15,000 increase from their current base pay. Associates from batches of 2018 and 2017 will receive a pay hike of $20,000, taking their salaries to $240,000 and $275,000 respectively. The pay for associates from the batches of 2016, 2015, and 2014 will witness a raise of $25,000 taking their new salaries to $305,000, $330,000, and $350,000 respectively.

An unexpected candidate in this race is the Boston-based law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. which is ranked 79th on Am Law 100 ranking. The firm, with gross revenue of around $502,100,000, has announced the pay raise offered to associates. Although the firm was quick to react this time, it took Mintz nearly 2 months to react to the pay raise in 2018. Following these firms, Mintz will now be offering a base salary of $200,000 to associates from class years 2021 and 2020. The salary for associates from class years 2019 to 2017 ranges from $210,000 to $270,000. The base salary for associates from the class year 2016 is set at $295,000 and the base salary for associates of the class year 2013 is fixed at $355,000.

Another law firm to react to the salary raise saga is Katten Muchin Rosenman LLP based in Chicago, Illinois. The firm is ranked 67th in the most recent Am Law 100 list and made nearly $646,601,000 in gross revenue in 2020. The firm has offered a higher starting salary of $205,000 to associates from the class of 2020. The pay for associates from the class of 2017 has gone up to $275,000 and the salary ranges between $305,000 for the class year 2016 to $350,000 for the class year 2014 and above. The new pay scale will be effective from July 1 across all of the firm’s United States offices. In addition to the pay raise, special bonuses will also be paid to associates who are eligible for the same.

The race further intensified when California-based law firm Fenwick & West LLP also announced salary increases for associates. The salary for Tier 1 associates will range from $205,000 to $240,000 based on their level of experience. Tier 2 associates will be paid a base salary ranging from $275,000 to $330,000 based on their experience. The base salary for Tier 3 associates will range from $350,000 to $375,000.

Another Big Law contender to respond to Milbank’s salary raise is Cadwalader, Wickersham & Taft LLP. The New York-based law firm has announced that associates will be offered a salary raise from July 1. The firm will offer a base salary of $365,000 to its senior associates of the class year 2013 and the new base pay for associates from class years 2020 and 2021 has been set at $205,000 and $202,500 respectively.

New York-based law firm Willkie Farr & Gallagher LLP announced on June 17th that the incoming batch of first-year associates of class years 2020 and 2021 will receive a salary of $205,000. This is a $15,000 increase from the previous pay scale of $190,000 for first-year associates and surpasses the pay scale set by Davis Polk. From July 1, associates at Willkie Farr & Gallagher will be paid according to the new pay scale that provides a base salary ranging from $215,000 for the class year 2019 to $305,000 for the class year 2016. The base salary for class years 2015, 2014, and 2013 and above will be $330,000, $350,000, and $365,000 respectively. The higher salary offered by Willkie Farr & Gallagher can give it an edge in the market as all the firms compete to lure and retain associates.

Pennsylvania-based law firm Dechert LLP has also announced salary increases for its United States associates by matching the base pay offered by Davis Polk to first-year associates. Dechert will offer a base salary of $202,500 to associates from the class year 2021 and the salary goes up to $275,000 for associates from the class year 2017. Associates from the class year 2016 will receive a base salary of $305,000 and the firm will pay a salary of $365,000 to associates from class years 2013 and above. The new pay scale will come into effect from July 1, 2021, and the firm has also offered a year-end extraordinary bonus to associates who exceed billable hours thresholds.

Paul, Weiss, Rifkind, Wharton & Garrison LLP, a New York-based international law firm with gross revenue of approximately $1,543,730,000 in 2020, has also announced its decision to bump up the salaries of its associates. The firm’s associates from the class year 2020 will now earn a salary of $205,000 and associates from the class year 2019 will be given $215,000 as salary. The salary for the class year 2018 has gone up to $240,000, whereas associates from the class year 2017 will receive an increased pay of $275,000. The firm’s senior associates from class years 2014 and 2013 and above will be paid a salary of $350,000 and $365,000 respectively. The new pay grid is effective from July 1st, 2021, and Paul Weiss will also raise the salaries of summer associates to match that of the class year 2020.

Debevoise & Plimpton LLP, a New York-based law firm that claimed a top 35 spot in the latest Am Law rankings with gross revenue of around $1,224,942,000 in 2020, also announced a salary hike for associates. The new salary scale at Debevoise provides a salary of $202,500 for the class year 2021 and it goes up to $215,000 for the class year 2019. Associates from the class year 2018 will be paid a base salary of $240,000 and associates from the class year 2017 will earn $275,000 as base salary. The pay for associates from the class year 2016 has been set at $305,000 and the same for associates from the class year 2015 is set at $330,000. The firm’s senior associates from class years 2014, 2013, and 2012 and above will be paid a salary of $350,000, $365,000, and $375,000 respectively. Counsels that are on Debevoise’s United States scale will also receive an increase in base salary that will be determined on a case-by-case basis.

Going by the swift moves made by these firms, it is evident that they were prepared for a much-awaited salary hike since the last hike that came in 2018. The lack of in-person events and travel due to the pandemic has allowed firms to increase their savings and offer higher pay and bonuses to associates. However, it is yet to be determined if salary hikes will be enough to retain associates as the pandemic has escalated the chances of burnout and top New York Law firms have lost more than 250 associates in 2021.

Part-2 of the law firm salary raise saga continued at: https://www.jdjournal.com/2021/06/30/the-law-firm-salary-raise-saga-part-2/

The post The Law Firm Salary Raise Saga: Part 1 first appeared on JDJournal Blog.