One by one, Biglaw firms are doing the inevitable during the 2022 associate salary wars: matching Cravath’s generous new compensation grid.
The latest firm to do so is one that already raised salaries just last week. Texas-based Vinson & Elkins — a firm that brought in $782,352,000 gross revenue in 2020, making it No. 59 in the most recent Am Law 100 ranking — adopted the Davis Polk salary scale on February 24, and here they are again with a Cravath match. This is what the new salary scale looks like at the firm:
The firm’s salary increases apply to their U.S. and London offices. They’re retroactive to January 1, and associates will see their new compensation in their March 15 paychecks. Congratulations, again!
(Flip to the next page to read the full memo from Vinson & Elkins.)
Remember everyone, we depend on your tips to stay on top of this stuff. So when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches”). 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.
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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 or connect with her on LinkedIn.
