Abracadabra! We know this firm is trying to escape its Magic Circle designation, but this money ring is the only magic circle its associates care about right now. Freshfields just announced a salary increase for its U.S. associates, and they’re thrilled.
Now that Linklaters and Freshfields have entered the arena, it’s time for other firms like Allen & Overy and Clifford Chance to step up to the plate with bigger, better associate salaries.
Here’s what the new salary scale looks like at Freshfields, thanks to Davis Polk:
- Class of 2021: $215,000
- Class of 2020: $225,000
- Class of 2019: $250,000
- Class of 2018: $293,500
- Class of 2017: $335,000
- Class of 2016: $360,500
- Class of 2015: $381,000
- Class of 2014+: $396,500
Like its peer firms, associates at Freshfields will see their new salaries in their March 15th paychecks, retroactive to January 1. Congratulations!
(Flip to the next page to read the full memo from Freshfields.)
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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.