Now this is an excellent way to keep kool this summer!
The Texas-based complex trial firm — which has made a habit of keeping things kool for associates through Thanksgiving bonuses, supersized year-end payouts, and raises when the market moves — is matching the new Milbank salary scale, with associates seeing raises of $10,000 to $20,000 depending on class year. The new scale runs from $235,000 for first-years to $455,000 for the class of 2018 and above.
There is one catch: the effective date is January 1, 2027 — several months behind the July 1 date most firms matching the Milbank scale have adopted.
Listen, it’s not ideal to have to wait till January for the raise, and associates at McKool will notice the gap. But given that traditional Biglaw has been conspicuously slow to move on the new scale, with the compensation scorecard still dominated by litigation boutiques months after Milbank’s announcement — a match is a match. And McKool Smith is not a firm that has ever needed to be accused of neglecting its people.
In the meantime, the rest of Biglaw remains conspicuously quiet. McKool matching — even on a delayed timeline — is more than most of the Am Law 100 has managed. We’ll take it.
Congratulations to everyone at McKool Smith. January can’t come soon enough.
Remember everyone, we depend on your tips to stay on top of compensation updates. When your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches”). Memo preferred, photo works just fine.
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 Bluesky @Kathryn1
