Biglaw firms continue to assert their financial prowess by announcing salary increases, and numerous firms have had to raise compensation several times thanks to dueling salary scales emerging on the market. It seems that things have finally settled and Cravath’s generous offerings remain the prevailing salary rate.
Which firm is the latest to adopt Cravath’s $215,000 to $415,000 as its compensation scale?
That would be Fried Frank, a firm that’s currently ranked at No. 60 on the Am Law 100. This is the firm’s third round of raises. If you recall, the firm previously matched Milbank, and then matched Davis Polk. Here’s the new salary scale:
The firm’s salary increases are retroactive to January 1, and U.S. associates will see more money in their March 31 paychecks. U.K. associates will see their Cravath cash on March 25. Congratulations to everyone!
(Flip to the next page to see the full memo from Fried Frank.)
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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.
