After a month of wondering whether Biglaw as a collective will get on board with associate raises, it looks like we finally have our answer. Today a bunch of firms announced they’d be matching the prevailing market rate, set by the combination of Milbank and Davis Polk. And we don’t expect the good news to stop any time soon.
The latest firm to announce raises is Proskauer Rose. The firm took in $989,981,000 in gross revenue in 2020, making it 43rd on the Am Law 100, and now they’re sharing that largesse with the hardworking associates.
Proskauer Rose will be paying associates according to the following grid:
These raises will be retroactive to January 1 and will be paid on March 15th. You can read the full memo on the next page.
Remember everyone, we depend on your tips to stay on top of important bonus updates, 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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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).