The Big Law salary scale no longer starts below $200,000—just one change from an extraordinary period of competition for young lawyers that is being driven by relentless work demands.
Davis Polk ratcheted up starting salaries to $202,500 on Friday, a 6.5% raise for first-year associates. The increase keeps salaries roughly in-line with inflation since the last time Big Law firms raised them in 2018.
“This is the market speaking,” said Kay Hoppe, a veteran legal recruiter based in Chicago. “Law firms are desperate for help. And they are desperate to hold onto what they have.”
Some associates and industry sources ...