Biglaw resolute Matches Cravath Compensation For Associates Who Are ‘On Scale’
Biglaw Firm Matches Cravath Compensation For Associates Who Are ‘On Scale’
Money is flying around Biglaw right now, and firms throughout the Am Law 200 continue to swoop in to match the Cravath salary scale. With associates now earning between $215,000 and $415,000, that’s a nice payday.
A little birdie told us that the latest firm to adopt the Cravath compensation system is Alston & Bird, a firm that’s currently ranked at No. 53 in the most recent Am Law 100. With $851,601,000 gross revenue in 2020, this firm can certainly afford to share its largesse with associates. This is what the new salary scale looks like at the firm:
It’s worth noting, however, that only those associates who are “on scale” will be receiving these raises. So, what does “on scale” mean here? Some of the associates we’ve heard from seem a bit wary about that language. The memo from the firm seems a bit vague, if we’re being honest.
Are these raises tied to hours? Are these raises discretionary? Could this be a match in name only? Alston & Bird associates, we’re relying on you to let us know. Please reach out to us give us your opinion on these raises. Your comments may find their way into an update (anonymously, of course).
Congrats to everyone at the firm who may (or may not) be receiving raises.
(Flip to the next page to see the memo from Alston & Bird.)
Remember everyone, we depend on your tips to stay on top of this stuff. So when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches Cravath”). 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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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.
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