Top 20 Biglaw Firm Delights With Associate Raises

// For the most profitable and biggest in Biglaw it is only a matter of time until they raise associate salaries. Once Cravath showed their hand earlier this week, if you want to recruit and retain elite legal talent, you have to respond to the new market standard on compensation.

With $2,150,365,000 in gross revenue last year making it #15 on the Am Law 100 ranking, Simpson Thacher is definitely elite. And now they’re paying associates like it.

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New compensation grid at Simpson is as follows, effective January 1:

Class Year 2024 Annual Salary Class of 2023   $225,000 Class of 2022 $235,000 Class of 2021 $260,000 Class of 2020 $310,000 Class of 2019 $365,000 Class of 2018 $390,000 Class of 2017 $420,000 Class of 2016 $435,000

Plus bonuses news, also up to the market standard.

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Bonuses will be paid on December 29th.

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.

And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks for all of your help!

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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 or Mastodon @[email protected].

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2023 Associate Salary Increase, Associate Bonus Watch 2023, Biglaw, Bonus News Alerts, Bonuses, Money, Simpson Thacher