Top 25 Biglaw Firm Makes Another Salary Move

// Biglaw is in the middle of a hot lateral market. That means that firms have to be willing to pay the tippy top of market compensation (plus other perks) to recruit and retain the associates that keep the deals/cases moving.

Goodwin Procter — a firm making $1,486,263,000 in 2020 gross revenue, making it 23rd on the Am Law 100 — already announced raises way back in January when the Milbank scale was the top of the market. Of course, since then both Davis Polk and Cravath have taken a crack at raises, and now that higher Cravath scale is what’s holding sway. And now that the dust seems to have settled, Goodwin is raising salaries again.

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The new scale at the firm is as follows:

Salary Class

Annual Base Salary Effective January 1, 2022
(Increases reflected in March 2022 Pay)

2021

$215,000

2020

$225,000

2019

$250,000

2018

$295,000

2017

$345,000

2016

$370,000

2015

$400,000

2014+

$415,000

 

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These increases are also retroactive to January 1. You can read the full memo on the next page.

*** Wondering if the grass is greener on the in-house side? Click here for a look inside the black box of corporate counsel pay in our 2021 In-House Compensation Report. ***

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).

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2022 Associate Salary Increase, Biglaw, Bonus News Alerts, Bonuses, Goodwin Procter, Money