Top 50 Biglaw Firm ‘FINALLY’ Hands Out Raises To Associates

// It’s mid-May, and yes, some Biglaw firms are still awarding their associates with raises. As it turns out, some firms — even firms that are in the Am Law Top 50 — just took a little longer to figure things out than others.

To that end, Foley & Lardner, a firm that took home $1,024,834,000 gross revenue in 2021, putting it in 48th place in the most recent Am Law 100, just surprised associates with news of a cash influx. “FINALLY,” one source at the firm told Above the Law. Unfortunately, associates will have to keep waiting to see the money because these “mid-year adjustments” won’t be effective until August.

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Here’s what the new salary scale looks like at the firm.

While it’s not an exact match of the Cravath scale, it’s pretty darned close (and the Class of 2020 will actually earn $5,000 more at Foley than at Cravath).

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August can’t come soon enough for associates. Congratulations!

(Flip to the next page to read the full memo from Foley & Lardner.)

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.

And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we’ll 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.

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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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Biglaw, Bonus News Alerts, Bonuses, Foley & Lardner, Money