Salaries Climb Higher for Top Law School Grads
The New York law firm of Simpson Thacher & Bartlett has raised the base salary for its first-year associates to $160,000, according to a report in the New York Law Journal.
The increase is likely to be matched by other law firms.
Law firms began raising associates' salaries last year, increasing annual salaries for brand-new J.D.s from the $125,000 that had been the standard for years to $145,000 in New York and $130,000 to $135,000 elsewhere.
Law firms usually follow one another's lead on associate salaries because they are all competing for a relatively small pool of graduates from the top law schools.
Source: "Simpson Hikes Pay; First-Years Go to $160,000," by Anthony Lin, the New York Law Journal, January 23, 2007
The increase is likely to be matched by other law firms.
Law firms began raising associates' salaries last year, increasing annual salaries for brand-new J.D.s from the $125,000 that had been the standard for years to $145,000 in New York and $130,000 to $135,000 elsewhere.
Law firms usually follow one another's lead on associate salaries because they are all competing for a relatively small pool of graduates from the top law schools.
Source: "Simpson Hikes Pay; First-Years Go to $160,000," by Anthony Lin, the New York Law Journal, January 23, 2007
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