The Biglaw Raise Wave Goes International
Raises are catching on like wildfire.
Raises are sweeping through Biglaw, thanks to Milbank and Cravath.
You don’t even have to be based in the United States to get caught up in Biglaw raise-mania. UK-based Herbert Smith Freehills, a firm that made $1,467,201,000 in gross revenue last year, is raising associate salaries in its New York office.
The new compensation scale — and bonus grid — at the firm is as follows:
| Class year | 2024 Base Salary | Year-End Bonus |
| 2023 | $225,000 | $15,000 (pro-rated) |
| 2022 | $235,000 | $20,000 |
| 2021 | $260,000 | $30,000 |
| 2020 | $310,000 | $57,500 |
| 2019 | $365,000 | $75,000 |
| 2018 | $390,000 | $90,000 |
| 2017 | $420,000 | $105,000 |
| 2016 | $435,000 | $115,000 |
You can read the full memo on the next page.
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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 @Kathryn1@mastodon.social.
