Lost in the shuffle of the Labor Day holiday and the Kavanaugh circus, we got another Biglaw firm raising salaries. Consider it something of a Labor Day present.
Loeb & Loeb is joining the $190K club for first-year associates, but the older you get, the less exciting the news… at least when it comes to base salary. Let’s take a look:
So things match up until the third year and then get a little crunched. The third year comes up $10K short, fourth is $35K short, fifth and sixth are both $55K under, seventh is $60K light, and the eighth year falls $65K shy. But just when you think this is bad news for Loeb associates, they get some exciting news on the bonus side:
So except for a 1900 hour billing first year, every single level is getting a bigger bonus than their peers at other firms. A 2300 hour billing eighth year is looking at $150K more than the standard summer bonus scale.
(Check out the memo on the next page…)
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Another Firm Raises Salaries Right Before Labor Day curated from Above the Law
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