Now we have our first match on the brand new Biglaw pay scale
Well well well. It didn’t take long.
Today, Milbank reaffirmed its dominance over the biglaw compensation market by giving all employees a raise and raising compensation to $ 200,000 in the first year – a threshold long hoped for in the industry. As exciting as that initial announcement was, the real question was how quickly the rest of the market would keep up (or, if we dared hope, exceed the standard set by Milbank).
Now we have our answer.
McDermott confirmed that they would match the Milbank scale. This means that the salaries of employees in the company will soon be as follows:
2020 $ 200,000
2019 $ 210,000
2018 $ 230,000
2017 $ 270,000
2016 $ 295,000
2015 $ 320,000
2014 $ 340,000
2013 $ 355,000
Remember, this is in addition to any special bonuses that the company has customized, as well as year-end bonuses. That’s a pretty nifty payday, pandemic or not.
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Kathryn Rubino is Senior Editor at Above the Law and host of The Jabot podcast. AtL tipsters are the best, so please contact them. Feel free to email her with tips, questions, or comments and follow her on Twitter (@ Kathryn1).