Workers who money in tons of money at this biglaw agency
Biglaw Law Firm After Biglaw Law Firm After Biglaw Law Firm has increased salaries to match the new market size Davis Polk launched just last week. There’s a reason these firms are so eager to raise their wages: the lateral market is insane right now, and keeping up with cash compensation is the best way to retain and recruit employees. But not only companies at the top of the ranking increase their salaries.
Yesterday afternoon, Kramer Levin – a company ranked 98th on the latest Am Law 100 with gross sales of $ 390,000,000 in 2020 – announced that it would meet the new market standard. Commenting on the company’s money movements, Co-Directors Paul Schoeman and Howard Spilko said:
“Retaining and recruiting top talent is of paramount importance to our ability to provide our clients with the highest level of legal services. The salary increases recognize the valuable contributions our associates and special counsel have made to the firm and our clients. “
Here’s what the salaries in the company’s New York and Silicon Valley offices will look like:
- 2020: $ 205,000
- 2019: $ 215,000
- 2018: $ 240,000
- 2017: $ 275,000
- 2016: $ 305,000
- 2015: $ 330,000
- 2014: $ 350,000
- 2013: $ 365,000
- 2012: $ 375,000
Kramer Levin is one of the few companies that offers its employees a raise of up to $ 375,000 for their ninth year employees. We love to see it. Congratulations to everyone in the company!
(Scroll to the next page to see Kramer Levin’s full memo.)
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Staci Zaretsky is Senior Editor at Above the Law, where she has been working since 2011. She’d love to hear from you, so don’t hesitate to email her tips, questions, comments, or criticism. You can follow her on Twitter or connect with her on LinkedIn.