One after the other, Biglaw companies are doing the inevitable through the 2022 affiliate wage wars: matching Cravath’s beneficiant new compensation grid.
The newest agency to take action is one which already raised salaries simply final week. Texas-based Vinson & Elkins — a agency that introduced in $782,352,000 gross income in 2020, making it No. 59 in the newest Am Legislation 100 rating — adopted the Davis Polk wage scale on February 24, and right here they’re once more with a Cravath match. That is what the brand new wage scale seems to be like on the agency:
The agency’s wage will increase apply to their U.S. and London places of work. They’re retroactive to January 1, and associates will see their new compensation of their March 15 paychecks. Congratulations, once more!
(Flip to the following web page to learn the complete memo from Vinson & Elkins.)
Bear in mind everybody, we rely in your tricks to keep on high of these things. So when your agency matches, please textual content us (646-820-8477) or e mail us (topic line: “[Firm Name] Matches”). Please embrace the memo if obtainable. You’ll be able to take a photograph of the memo and ship it through textual content or e mail should you don’t wish to ahead the unique PDF or Phrase file.
And should you’d like to enroll in ATL’s Bonus Alerts (which is the alert listing we’ll additionally use for wage bulletins), please scroll down and enter your e mail deal with within the field under this submit. Should you beforehand signed up for the bonus alerts, you don’t have to do something. You’ll obtain an e mail notification inside minutes of every bonus announcement that we publish.
Staci Zaretsky is a senior editor at Above the Legislation, the place she’s labored since 2011. She’d love to listen to from you, so please be happy to e mail her with any ideas, questions, feedback, or critiques. You’ll be able to comply with her on Twitter or join along with her on LinkedIn.
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