Global law firm, Paul, Weiss, Rifkind, Wharton & Garrison, has decided to match a new associate salary scale introduced by law firm Cravath, Swaine & Moore. Notably, Paul Weiss has added an additional salary bracket for eighth-year associates, promising “discretionary bonuses” in early 2024, a move consistent with the firm’s practices in previous years. The details of the new salary scales were shared by Paul Weiss’s chair, Brad Karp, in a recent firm memo.
Starting January 1, 2024, the new pay scale will see first-year associates at Paul Weiss receiving salaries starting from $225,000. For associates who joined the firm in 2017, the salary would go up to $420,000. Interestingly, eighth-year associates at the firm can now expect to earn $435,000, a figure surpassing the Milbank scale.
More details about the announcement are available in the original report, available here.