Within the competitive climate of Biglaw, news regarding associate raises is swiftly making its rounds. At the centre of current discussions is Willkie Farr & Gallagher, whose significant gross revenue of 1,380,000,000 decidedly places it as a prominent player within the top 31 of the AmLaw 100 list.
Following in the footsteps of Cravath’s recent salary grid, and seemingly eager to keep up with the pace set by Milbank earlier this month, Willkie Farr & Gallagher has also introduced new associate salary raises.
A detailed rundown of the revised compensation and bonus grid at the firm is as follows:
- Class of 2023 associates will receive a prorated year-end bonus of $15,000 and will earn a salary of $225,000 as of January 1, 2024.
- Associates from the Class of 2022 will be awarded a $20,000 year-end bonus, with their salary adjusted to $235,000 starting January 1, 2024.
- Class of 2021 associates will see a bump in their salary to $260,000 on the said date, plus a year-end bonus of $30,000.
- Associates who were part of the Class of 2020 will receive a $57,500 bonus, with their salaries revised to $310,000 from January 1, 2024.
And it continues:
- Year-end bonus for Class of 2019 is $75,000 and their salary will be $365,000.
- Class of 2018 gets a bonus of $90,000 with their new salary totaling $390,000.
- Class of 2017 will receive bonus of $105,000 and their salary will read $420,000.
- Lastly, members of the Class of 2016 will receive $115,000 as bonus and will be earning $435,000 as their salary.
For a closer look at the newly instituted grid, the full memo can be found on the following page.
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