Despite the recent increase in Biglaw salary announcements, there’s a general suspicion that not every firm would be able to match. It’s uncertain whether the raise cutoff would cater to the top 50 or 100 Biglaw companies and if such divisions will be based on geography.
Nevertheless, Texas-based Baker Botts – a firm boasting gross revenue of $752,495,000 last year – is pushing past location limitations to match the peak of the Biglaw compensation market. Other firms with Texas affiliations have matched, but Baker Botts is the first Texas-rooted firm we know of to raise its starting salary to $225,000. The new pay rates apply to all of the firm’s seven U.S. offices.
Effective the first day of the new year, the following compensation grid will take effect at Baker Botts:
- 2023: $225,000
- 2022: $235,000
- 2021: $260,000
- 2020: $310,000
- 2019: $365,000
- 2018: $390,000
- 2017: $420,000
- 2016 and prior: $435,000
On top of the new salary structure, the firm also offers bonuses in addition to other productivity and performance requirements, on the following scale:
- 2022: $20,000
- 2021: $30,000
- 2020: $57,500
- 2019: $75,000
- 2018: $90,000
- 2017: $105,000
- 2016 and prior: $115,000
As a special commendation to outstanding associates, the firm will be providing “enhanced bonuses” for their “exceptional contributions.” The full memo can be read on the next page.
With these changes taking place, firms are advised to keep an eye on significant bonus updates. When your firm matches, it is encouraged that you text (646-820-8477) or email (subject line: “[Firm Name] Matches”) with any relevant memos attached.
For more information regarding similar pay increase alterations, you can sign up for ATL’s Bonus Alerts and receive email notifications within minutes of each bonus announcement being published.