It’s the time of year when law firms globally are deciding on next year’s compensation packages. High on the agenda, Alston & Bird, a noteworthy player ranked 47th on the Am Law 200 in terms of gross revenue in the previous year, totaling $1,061,457,000. A sizeable portion of this revenue is now headed for the pockets of the firm’s associates (Above the Law).
As of the 1st of January, associates at Alston & Bird will welcome an increase in their salaries. The adjusted salaries are as follows:
- Class of 2023: $225K
- Class of 2022: $235K
- Class of 2021: $260K
- Class of 2020: $310K
- Class of 2019: $365K
- Class of 2018: $390K
- Class of 2017: $420K
On top of the salary increment, the firm plans to disburse bonuses to associates who meet the 2000-hour billing threshold. There are also additional bonuses for those billing more than 2200 hours – and in specific instances, for those making substantial non-billable contributions to the firm.
- Class of 2023: $15K (pro-rated)
- Class of 2022: $20K
- Class of 2021: $30K
- Class of 2020: $57.5K
- Class of 2019: $75K
- Class of 2018: $90K
- Class of 2017: $105K
- Class of 2016+: $115K
While associates are thrilled about the pay rise, there are some grumblings about the firm’s informal policy of requiring 5-day a week in-person attendance because Alston is “not a hybrid firm”. It’s another tangent in the multifaceted struggle for firms to retain top-notch talent.