As the end of the year approaches, the season for compensation news is upon us. After Milbank raised salaries and Cravath topped up for midlevel and senior associates, many other firms are matching the new compensation numbers. One such firm is Foley & Lardner, who turned over more than a billion dollars in gross revenue last year (precisely $1,080,332,000). Associates of the firm can expect to see a sharing of this substantial revenue.
New compensation figures were released by the firm, effective as of February 1st. This report notes that Foley & Lardner has continued its tradition of paying second-year associates slightly more than the industry average. Associates in the Class of 2022 at the firm will earn $5,000 more than their counterparts at Milbank, for instance. However, the firm’s compensation grid does stop at the $420,000 per class of 2017 line. Other firms have included an extra class or two on their respective grids.
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