Morris Nichols Arsht Tunnell, a boutique law firm situated in Wilmington, Delaware, has announced an increase in salaries for its first-year associates to $210,000, securing a competitive edge in talent acquisition. This pay hike is also extended to the special counsel, though, the firm has not disclosed any specific figure. It appears that in making this move, Morris Nichols is part of a larger trend: elite law firms are currently upping pay to retain and attract the best legal talent. Bloomberg Law reported similar increases announced by Cravath, Swaine & Moore last November. The starting salary for first-tier associates there now stands at $225,000, a figure promptly matched by boutique firms like Susman Godfrey, Holwell Shuster & Goldberg, and Massumi + Consoli LLP.
“By prioritizing attorney recruiting and development, we aim to remain competitive for the best legal talent in the country,” commented Bill Lafferty, the chair of Morris Nichols’ executive committee. The firm’s clientele includes high-profile companies like Amazon.com Inc. and AT&T Corp. Morris Nichols is currently representing Amazon in its bid for licensing documents from Nokia Corp., documents that Amazon intends to leverage in ongoing German legal proceedings. Simultaneously, the firm is also tasked with defending AT&T and its CEO, John Stankey on charges alleging securities violations. Details on these cases can be found here and here.