Spring has brought with it more than just blooming flowers and warmer weather, it seems. A well-known Biglaw firm, Morris Nichols Arsht & Tunnell, announced earlier this week that it will be increasing salaries for all associates and special counsel, effective immediately. Rated as one of the top firms in the Mid-Atlantic region by Vault, the Delaware-based outfit has lifted the starting salary for entry-level associates from $190,000 to $210,000, a significant increase of $20,000.
Morris Nichols prides itself on its commitment to attracting and retaining high-quality attorneys to sustain its position as a leading Delaware law firm, according to a recent press release from the company. Although the release did not specifically confirm salary increases for all associates, one can infer that correspondingly substantial raises would be extended to other staff levels as well.
This move is interpreted as the firm’s strategy to benefit from the lateral market. As Bill Lafferty, chair of the Morris Nichols’ executive committee, stated in their press release, “Our ability to attract and retain top-notch associates and special counsel is the cornerstone of our Firm’s continued success. Delaware is a remarkable place to practice law, with the best courts and judges in the country and headline-grabbing cases of national significance. By prioritizing attorney recruiting and development, we aim to remain competitive for the best legal talent in the country.”
While this rise in the starting salary for first-year associates at Morris Nichols does not quite match the Cravath benchmark of a staggering $225,000 for the Class of 2023 predominant in larger markets, it is nonetheless an appreciable increase.