Another day, another law firm, another new compensation scale in the fiercely competitive field of Big Law firms looking to retain its hard-working associates!
The firm announcing salary increases this time around is Holland & Knight, ranked 38th on the Am Law 100 with $1,044,337,000 in 2020 gross revenue. The firm has been in the news recently for its potential merger with Thompson & Knight, but now, the firm is making news by offering lockstep salaries in each and every one of its U.S. offices.
The pay scale starts at $190,000 for new associates and caps out at $340,000 for high level associates. The new tiers of compensation officially go into effect on July 1st.
Steven Sonberg, the firm’s managing partner, noted that H&K is also “reviewing [its] annual associate bonus program to ensure it is market-competitive” and that any changes made “will not impact the special bonuses that were announced in April.” (That’s because for the firm’s bonus program to remain market-competitive, nothing can impact those bonuses.)
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