Comp News – Willkie Farr & Gallagher is a special law firm this year. In the early Spring, they kicked off a round of special bonuses that triggered a cascading effect which led many other law firms to match those bonuses in what has become a hyper-competitive industry year. Now, the firm is pumping its compensation muscles again by increasing the salaries of all of its associates as well. Here’s what the new pay scale looks like for its associates:

2020/2021: $205,000

2019: $215,000

2018: $240,000

2017: $275,000

2016: $305,000

2015: $330,000

2014: $350,000

2013+: $365,000

Those are some nice numbers! Not only are they paying handsomely, but they’re now above the standard starting salary for first-year associates.

Note here that Willkie is flipping the switch for its youngest associates by offering a $205,000 salary for the Class of 2021, where as all over firms — including Davis Polk — are offering $202,500. It’s just a bit more, but it can make all the difference in a market where firms are eager to match the highest of salaries for all.

There’s still plenty of 2021 left to go, so only time will tell if they pull off a hat trick and announce a benefits package that lights another fire under the industry.

Read the full story here.

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