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Raises are sweeping through Biglaw, thanks to Milbank and Cravath.
You don’t even have to be based in the United States to get caught up in Biglaw raise-mania. UK-based Herbert Smith Freehills, a firm that made $1,467,201,000 in gross revenue last year, is raising associate salaries in its New York office.
The new compensation scale — and bonus grid — at the firm is as follows:
| Class year | 2024 Base Salary | Year-End Bonus |
| 2023 | $225,000 | $15,000 (pro-rated) |
| 2022 | $235,000 | $20,000 |
| 2021 | $260,000 | $30,000 |
| 2020 | $310,000 | $57,500 |
| 2019 | $365,000 | $75,000 |
| 2018 | $390,000 | $90,000 |
| 2017 | $420,000 | $105,000 |
| 2016 | $435,000 | $115,000 |
You can read the full memo on the next page.
Remember everyone, we depend on your tips to stay on top of important bonus updates, so when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches”). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file.
And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks for all of your help!
Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Mastodon @Kathryn1@mastodon.social.
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