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The new year has finally arrived, but we’re still hearing about firms that increased associate salaries just before 2023 ended. That’s right: yet another top law firm decided to stuff its associates’ holiday stockings with cash.
To that end, we’ve now confirmed that King & Spalding — a firm that brought in $2,020,354,000 gross revenue in 2022, putting it at No. 17 in the most recent Am Law 100 — has chosen to use the Cravath scale for its salary increases, meaning these are the salaries associates at the firm will see, effective January 1:
- Class of 2023 – $225,000
- Class of 2022 – $235,000
- Class of 2021 – $260,000
- Class of 2020 – $310,000
- Class of 2019 – $365,000
- Class of 2018 – $390,000
- Class of 2017+ – $420,000
New associate salaries will be reflected in the firm’s internal HR system later this week, on January 4.
As far as bonuses are concerned, associates should expect to hear about them “soon.” According to our sources, K&S offers additional money for every 100 hours billed over the firm’s minimum hours target of 1950. Combined with these new salaries, partner-track associates at the firm will be earning quite the pretty penny.
Congratulations to everyone at King & Spalding!
(Flip to the next page to read the full memo from the firm.)
Remember everyone, we depend on your tips to stay on top of compensation updates, so when your firm announces or matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Bonus/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 your help!
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.
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