‘Over The Top’: The Race To Outdo Milbank’s New Salary Scale Has Officially Started
Industry insiders think a firm could soon top the market’s latest salary increase.
Ed. note: Welcome to our daily feature, Quote of the Day.
I wouldn’t be surprised if someone goes over the top [of Milbank’s increase] in the next few weeks. Attracting talent at the top end is so vital, and being seen as the firm who’s capable of boosting associate compensation across the board—the firm that’s moving the market—is just such a big notch on the belt when it comes to the talent fight.
— Thomas Hanlon, executive director of recruiting firm Buchanan Law, in comments given to the American Lawyer, concerning the associate salary increase started by Milbank earlier this week, that was quickly matched by McDermott,Hueston Hennigan, VKHH, and Quinn Emanuel. Stephanie Biderman, an associate recruiter for Major Lindsey & Africa, agreed, saying, “My understanding is now OCI is starting really, really early. The fact that we’re seeing this come out now does have a helpful marketing and recruiting angle.”
Read Tom’s full commentary in Above the Law (US) here.