Bloomberg Law
March 8, 2022, 11:01 AM

Big Law’s Pay War Is Dangerous Game for Firms Posing as ‘Elite’

Meghan Tribe
Meghan Tribe

An ongoing pay war is making lawyers at some of the top firms in the world more money than ever before. It’s also exposing a growing fault line between the richest firms and everyone else.

In just a few weeks, Milbank LLP, Davis Polk & Wardwell and Cravath Swaine & Moore all announced a series of compensation increases that saw annual pay soar by 13% to $415,000 for their most senior associates.

As the salary scales reach new heights, many of the top performing law firms have quickly moved to match—seeing it as an imperative in the tightening battle for ...

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