Milbank, McDermott Raise Associate Salaries Up to $455,000

Milbank LLP is raising salaries for its associates, a move quickly followed by McDermott Will & Schulte.

Milbank upped its associate salaries by $10,000 to $20,000, depending on seniority, the Manhattan-founded law firm announced on Tuesday. The firm’s associate pay scale will now range from $235,000 to $455,000.

McDermott was the first to say it would match Milbank’s new scale, a move likely to be followed by several other firms.

Milbank is known as Big Law’s first mover when it comes to associate salaries. The firm kicked off the modern associate salary races in 2016 and boosted pay several times over the following years.