Wake Up Call: McDermott Matches Milbank’s Associate Pay Hike

In today’s column, as Big Law firms battle for scarce associate talent to help handle a flood of deal work, a handful of firms have raised yearly associate pay by $10,000 to $20,000; another firm said it will pay its former lawyers $25,000 for associate recruiting tips that pan out; Washington lobby firms had record revenues in 2021.

• Leading off, McDermott Will & Emery joined Cadwalader among Big Law firms matching Milbank’s latest pay hikes for associates, which range from $10,000 to $20,000 depending on class year. The raises, which come amid fierce competition for talent in the legal profession, ...