Bloomberg Law
June 10, 2021, 4:21 PMUpdated: June 10, 2021, 7:00 PM

Milbank, Cadwalader Raise Starting Associate Pay to $200,000 (2)

Meghan Tribe
Meghan Tribe

Milbank is upping salaries for its associates globally amid a hypercompetitive market for the legal industry’s young talent, and at least one Wall Street competitor, Cadwalader, Wickersham & Taft, has already matched.

Milbank confirmed Thursday that first-year associates will receive a $10,000 salary increase, bumping their starting pay from $190,000 to $200,000. Second and third years will also see $10,000 increases in their pay.

Fourth-year associates and above will see their salaries increase by $15,000, with its most senior associates’ total salaries reaching $355,000, according to the firm. The new salary scale will take effect July 1.

Cadwalader matched the ...

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