Paul Weiss Raises Associate Salaries to Match Davis Polk Pay (6)

Associate salary increases are gaining steam at some of Wall Street’s wealthiest law firms, including Paul, Weiss, Rifkind, Wharton & Garrison, which has announced it is raising associate salaries to match the new scale set by Davis Polk & Wardwell.

In a memo sent by Paul Weiss chair Brad Karp, he said the firm is increasing the starting salaries for first-year associates as of July 1 to $205,000 while its more senior associates will see their salaries bump up to $365,000, following the scale recently announced by Davis Polk.

Summer associate salaries will be increased to match the class of ...