Salary for 1st, 2nd, 3rd etc.. year associates

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ninja
Posts: 4
Joined: Sun Mar 18, 2012 12:25 pm

Salary for 1st, 2nd, 3rd etc.. year associates

Postby ninja » Mon Jan 28, 2013 12:59 pm

Hello, if one is lucky enough to secure a big law first year position at $160K, what is the salary progression in later years as an associate? If it matters which market I am specifically thinking about the Houston/Dallas markets..

Thanks

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thesealocust
Posts: 8442
Joined: Mon Oct 20, 2008 8:50 pm

Re: Salary for 1st, 2nd, 3rd etc.. year associates

Postby thesealocust » Mon Jan 28, 2013 1:45 pm

Many firms in smaller markets have very strange, if not flat, salary progressions.

The big name Vault firms (branch offices or headquarters) likely follow the standard NYC big firm scale, which is:

1st year: 160
2nd year: 170
3rd year: 185
4th year: 210
5th year: 230
6th year: 250
7th year: 265
8th year: 280

ninja
Posts: 4
Joined: Sun Mar 18, 2012 12:25 pm

Re: Salary for 1st, 2nd, 3rd etc.. year associates

Postby ninja » Mon Jan 28, 2013 2:27 pm

thesealocust wrote:Many firms in smaller markets have very strange, if not flat, salary progressions.

The big name Vault firms (branch offices or headquarters) likely follow the standard NYC big firm scale, which is:

1st year: 160
2nd year: 170
3rd year: 185
4th year: 210
5th year: 230
6th year: 250
7th year: 265
8th year: 280


thanks for this.. is there typically a bonus structure on top of the base salary? Is the bonus generally based on billable hour targets? Do you know the general billable target for these firms?

cheers!


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thesealocust
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Joined: Mon Oct 20, 2008 8:50 pm

Re: Salary for 1st, 2nd, 3rd etc.. year associates

Postby thesealocust » Mon Jan 28, 2013 3:08 pm

Bonuses very every year, but are typically quite consistent amongst large law firms. Back in boom times you could get a 35K bonus as a first year at basically any firm, most recently it was 10K, and the years between saw it close to zero. Bonuses are likewise larger per class year and at the average firm (if not most firms) tied only to seniority.

There's more variation to bonuses than salary structures, but that's the general lay of the land.




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