Biglaw associates are watching closely as major law firms delay responses to Milbank’s latest salary increase. Meanwhile, speculation is growing that some firms may wait until Labor Day to announce matching pay adjustments.
The uncertainty has added pressure across the industry. Additionally, associates are refreshing inboxes and tracking every compensation update.
Milbank’s move has once again restarted the Biglaw salary race. However, not all firms have followed yet.
Key Takeaways
- Milbank raised associate salaries by up to $20,000 across class years.
- Litigation boutiques have moved first, while large firms lag behind.
- Many Biglaw firms are likely waiting for clearer market signals.
- Labor Day is emerging as a possible benchmark for pay announcements.
- Most industry observers expect eventual matching across major firms.
Milbank Sparks a New Round of Biglaw Salary Wars
Milbank launched a new associate compensation increase on June 2. The firm raised salaries by $10,000 to $20,000 depending on class year.
First-year associates now earn $235,000. Meanwhile, eighth-year associates can earn up to $455,000. The new scale takes effect July 1.
As a result, Milbank immediately reset expectations across the legal market. However, reactions have been uneven.
Some firms responded quickly. Others have stayed silent.
Early Biglaw Matches Come From Litigation Firms
Elite Boutiques Move First
Several litigation-focused firms and elite boutiques moved quickly to match Milbank’s new scale.
For example, McDermott Will & Schulte matched shortly after the announcement. Quinn Emanuel also joined the list of firms adopting the updated compensation structure.
Additionally, multiple litigation boutiques have matched or even exceeded the new pay scale. Consequently, smaller elite firms have set the early pace in this salary cycle.
Large Law Firms Remain Quiet
Despite early movement from boutiques, many large Am Law firms have not yet announced matches.
Recruiters initially expected faster alignment. However, the response has been slower compared to previous salary cycles.
Still, silence does not necessarily signal disagreement with the new scale. Instead, it often reflects timing strategy.
Therefore, the key question in the market is not
if firms will match—but
when.
Why Biglaw Firms May Be Waiting
Market Leaders and the Cravath Effect
Historically, Biglaw firms often wait for compensation leadership signals before acting.
In many cycles, Cravath and other top market setters influence timing decisions across peer firms. If firms move too early, they risk issuing multiple updates within a short period.
Consequently, management committees may prefer to wait for clearer market alignment before announcing salary changes.
Financial Pressure and Strategic Timing
Law firm profitability remains strong in many segments. However, operating costs continue to rise.
For example, firms are investing heavily in artificial intelligence tools, legal tech systems, and recruiting infrastructure. Additionally, compensation remains one of the largest expense categories.
Therefore, some firms may be reviewing financial forecasts before committing to permanent salary increases.
Associates React to Delays and Uncertainty
Growing Frustration Across the Market
The longer firms delay matching Milbank, the more uncertainty builds among associates.
Many attorneys expect eventual alignment across major firms. However, timing remains the primary concern.
Meanwhile, online discussions show rising frustration as lawyers compare compensation updates in real time.
Bonus Speculation Returns
In previous salary cycles, firms sometimes paired raises with special bonuses.
However, this cycle has not yet produced a widespread bonus announcement. As a result, speculation has increased around whether additional compensation tools may appear later in the year.
Furthermore, associates are watching for mid-year announcements that could shift expectations again.
Recruiting Pressure Continues to Build
Compensation remains a central factor in Biglaw recruiting strategy.
Top firms compete aggressively for junior talent. Therefore, falling behind on market pay can create retention and hiring risks.
Additionally, recruiters note that salary transparency has increased significantly in recent years. Consequently, delays are more visible and more likely to affect perception.
Milbank has emphasized competitive compensation as part of its broader talent strategy. As a result, pressure continues to build across peer firms.
What Happens Next in the Salary Cycle?
Labor Day Emerging as a Possible Deadline
If large firms continue delaying announcements, Labor Day may become a key psychological milestone.
However, most industry observers do not expect firms to remain below Milbank’s scale for long.
Historically, Biglaw compensation tends to converge across top firms over time. Therefore, alignment remains the most likely outcome.
Possible Next Catalyst
The next major shift could come from another leading firm raising salaries again.
If that happens, firms may accelerate decisions rather than wait. Consequently, the salary cycle could continue evolving through the summer.
Until then, uncertainty remains the defining feature of the market.
FAQs
Why are Biglaw firms waiting to match Milbank pay?
Many firms wait for market leaders to move first. Additionally, financial planning and compensation coordination influence timing decisions.
Will all Biglaw firms eventually match Milbank’s scale?
Most industry observers expect broad eventual alignment. However, timing may vary by firm and practice group.
Which firms have already matched Milbank pay?
Early movers include litigation-focused firms such as McDermott Will & Schulte and Quinn Emanuel.
Could Labor Day be the key deadline for salary updates?
It is possible. However, firms may announce matches earlier if market pressure increases.
Are Biglaw associates receiving bonuses instead of raises?
Not widely in this cycle so far. However, bonus announcements could still emerge later in the year.
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Will Biglaw Firms Match Milbank Pay by Labor Day? first appeared on
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