It’s been less than six months since the big Biglaw wage war began in 2022, and some companies are now earning money for associates. Which is the latest firm to step in and increase the salaries of its hardworking lawyers?
That would be Kasowitz Benson Torres, who grossed $ 238,409,000 in 2021, placing the company 142nd in the latest Am Law 200 rankings.
This is a Cravath match and, according to the memorandum, it appears that these increases are only applied to the associates in the company’s New York office. If you remember, the last time Kasowitz raised salaries in 2021 was a firm-level move in all offices. However, don’t worry, because a source tells us that most lawyers in the company’s satellite offices are partners, advisors or very senior, so limiting salary increases in New York will “not be likely. [have a] huge impact. “
These salary adjustments take effect on April 1, 2022, so the associates will receive some real money in their June salaries. Congratulations to all New York company associates!
(Turn to the next page to read the full note from Kasowitz.)
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Staci Zaretsky is a senior editor at Above the Law, where she has been working since 2011. She would love to hear from you, so feel free to email her with any tips, questions, comments or criticisms. You can follow her on Twitter or connect with her on LinkedIn.