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Associate Salary Stratification More Likely In 'Buyer's Market'
Since Cravath, Swaine & Moore upped the ante on associate salaries this Spring, others in the big law community have responded gradually, some going all-in and others devising region-specific pay scales. In the current market, industry watchers say, the salary game has changed, and most firms will need to take the more thoughtful approach.
As firms adapt to new standards for associate pay, many of them are likely to adopt pay structures that vary by office location, consultants and recruiters say. And while that phenomenon is nothing new, they say, client pressure is likely to have a growing role in how those decisions are made.
The legal industry watchers note that this is the first big wave of salary increases to hit the market in about a decade. Since last time, decision-making in the legal industry has changed.
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