Biglaw Firms Better Match The New Salary Scale ASAP If They Want To Retain Their Talent
“Firms have been busier than ever and this is one way to demonstrate an appreciation for their associates, but also to show more broadly the long-term financial strength of the firm. Compensation increases are a permanent change and I expect that the firms that see long-term financial growth will increase their salaries as well,” reports Staci Zaretsky in Above The Law
“On the other side of the coin, the competition for talent is fierce. The firms that are aggressively hiring will likely match so that they will be able to retain and attract talent. Associates take into consideration whether a firm matches salaries and/or bonuses when they are deciding to stay or leave their firm, as it speaks volumes of their long-term financial outlook and how these firms value their associates given the number of hours they have been putting in.”