Wake Up Call: Cravath Sees and Raises Milbank on Associate Pay Scale

• Cravath indicated it will match Milbank’s recent pay hike for associates effective July 1, bringing starting pay to $190,000 for newly graduated lawyers, but it will pay associates at mid-scale and later years several thousand dollars more than Milbank has promised. Two years ago scores of firms followed Cravath’s lead when it hiked salaries for first-year associates to $180,000. So its latest move increases likelihood that other firms will now make the move to $190,000. ( BLB )

• Litigation boutique Selendy & Gay, whose founding partners split from Quinn Emanuel earlier this year, also raised its associate pay scale, ...