Milbank’s ‘Power Move’ On Raises May Show Us Biglaw’s Haves And Have-Nots

Ed. note: Welcome to our daily feature, Quote of the Day.

It’s a little bit of a power move. The top 25 law firms are making more money than ever, and they’re absolutely outpacing the next 25 and then the next 25—it’s not even close.

—  Sean Burke, founder of legal recruiter Whistler Partners, in comments given to Bloomberg Law, on Milbank’s decision to raise associate salaries to a scale ranging from $235,000 to $455,000. While the biggest and most profitable firms have traditionally moved in lockstep when it comes to associate compensation, this year’s salary wars may be highlighting an increasingly stark divide between the industry’s top tier and everyone else. Several firms have already matched Milbank, but many others are still weighing whether they can afford to keep pace.

Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.

The post Milbank’s ‘Power Move’ On Raises May Show Us Biglaw’s Haves And Have-Nots appeared first on Above the Law.

Ed. note: Welcome to our daily feature, Quote of the Day.

It’s a little bit of a power move. The top 25 law firms are making more money than ever, and they’re absolutely outpacing the next 25 and then the next 25—it’s not even close.

—  Sean Burke, founder of legal recruiter Whistler Partners, in comments given to Bloomberg Law, on Milbank’s decision to raise associate salaries to a scale ranging from $235,000 to $455,000. While the biggest and most profitable firms have traditionally moved in lockstep when it comes to associate compensation, this year’s salary wars may be highlighting an increasingly stark divide between the industry’s top tier and everyone else. Several firms have already matched Milbank, but many others are still weighing whether they can afford to keep pace.

Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.