The raises are retroactive to January 1, will be reflected in February 15th paychecks... But even with that sizable bump, the pay scale at the firm still lags behind the $225K standard set by Milbank/ Cravath at the end of last year. Boo!
While it may not be shocking the firm is behind on pay, tipsters at the firm say it is feeding associate dissatisfaction. The firm has also discussed revamping the bonus formula, but as an insider noted, 'no one really expects it to be competitive...or that either will quell dissatisfaction...about half of the associates in my group are looking to lateral elsewhere.'
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