It's been 20 days since Milbank announced that it would increase every associate's base compensation by $10K. No one has matched. Instead, we've been treated to anonymous 'leaders' calling the minor raise tone-deaf and greedy.
Consider Cravath, who has one-upped Milbank's raises before. The firm has 299 associates according to Am Law, meaning a Milbank match costs the firm less than $3 million. Assuming the firm's revenue is stagnant this year, it brings in just a shade under $1 billion a year. That makes this raise a 0.3 percent hit.
Kirkland would have to cough up 0.3 percent of its revenue to lift its 2000 associates up by $10K. Ditto for Skadden's 1000 associates.
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