Milbank Tweed Hadley & McCloy announced June 4 a $10,000 pay increase to $190,000-a-year for starting lawyers, a pay hike that follows two years of freezes at the white shoe law firm’s salary scale for associates.
The new salary scale will pay first through third year associates $10,000-a-year more than the prior scale, explained Mark Scarsi, managing partner of Milbank’s Los Angeles office, which is located in Century City.
Associates with more than four years of experience at the firm will get $15,000 more per annum. For example, a fourth year associate will now earn $250,000 instead of $235,000.
According to Scarsi, Milbank is the first major law firm to announce a global salary scale hike this year, a bump that will start July 1.
Milbank is headquartered in New York City. It is tied for No. 33 on the Business Journal’s list of largest law firms in Los Angeles.
Scarsi estimated that Milbank currently has 60 associates in its Los Angeles office.
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