With New York's Simpson Thacher & Bartlett pushing first-year base pay to $160,000 -- and seventh years to $265,000 -- will other California-based firms be forced to follow suit?
L.A. recruiter Alan Miles thinks so. “Firms like O’Melveny, Gibson and Latham all think they’re top tier and if one of their tier is paying 160, I don’t see them not following suit,” said Miles, of Alan Miles and Associates. “If they don’t raise to Simpson’s level, it appears they’re underneath them and they’ll never let that happen."
That's music to associate ears, but as of late Monday, as news of Simpson's boost spread, firms were tight-lipped. Most major California-based firms -- apart from some boutiques that matched New York's last boost -- are still at $135,000.
Details here from the Legal Pad via CalLaw.com.