Associate pay raises announced Monday by Milbank, Tweed, Hadley & McCloy weren’t immediately matched by a slew of firms, but industry observers said they expect Milbank’s move to have a cascading effect in the industry.
Milbank told associates around midday Monday that it is raising associate salaries by $10,000 for first through third years, with starting pay at $190,000. Associates in their fourth through eighth years would see their salary increase by $15,000.
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