The Wilmington corporate law firms of Richards, Layton & Finger, Potter Anderson, and Young Conaway announced that their starting salaries for associates have increased to $210,000, effective immediately.
A release from Richards Layton stated that the decision “reflects our pledge to recruit the most accomplished, talented law students and retain our dedicated, high-performing associates.”
“We value our associates and their commitment to excellence, and we are grateful for their hard work and dedication to the highest levels of client service. In recognition of our associates’ dedication and talent, the firm will continue to offer compensation and other benefits that are competitive in the marketplace,” said Lisa Schmidt, president of the firm. “As we mark our 125th year, we’re proud that while our roots as local lawyers go deep, we offer even our newest associates the opportunity to work on matters that are in the national spotlight.”
“We are pleased to announce this salary increase, which will be implemented across all associate levels, as a testament to our firm’s continued growth and dedication to associate satisfaction,” Bob Brady, chairman of Young Conaway stated in a press release “Young Conaway recognizes our attorneys are our most valuable asset, and we are committed to ensuring that their compensation reflects the sophisticated work they perform and their dedication to our clients.”
The law firms advise global companies, business partnerships, financial institutions, local businesses, and individuals across a range of practices, including corporate law, alternative entities, commercial law, bankruptcy and restructuring, and litigation.
Associates at corporate firms are known to work long hours and take on heavy workloads in a quest to become a partner who can earn an income into the mid-to-high six figures.
