Catching Up to The New Market for First-Year Salaries

Blank Rome was one of the first Philadelphia firms in 2007 to announce it would be increasing starting salaries for first-year associates to $135,000. The dominoes began to fall as other firms followed suit, with many surpassing the $135,00 mark and going to $145,000.Morgan Lewis & Bockius and Dechert had been at that rate and then Drinker Biddle & Reath and Pepper Hamilton matched it in September.

As the market shifted, Blank Rome decided recently to make another adjustment. Starting in January 2008, the firm will pay Philadelphia first-years $145,000, according to an Oct. 3 memo sent by firm management that was posted on Abovethelaw.com.

The firm confirmed the memo was accurate.

The New York and Washington, D.C., offices will also get an increase above the one they received earlier this year. New York first-years will earn $160,000 and Washington starting associates will be paid $150,000.

Ballard Spahr Andrews & Ingersoll increased its starting salary for a second time as well. The firm will move from the $135,000 it instituted this year to $145,000 as of January 2008, Chairman Arthur Makadon said. He said all associates in all offices would receive a $10,000 increase.

~Gina Passarella, Staff Reporter

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