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2006 New York City Elite Law Firm Total Compensation Last updated: February 8, 2007, 6:20PM Email Comments / Corrections: contact@autoadmit.com Legend: Market Leader | Market Follower | Below Market | *Prorated
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|---|---|---|---|---|---|---|---|---|---|---|---|
| Law Firm | Vault Rank |
2006 Bonuses Announced? |
Headquarters | Class of 2006* | Class of 2005 | Class of 2004 | Class of 2003 | Class of 2002 | Class of 2001 | Class of 2000 | Class of 1999 |
| Wachtell Lipton |
1 |
Yes | New York, NY | $300,000 | $300,000 | $320,000 | $350,000 | $390,000 | $430,000 | Unknown | Unknown |
| Cravath Swaine & Moore | 2 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $290,000 | $305,000 |
| Sullivan & Cromwell | 3 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $290,000 | $305,000 |
| Skadden Arps | 4 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Davis Polk & Wardwell | 5 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Simpson Thacher & Bartlett | 6 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $290,000 | $305,000 |
| Cleary Gottlieb | 7 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Latham & Watkins6 | 8 | Yes | Los Angeles, CA | Unknown | median: $180,000 (min: $180,000) | median: $195,000 (min: $195,000) | median: $47,500 (min: $215,000) | median: $242,500 (min: $240,000) | median: $267,500 (min: $265,000) | median: $291,250 (min: $285,000) | median: $317,500 (min: $305,000) |
| Weil Gotshal | 9 | No | New York, NY | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Kirkland & Ellis | 10 | Yes | Chicago, IL | Unknown | $170,000 to $214,000 (median: $197,000) | $172,000 to $233,000 (median: $214,000) | $200,000 to $266,000 (median: $240,000) | $240,000 to $323,000 (median: $272,000) | $247,000 to $318,000 (median: $300,000) | $312,000 to $365,000 (median: $339,000) | Promotion to Non-Equity Partner |
| Covington & Burling | 11 | Yes | Washington, DC | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Paul Weiss | 12 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $270,000 | $290,000 | $305,000 |
| Debevoise & Plimpton | 13 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Wilmer Hale | 14 | No | Washington, DC | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Shearman & Sterling | 15 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Sidley Austin1 | 16 | Yes | Chicago, IL | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $280,000 to $285,000 | $295,000 to $305,000 |
| Gibson Dunn | 18 | No | Los Angeles, CA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Arnold & Porter | 19 | No | Washington, DC | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| O'Melveny & Myers | 20 | No | Los Angeles, CA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| White & Case | 21 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Jones Day | 22 | No | Washington, DC | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Morrison & Foerster | 23 | Yes | San Francisco, CA | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Hogan & Hartson | 24 | No | Washington, DC | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Ropes & Gray | 25 | Yes | Boston, MA | $175,000 | $180,000 | $195,000 | Unknown | Unknown | Unknown | Unknown | Unknown |
| Clifford Chance | 26 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Mayer Brown | 27 | No | Chicago, IL | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Milbank Tweed | 28 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Fried Frank2 | 29 | Yes | New York, NY | $178,500 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Paul Hastings8 | 30 | Yes | Los Angeles, CA | $180,000 | $180,000 | $194,153 | $213,718 | Unknown | Unknown | Unknown | Unknown |
| Cadwalader Wickersham & Taft | 31 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Dewey Ballantine3 | 32 | Yes | New York, NY | $161,750 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Akin Gump | 33 | No | Washington, DC | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Wilson Sonsini | 34 | No | Palo Alto, CA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Winston & Strawn | 35 | No | Chicago, IL | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| King & Spalding | 36 | No | Atlanta, GA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Willkie Farr | 37 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Orrick, Herrington & Sutcliffe | 38 | No | San Francisco, CA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Proskauer Rose | 39 | No | New York, NY | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Baker Botts | 40 | No | Houston, TX | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Morgan Lewis | 41 | No | Philadelphia, PA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Freshfields | 42 | No | London, UK | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Baker & McKenzie | 43 | No | Chicago, IL | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Linklaters | 44 | Yes | London, UK | $180,000 | $180,000 | Unknown | Unknown | Unknown | Unknown | Unknown | Unknown |
| Boies, Schiller & Flexner | 45 | No | Armonk, NY | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Pillsbury Winthrop | 46 | No | San Francisco, CA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| McDermott, Will & Emery | 47 | No | Chicago, IL | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Jenner & Block | 48 | No | Chicago, IL | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| DLA Piper | 49 | No | Chicago, IL | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Fulbright & Jaworski | 50 | No | Houston, TX | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Dechert | 51 | No | Philadelphia, PA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Goodwin Procter | 53 | No | Boston, MA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| LeBoeuf Lamb4 | 54 | Yes | New York, NY | $175,000 to $190,000 | $180,000 to $195,000 | $195,000 to $210,000 | $215,000 to $230,000 | $240,000 to $255,000 | $265,000 to $280,000 | $285,000 to $300,000 | $305,000 to $320,000 |
| Cahill Gordon | 55 | Yes | New York, NY | $175,000 | $180,000 | $195,000 | $215,000 | $240,000 | $265,000 | $285,000 | $305,000 |
| Cooley Godward | 57 | No | Palo Alto, CA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Vinson & Elkins | 58 | No | Houston, TX | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Alston & Bird | 59 | No | Atlanta, GA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Allen & Overy | 60 | No | London, UK | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Sonnenschein Nath & Rosenthal | 61 | No | Chicago, IL | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Heller Ehrman | 62 | No | San Francisco, CA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Fish & Richardson | 63 | No | Boston, MA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Holland & Knight | 64 | No | Tampa, FL | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Greenberg Traurig | 65 | No | Miami, FL | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Bingham McCutchen | 66 | No | Boston, MA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Kaye Scholer | 67 | No | New York, NY | Unknown | $180,000 | $195,000 | $215,000 | Unknown | Unknown | Unknown | Unknown |
| Foley & Lardner | 68 | No | Milwaukee, WI | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Steptoe & Johnson | 69 | No | Washington, DC | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Hunton & Williams | 70 | No | Richmond, VA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Chadbourne & Parke | 73 | No | New York, NY | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| K&L Gates | 74 | No | Pittsburgh, PA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Nixon Peabody | 75 | No | Boston, MA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Schulte Roth & Zabel5 | 76 | Yes | New York, NY | $155,000 or $175,000 or $185,000 or $195,000 | $155,000 or $180,000 or $190,000 or $200,000 | $165,000 or $195,000 or $205,000 or $215,000 | $180,000 or $215,000 or $225,000 or $235,000 | $200,000 or $240,000 or $250,000 or $60,000 | $220,000 or $265,000 or $275,000 or $285,000 | $235,000 or $285,000 or $295,000 or $305,000 | $250,000 or $305,000 or $315,000 or $325,000 |
| Bryan Cave | 77 | No | St. Louis, MO | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Stroock & Stroock & Lavan | 78 | No | New York, NY | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Thacher Proffitt & Wood | 81 | No | New York, NY | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Reed Smith | 82 | No | Pittsburgh, PA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Dorsey & Whitney | 83 | No | Minneapolis, MN | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Katten Muchin | 84 | No | Chicago, IL | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Hughes Hubbard7 | 85 | Yes | New York, NY | $152,500 to $190,000 | $152,500 to $190,000 | $162,500 to $210,000 | $190,000 to $250,000 | $210,000 to $270,000 | $220,000 to $280,000 | $320,000 to $290,000 | $240,000 to $300,000 |
| McGuireWoods | 86 | No | Richmond, VA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Squire Sanders | 87 | No | Cleveland, OH | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Arent Fox | 88 | No | Washington, DC | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Baker & Hostetler | 90 | No | Cleveland, OH | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Thelen Reid | 91 | No | New York, NY | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Mintz Levin | 92 | No | Boston, MA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Kilpatrick Stockton | 93 | No | Atlanta, GA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Dickstein Shapiro | 95 | No | Washington, DC | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Venable | 96 | No | Washington, DC | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Kramer Levin | 97 | No | New York, NY | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Kelley Drye | 98 | No | New York, NY | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Seyfarth Shaw | 100 | No | Chicago, IL | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Blank Rome | Unranked | No | Philadelphia, PA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Brown Rudnick | Unranked | No | New York, NY | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| McKee Nelson | Unranked | No | Washington, DC | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Quinn Emanuel | Unranked | No | Palo Alto, CA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Sheppard Mullin | Unranked | No | Los Angeles, CA | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
| Troutman Sanders | Unranked | No | New York, NY | TBA | TBA | TBA | TBA | TBA | TBA | TBA | TBA |
NOTES
| 1 |
Sidley Austin only gave market bonuses to New York associates who billed more than 2000 hours. Associates who billed between 1850 and 2000 hours received lesser bonuses than those listed here. |
| 2 |
Unlike other firms that gave out pro-rated bonuses to the Class of 2006, Fried Frank paid a $10,000 non-prorated bonus to the Class of 2006. Since all Fried Frank stub year associates started on September 14, this $10,000 bonus would be roughly equivalent to a $33,500 pro-rated bonus. |
| 3 |
Dewey has a 1900 billable hour requirement for all bonuses. Class of 2006 bonus was a $5,000 non-prorated bonus, and that has been annualized for consistency. |
| 4 |
LeBoeuf also paid discretionary bonuses of up to $15,000 for high performers in addition to the lockstep bonuses listed here. |
| 5 |
Schulte paid different bonuses based on billable hours. Those with less than 2000 billable hours received a $10,000 bonus, while those with 2000-2299 billable hours received market bonuses. Associates with 2300-2499 billable hours got market bonus plus $10,000, and associates who exceeded 2500 billable hours received market bonus plus $20,000. |
| 6 |
Latham pays a minimum bonus to those who meet the 1900 billable hour requirement, but also pays higher bonuses to those who exceed the minimum. Note that this minimum bonus is less useful for senior associate classes, since it appears that everyone or almost everyone at these levels received a bonus that exceeded this minimum. |
| 7 | Hughes Hubbard has a tiered bonus structure. For the classes of 2006, 2005, and 2004, the Tier I bonus is up to $7,500, the Tier II bonus is up to $15,000, the Tier III bonus is up to $30,000, and the Tier IV bonus is up to $45,000. For the class of 2003 and above, the Tier I bonus is up to $20,000, the Tier II bonus is up to $40,000, the Tier III bonus is up to $60,000, and the Tier IV bonus is up to $80,000. |
| 8 | Unlike other firms, whose fiscal years start on January 1, Paul Hastings has a fiscal year that begins on February 1, which results in a lower base salary than at other law firms. For instance, a Paul Weiss second year associate earns $13,164 a month every month, for a total salary of $155,000. However, a Paul Hastings third year associate will earn $13,164 a month from February 1 to December 31, but only earn $12,307 in January, resulting in a base salary of only $154,143. This compensation differential continues in each successive year, causing Paul Hastings to pay slightly below market salary every year even though it appears to pay the same as other law firms. |
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