Monday, September 9, 2013

First-Year-Associate Pay Is Flat But N.J. Firms Stay Competitive

First-Year-Associate Pay Is Flat But N.J. Firms Stay Competitive: by David Gialanella - New Jersey Law Journal'
The compensation gap between New Jersey firms and national firms with New Jersey offices is not as wide as it once was, but first-year-pay growth is still depressed across the board, a New Jersey Law Journal survey shows.
Of the 25 firms with the highest starting salaries for New Jersey lawyers, 14 are based in the state, competing with 11 branch offices of huge out-of-state firms.
And their salary levels range only $5,000 to $20,000 less than the national or regional Goliaths.
Gibbons in Newark, Lowenstein Sandler in Roseland and Lerner, David, Littenberg, Krumholz & Mentlik in Westfield each offer a $140,000 starting salary. Newark’s McCarter & English pays new associates $135,000.
That makes them competitive with the out-of-state-based firms offering their N.J. associates the highest salaries: Patton Boggs, of Washington, D.C. ($160,000); Morgan, Lewis & Bockius, of Philadelphia ($150,000); and Proskauer Rose, of New York ($145,000).  Patton Boggs and Proskauer have offices in Newark, while Morgan Lewis’ is in Princeton. 

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