Ed. note: Welcome to our daily feature, Quote of the Day.
Seeing that growth in compensation in such a large amount, on average, shows supply and demand forces in the market. Associates are highly sought after especially in the upper end of the market.
There have been some really key events that have fueled that fire, more than we have traditionally seen, but time will tell on the sustainability of it. It’s driven by firms pushing to remain competitive in the market.
— Nathan Peart, executive director of Major, Lindsey & Africa’s associate practice group, in comments given to the American Lawyer, on the steep rise in associate compensation over the course of the last few years, as noted in the recruiting agency’s latest report. In New York City in particular, which is described as a “hotbed for associate compensation and bonuses,” average total associate compensation has grown by nearly $100,000 in the last five years.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
