Tuesday, January 23, 2007

Simpson Thacher First Year Associates To Be Paid Like Federal Judges

New York's legal marketplace is hitting a new milestone: Paying fresh-faced, 20-something, first year associates more than federal judges.

Rookie lawyers at Simpson Thacher & Bartlett will be paid a base salary of $160,000 before bonus, according to a New York Law Journal article today. Bonuses for first years start at $30,000/year:

The New York firm's move, announced internally Monday, comes less than a year after an earlier round of salary increases boosted first-year salaries in the city to $145,000 from the $125,000 that had been standard for several years prior.

By contrast, federal judges start at $162,500 (no bonus, sorry), the same as members of Congress.

New York's Supreme Court justices (our trial courts, not the top court) start at $136,700.

If judges can do so well in the private sector, then we need to increase the incentives to keep good ones from leaving the bench. It is time we brought judicial salaries more into line with the marketplace.

Labels: Judiciary, Odds and Ends

posted by Eric Turkewitz  # Permanent Link

The New York Personal Injury Law Blog does not accept advertising banners, pop up ads or other distractions from its content. But since The Turkewitz Law Firm is the sole sponsor, it may be considered a form of attorney advertising in accordance with New York rules going into effect February 1, 2007 (22 NYCRR 1200.1, et. seq.)

Throughout the blog as it develops, you may see examples of cases we have handled, or cases from others, that are used for illustrative purposes. Since all cases are different, and legal authority may change from year to year, it is important to remember that prior results in any particular case do not guarantee or predict similar outcomes with respect to any future matter, including yours, in which any lawyer or law firm may be retained.

Some of the commentary may be become outdated. Some might be a minority opinion, or simply wrong. No reader should consider this site (or any other) to be authoritative, and if a legal issue is presented, the reader should contact an attorney of his or her own choosing for advice.

Finally, we are not responsible for the comments of others that may be added to this site.