Will Associate Salary Bump Widen the Gulf Between Have and Have-Nots?

One might not think that there is any downside to a pay bump. But for law students and recent graduates, a raise from $160,000 to $180,000 for first-year associates has become a source for concern over whether the hikes will create a new tier of elite law firms where entry positions are harder to secure.

Cravath, Swaine & Moore announced last Monday that it would raise starting salaries by $20,000, from $160,000 to $180,000, and also increase salaries for junior and senior associates. Since then, at least 38 other law firms have announced that they would match , including Weil, Gotshal & Manges, ...