Milbank, Tweed Hadley & McCloy, Kirkland & Ellis and Simpson, Thacher & Bartlett have all confirmed that they will be extending their new bumper $180,000 salaries to their first-year associates in Asia. Announcements from the three firms follow on the heels of announcements from fellow multinationals Paul Weiss Rifkind Wharton & Garrison and Weil Gotshal & Manges, both of which have already confirmed that they would be extending their new US pay scale to their Asia offices.
Investing in talent.
Milbank managing partner David Zemans commented that the decision to extend the new blockbuster salaries (which reach $325,000 per year for senior associates) to the firm’s offices in Seoul, Tokyo, Beijing, Hong Kong and Singapore came naturally: ‘For the 20 years I’ve been with Milbank, Asia associates’ pay has always been on a par with that of the New York office; it’s key to attracting and maintaining the best talent in the market,’ he told Legal Week.
Source: Asian Legal Business
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