Texas Law Firms Debate Big Raises for Young Associates

© 2018 The Texas Lawbook.By Mark Curriden   (June 12) – Hundreds of young lawyers working at large corporate law firms in Texas are monitoring industry insider blogs and texting their friends at cross-town rivals in hopes of learning if they are all about to get a big pay increase.   They may be waiting a bit longer than they expected.   New York-based Milbank Tweed announced last week that it increased annual compensation for first year associates from $180,000 to $190,000. Eight-year associates – the year before lawyers are up for partnership – are now being paid about $330,000.   Milbank does not have an office in Texas, but a handful of law firms that do – Winston & Strawn, Simpson Thacher and Jones Day – have matched Milbank’s pay plan.   Some legal industry insiders say the jump to $190,000 for newbie lawyers is inevitable for most corporate legal operations in Texas, and history supports that viewpoint.   But other analysts say Texas corporate law firm leaders are more hesitant this year because they received significant pushback from business clients exactly two years ago when the firms increased first year associate pay from $165,000 to $180,000 a year.…