Simpson Thacher has announced that it will raise its first-year associate salaries to $160,00, and is reputedly the first firm to do so. The firm has also announced that its top fees are $1000 an hour, and while other firms charge as much, this is the first time a firm has published rates this high. Partners Barry Ostrager, Richard Beattie and Kevin Arquit are said to be among those billing at this rate.
Source: nylwayer.com