New York firm Simpson Thacher & Bartlett has raised first-year associate base salaries to $160,000. This increase comes soon after the hike, occuring less than a year ago, which raised first-year salaries from $125,000 to $145,000. Because firms compete for the same group of top law school grads, there is great pressure to match each other in pay for junior associates. Salaries vary more widely when it comes to senior level associates.
Source: www.law.com