Lowenstein Sandler is the first New Jersey firm to raise first-year salaries to $140,000. The 250-lawyer firm also reported that its New York associates’ pay might be even higher. The second highest-paying NJ firm is Flaster Greenberg, with a starting salary of $130,000. Lowenstein’s raise may put pressure on other NJ firms that have remained at the $125,000 level like Sills Cummis Epstein & Gross, Gibbons and McCarter & English. Raymond Thek, the chair of the recruiting committee at Lowenstein, expressed that the raise was the firm’s way of remaining the market leader and being able to recruit the best new associates possible.
Source: www.law.com