Foley Lardner Matches Milbank Salary Scale for Associates
The firm updates its compensation structure across all U.S. offices starting February 2027.
1Compensation Structure Update
Foley Lardner has officially announced plans to match the prevailing Milbank salary scale for its associates. This adjustment, which covers all U.S. offices, is set to take effect on February 1, 2027. The move aims to keep the firm competitive within the Biglaw market while associates await further news regarding annual bonuses.
2Financial Performance Context
The decision to increase associate pay follows a strong fiscal period for the firm. Foley Lardner reported gross revenue reaching $1.45 billion in 2025. By aligning its compensation with the Milbank scale, the firm is positioning itself to retain top legal talent amidst a highly competitive landscape for high-performing law firm associates.
3New Billable Hour Requirements
The updated compensation package comes with specific performance expectations for legal staff. Associates are now required to bill 1,950 hours annually, a figure that includes credited pro bono work. Additionally, the firm mandates 150 investment hours. First-year associates face a slightly lower threshold, with a requirement set at 1,900 billable hours per year.
4Scope of Salary Adjustments
While the firm is matching the Milbank scale, the structure has specific limitations regarding seniority levels. The salary increases apply up to the level of first-year senior counsel. Notably, the scale does not extend to the $455,000 salary level typically associated with eighth-year associates under the standard Milbank model currently used by competitors.
5Market Alignment Strategy
Law firms frequently adjust salary scales to remain in line with market leaders like Milbank. These enhancements are designed to boost morale and reduce turnover during the winter months when bonus announcements are typically expected. Foley Lardner’s move reflects a broader industry trend of standardizing pay to attract and keep experienced legal professionals.
6Impact on Associate Retention
For many associates, a higher base salary provides more consistent financial security than performance-based bonuses alone. By increasing the recurring paycheck, Foley Lardner is offering a stable benefit that differentiates its compensation package. This strategic shift is intended to satisfy associates who prioritize predictable earnings over the uncertainty of annual bonus cycles.
7Reporting and Transparency
The legal industry relies heavily on internal tips to track compensation trends across major firms. Above the Law continues to monitor these updates by soliciting memos directly from associates via email or text. This crowdsourced approach ensures that the legal community remains informed about salary changes and bonus structures in real time.
8Future Outlook for Associates
As the February 2027 implementation date approaches, associates at Foley Lardner can expect a significant change in their compensation packages. While the wait for bonus memos continues, this salary adjustment serves as a major milestone. The firm's commitment to market-rate pay underscores the ongoing competition for talent within the top-tier legal sector.
Original article: Above the Law — Foley Lardner Matches Milbank Salary Scale for Associates