Simpson Thacher & Bartlett is used to leading the pack when it comes to salary rises. Now it’s doing the same with charge-out rates: the two are not unconnected.
The firm has demonstrated a rather elevated view of its partners’ abilities by hiking their charge-out rate to $1,000 (£503) an hour (see story).
While this increase may seem like loose change to rich corporate clients with money to burn, it does beg the question: “What’s the extra cash for?”
The extra dollars are, of course, needed after the firm bumped up its associate salaries by 10 per cent to $160,000 (£80,420) in January this year.
Nice work if you can get it.