Morgan Lewis is following Dechert's lead and bumping first-year salaries to $125k. Apparently they did so even though they laid off 50 associates last year. Probably not the best of moves for per partner profits.

I am sure the question that is weighing heavily on all our minds is, When will Howard's firm jump into the fray? They're currently at $105k, according to NALP (even in NYC!). Perhaps I should be asking if being in Howard's presence is worth $20k a year. Well, it is Howard!