Taft Law announces across-the-board market adjustments to associate compensation, effective July 1, 2021. All current associates will receive a $10,000 salary increase, with Chicago associates receiving a $15,000 increase, and first-year associate compensation also will increase.
Starting salaries for first-year associates will increase as follows:
- Chicago: From $175,000 to $190,000.
- Cincinnati, Columbus, Dayton, and Indianapolis: From $125,000 to $135,000.
- Cleveland: From $135,000 to $145,000.
- Minneapolis: From $140,000 to $150,000.
“We are in the talent business. The market has become hyper competitive for top talent and this decision is based on understanding current trends and taking a long-term view. Our ability to hire top talent is critical to providing exemplary client service and to achieving all of our quality, cultural – including diversity and inclusion – and financial goals,” said Taft’s Chief Recruiting Officer Lisa Watson.
To be the employer of choice in each of its markets, Taft endeavors to demonstrate a good balance of: (1) a deep commitment to exemplary and responsive client service, (2) maintaining a financially successful enterprise that ensures market competitive compensation and benefits to our entire workforce, (3) fostering an environment that enables our workforce to have the opportunity to maintain a good work/life balance, and (4) maintaining and promoting a fair, inclusive, professional, and empowered workplace culture, while always acting with high integrity and transparency.
“Part of our ‘Play to Win’ strategy is to hire great talent, both on campus and laterally. To do that, we need to do everything well, including providing highly competitive compensation and benefits packages in each of our markets. Given our strong financial performance and growth, this strategy – at the direction of our executive committee – is clearly delivering results for the firm and our clients,” said Taft’s Chairman and Managing Partner Robert J. Hicks.
Taft has grown from approximately 400 attorneys in 2017 to 625 today. Ninety-four percent of lateral partners who joined Taft between 2015 and 2020 are still on the Taft team. Beyond headcount growth, Taft invests in adding new practice areas and geographies. Expanding to the Washington, DC market was announced in February 2021 with the formation of the Taft Public Affairs Strategies Group, comprised of 16 attorneys, lobbyists and other professionals.