On June 2, Milbank made headlines by announcing a significant raise in associate salaries, setting the stage for a potential domino effect across Biglaw firms. However, as we edge closer to August, the legal industry finds itself caught in a peculiar standstill, with many firms frozen in anticipation of a move from Cravath, a traditionally influential player in setting salary standards.

This enduring silence from Cravath is not just unusual—it's nearly unprecedented. The legal community, including associates, recruiters, and firm leaders, has been bracing for the inevitable announcement of salary increases. The consensus is clear: raises are not a matter of if, but when. The real question is, why the hesitation?

Historically, Cravath has been the benchmark, signaling to other firms when it's time to adjust salaries. This tradition, though longstanding, has been exposed this year as more ritualistic than practical. Milbank has already set the new standard, and several boutique firms have independently pushed forward with raises, proving that the market can indeed pivot without Cravath's lead.

Two months have passed since Milbank's announcement—a lengthy period in a fast-paced industry. With summer programs concluding and the recruiting season looming, firms have had ample time to evaluate and act. Yet, the collective inertia persists, making the silence increasingly conspicuous.

The implications of this delay are significant, leaving thousands of associates in limbo and potentially affecting firm reputations and their ability to attract top talent. In an industry where timing and decisiveness are valued, the reluctance to move without Cravath's cue is becoming a liability.

It's time for Biglaw to reassess this outdated dependency on Cravath. The market dynamics have shifted, and firms must demonstrate their adaptability and independence. The focus should no longer be on when Cravath will act, but on how each firm can proactively address its compensation strategies to remain competitive and fair.

As the legal landscape evolves, so too should its traditions. Biglaw firms are urged to take the initiative, set their courses, and ultimately, free themselves from the constraints of waiting for one firm to dictate the market's pace. The salary increases are inevitable, and delaying the inevitable serves no one. The real surprise should not be when raises are announced, but rather that the industry ever allowed itself to be held hostage by tradition in the first place.