In a bold move signaling a new era of compensation strategies among top law firms, Cooley has announced a significant salary increase for its associates, aligning with the market rate established by Milbank earlier this June. Starting January 1, 2027, all associates on the US compensation scale at Cooley will enjoy these new, enhanced pay scales. "We believe our people are our greatest assets, and investing in exceptional talent remains a top priority," stated Rachel Proffitt, Cooley’s CEO, highlighting the firm's commitment to its workforce.

The decision by Cooley to adjust salary scales marks a pivotal shift in the Biglaw community, where traditionally, firms have waited for cues from industry leaders like Cravath before making such significant changes. However, with Milbank setting a new precedent this past summer, Cooley's swift action to follow suit without waiting for further endorsements suggests a growing trend of firms willing to independently elevate their compensation packages to attract and retain top legal talent.

In addition to the salary increase, Cooley is set to award special bonuses for 2026, ranging from $6,000 to $25,000, to eligible associates and special counsel before the year ends or early in 2027. This move is presumably in line with Milbank’s own summer special bonuses, further cementing Cooley’s position as a firm that values and rewards its employees generously.

This series of raises and bonuses comes as welcome news for Cooley associates, reinforcing the firm’s reputation as a leading innovator in employee compensation within the competitive Biglaw landscape. As these developments unfold, Cooley’s commitment to maintaining a top-tier compensation structure is clear, setting a robust example for other firms in the industry.

For those interested in staying updated with the latest in compensation trends and announcements in the legal sector, sources like Above the Law offer comprehensive coverage and timely updates. They rely heavily on community tips to gather insights on which firms are adjusting their salary scales and how these changes are shaping the industry. Engaging with these resources can provide legal professionals and industry observers with valuable information on evolving compensation trends in Biglaw.

As the legal industry continues to evolve, the moves by firms like Cooley could signal the beginning of a new competitive era in associate compensation, potentially leading to broader changes in how firms across the board choose to incentivize and reward their most valuable assets—their people.