First-Year Associate Salary 2026: $235,000, Who Matched and What London Pays

Last updated: 7 November 2026. US pay figures are from firm announcements as reported by Bloomberg Law, the ABA Journal, Above the Law and MLex between June and November 2026, and from Cravath’s careers page as read on 7 November 2026. London figures are from Legal Cheek reports from June to October 2026. Firms can change pay without notice, and calculations marked as ours are our own.

Short answer: The market first-year associate salary at large US firms is $235,000 in 2026, up from $225,000. Milbank set the new scale on 2 June 2026, effective 1 July, running to $455,000 for eighth-years. McDermott, Quinn Emanuel, Norton Rose Fulbright and DLA Piper are among the firms reported to have matched. Cravath still lists $225,000. In London, Magic Circle newly qualified lawyers earn £150,000.

Key takeaways

• The new top-of-market first-year base is $235,000. The $455,000 figure often quoted is the eighth-year rate at the top of the same scale, not first-year pay.
• Matching has been slower than in past raises. Above the Law reported on 5 November 2026 that Cravath had not matched, and its own careers page still shows $225,000 to $420,000.
• Milbank announced special bonuses in July of $6,000 for the class of 2026, rising to $25,000. Year-end bonus season had not properly started by 7 November.
• London newly qualified (NQ) pay ranges from £145,000 at several large UK-rooted firms to £189,000 at Quinn Emanuel, with the Magic Circle at £150,000.

What is the first-year associate salary in 2026?

At firms paying the top of the market, $235,000 a year in base salary. Bloomberg Law reported on 2 June 2026 that Milbank was raising associate pay by $10,000 to $20,000, depending on seniority, with the scale running from $235,000 to $455,000. Above the Law reported that the new scale took effect on 1 July 2026. The previous first-year rate of $225,000 had been in place since late 2023.

This is the pay of a lockstep system: every associate in the same class year gets the same base, whatever the practice group. Our guide to the Cravath scale explains how it works and where the name comes from, and our explainer on what Big Law means covers the firms that pay it.

Not every large firm pays $235,000, and many pay less outside their main markets. Treat the figure as the top of the US market for a first-year in New York and similar offices, not as the average lawyer’s starting pay.

What does the full 2026 associate scale look like?

The table shows the new scale as published by Norton Rose Fulbright when it matched Milbank, reported by Above the Law on 1 July 2026, next to the scale Milbank set in late 2023. Norton Rose’s version applies to associates billing 1,900 hours.

Norton Rose’s table puts the classes of 2025 and 2026 on the same $235,000, so new joiners and last year’s starters are paid alike for now. The previous column is Milbank’s revised 2023 scale, as the ABA Journal reported in December 2023. Cravath’s own 2023 version stopped at $420,000.

Which firms matched Milbank, and when?

Here is what we could verify from firm memos as reported by major legal outlets. “Reported” means the outlet relied on sources, not a published firm memo.

The ABA Journal’s report of 11 June lists the early matches and Susman Godfrey’s $240,000. Above the Law reported on 26 June that most Biglaw firms had held off, and Law360 reported in June that boutiques made up many of the early matches. We could not find reports confirming whether Kirkland & Ellis, Latham & Watkins, Skadden or Davis Polk had matched by 7 November, so we do not list them either way.

Cravath’s How to Apply page still says New York associates are paid on a scale “currently ranging from $225,000 to $420,000”. Above the Law wrote on 5 November that “Cravath has yet to match Milbank’s salary increases or special bonuses.” For context on which firms can afford the new scale, see our summary of the Am Law 100 for 2026.

What do first-years earn in bonuses?

Base salary is only part of the package. Associates on the scale usually get a year-end bonus, and in strong years a special bonus too.

• 2025 year-end bonuses (last full scale). Cravath opened bonus season on 19 November 2025. The class of 2025 received $15,000 plus a $6,000 special bonus, both prorated, the ABA Journal reported. The most senior class received $115,000 plus $25,000.
• 2026 special bonuses. On 27 July 2026 Milbank announced special bonuses for associates and special counsel globally, from $6,000 for the class of 2026 to $25,000 for the class of 2021 and above, payable by 31 August, the ABA Journal reported.
• 2026 year-end bonuses. DLA Piper announced year-end bonuses on 30 October, which Above the Law described as on the 2025 scale. Above the Law said no other firm had matched as of 5 November. Until the market leaders announce, any 2026 figure is a forecast.

Put together, a Milbank first-year from the class of 2026 earns a $235,000 annual base plus the $6,000 special bonus, $241,000 before any year-end bonus (our calculation, and the base is paid only from the start date). Bonuses usually depend on hitting an hours target; see our guide to billable hours targets.

Other pay can matter as much. Cravath lists a clerkship bonus of $125,000 for incoming associates who clerked, or $150,000 for two years of clerking. Summer pay follows the scale too: Cravath pays $4,327 a week, which is $225,000 divided by 52. At $235,000 the same sum gives about $4,519 a week (ours). Our guide to summer associate programs covers what firms publish.

How does London NQ pay compare?

In England and Wales the closest equivalent to a US first-year is a newly qualified (NQ) solicitor, who has finished a two-year training contract or qualifying work experience. London pay splits into clear tiers.

Legal Cheek called Quinn Emanuel’s £189,000 a London record. The gap between the top US payer and the Magic Circle is £39,000 a year (ours). Macfarlanes moved to £150,000 in July, saying the rise brought it in line with the whole Magic Circle.

The split starts before qualification. Legal Cheek reported in October 2026 that Magic Circle firms pay first-year trainees about £56,000, while Kirkland & Ellis, Latham & Watkins, Milbank and Sullivan & Cromwell pay £70,000.

How should you compare offers?

The headline salary is easy to compare. The rest of the offer takes more work. A few points worth checking:

1. Office and market. Ask what the firm pays in the office you will join, not in New York.
2. Hours and bonus rules. Ask whether bonuses depend on an hours target and how pro bono and training count.
3. Class credit. Clerks and lateral joiners can get credit for earlier years, which moves them up the scale.
4. The work. Pay is close to level across scale firms; the practice is not. DealDatabase shows which deals a firm such as Milbank has announced and who worked on them, which helps you test a firm’s claims about its practice.
5. Career path. Our guide to the law firm hierarchy shows what sits beyond the associate years.

Frequently asked questions

What is the first-year associate salary at Big Law firms in 2026?

The top of the market is $235,000, set by Milbank from 1 July 2026 and matched by firms including McDermott, Quinn Emanuel, Norton Rose Fulbright and DLA Piper. Cravath still lists $225,000, and Susman Godfrey pays $240,000. Many firms pay less in smaller markets.

Is the $455,000 figure a first-year salary?

No. $455,000 is the eighth-year base on the 2026 scale Milbank introduced. First-years on the same scale earn $235,000 a year, second-years $245,000 and fifth-years $385,000, before bonuses.

Has Cravath matched the 2026 Milbank raise?

Not as of 7 November 2026. Cravath’s careers page lists New York associate salaries of $225,000 to $420,000, and Above the Law reported on 5 November that Cravath had not matched Milbank’s salaries or its special bonuses.

When are 2026 year-end Big Law bonuses announced?

Usually in November or December. In 2025 Cravath announced on 19 November. In 2026, DLA Piper announced on 30 October at what Above the Law called the 2025 scale, and no other firm had matched by 5 November.

How much do newly qualified solicitors earn in London in 2026?

Magic Circle firms pay NQs £150,000. US firms in London pay more: Legal Cheek lists £180,000 at Davis Polk, Gibson Dunn, Paul Weiss and Willkie, and £189,000 at Quinn Emanuel. Several large UK-rooted firms pay £145,000.

Do first-year associates get bonuses?

Usually yes, but prorated for the months worked. In 2025 the class of 2025 received $15,000 plus a $6,000 special bonus, both prorated. In July 2026 Milbank paid its class of 2026 a $6,000 special bonus.

This article is general career information as of 7 November 2026. It is not legal, financial or career advice. Firm pay and bonus terms change and vary by office, so check the figures with the firm before relying on them.

Featured image: Photo: August de Richelieu via Pexels (cropped)