Denver firms are feeling pressure to raise starting salaries as national firms with Denver offices apply firmwide raises. Cooley Godward Kronish, Gibson Dunn & Crutcher, Morrison & Foer ster and Hogan & Hartson are four such firms that have raised first-year pay to $160,000 in all U.S. offices. In comparison, the largest local firms such as Holme Roberts & Owen and Brownstein Hyatt Farber Schreck pay between $105,000 and $110,000; out-of-state firms pay around $120,000. In thousands of dollars in debt, many recent grads seek out high-paying jobs to pay off their loans; local firms know this, hence the pressure to bump up salaries and remain competitive. However, local Denver firms have certain perks such as fewer billable hours requirements and a faster track to partnership, that for some outweigh the astronomical salaries at national firms.
Source: www.denverpost.com