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That’s pretty normal
Yeah I don’t see this as a reason to leave (unless you were already looking for a reason and just want the extra validation. In that case, yes! Agreed!)
Pay compression is already common and is getting more common. It’s my general understanding, through reading and my network, that very few firms are totally lock step for associate ranks (this appears to be true irrespective of whether the firm pays market). Agree with A1 that if you’re already looking for a reason to leave, sure. Otherwise, it’s normal
Rising Star
How much did your rate increase by?
Our firm did this too. It’s just the nature of the beast and not, in and of itself, a reason to leave.
Let me tell you the story about when I was counsel and the market raised comp across the board in the summer to such level that I was paid less than a senior associate for 6 months until I got a bump in the new year. And, yes, years 1-3 or 4 or so get the biggest bumps then in compresses dramatically. It’s been that was for decades, at least.
Your instinct is telling you to leave,so be it - leave