New York City law firm Milbank LLP made headlines earlier this month when it announced that junior lawyers will make more than $200,000 in their first year of work. The decision marks the latest pay increase among elite law firms and is part of a broader trend in rising compensation for entry-level employees at top white-collar jobs.
Investment banks, management consultancies and other selective companies are increasing pay for recent college graduates in an attempt to win over talent and retain young employees despite growing concerns over the demanding nature of corporate work culture, according to employment experts.
