Massumi Consoli: Milbank Salary Match for Associates Effective 2026

• Massumi + Consoli LLP, a Los Angeles-based firm specializing in private equity and M&A, announced new associate salary raises.
• The firm's new compensation grid matches the Milbank salary scale for all associates.
• These raises are scheduled to take effect on September 1, 2026.
• Boutique firms are increasingly matching top-tier compensation benchmarks while many larger firms have not yet adjusted their pay scales.

Lawyers should monitor boutique firm compensation trends, particularly in private equity and M&A, as they are setting new salary benchmarks that could impact talent retention and recruitment strategies across the legal market.

A significant shift in associate compensation trends is emerging within the legal industry, with boutique firms increasingly taking the lead in salary adjustments. While many larger, established firms have maintained their current pay structures, a specialized Los Angeles-based firm, Massumi + Consoli LLP, has recently announced a substantial increase in its associate compensation. This move positions the firm's pay scale directly in line with the elevated benchmarks set by Milbank, signaling a proactive approach to talent retention and acquisition in a competitive market.

Massumi + Consoli LLP, known for its focused expertise in private equity and mergers and acquisitions (M&A) transactions, has unveiled a new salary grid for its associates. This updated compensation structure is slated to become effective on September 1, 2026, and will apply uniformly across all associate levels within the firm. The decision by Massumi + Consoli LLP to match the Milbank associate compensation scale underscores a growing willingness among niche legal practices to invest aggressively in their human capital, particularly in high-demand practice areas like private equity M&A law.

The proactive stance taken by firms like Massumi + Consoli LLP stands in stark contrast to the current position of many of the industry's largest and wealthiest law firms, often referred to as 'Biglaw.' These major players have largely refrained from announcing similar compensation increases, creating a noticeable disparity in the market. The Massumi Consoli Milbank salary match highlights a broader trend where smaller, specialized firms are demonstrating a greater agility and readiness to adapt their pay structures to meet evolving market expectations for associate compensation.

This divergence in compensation strategies raises questions about the long-term implications for talent distribution across the legal sector. As boutique law firm associate pay continues to align with or even surpass that offered by some larger counterparts, the pressure on Biglaw to respond becomes more pronounced. The current silence from many top-tier firms regarding potential Biglaw associate raises 2026 is becoming increasingly conspicuous, especially as more boutique firms like Massumi + Consoli LLP publicly commit to higher salary grids.

The decision by Massumi + Consoli LLP to implement a new Massumi + Consoli LLP salary grid, mirroring the Milbank associate compensation scale, carries significant implications for the legal profession. It suggests that specialized firms, particularly those operating in lucrative sectors such as private equity and M&A, are not only capable of but also strategically committed to offering top-tier compensation. This trend could reshape expectations for private equity M&A law firm salaries across the board, influencing how both established and emerging legal talent evaluate their career options.

Lawyers should monitor boutique firm compensation trends, particularly in private equity and M&A, as they are setting new salary benchmarks that could impact talent retention and recruitment strategies across the legal market. The willingness of firms like Massumi + Consoli to lead on compensation could compel other firms, regardless of size, to re-evaluate their own pay scales to remain competitive. This dynamic environment suggests that the landscape of associate compensation is in flux, with boutique firms playing a pivotal role in driving upward pressure on salaries.

Lawyers should monitor boutique firm compensation trends, particularly in private equity and M&A, as they are setting new salary benchmarks that could impact talent retention and recruitment strategies across the legal market.

Source: Original reporting via Above the Law