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(Photo: Diego M. Radzinschi/ALM)[/caption] More than a week after Cravath, Swaine & Moore announced a new scale for associate salaries, triggered by Milbank, Tweed, Hadley & McCloy's increases, the list of major New York and national firms matching the raises continues to grow. According to an internal firm memo on Thursday afternoon, Shearman & Sterling told its associates that it was increasing their salaries to the scale set by Cravath, effective next month, with starting salary at $190,000 and eighth-year associate salary at $340,000:

• Class of 2017 - $190,000

• Class of 2016 - $200,000

• Class of 2015 - $220,000

• Class of 2014 - $255,000

• Class of 2013 - $280,000

• Class of 2012 - $305,000

• Class of 2011 - $325,000

• Class of 2010 and above - $340,000

Like other Wall Street firms raising salaries, the firm said it was also giving out summer bonuses. While the memo said individual bonus amounts will be discretionary, based on performance, it gave a range of bonuses that other firms have outlined. The firm said its “U.S. track class year associates in good standing” with the firm through July 31 would be on the following bonus scale:

• Class of 2017 - $5,000

• Class of 2016 - $7,500

• Class of 2015 - $10,000

• Class of 2014 - $15,000

• Class of 2013 - $20,000

• Class of 2012 and above - $25,000

“Thank you all for continuing to deliver excellent service to our clients and for your contributions to the firm,” Shearman senior partner David Beveridge said in the memo. Associate raises in 2018 were first announced by Milbank two weeks ago, and then topped by Cravath last week. A parade of other firms has already announced they are matching, including Cahill, Gordon & Reindel; Cleary Gottlieb Steen & Hamilton; Davis Polk & Wardwell; Paul, Weiss, Rifkind, Wharton & Garrison; Skadden, Arps, Slate, Meagher & Flom; Sullivan & Cromwell; Weil, Gotshal & Manges; and Willkie Farr & Gallagher.