Simpson Thacher & Bartlett has told its associates that it will raise their salaries to match the scale set by Milbank Tweed Hadley & McCloy this week, while also giving them a summer bonus, according to an internal firm memo obtained from a source.

While a trickle of other large law firms have begun to match Milbank’s scale, including Proskauer Rose and Winston & Strawn, Simpson Thacher is the most profitable law firm to make the market move so far.