Bryan Cave has announced it is cutting associate salaries 10% across the board.
No one’s salary will be reduced below the newly-established entry-level rates: $145,000 in Chicago, Irvine, New York, San Francisco, Santa Monica, and Washington, DC; $130,000 in Atlanta; $115,000 in Phoenix; $110,000 in St. Louis; and $100,000 in Kansas City.
Some staff lawyers will also see salary cuts. The reductions go into effect July 1st (July 13th in Missouri and the UK).
The firm has announced a move from traditional lock-step compensation to a merit-based system. The next associate reviews will be held in January 2010.
In February, Bryan Cave laid off 58 attorneys and 76 staff, and froze salaries.
Posted by Erik Even
on June 11, 2009. Filed under Home,Law Firm News,Legal News.
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