Salary Freeze at Covington & Burling

Stick this one in the “It could be worse…” file.

At an all associates meeting today, Covington & Burling announced a freeze on associate salaries for all offices other than New York. Although Covington’s associates are probably not thrilled with the news, things could be worse. If Covington can reign in costs without having to lower salaries or cut jobs, it puts them a step ahead of most firms.

Back in April, Covington & Burling’s Diversity Update included a statement that they had not frozen salaries. It took longer than a month, but now we can finally link back to it.

• Haynes & Boone Cut First Year Salaries
• Skadden Bonuses Match Cravath and Cleary
• Reed Smith Asks Non Equity Partners for a Tithing
• Cleary Gottlieb Follows Cravath on Bonuses
• We’re Doing This for Your Own Good… Really!

Posted by joshua on November 10, 2009. Filed under Home,Law Firm News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry