Freshfields Bruckhaus Deringer is the first top U.K. law firm to announce associate salary rates for 2010, with the firm lifting the freeze on associate lockstep put in place last year. The firm told staff yesterday that the freeze would be lifted at the start of the new financial year. Beginning in May associates will [...]
Continue reading...Friday, February 12, 2010
After issuing another round of paychecks at 2008 salary levels, Sidley Austin today announced its 2010 compensation plan. Salaries have been thawed and associates will be getting a double bump in salary, putting them back to where they would have been if they had never been frozen in the first place. Unlike some of the firms [...]
Continue reading...Friday, February 12, 2010
Winston & Strawn froze salaries last year and now it appears that the freeze is still on. Associates received emails today regarding their compensation and across the board, they are still the same as they were two years ago. Third year associates are still making $160k. This might seem like a way to increase business at [...]
Continue reading...Thursday, February 4, 2010
Let’s start with the easy part. Associates in the New York office of Pillsbury are having their salaries restored to the level they would have been at had they never been frozen in the first place, so long as they met their billable hour target of 1,755 hours. Associates that missed their target [...]
Continue reading...Tuesday, February 2, 2010
The salary marketis starting to crystallize now. Mayer Brown today joined other top tier firms in restoring associate salaries back to pre-recession levels. That means everyone is being bumped up two levels, putting all Mayer Brown associates where they would have been had salaries never been frozen in the first place. There [...]
Continue reading...Friday, January 29, 2010
Goodwin Procter’s gross revenues fell 4% in 2009 to $658 million and per partner profits dropped 3% to $1.27 million. Although discouraging, in a year marked by layoffs, deferrals and salary cuts it could have been much worse. The good news is that the firm is not taking it out on its associates, [...]
Continue reading...Friday, January 29, 2010
2009 was a bad year for the economy and the legal sector took its share of licks, but there are success stories as well. Hughes Hubbard & Reed had a 10% increase in gross revenues in 2009, from $251.8 million to $277 million. Profits per partner jumped by 9.7%, from $1.34 to $1.47 [...]
Continue reading...Friday, January 29, 2010
Vinson & Elkins associates are having their salaries thawed out and returned to where they would have been without the salary freeze. This puts V&E at the top of the muddled salary market. UPDATE: We’ve received tips saying that only New York associates are getting the salary boost. If you have any hard information [...]
Continue reading...Tuesday, January 26, 2010
Good morning! Today is Tuesday, January 26, and here’s your morning roundup… A Pepper Hamilton Partner is the lead investor in a deal to purchase the Texas Rangers… Wilmer Hale’s numbers are out and per partner profits are up seven percent (guess they don’t mind that story leaking to blawgs) … Wilson Sonsini is thawing salaries and [...]
Continue reading...Monday, January 25, 2010
Hughes Hubbard is thawing out salaries and junior associates are getting a double bump, placing them where they would have been had there been no salary freeze. Senior associates are splitting the difference, with the class of 2004 and beyond getting bumped up but not quite as far. Of course, this further muddies [...]
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Friday, February 26, 2010
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