King & Spaulding has revealed its new 2010 pay scale and bonuses according to law.com and the Fulton County Daily Report. Associate pay ranges from $135,000 for a first year to $190,000 for an eighth year in the new pay scale. Each associate class is receiving $10,000 less than the old pay scale of 2008. [...]
Continue reading...Friday, February 26, 2010
Seyfarth Shaw has released more details about its move to a merit-based associate compensation plan. This plan will be phased in over several months in 2010 and place associates in three different tiers or “bands”. The tiers are the rough equivalent to junior, mid level and senior associate positions at big firms. Instead of seniority [...]
Continue reading...Tuesday, February 23, 2010
Good morning everyone! Today is Tuesday, February 23, and here’s a look back at yesterday’s stories… Steve Epstein joined Fried, Frank, Harris, Shriver & Jacobson as a partner… Albert P. Halluin, Senior Counsel at Wilson Sonsini Goodrich & Rosati, passed away in a plane crash last Friday… Kirkland & Ellis reported increases in profits and revenues in 2009… Mayer [...]
Continue reading...Friday, February 19, 2010
Morrison & Foerster will return first year salaries to $160,000 after lowering them late last year. The firm lowered starting salaries to $145,000 beginning last October outside of New York and Asia. In a memo to associates on Tuesday Chairman Keith Wetmore said, “Although a great deal of uncertainty continues regarding how the economy will [...]
Continue reading...Friday, February 5, 2010
Good morning everyone! Today is Friday, February 5, and here’s a quick look back at yesterday’s headlines. Tycko & Zavareei filed a class action suit against Fifth Third Bank… Pillsbury gave raises (sort of) and bonuses… Gardere Wynne added four attorneys to their roster… Morrison & Foerster hired Joe Calve as their Chief Marketing Officer… Danna McKitrick attorney Ruth Binger [...]
Continue reading...Wednesday, December 23, 2009
Making partner at a big New York firm has been a possibility for only the shining stars of the legal profession. In this recession, however, the chances of becoming partner have quickly gone from bad to worse. At many prominent firms, the number of new partners has significantly dropped: four at Cleary Gottlieb [...]
Continue reading...Thursday, September 3, 2009
In 1933 the Federal Government began paying farmers to not grow crops, in the hopes that reducing the supply would stabilize prices and help spur recovery from the Great Depression. Today, Bryan Cave becomes the third law firm to pay lawyers not to work. Certainly the goals of the Federal Government differ from [...]
Continue reading...Tuesday, August 18, 2009
Nashville, Tennessee’s Bass, Berry & Sims has announced the completion of its first associate litigation training program, culminating in full-scale mock jury trials at Vanderbilt University Law School. The six-month program was designed to provide associates with direct litigation, trial advocacy, and jury persuasion experience. The goal of the training is to prepare associates to become [...]
Continue reading...Saturday, August 8, 2009
A JDJournal tipster informs us that Atlanta’s King & Spalding, which laid off 37 lawyers and 85 staff in March, is “converting a significant number of associates to staff attorneys.” That’s all the information we have at the moment. If you know anything about the situation at King & Spalding, please — send us a confidential [...]
Continue reading...Wednesday, July 1, 2009
San Francisco’s Orrick, which laid off 300 employees in March, is abandoning lock-step compensation for associates. Under a lock-step scheme, associate salaries are determined entirely by how long the associate has been with the firm. Orrick’s new compensation model places associates on the partner track into one of three levels: Associate, Managing Associate, and Senior Associate. Compensation [...]
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Thursday, March 11, 2010
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