JD Journal » cuts associate pay

Rumor: Foley & Lardner Cuts Associate Pay 10%

Erik Even — Mon, 20 Jul 2009 16:45:11 +0000

Blawgs are reporting that Foley & Lardner has cut pay 10% for all associates in all offices.

The firm is refusing to confirm or deny the rumor. If you know anything about pay cuts at Foley & Lardner, please — send us a confidential tip!

Foley & Lardner has been hiring new lawyers this year — three and three in May, three and two in June.

Foley & Lardner LLP is an international general practice law firm started in 1842 in Milwaukee, Wisconsin. It employs 1,000 attorneys, and is the 24th largest firm in the United States.

Howard Rice Decimates Associate Salaries

Erik Even — Fri, 10 Jul 2009 17:11:42 +0000

San Francisco, California’s Howard Rice cut all associate salaries by 10% last month.

Incoming associate salaries were cut from $160,000 to $145,000. Fourth-years now make $170,000, and seventh-years make $225,000.

The firm says it is just bringing its salaries into line with competitors like Morrison & Foerster, DLA Piper and O’Melveny & Myers.

Howard Rice froze its billing rates 18 months ago.

Founded in 1954, Howard Rice Nemerovski Canady Falk & Rabkin employs almost 100 lawyers.

Pillsbury Cuts Associate Pay [Update]

Erik Even — Fri, 12 Jun 2009 16:40:45 +0000

Pillsbury, which offered associates $60,000 to leave the firm, is imposing associate salary reductions based on hours.

Salaries are being cut between 10% 5% and 20%, depending on how many hours the associate has worked this year (January through May).

Those who worked the highest number of hours may not see a salary cut.

Pillsbury Winthrop Shaw Pittman LLP is an international law firm with offices located throughout the US and globally, including key financial centers New York, London, Tokyo and Shanghai.

UPDATE

Further details have emerged. Pillsbury’s hours target is 1,950. A 90% utilization rate will get you a 5% pay cut. A 75% rate gets the 20% cut. Some training and pro bono hours will be counted.

The firm is currently considering its compensation program for 2010; the implication is that the curretn cuts will be temporary.