Good morning everybody! Today is Friday, August 27th. Here’s a quick look back at yesterday’s stories. Many associates at Orrick, Herrington & Sutcliffe received pay raises… Sidley Austin added to its…
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…
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…
Cooley Godward has lifted last year’s salary freeze, sort of. First years will continue to make $160k, which puts them ahead of firms that have cut first year salaries, second…
Goodwin Procter is paying 2009 bonuses to its associates who hit their billable hour goal of 1850 hours, maybe. Bonuses will more or less match the Cravath bonus scale, maybe.…
The lockstep march away from lockstep compensation continues unabated as 2010 gets into full swing. The latest firm to join the thundering herd is Dickstein Shapiro, which will initiate a…
Kaye Scholer is cutting first year associate salaries to $145k, but unlike many other firms they aren’t doing it under the guise of abandoning lockstep compensation. Additionally, any associate that…
I think it’s time for some new terminology. Lockstep compensation referred in the past to associates moving up in pay scale in “lockstep” with their contemporaries. All associates from the…
In a firm wide email sent out yesterday, Kelley Drye managed to fold what would typically be three different stories into one. Over the next two years, Kelley Drye will…
Like many firms before it, Seyfarth Shaw is abandoning lockstep starting in 2011. Details haven’t been released, not even to the associates who must now spend next year trying to…
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