Citing client concerns with billing practices, Reed Smith announced a new compensation plan today. The new plan, which the company cleverly named CareeRS, separates associates into three tiers and three…
Squire Sanders has joined the march away from lockstep compensation, and will implement a merit based pay system starting next year. Details are still being worked out. The firm says…
Morgan Lewis has announced a series of steps designed to save cash, including the complete cancellation of its 2010 Summer Associate Program. The firm will do no on-campus interviewing this…
![Sonnenschein to Slash Associate Pay [Update]](http://www.jdjournal.com/wp-content/themes/advanced-newspaper/timthumb.php?src=wp-content%2Fuploads%2F2008%2F12%2Fsonnenschein_160x120.jpg&q=90&w=80&h=66&zc=1 "Sonnenschein to Slash Associate Pay [Update]")
Sonnenschein Nath & Rosenthal plans to cut associate salaries, beginning June 1st. First year salaries, previously a Biglaw standard $160,000, will be reduced to $145,000. Sonnenschein seeks to make associate…
Nixon Peabody, which laid off 20 attorneys and 36 staff in February, is now cutting salaries. All associates, including incoming and summer associates, will see a reduction to $145,000 in…
Many law firms are using the economic meltdown as an excuse to end seniority-based pay for associates, adopting “merit-based” systems similar to those used outside the legal profession. Examples in…
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