Tag Archive | "new compensation system"

Holland & Knight Cuts Compensation

Wednesday, July 29, 2009

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Holland & Knight Cuts Compensation

Florida’s Holland & Knight is cutting salaries for associates and senior counsel. The firm says the cuts average 7% across all those effected; 10% for associates. This salary reductions are effective immediately. Holland & Knight is reviewing its associate compensation scheme, and intends to implement changes next year. Holland & Knight cut 70 lawyers and 173 support staff [...]

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Akin Gump to Lawyers: Bonuses If You’re Good, Penalties If You’re Naughty

Saturday, April 4, 2009

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Akin Gump to Lawyers: Bonuses If You’re Good, Penalties If You’re Naughty

Dallas’ Akin Gump is altering its salary plan to reward lawyers who are on track to bill 2,000 hours by the end of the year. Those lawyers receive a supplemental payment. Those who do not will not be penalized. The firm made the announcement via e-mail Friday evening. In early March, the firm laid off 47 associates and [...]

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Update: Hogan & Hartson Reduces Pay for Certain First-Year Associates

Friday, April 3, 2009

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Update: Hogan & Hartson Reduces Pay for Certain First-Year Associates

Yesterday Hogan & Hartson laid off 93 US support staff. Today we learn more about changes in compensation for associates who joined the firm in Fall 2008. Hogan offers two compensation tracks for its associates; those who bill 1,950 hours per year plan earn at least $160,000, while those on the 1,800-hours plan earn at least $145,000. Starting [...]

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Patton Boggs Adopts New Compensation System

Monday, February 23, 2009

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Patton Boggs Adopts New Compensation System

Washington, DC-based Patton Boggs is adopting a new compensation plan for partners, retooling a long-held “eat-what-you-kill” system to reward partner cooperation and business development. Under the new structure, which will begin next year, partners will have a percentage of their pay set by an 11-member compensation committee. The committee will examine how well partners refer business [...]

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