Hughes Hubbard is thawing out salaries and junior associates are getting a double bump, placing them where they would have been had there been no salary freeze. Senior associates are splitting the difference, with the class of 2004 and beyond getting bumped up but not quite as far. Of course, this further muddies [...]
Continue reading...Thursday, December 3, 2009
Orrick presented its new compensation plan to its associates today, and there was much rejoicing. Unlike many firms that cut base salaries with discretionary bonuses, Orrick kept the $160k starting salary for first year associates. After that associates will be arranged in three tiers, associates, managing associates and senior associates. The three [...]
Continue reading...Wednesday, December 2, 2009
Two more firms have announced their bonus schedules and they’re a bit different from the Cravath scale. Sullivan & Cromwell is paying bonuses ranging from $7500 to $35,000 depending on class year. The only change is at the high end where senior associates will receive $5000 more than at firms on the Cravath scale. Patton Boggs [...]
Continue reading...Friday, November 6, 2009
Cleary Gottlieb Gottlieb has confirmed their bonus schedule for this year, which falls right in line with Cravath. Cravath was the first major law firm to announce its year end bonuses. The bar was set so low by Cravath that it’s no great feat for other firms to meet it. Gottlieb Like Cravath, bonuses [...]
Continue reading...Friday, July 10, 2009
Hogan & Hartson has let go 30 senior associates this week, as part of the normal performance evaluation process. Before the layoffs the firm employed 140 senior associates, defined as sixth-years or later. Those let go are said to have met basic performance standards, but were not progressing towards partnership. Those affected have four months to find [...]
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 [...]
Continue reading...Thursday, May 14, 2009
Australia’s Minter Ellison has laid off 11 lawyers and 24 support staff from its Adelaide, Sydney, Melbourne and Brisbane offices. The redundancies targeted senior and junior associates in the firm’s property, construction and finance practices. There are no current plans for further redundancies. Minter Ellison is one of the largest full-service law firms in the Asia-Pacific region. It [...]
Continue reading...Thursday, May 14, 2009
A JDJournal tipster informs us that layoffs are underway at Hogan & Hartson. The layoffs include senior associates who were not up for promotions. The tipster tells us “this was never an ‘up or out’ track until now.” We don’t yet know any numbers, or which practices are being affected. In April the firm let go 93 support [...]
Continue reading...Thursday, April 23, 2009
A tipster told us in January that New York City’s Duval & Stachenfeld was laying off an undisclosed number of first and second year associates. Now a JDJournal tipster has more to sat about stealth layoffs at the firm. Edited for clarity: In addition to its previously reported layoffs of junior associates, D&S has also recently laid off [...]
Continue reading...Thursday, January 15, 2009
New York’s Hahn & Hessen LLP has announced that Daniel M. Ford and Edward L. Schnitzer have been made partners in the firm. Both men were formerly senior associates. Ford represents financial institutions and borrowers in structuring, negotiating and closing a wide variety of domestic and cross-border financing transactions. He came to the firm from White [...]
Continue reading...
Sponsored by |
Monday, January 25, 2010
2 Comments