No one’s salary will be reduced below the newly-established entry-level rates: $145,000 in Chicago, Irvine, New York, San Francisco, Santa Monica, and Washington, DC; $130,000 in Atlanta; $115,000 in Phoenix; $110,000 in St. Louis; and $100,000 in Kansas City.
Some staff lawyers will also see salary cuts. The reductions go into effect July 1st (July 13th in Missouri and the UK).
The firm has announced a move from traditional lock-step compensation to a merit-based system. The next associate reviews will be held in January 2010.
In February, Bryan Cave laid off 58 attorneys and 76 staff, and froze salaries.