Home

Venable Cuts Compensation for All Lawyers & Staff
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Baltimore’s Venable is cutting salaries across the board, affecting all lawyers and staff, including partners.

Base compensation for our first year associates is being cut from $160,000, formerly the Biglaw standard, to $145,000. The base compensation for all other associates will be reduced by 8%, with a floor of $150,000 and $155,000 for second year and third year associates, respectively.

Base compensation for all of counsel will be reduced by 8%.

  
What
Where


All non-equity partners will see a base compensation reduction of 8%, excepting those that are on track that meet the firm’s 1800-hour billable hour standard.

Senior staff will have a base compensation reduction of 8%. All other non-legal staff will be unaffected.

The profiles for equity partners were set at 5% below last year’s earnings at the beginning of the year. The final compensation decisions for equity partners will be based on 2009 individual and firm performance.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




All compensation adjustments will be effective July 11, 2009.

In March, the firm laid off 64 people and deferred incoming associates.



Venable LLP is a law firm, formerly known as Venable, Baetjer & Howard LLP. It was founded in Baltimore in the post-Civil War period. Today the firm maintains six Northeastern US offices and specializes in patent litigation, labor and employment law and white collar investigations. Venable employs nearly 600 attorneys.



 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Business Litigation Attorney

USA-CA-Santa Monica

Santa Monica office of our client seeks business litigation attorney with 1-3 years of experience. T...

Apply Now

Intellectual Property Litigation / Enforcement Associate Attorney

USA-CA-San Francisco

San Francisco office of our client seeks intellectual property litigation / enforcement associate at...

Apply Now

Corporate Attorney

USA-CA-Menlo Park

Menlo Park office of sophisticated boutique firm is seeking a corporate attorney with experience in ...

Apply Now

School District Associate Attorney

USA-NY-Syracuse

Syracuse office of our client seeks school district associate attorney with 2+ years of experience. ...

Apply Now

RELEVANT JOBS

Search Docket Administrator

USA-IL-Evanston

Cardinal Intellectual Property is seeking an administrator to help perform a variety of tasks within...

Apply now

Associate - Mid-Level - GL Group

USA-NY-Valhalla

Defense firm seeking mid-level associate for Westchester office to fill General Liability position. ...

Apply now

Hotline & Training Managing Attorney (IMMIGRATION)

USA-NY-New York City

The Hotline & Training Services Managing Attorney will guide, develop, and supervise the Hotline sta...

Apply now

Litigation paralegal

USA-TX-Dallas

We are looking to immediately hire a responsible, highly organized, self-motivated litigation parale...

Apply now

SEARCH IN ARCHIVE

To Top