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.



 

RELEVANT JOBS

Litigation Attorney

USA-CA-Los Angeles

You are ready for the career opportunity you have been waiting (too long) for. The drive, organizat...

Apply now

Family Law Associate Attorney

USA-MA-Medfield

Mulhall Withrow, PLLC is an estate planning and family law practice in Medfield, Massachusetts with ...

Apply now

Litigation Attorney

USA-NJ-Toms River

Seeking an experienced litigation attorney! We are continually hiring due to the success and grow...

Apply now

Estate Planning Attorney

USA-NJ-Toms River

Seeking an experienced attorney for estate planning and elder law! We are continually hiring due ...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Education Law Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with ...

Apply Now

Education Law Attorney

USA-CA-Carlsbad

Carlsbad office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with 4-...

Apply Now

Education Law and Public Entity Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law and public ent...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top