Dechert is paying year end bonuses that should, by now, look familiar to those following the industry. Like many of its contemporaries, the firm is matching the Cravath bonus scale, although it says that a few exceptional individual will receive bonuses up to $25k larger than the standard grid. In addition, it will continue to advance its associates forward in terms of base salary.
Most associates, that is. In Charlotte and Hartford, Dechert has decided to return to 2007 compensation levels for the 18 associates in those offices. This is more than a salary freeze, it’s an out and out pay cut.
Dechert is an international law firm based in Philadelphia with 18 offices and over 1000 attorneys.