Biglaw, Money, Skaddenfreude

Skaddenfreude: The Greenberg Memo

100 dollar bill Above the Law Above the Law law firm salary legal blog legal tabloid Above the Law.JPGWe believe the Greenberg Traurig memo was posted, multiple times, in the comments. But just to make it official, here’s the (verified) memorandum:

To our New York associates:

We are pleased to announce that our New York office will be increasing associate compensation retroactive to January 1, 2007.

The new standard salary range will start at $160,000 for the class of 2006 (and for new associates arriving with the 2007 incoming class) and increase for each subsequent class through the class of 1999 and beyond. Each associate will be advised of her or his salary by the end of this week.

As you know, at Greenberg Traurig, the timing and opportunity for making shareholder and having a long term home, as well as our unique cultural environment, are more favorable to our associates than is the case at other large New York firms. While these facts are themselves of high value for forward-thinking individuals, we also desire to fairly compensate all of our people along the way based on all conditions.

We have always been committed to providing our associates a unique opportunity to be a real part of an organization based on change, and which will be at the forefront of our profession as we move into a bright future together. At the same time, we believe in a strong, merit-based compensation system at all levels of our firm, and we believe that total compensation, including year-end bonuses which will be determined at the end of 2007, should reflect your contributions. Providing for increased base salaries at this time allows our associates to feel highly rewarded while still retaining these important features of our culture.

Thanks, let’s have a great year together!!

Yes, let’s!!!
(We also have a weakness for multiple exclamation points.)
Earlier: Previous announcements of law firm associate salary increases (scroll down through “Skaddenfreude” archives)

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