Biglaw, Money, Skaddenfreude

Skaddenfreude: The Shearman Memo

100 dollar bill Above the Law Above the Law law firm salary legal blog legal tabloid Above the Law.JPGWe’re having major computer troubles once again. Please bear with us.
If we could post normally, we’d have already written about LeGal bitchslapping John Scheich, the juicy Wall Street Journal article on Sullivan & Cromwell’s troubles (aside from Charney v. Sullivan & Cromwell), and the latest round of associate pay raise announcements.
One of them is Shearman. Hopefully this post will go through (and just once, not twice). Here’s the memo:
From: Rohan S Weerasinghe
Sent by: Halle Schargel
To: [Classes of 2006 through 1994]
Cc: Worldwide – Partners Only
Date: 01/24/2007 11:29 AM
Subject: U.S. Track Associate Salary Increases
2007 Salaries
I am pleased to announce that in addition to the bonuses announced on December 14, 2006, we are increasing salaries for U.S. Track Associates to the following levels:
Class of 2006 – $160,000
Class of 2005 – $170,000
Class of 2004 – $185,000
Class of 2003 – $210,000
Class of 2002 – $230,000
Class of 2001 – $250,000
Class of 2000 – $265,000
Class of 1999 – $280,000
Class of 1998
and above – $290,000
These increases will be retroactive to January 1, 2007 and will be reflected in your February 15, 2007 paycheck. The increases will be paid to those Associates who are in good standing and with the Firm as of February 15. Increases for those Associates who were on a leave of absence, worked part-time or joined the Firm after January 1, 2007 will be prorated.
On behalf of all of my Partners, I want to thank each of you for your contributions, dedication and hard work and, together with your help, I look forward to another strong year.
Earlier: Previous announcements of law firm associate salary increases (scroll down through “Skaddenfreude” archives)

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