Biglaw, Money, Skaddenfreude, Thacher Proffitt & Wood

Skaddenfreude: The Thacher Proffitt & Wood Memo

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It was sent around about ten minutes ago. A source at the firm helpfully provided it to us, along with this exultant cry:

“And they said we weren’t vault top 20! HAH!”

From: Tvetenstrand, Paul D.
Sent: Friday, January 26, 2007 9:58 AM
To: NYC Associates; DC Associates
Cc: Partners
Subject: 2007 Salary Increase
Consistent with our efforts to make certain that you are paid in accordance with the top of the market, we are pleased to inform you that we are increasing annual base salaries for our Associates. The classes of 2006, 2005 and 2004 will receive $15,000 increases. The classes of 2003, 2002, 2001, 2000, 1999 and 1998 will receive $20,000 increases. We are also raising the base salary for the members of the Class of 2007, who will arrive in the fall, by $15,000.
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 work part-time or joined the Firm after January 1, 2007 will be prorated. Increases for associates more senior than the class of 1998 will be determined on an individual basis.
On behalf of the Firm, I would like to personally thank you for all of your dedication and hard work.
PDT
Earlier: Previous announcements of law firm associate salary increases (scroll down through “Skaddenfreude” archives)

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