Skaddenfreude: The Greenberg Memo
We 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)
(15) Comments
Comments
Is that true about Greenberg's partnership prospects?
Greenberg to its non-NY associates: screw you
The PR machine at it again...and what's with this bullshit about "our unique cultural environment, are more favorable to our associates than is the case at other large New York firms." (This is code for, "We're going to screw the mid-levels and we're going to screw you on bonuses.")
GT NYC is a horrible place to work. I can confirm that a mid-level lateral from Weil (and a Columbia grad) was fired because she got sick. A partner (Barbara Meili--New York Law School grad) accused her of hiding a "disability" (untrue) and communicated that to HR. HR wanted a doctor's note verifying the "disability". When the associate explained that she didn't have a "disability" and that she as merely sick for a week or two with the mono, HR communicated that back to the partner, whom subsequently went ballistic and fired her practically on the spot (with the firm's COO present (and participating in this injustice) while the associate was wrongfully dismissed). When the associate returned to her office, she was locked out of her computer, the firm's intranet and email. What kind of a firm fires you for having to miss a couple of days for being sick??? (I have a weakness for multiple question marks.)
GT has climbed in Am Law rankings through its PR machine. Reporters/periodicals love GT because they have a PR machine that provides newspapers with press release that the journalists can quickly turn into articles with minimal effort. They also lobby the journalists and are spend a lot of time cultivating relationships with the "journalists" and periodicals. In addition the PR machine makes the firm's management team very accessible. The GT PR machine rivals that of the Bush presidency (and the Republiccans) right after the 9/11. Got to give credit to the GT PR machine--they are that good.
As for the firm and it's culture, it's 3rd rate at best. Law students and lateral beware. Don't be fooled by the "double speak".
"Is that true about Greenberg's partnership prospects?"
No, and many of their junior "partners" get paid less than $300K. You get the TITLE by buying into the partnership but you get the salary of a senior associate (or less than that of a senior associate at some firms).
I can't speak toward the partnership issues, I can speak toward the culture issues. GT emphasizes it non-stop at all time, at all levels of the organization. It's not hype, they are serious about it. I understand most NY BigLaw associates refuse to believe you can work at a Big firm that pays top dollar without hating yourself, your life, everyone you know, and everything you do, but it is possible. Horror stories notwithstanding. I have no knowledge of the otherwise valuable Mid Level Associate who was fired solely for missing three days of work, but I know it makes no sense, no matter what you to wantthink of GT. Would a law firm fire an otherwise good employee solely for being sick?
Not likely.
Frankly I think all the GT bashing is really just the NY BigLaw PR machine acting like the Bush we all know -- namely scared to death that a "lesser" firm is beating their ass, and doing everything they can to scare people out of beliving things don't have to be the way they've always been. To the GT bashers, Me thinks ye doth protest too much.
"To the GT bashers, Me thinks ye doth protest too much." ...says the GT PR machine.
"Would a law firm fire an otherwise good employee solely for being sick?"
...that's what's frightening. GT let's its rainmakers do whatever they want...some with crazy personalities.
"Frankly I think all the GT bashing is really just the NY BigLaw PR machine acting like the Bush we all know -- namely scared to death that a "lesser" firm is beating their ass"
...like the Bush White House, the GT PR machine attacks the messenger.
Final word on this as far as I'm concerned: none of the GT bashing I've read has convinced me I'm not genuinely happy at GT, and making just as much money. It has, however, convinced me that there are a lot of people out there who are UNHAPPY with their firm. Glad I'm not one of them.
If the reader cannot possibly believe that's true, and must reconcile it by reasssuring themselves it is a PR machine -- that's something for the reader to worry about, not me.
"If the reader cannot possibly believe that's true, and must reconcile it by reasssuring themselves it is a PR machine -- that's something for the reader to worry about, not me."
...I think I touched a nerve.
Why hasn't anyone commented on the atrocious writing in the memo?
"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."
Wow, whoever wrote that should shot.
Perhaps it's me that should [be] shot.
Ha, I'm glad you caught that. Everyone makes mistakes. Frankly, if I received a memo telling me I just got a $25k raise, I wouldn't spend my time criticizing the grammar.
Point well taken. However, my firm hasn't announced yet so I guess my comments were motivated by bitterness more than anything else.
I still maintain that the writing, if not gramatically incorrect, is terrible.
"Final word on this as far as I'm concerned: none of the GT bashing I've read has convinced me I'm not genuinely happy at GT, and making just as much money."
Memo to Richard Rosenbaum: It's mid-June, and I'm still waiting for the raise...
cool