Biglaw, Holland & Knight, Money, Sheppard Mullin, Skaddenfreude

Skaddenfreude: Anyone Out There?

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Today has been quiet in terms of associate salary news. Perhaps pay raise developments have been overshadowed by Charney v. Sullivan & Cromwell. Also, since so many places have already announced, it’s only natural for the pace to slow down.
But there have been a few new announcements. Per the Daily Report, Holland & Knight has raised its base salary for entering associates to $130K. And there appears to be a Sheppard Mullin memo out, too.
(If you’re at the firm, please email us to confirm. A blank email from a Sheppard Mullin address will suffice.)
Update: The Sheppard Mullin memo has been confirmed. We now reprint it after the jump.
Our last comment thread about associate compensation matters appeared before lunch. So here’s a fresh one. Have at it!
The latest hike: Holland & Knight to start at $130K [Fulton County Daily Report]


SHEPPARD MULLIN RICHTER & HAMPTON LLP
To All Associates:
As announced in my e-mail of January 27, 2007, the Firm raised first year associate base salaries retroactive to January 1, 2007. Base salaries have now also been raised for second years through Counsel 3, also retroactive to January 1, 2007. The new base salaries by class are as follows:
Class of 2006: $145,000
Class of 2005: $155,000
Class of 2004: $170,000
Class of 2003: $190,000
Class of 2002: $210,000
Counsel 1: $225,000
Counsel 2: $240,000-$250,000
Counsel 3: $250,000
New York:
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
Counsel 1: $250,000
Counsel 2: $265,000-$280,000
Counsel 3: $280,000
We believe these new levels are in line with our competition.
You will be receiving your new compensation and retroactive payment with your next paycheck.
Adjustments for Special Counsel, Senior Attorneys and Contract attorneys will be made on an individual basis.
We are also in the process of reevaluating our bonus program for 2007. Robert Beall will continue to work with the Associates Forum to solicit your input on the current system and to evaluate potential changes to our bonus structure. We intend to complete this process by May, 2007.
On behalf of the Firm, we appreciate all of your contributions and hard work and look forward to another successful year in 2007.
Guy N. Halgren
SHEPPARD MULLIN RICHTER & HAMPTON LLP

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