Biglaw, Money, Skaddenfreude

Skaddenfreude: The Dechert Memo

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Here’s an open thread for discussion of associate pay raise developments in general. The last Skaddenfreude thread we created, which you can access by clicking here, can now be devoted entirely to clerkship bonuses.
We can verify the accuracy of the Dechert base salary news. A squished version of the Dechert memo appears after the jump.

In case you can’t read the screengrab, here’s the text of the memo:
We are pleased to announce the following increases in annual base salaries for associates in our Philadelphia office.
Philadelphia
Class Year 2007 Salary
1st Year $145,000
2nd Year $152,500
3rd Year $160,000
4th Year $170,000
5th Year $180,000
6th Year $190,000
7th Year $200,000
8th Year $210,000
These salaries will be retroactive to January 1, 2007 for all associates who are with the Firm on March 1, 2007. The payroll checks on that date will reflect these increases and will include the additional salary earned, but not paid, since the beginning of the year.
The Firm greatly appreciates your commitment and hard work. Our great success this past year — both in Dechert’s growth and in the top-notch representation we provided to our clients — is due in large part to the talent and dedication of our associates.

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