Skaddenfreude: Anyone Out There?
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
(55) Comments
Greedy Texas has a post that Baker Botts raised in Texas. Any confirmation, or is this another hoax?
I heard a rumor that Latham went to the $160k scale in Chicago. I don't believe it, but can anyone confirm/deny?
Any word on Kilpatrick Stockton?
A&P NY?
HK is interesting news for Boston middle market firms.
Anyone at Baker Botts confirm a raise in Texas?? Probably just another hoax on the Gredy boards, but who knows......
Anyone at Baker Botts confirm a raise in Texas?? Probably just another hoax on the Greedy boards, but who knows......
Anna Nicole & Smith just raised.
A reliable source told me that Cooley already went up to $145, but I didn't get much details. Anyone have any info?
(Usually the "A reliable source told me..." comments are fake, I know. But this is real!)
Anna Nicole & Smith just died...really...seriously...dead
Latham to 160 in Chicago is complete bs.
"Anna Nicole & Smith just raised."
That is so wrong! (I love it)
Anna Nicole Smith matched in Miami
It wasn't funny the first time.
Any word on A&P, Dickstein and Crowell? You know, those "top firms" that don't want to pay market?
At least Dickstein's chairman has said they will raise to $145 (that law.com article a couple days back).
That same law.com article said that A&P already raised.
A&P matched
What is Jones Day paying in Dallas now?
Can anyone in Texas confirm that Baker Botts has raised salaries?
Um... I think Anna Nicole & Smith just dropped...
5:28 PM: The Anna Nicole Smith news was posted an hour ago - just "refresh" your browser.
Um... I think Anna Nicole & Smith just dropped...
Baker Botts has NOT moved and no rumors are afloat.
There was a Baker Botts "hoax" on Greedy Associates in Texas and later someone said, "oh there is a rumor they are raising today," so we do not really know anything solid on BB.
Jones Day allegedly went to 150K for first years in Dallas
MLB-Princeton numbers out, sent by hardcopy letter individually
145/150/165/170/??/195/205
No clue what the 5th year or 8th year number would be.
... at least something's happening in Miami ...
Someone said A&P matched... did they go to $160k nationwide or just in NYC?
5:33- I just confirmed with a friend of mine that works in the Jones Day office in Dallas. They are at $150K now. It's time for the rest of the Texas firms to jump on board.
6:46, do you have friends at Baker Botts?
Finally, we beat V&E to the punch. New scale (for all offices but NY) outlined below:
2006 145,000
2005 155,000
2004 170,000
2003 190,000
2002 205,000
2001 220,000
2000 230,000
1999 and above will be determined on an individualized basis.
I have several friends at Baker Botts who say there has not been a peep. Those posting B.S. salary schedules for Texas are going to burn in hell.
6:53, I suspsect the partners are doing that to get under our skin.
Any word on Jones Day Chicago? If Dallas is at 150k, Chicago would have to be at least that.
saying Holland & Knight "matched" is a joke. Yes they raised their first year salaires, but other years got raises of approx $5K each. Compression in DC is $145 to 205K ...
holland & knight's match is a complete joke; i see the mass exodus-a-coming
Any confirmation on Jones Day Dallas? If so I made the right choice.....
Word on the street is V&E will announce tomorrow.
If BB is handing out raises, it's new to me. I guess that that rumor's been started by someone from another firm who wants to kick his own firm into gear.
5:16 Is there any memo or confirmation on A&P?
Ropes Ropes Ropes? Any final confirmation on Ropes?
Ropes went to $160 in NY and $145 in Boston/DC
Baker & McKenzie matched $145k in San Diego
JD chicago went to 145, retro to 1/1. for more senior classes, "additonal adjustments will be made as appropriate."
King & Spalding DC, why do you not love me?
Ropes is old news: $160 in NY, $145 everywhere else, with an escalating pay scale.
10:13 PM:
What's it like working at Baker Botts in D.C.?
Outside of NY, does Ropes bump the pay of its patent associates in the Fish & Neave IP group above the $145k scale?
Seems like a necessity when competing against Fish across the country and other patent shops (Quinn, Jones Day, etc.) in California and DC at $160.
Quinn is not a patent shop.
Not a patent shop per se, but Quinn is one of the top IP lit firms in CA, and a direct competitor to the Fish & Neave IP group at Ropes.
Jones Day isn't a patent shop either (yes, I know about the Pennie & Edmonds merger).
But then again, the general practice firms compete directly with the patent shops these days.
Someone confirm Ropes.
A&P matched on 2/8--can absolutely confirm.
A&P matched on 2/8--can absolutely confirm.
Heller Erhman? Any news for the SF office?