Biglaw, Bonuses, Clerkships, Money, Skaddenfreude

Skaddenfreude: Paul Hastings; Late Afternoon Open Thread

onMay 8, 2007 at 4:45 PM

We have to step away from our computer for a bit. So here’s an open thread for discussion of either (1) more West Coast pay raises or (2) more increases in clerkship bonuses.
Also, the rumor from the comments that Paul Hastings has raised is confirmed. The verified memo appears after the jump.

PAUL HASTINGS PAY RAISE MEMO
From: Owens, James F.
Sent: Tuesday, May 08, 2007 12:50 PM
To: Associate Chicago; Associate Los Angeles; Associate Orange County; Associate Palo Alto; Associate San Diego; Associate San Francisco; Associate Washington
Cc: Partner Chicago; Partner Los Angeles; Partner Orange County; Partner Palo Alto; Partner San Diego; Partner San Francisco; Partner Washington; Recruiting & Development; Attorney Dev. Chairs; Office Chairs; Department Chairs
Subject: FY2008 Compensation Structure for Associates, California, Chicago and Washington D.C. Offices
date: May 8, 2007
to: California, Chicago and Washington D.C. Associates
cc: California, Chicago and Washington D. C. Partners, All Department Chairs, All Office Chairs, All AD Chairs, Recruiting & Development
from: Jim Owens and Elizabeth Noe
Co-Chairs, Attorney Development
subject: FY2008 Compensation Structure for Associates, California, Chicago and Washington D.C. Offices
We are pleased to announce that the Firm will be increasing base-level salaries for U.S. Associates in California, Chicago and Washington D.C.. This increase will be reflected in the May 25, 2007 paycheck, retroactive to May 1.
FY2008 Compensation by Class Year and Office is as follows:
Seniority Year
Class year
California, Chicago & WDC
Entering
2007
160,000
1st
2006
160,000
2nd
2005
170,000
3rd
2004
185,000
4th
2003
210,000
5th
2002
230,000
6th
2001
250,000
7th
2000
265,000
8th+
1999
280,000
We thank you for and commend your performance, commitment and hard work throughout the year and your contributions to our success.
Please feel free to contact us or your local Attorney Development Committee Chair or Office Chair if you have any questions.