Here is a memo — yes, a memo, not THE memo — that went out to Jenner & Block associates over the weekend:
Gallopoulos, Gregory S
To: #All Attorneys – All Offices
The Firm is currently giving consideration to our associate compensation structure in light of recent market changes. The Firm remains committed to maintaining a competitive compensation structure and a superior working environment. We anticipate that we will be making changes in our associate compensation structure, and as soon as we have concluded our review and consideration we will be announcing those changes. In the meantime, if anyone has questions or comments, please feel free to call me.
Gregory S. Gallopoulos
Jenner & Block LLP
Our source is optimistic about the chances of a raise:
We have no doubt that Jenner will raise to $160K, but the partners in charge will do it as slowly as possible so they can tell Jenner’s clients (who, like all law firm clients, hate these raises because they don’t pay for any extra talent or skills and because they follow so closely on the heels of 2 other raises in the last year and a half) that they had no choice — every other firm raised as well. That will keep clients as happy as possible, and since the raises will almost certainly be made retroactive to May 1 or June 1, associates won’t care about the delay.
But we’ve also heard from some tipsters who are less sanguine. These sources suggest that maybe Jenner isn’t in the best position to be raising salaries right now.
We’ll have more in a subsequent post (because we have contacted the firm and are waiting to hear back from them). If you have any Jenner gossip to pass along, please email us (subject line: “Jenner and Block”). Thanks.
Earlier: Nationwide Pay Raise Watch: What’s Up With Jenner & Block?