Biglaw, Money, Skaddenfreude

Nationwide Pay Raise: Dickstein Shapiro

Dickstein Shapiro LLP Abovethelaw Above the Law associate base salaries starting salary blog.jpgDickstein Shapiro has raised to the $160K scale, for its offices in Los Angeles and Washington, DC. Those offices are now on the same salary schedule as the firm’s New York office (previously posted here).
The email announcing the pay raise, from firm chairman Michael Nannes, appears after the jump. It came out some time ago (the middle of last month), but we didn’t receive it until this week.
You can check out the Dickstein Shapiro email, and discuss salary-related matters more generally, after the jump.

From: Nannes, Michael
Sent: Friday, June 15, 2007 2:28 PM
To: ALL Attorneys
Cc: Department Officers
Subject: Associate Salaries
Further to my email message of June 6 , I am pleased to report that the Executive Committee has approved salary increases for DC and LA attorneys, effective July 1, 2007, bringing those salaries to levels equal to the previously published salary levels for NY attorneys.
The year-end bonuses for the three offices also will be similarly structured effective July 1, 2007. Historically, deferred compensation has been paid to DC and LA attorneys (and prior to 2007, NY attorneys as well) based upon chargeable hours. The Firm will recognize deferred compensation for the current year as follows. Since July 1st is two-thirds of the “year” used for calculation of deferred compensation – November 1 through October 31 — the Firm will make a prorated bonus payment (at year end) to DC and LA associates (still with the Firm) who are currently on target to reach the prorated hours thresholds for deferred compensation.
As was published previously for NY associates, such additional bonuses as may be paid at year end will be determined based upon the following factors:
· Firm Profitability
· Market Data
· Quality of Work
· Productivity (which will include consideration of effort level and achievement of chargeable hour thresholds)
· Seniority
As is our current practice, merit bonuses in all offices will continue to be awarded for exceptional performance on client matters (including pro bono work) and client development work. We likewise will continue to award Firm-building bonuses to associates who make extraordinary contributions in such areas as hiring, committees, client development, business development and pro bono activities, as well as to those associates whose productivity has been extraordinary.
Earlier: Skaddenfreude: Dickstein Shapiro, Friday Open Thread

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