Nationwide Pay Raise Watch: Alston & Bird Raises (in DC)
Memo from Jonathan Lowe to all DC associates, after the jump.
ALSTON & BIRD -- WASHINGTON, DC -- ASSOCIATE PAY RAISE MEMO
I am pleased to announce that the Partners Committee has approved salary increases for all associates in the Washington office, to become effective September 1, 2007, as set out below.
DC Class Year Current Scale New Scale
Stub Year $145,000 $160,000
1st year $145,000 $160,000
2nd year $155,000 $170,000
3rd year $170,000 $185,000
4th year $190,000 $210,000
5th year $210,000 $230,000
6th year $225,000 $250,000
7th year $240,000 $265,000
Alston & Bird is committed to providing excellent services to our clients. We recognize that in order to provide that service we must not only attract the best talent in each of our markets, we must also reward our associates for their substantial contributions. Thank you for all you do to advance our clients' interests and to make our firm a great place to work.
This will apply to the new associates who will be joining us next week, and we will include this information in our communications to summer associates as well. If you have any questions, please feel free to call me or anyone on the Partners' Committee.
Jon
(31) Comments
First!
Why do I get the feeling that there will be an onslaught of disgruntled folks from Atlanta chiming in on this one today?
What is "stub year"?
If that is the initial Sept - Dec that new associates work, I think this is behind the NY scale.
My understanding of the NY scale is that new associates make $160k (pro rated) for that initial Sept - Dec period, then beginning in January they are on the "2nd year" scale (i.e., $170k).
Is this correct?
10:51-
No- this is the same as NYC. All firms pay you as a "first year" for your first 16 (or so) months.
Of course they start billing you as a second year come the following september (or whenever you started), but you don't get the raise until january.
No you are not correct douche bag.
Then came the layoffs.
Being greedy at an age of economic turmoil and downturn isn't brilliant. A law degree doesn't entitle you to $160,000 while there are masses of foreclosures coming in and name banks are buckling.
11:03 -
Care to name any of the "name banks" for us?
So the relative worth of same year associates as measured by A&B is again revealed to suck.
While Atlanta associates are getting 10k raises year 4-7 DC associates are getting 20k,20k,25k,25k.
I'm graduating from law school in December and taking the February bar. What about firms paying you as a first year for 19 months? Still have to wait almost 2 years to be a second year??
No Kitty, this is my potpie.
11:08
http://blogs.wsj.com/marketbeat/2007/08/28/run-on-the-banks/#comments
Draw your own conclusions.
11:13 - I graduated in Dec and started the following March and will have to wait almost 2 years to be a second year, but I will be bonus eligible the first year, whereas those that graduated in May and start in September will not get a bonus (my firm usually gives a stipend and no stub bonus for first years). I would imagine your firm would treat you similar, but the only way to know for sure is to ask.
Why the F are you guys graduating in December?
University of Michigan has an early start program where you take some classes starting in the summer before you actually begin law school, therefore you can graduate a semester early in December. I think a few other schools do the same (Iowa comes to mind). There are also Dec. grads from part-time programs or joint degrees, etc. At my firm it seems there are about 2-4 out of about 50 first years that end up being Dec. grads, so while it is relatively rare, it does happen.
Georgia State has a part time program so we have people graduate in December, May, and August. Also, have a joint JD MBA that also contributes to other than May grads. :-)
So Troutman Sanders is the only Atlanta firm to make its DC associates wait until Jan. 1?
Any word on Kilpatrick Stockton?
troutman sucks. bottom line.
troutman sucks. bottom line.
well, that pretty much ensures I won't be going to A&B Atlanta.
David:
This should be tagged Skaddenfreude; it's not showing up on that subpage.
to "ts sucks" -
you guys have more worries than waiting for the bump. how long until you have to meet the minimum billable hours the rest of us have been pulling for a couple of years??? wimps
btw - word is that TS is going to cull in its non-headquarters (ie, non-ATL, non-NYC) offices to justify the bump - have you heard anything???
btw - word is that TS is going to cull in its non-headquarters (ie, non-ATL, non-NYC) offices to justify the bump - have you heard anything???
TS Sucks - what do you mean? That TS is going to fire associates in its non-HQ offices?
Does that mean raises for A&B in ATL are effective Jan 1, but DC is effective Sep 1, and of course Troutman is behind as usual in DC
by cull in - are they going to narrow upper level pay (vs. their posted first year associate pay) or are they going bump everyone lock step?
Troutman already gave an across the board bump of $15K for each class year for those offices. They might screw the upper level associates at merit increase time though.
Jon Lowe is a drunken midget.
be nice
Troutman has got to make their raises in DC effective as of Sept. 1
Anyone else hear that A&B DC just lost a bunch of attorneys? Does anyone know the scoop on that one?