Nationwide Pay Raise Watch: More on Locke Liddell
Pretty much every time there's a mainstream or legal media article about associate pay raises, we'll link to it. So of course we're linking to this article, from the Texas Lawyer, which reports as follows:
All levels of associates at Houston- and Dallas-based Locke Liddell & Sapp may start their holiday shopping early since receiving news that their compensation just rose significantly. First- and second-year associates at the 403-lawyer firm already knew their salaries increased as of Aug 1. But, according to an Aug. 28 memo Locke Liddell managing partner Jerry Clements sent to associates, more-senior associates also are receiving pay increases retroactive to Aug. 1.Locke Liddell first-year associates in Texas earn a $160,000 base annual salary, and second years earn $170,000. Third-years earn $172,500; fourth-years $175,000; fifth-years $180,000; sixth-years $185,000; seventh-years $190,000; and eighth-years $195,000. The firm has 138 associates in its three Texas offices.
So that's the second half of the Locke Liddell pay raise. Back in July, we wrote about their raises for first- and second-year associates, with details for more senior classes to be determined. Consider them determined.
You can read the rest of the article, which also discusses salaries in the firm's D.C. and New Orleans offices, over here.
All Levels of Locke Liddell Associates Getting Raises [Texas Lawyer]
Earlier: Nationwide Pay Raise Watch: Locke Liddell Has Raised
(18) Comments
I heard Chief Justice Roberts suggested this raise.
&
First, bitches!!!
Holy ouch. You'd better hope that there's another round of pay raises, LLers - those class raises aren't even keeping up with inflation.
Cumpression.
Worst. Compression. Ever.
Oh hai. I'm in ur law firm, compressing ur salreez.
Who cares about compression? You can live like J.R. on $160k in Texas.
What does this do to the poor bastards at Lord Bissel in, say, Chicago or LA? Can't possibly be the same - people would flee in droves (which they should anyways, given the firm is a large-scale insurance defense shop)
After bonus, a first year associate at any major firm in New York will make more than an *eighth* year associate at Locke Liddell in Texas! BTW, $160K in a major city in Texas does not allow you to live like J.R. Ferrari's cost at least $180K in Texas, just like in most other states.
3:36 -
On the other hand, if you're considering buying Ferrari's [sic], you can save money on suits:
http://www.mensitaly.com/tools.aspx?id=130
Weren't the founders of Rome supposed to have been raised by a wolf?
just one wolf? or a pack?
This is substantially the same as V&E. There is "deferred compensation" that will eliminate some of the compression if the associates hit 2000 hours. That's the "new way" in Texas.
Also, neither Locke nor Lord Bissell does much, if any, insurance defense from what I can tell. They both do quite a bit of insurance coverage, but that is not the same thing.
This writeup is highly misleading. It is the same scale as V&E.
lol @ the retards in this thread. It's deferred, essentially the same as all the other bigtex firms.
Dear the biglaw lawyers,
You will never be able to afford a ferrari unless you make partner.
-The common sense
There is a large deferred portion that kicks in at 2000 that the article neglected to mention. The 8th years billing 2000+ are making like 260k.
1990 Ferrari 348 TS; This Spectacular 348 TS has very low mileage and is in impeccable condition. Ferrari designed this model for efficiency and ease of use with inspiration drawn from the F40 and the Testarossa. With easy removal of the top the sun will follow you on every twist and turn. This car has been well maintained and it Shows! Special Kinesis Chrome Wheels! Only 23,288 miles. Price: $51,900 Even on a Texas associates salary! LOL
I'll correct myself, lawyers, you can afford a 17 year old ferrari!
-29 yr old banker with 2 year old ferrari
any news on the l,b & b & ll merger?