Nationwide Pay Raise Watch: Foley & Lardner

Foley Lardner LLP logo Above the Law blog.jpgThis latest bit of associate pay raise news is not particularly new. It was conveyed last week, via hard copy letter (in envelopes marked “professional and confidential”).
But we never met a pay raise announcement we didn’t like, so we’ll pass it along. Foley & Lardner — which, by the way, recently announced its new partnership class — has raised the salaries of its non-IP associates in the Milwaukee, Miami, and Detroit offices.
Numbers and tables, after the jump.

Non-IP Associates
1850 billable hours/150 investment hours
2002: 185K
2003: 170K
2004: 160K
2005: 155K
2006: 150K
2007: 145K
2008: 145K
1950 billable hours/150 investment hours
2002: 225K
2003: 205K
2004: 190K
2005: 175K
2006: 165K
2007: N/A
2008: N/A
IP Associates
In Milwaukee, Detroit and Miami, but also believed to be the salaries for the firm’s big market offices (i.e Chicago, NYC, LA, SF, DC):
2002: 200K
2003: 185K
2004: 175K
2005: 170K
2006: 165K
2007: 160K
2008: 160K
2002: 240K
2003: 220K
2004: 205K
2005: 190K
2006: 180K
2007: N/A
2008: N/A
Some observations from our source:
* Yes, there’s lots of year-to-year compression.
* But this is market-leading in Detroit and Milwaukee. (The Miami office is small and new.)
* The two-pay-hike divide between IP and non-IP lawyers for the past year was not well-received by the non-IP lawyers. So this raise is a step in the right direction (from the point of view of the non-IP lawyers).
Foley Elects New Partners [Foley & Lardner LLP]

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