Open Thread: Business as Usual, or The Firms That Have Not Frozen Salaries
We still don’t think Biglaw firms giving out normal raises is news. But judging from the number of e-mails and comments we’ve received begging for this list, many ATL readers judge this post-worthy.
In case you’re somehow unfamiliar with the practice, Biglaw firms tend to have a tiered salary system keyed to associates’ class years. In the new year, when an associate moves up a class, they move to the next level on the pay scale. An example of such a scale, from Cleary Gottlieb’s 2009 salary memo (posted in full after the jump):
Class Salary
2008 and participants in the International Lawyer Program – $160,000
2007 – $170,000
2006 – $185,000
2005 – $210,000
2004 – $230,000
2003 – $250,000
2002 – $265,000
2001 – $280,000
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Some 32 firms (that we know of) are responding to economic pressures by freezing salaries: capping pay scales at last year’s rates.
But a number of firms are giving their associates the usual $10,000 – $25,000 raise. This is an open thread for those getting the pay bump to brag about it. A list of nearly 50 firms conducting business as usual with raises, after the jump.
“BigLaw Attorney” in the ATL Community has posted a thread on firms that have not frozen. Here’s his or her list of firms, with some editing by us:
Baker Botts
Baker Hostetler
Boies Schiller
Bracewell Giuliani
Cahill
Cleary
Clifford Chance
Covington
Cravath
Crowell & Moring
Davis Polk
Debevoise
Dechert
Dewey
Finnegan
Fitzpatrick Cella
Foley & Lardner
Freshfields Bruckhaus Deringer
Fried Frank
Gibson Dunn
Greenberg Traurig
Holland & Knight
Hughes Hubbard
Irell & Manella
Jones Day
Kaye Scholer
Kenyon & Kenyon
King & Spalding
Kirkland
Kramer Levin
Linklaters
[UPDATE Feb. 2] Milbank
Morgan LewisMunger
O’Melveny
Paul Hastings
Paul Weiss
Proskauer Rose
Quinn Emanuel
Reed Smith
Ropes & Gray
Schulte
Shearman
Simpson Thacher
Skadden
Sullivan
Vinson & Elkins
Weil
White & Case
Williams & Connolly
Willkie Farr
WilmerHale
Winston & Strawn
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Discuss, correct, and brag in the comments.
CLEARY & GOTTLIEB 2009 SALARY MEMORANDUM
Earlier: Updated Salary Freeze Round-up: Even More Firms on Ice