Nationwide Salary Freeze Watch: Buchanan Ingersoll, and a New Round-up
After yesterday’s staff layoff news, it may come as no surprise that Buchanan Ingersoll & Rooney is the latest firm to freeze associate salaries for 2009. From a tipster there:
Buchanan Ingersoll announced a salary freeze for 2009 for all associates except “unusual” cases, e.g., laterals who were brought in at what is now perceived to be slightly undermarket salaries last year may get bumped a little. Several other raises on a case-by-case basis, but they will be few.
Better a freeze than a lay-off, we say. We’ve updated the list of firms that have chosen not to institute class year raises. The list is now 47-firms strong. Check it out, after the jump.
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Here is the list of firms that have frozen salaries at 2008 levels for 2009, or until further notice. Send us updates at tips@abovethelaw.com.
Solid Ice Freeze (2009 salaries will remain at 2008 levels)
Allen & Overy
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Ballard Spahr
Blank Rome
Bryan Cave
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Buchanan Ingersoll
Carter Ledyard & Milburn
Cooley
Dickstein Shapiro
DLA Piper
Freshfields
Goodwin Procter
Hogan & Hartson
Latham & Watkins
Morgan Lewis
Morrison Foerster (except New York associates, who will receive class year raise in their January 2010 bonus)
Orrick
Perkins Coie
Pillsbury Winthrop (for associates who billed less than 1800 hours)
Seyfarth Shaw
Sheppard Mullin
Squire Sanders
[Update: 12:35 p.m.] Steptoe & Johnson
Sutherland
Townsend
Wilson Sonsini
The Slurpee Freeze (2009 salaries will remain at 2008 levels… for now)
Alston & Bird
Andrews Kurth
Arnold & Porter
Baker & McKenzie (will revisit June 30)
Bingham McCutchen
Chadbourne & Parke
Dorsey & Whitney
Fish & Richardson
Fulbright & Jaworski (will revisit after the first quarter)
Katten Muchin
K&L Gates (will revisit in July)
Haynes and Boone
Mayer Brown
McDermott Will & Emery (will revisit in March)
Patton Boggs
Sidley Austin (will revisit “sometime” in the first quarter)
Sonnenschein
Venable
Winston & Strawn
Womble Carlyle (will revisit mid-year)