Update: If You Show Me Yours, I’ll Show You Mine
(Or: A less casual comparison of severance packages.)
Hello, friends. The tables we’re compiling these days are not fun ones. We’ve posted running lists of the firms that have frozen salaries — as well as a list of those that haven’t — and, in this post, a list of the going rates in severance packages.
With layoffs still going strong, knowing the severance terms at your firm is more important than ever. As reported earlier today, 70 to 150 Latham associates could be handed three-month goodbye presents on Friday.
We put together a casual comparison of severance packages last week, and we asked those with knowledge to weigh in. ATL readers offered several corrections and additional information. We even had a firm spokesman email us to correct a listing.
We offer a new table, after the jump, along with the same caveats from the first time around.
We’re including an abridged version of the explanatory notes we included the first time around:
1. This survey is informal (and far from rigorous). With a few exceptions, the severance package information was self-reported by the dismissed attorneys; we generally have not verified it with official firm representatives.2. The information came from lawyers who were victims of forced attrition. Forced attrition encompasses acknowledged layoffs, stealth layoffs, performance-based dismissals, or any other departure from a firm in a less-than-totally-voluntary manner.
You may see on the list some firms that have not publicly admitted to layoffs. We are not saying that these firms have conducted “layoffs” as such, but it would appear that they have asked at least some of their lawyers to leave. We take no position on how to characterize those departures; as we’ve previously opined, what constitutes a “layoff” may be in the eye of the beholder.
3. There were some conflicting reports for some firms. These are likely due to variations by office, department, seniority, timing (which round or wave the person was in), individual negotiation with the firm, etc. We’ve tried to figure out and note the reasons for the conflicts, but some are irreconcilable. People at the same firm don’t always get the same deal.
We’ve done our best, but we’d like to emphasize once again the informal, crowd-sourced, non-official nature of this survey.
If you have information to add, please email us (subject line: “Severance Watch”). We prefer email to posting in the comments because of the enhanced accountability and ability for us to ask follow up questions of you. We promise anonymity, as always. Thanks.
LAW FIRM SEVERANCE PACKAGES FOR ATTORNEYS
Updated: March 2, 2009
| Firm | Severance / Notice |
| Arent Fox | None (3 months notice) |
| Baker & McKenzie | 3 months |
| Baker Botts | 3 months |
| Bilzin Sumberg | 2 months |
| Bingham McCutchen | 3 months |
| Blank Rome | 1 month |
| Bracewell & Giuliani | 2 months |
| Cadwalader Wickersham & Taft | 3 months (1st round); 5 months (2nd round) |
| Cooley Godward Kronish | 3 months |
| Cox Castle & Nicholson | 6 weeks |
| Davis Polk & Wardwell | None (3 months notice) |
| Dechert LLP | 3 months |
| Dewey & LeBoeuf | 3 months |
| DLA Piper | Varies (2-3 months) |
| Fish & Richardson | 2 months |
| Fried Frank | 3 months |
| Goodwin Procter | 3 months |
| Greenberg Traurig | 2 months |
| Hogan & Hartson | None (3 months notice) |
| Jones Day | None (3 months notice) |
| Katten Muchin Rosenman | None (3 months notice) | Kaye Scholer | None (3-4 months notice) | Kirkland & Ellis | None (3 months notice) | Latham & Watkins | 3 months (1st round); 6 months (2nd round) |
| Linklaters | Varies (3-5 months) |
| Loeb & Loeb | 2 months |
| Mayer Brown | 3 months |
| McDermott Will & Emery | 3 months |
| McKee Nelson | 4 months |
| Milbank | Varies (1-3 months) |
| Morrison Foerster | Varies (2-6 months) |
| Morgan Lewis | 2 months |
| O’Melveny & Myers | 2 months |
| Orrick Herrington & Sutcliffe | 5 months (1st round of layoffs; 2 months thereafter) |
| Paul Hastings | 3 months |
| Pillsbury | 2 months |
| Reed Smith | 2 months |
| Schiff Hardin | 3 months |
| Schulte Roth & Zabel | None (2-3 months notice) |
| Shearman & Sterling | Varies (1-2 months) |
| Sonnenschein Nath & Rosenthal | None (2.5 months notice) |
| Squire Sanders | 3 months |
| Sutherland | 3 months |
| Troutman Sanders | 3 months |
| White & Case | 3 months |
| Willkie Farr & Gallagher | Varies (4-6 months) |
| Wilson Sonsini | 3 months |
| Winstead | None (1 month notice) |
| WolfBlock | 2 months |
Earlier: If You Show Me Yours, I’ll Show You Mine
(Or: A casual comparison of severance packages.)




Comments
Wastin away again in Latham Layoffville
Lookin for my lost associate job
Some people say that there's a recession to blame
But I know, its the management's fault
What about GIbson Dunn? Any layoffs? Summer offers?
Cooley gave 3 to 6 months depending on length of service. 1 month per full year with the firm, min. 3, max. 6.
6th, suckas'
are firms like latham giving severance to 2L's who get their summer canceled (lost opportunity cost, etc?)
DOW had layoffs?
wow...kirkland has had layoffs already? and no severance! ttt
Latham is offering laid off 2Ls up to 1 month of douchebaggery lessons to make up for the summer cancellation.
Didn't Thacher give 5-6 months way back when?
The only layoffs kirkland's had are NSPs.
The only layoffs kirkland's had are NSPs, unlike the associate layoffs at all the rest of these TTTs.
They aren't "layoffs," just performance-based dismissals. Note the provision of notice in lieu of severance.
No shout out to the firms with 3+months of severance. In the grand scheme for those who have barely fired, and if they have, have killer severances - a leader clearly emerges...
WILLKIE! WILLKIE!
Is there a chart that summarizes all the layoffs? How many nationwide now? How many in each city? How many lawyers are really out of work? How does this compare to the national unemployment rate? Has anyone found a new job?
At the end of the day, what is the difference between a Kirkland non-share partner (NSP) and a senior associate?
The only layoffs kirkland's had are NSPs, unlike the associate layoffs at all the rest of these TTTs.
I wonder if Willkie will be able to keep the long severance period with the increasing number of layoffs?
16: nothing.
14 - Here are some good resources for overviews of the layoff action:
http://abovethelaw.com/2009/02/some_resource_for_making_sense.php
Kirkland had at least 5-10 assoc layoffs in ny...which were not performance based but low billable hours based...(ie partners not having enough work to dole out)
K&E has had stealth layoffs in Chicago too, dating back to 2007-2008.
did K&L Gates announce layoffs yet? is it going on *right now*?
15: Kirkland's NSPs have higher base salaries, receive bigger bonuses and are given anywhere from 6-12 months to find a new job before they're shitcanned. Oh, yeah, and their business cards say "partner."
K&L Gates is waiting until the end of this month / early next month to announce its cuts:
http://abovethelaw.com/2009/02/kl_gates_recession_measures.php
23: It doesn't really matter that the business cards of the NSP's says "partner," becuase everyone knows that Kirkland makes loads of senior associates into "partners" before ultimately ditching most of them. Kirkland has watered down the "partner" brand at thier own firm.
Now, a business card from a more selective firm that says "partner,' might mean something.
OCEANS RISE
CITIES FALL
QUINN HASN'T LAID ANYONE OFF
ROFLROFLROFL
Schulte - 3 mnths
25 = EPIC FAIL. You should have worried more about getting into a somewhat selective school, based on the 3 errors (both spelling and grammar) in the first two sentences of your post. Don't be bitter about Kirkland, they are far too selective to consider the likes of you -- no need to take it personally.
23/28 = a Kirkland NSP who has just been given that 6 months to find another job and who has just discovered that the "partner" title on his Kirkland business card doesn't mean sh*t to any other firm or recruiter.
Good luck finding employment, "partner" 23/28.
Proskauer?
Thanks for the compliment, 29! Luckily for you, I'm not a Kirkland partner -- if I were, you'd be lying on the ground bleeding profusely. I'd advise you against mixing it up with one of them -- stick with support staffers like me -- at least you're playing on a level field that way.
Also? Thanks for the "wishing luck" and all, but I don't plan on going anywhere: Kirkland has been very good to me, and I fully expect that to continue for quite some time.
Since when are staffers allowed to comment here?
Since when are staffers allowed to comment here?
Since when are staffers allowed to comment here?
23/28/31: Regardless of your position, the fact of the matter is that Kirkland has diluted the "partner" title at its own firm by making way too many of them. They are nothing more than senior associates, they perform work that is performed by senior associates at other more selective firms, and they end up like most senior associates -- ejected from the firm. Once out of work, they are no more employable than any other fired senior associate is.
And don't kid yourself, a Kirkland paralegal has even less job security than a Kirkland "partner."
Now that you've been educated, get back to filing, paralegal.
32-34 Since they learned to press the comment button only once, you douche.
first
35, not arguing with your main point about Kirkland NSPs, but you're kidding yourself if you think K&E isn't selective. I'm not a paralegal either, but I don't need you to "educate" me -- I'd be willing to bet that I graduated with a higher GPA than you, and probably from a better school. But, because I am feeling especially magnanimous today, I will allow you to believe that you have succeeded in your attempt to educate me.
I do need to get back to work, though, so you get partial credit -- thankfully, it doesn't include too much in the way of filing.
Is Jones Day really laying people off? if so, I haven't seen any ATL coverage on it.
At Bryan Cave, our robotic non-communicative asswipe of a Chairman Don Lents sent out memo that says "we have empathy." Maybe he wrote that while eating lunch alone in the Noonday Club as is his traditional fashion. Oh, and utterly useless "yes man" Frank Wolff tried to be a cheerleader. The same Frank Wolff who has not taken a vacation of more than two consecutive days in 14 years out of fear the rest of Bryan Cave will figure out he doesn't do anything other than try to serve as some sort of warped student council president.
What a clusterfuck.
23/28/31/38: Kirkland is "selective"? You are wrong about that, too. "Selective" means "characterized by careful choice." By that standard, Kirkland is most certainly not "selective" when it comes to making partners. Essentially any hardworking and semi-competent senior associate gets the brass ring at Kirkland. In fact, most other firms are far more "selective" when making partners. As a result, partners at those firms tend to last longer than the so-called "partners" at Kirkland. You seem to agree with me on this point, so we can drop it.
However, I would not regard Kirkland as all that selective when it comes to hiring, either. (For example, one can just read your posts to see the shortcomings in Kirkland's hiring practices. But that's a different story.) At the end of the day, any associate qualified for, say, NY Biglaw has a good shot at getting hired at Kirkland, too. Hence, Kirkland is not particularly selective. Q.E.D.
boies?
Does ATL have a deal to keep out news about Ropes & Gray?
What's there to say about Ropes & Gray?
Hogan has had layoffs???
Hogan has had layoffs?
Willkie gave 4-6 months' notice not severance. The Greenberg # is wrong - they gave about 4-6 weeks notice. Proskauer gave 3 months' severance (at least to their 1st round, we'll see what the next round brings).
As a staffer, it's always been stressful working for Biglaw firms. But the money was good. Now there's no money. I may have to take a massive pay cut outside of a law firm, but I won't have to put up with the mental abuse. I did it for the money.
47 - ATL has reported that Willkie only laid off staffers, is this no longer true?
When did Greenberg have layoffs or is this just the firm's standard severance package?
I think the disclaimer to this list should be bold and highlighted as it is very misleading. For example, Jones Day has not layed off anyone due to the economy or engaged in stealth layoffs. On the contrary, it's opening new offices and hiring laterals.
Cahill, 3 mo.
CORRECTION-
O'MELVENY GAVE 2 MONTHS NOTICE; ZERO SEVERANCE
Geez, 40, did Don Lents and Frank Wolff have a threesome with your wife or something? Why so bitter?
At Bryan Cave NY, I believe severance was 12 weeks in the recent layoffs. Don't know about other offices.
At Arent Fox, the three months notice gives you the following: use of your office, full pay and bennies, an email account, and phone service (including voice mail). Your profile will appear on the firm web site.
You do not have to report to work during the three month period (depends on your practice group, though). After the three months, you have to leave the premises. You get outplacement assistance (counseling and resume/search help) from the time you give notice until you get another job, paid for by Arent.
I've known people to get more from Arent (6 mos. notice under same terms as above, for example). It depends on the practice group leader and the group and frankly, how much they like you.
Arent Fox has been laying off people for many years in a stealth way. The firm hasn't been healthy in the past 10 years...too many deadwood partners, and some groups (such as their IP group) have way too many deadwood partners and not enough good clients for all.
A belated comment. With a few exceptions, the treatment appears remarkably humane--even if the motivation is to avoid litigation, and one has to sign a general release. Also, for lawyers, "notice" is generally better than "severance," provided that one doesn't have to keep office hours.
mckee nelson did not give 4 months to everyone