Last Monday, we reported that Nixon Peabody would be cutting salaries. We noted that the pay cuts would be reflected in the May 21st paycheck.
Over the weekend, a source sent us detailed salary information about all of Nixon’s offices. Is this the shape of things to come? According to our tipster, here’s the new first year pay scale:
* $145,000 in NYC, Boston, Chicago, DC and California; ($20k cut)
* $95,000 in Upstate NY, Manchester, Providence ($10k cut)
* $110,000 on Long Island ($10k cut)
These new salaries will also be applied to Nixon Peabody summer associates.
But after the jump, we check out the cuts further up the pay scale.
The salary news doesn’t get much better for second or third years at Nixon Peabody. The available pay raises are in slow motion:
2nd years will be reduced to:
* $150,000 in NYC, Boston, Chicago, DC and California
* $98,000 in Upstate NY, Manchester, Providence
* $115,000 on Long Island
3rd years will be reduced to:
* $155,000 in NYC, Boston, Chicago, DC and California
* $102,000 in Upstate NY, Manchester, Providence
* $120,000 on Long Island
A third year at Nixon Peabody is now making less than a first year at one of the many firms that hasn’t cut salaries.
After the first three years, our source reports that salary decisions are being made on a case-by-case basis. Some of the cuts for fourth years and above have been substantial.
The best news is that Nixon’s cuts have not been adopted by peer firms. At least not yet.
Earlier: Salary Cut Watch: Nixon Peabody Can, So it Did
Prior ATL coverage of salary cuts