Nationwide Salary Cut Watch: Snell & Wilmer Cuts Salaries
Earlier this week, we reported that salary cuts have spread to the Pacific Northwest. Now it appears that the salary cutting craze has migrated to the Southwest. Surely, our territories in Guam will be next.
The Phoenix based firm Snell & Wilmer has cut associate salaries by 10%. Above the Law received this statement from the firm:
We held meetings with our associates in each of our offices on Tuesday, June 16, announced the following, and answered associates’ questions:* Associates’ salaries will be reduced 10% across the board, effective with associates’ July 15, 2009, paychecks; and
* Snell & Wilmer will be paying performance-based bonuses later this year.
It is worth noting that Snell & Wilmer did not freeze associate salaries at 2008, as many other firms have done. So while the cut takes a bite out of the 2009 pay raise, it’s not the double hit some associates are experiencing.
I hear land is still pretty cheap out in the Mojave. Water? That’s a different story.
Earlier: Nationwide Salary Cut Watch: Firms in the Pacific Northwest Also Feel Gloomy
Prior ATL coverage of salary cuts
(38) 
Comments
First to question whether ATL shares pricefixing liability under section 1 of the Sherman Act
NY to 190, suckas!
First?
"[T]erritories in Guam"? We have the U.S. Territory of Guam; I didn't realize there was more than one.
ROFL @ WilmerHale
Isn't Snell & Wilmer what WilmerHale goes by in Arizona? What about WilmerHale's other offices?
Breaking news (predictably on a friday night): Harry Reid and Nancy Pelosi may be secretly dating. Paparazzi snapped this pic:
http://media.eyeblast.org/newsbusters/static/2009/06/2009-06-18APPelosiReid.jpg
Lets hope this keeps up. Associates are way overpaid for the little work they do. Yes, maybe they put a lot of hours in the office, but they aren't doing anything productive with those hours, other than ripping off the client with excessive fees. Time for a change. Time for hope, time for change, time for ObamaWorld.
Will biglaw ever recover from this? God help us all.
It's the Sonoran Desert, not the Mojave Desert.
Jimmy Carter just died.
11 - So did PE ... I hope.
I once paid a Thai hooker 50 bucks to Snell my Wilmer.
Smell (my) Wilmer!
ATL has failed to report on the stealth layoffs of associates and the large staff layoffs in the Phoenix office. Also, Snell never bumped salaries as much as other firms during the good times so this is still a big hit.
What happened to Jimmy Carter? I didn't even know he was in poor health.
10:
Actually, you're the one who's wrong. There's only one desert, just like there's only really one big ocean.
16, just old probably. Too bad.
16,
Nope, he was eaten by wolves. True story.
Is anyone else expecting another round of layoffs in about 1.5 to 2 weeks?
Universal healthcare just died. Suck on that commies!
It would be awesome if you lost your job, then your health insurance and then got sick.
8 - if we're not doing anything productive, STFU and tell us to go home.
Snell & Wilmer has no relation with with Wilmer Hale.
Also, rumors are that they've been conducting stealth layoffs for a while, though the firm says they are normal performance reviews.
The ship be sinking...
24 - "they" = Snell or WH?
Oh sh*t, WilmerHale is folding???!!!
#15, stealth layoffs of associates at their Phoenix office? If they get down to their last pennies, here's some advice for where they might go:
Cal-uh-forn-ya,
is nice to the homeless.
Cal-uh-forn-ya,
super-cool to the homeless.
In the city,
Marina Del Rey.
They take really good care,
of all their homeless.
Who lives in the east 'neath the willow tree?
Sexual Harassment Panda.
Who explains sexual harassment to you and me?
Sexual Harassment Panda.
"Don't say that! Don't touch there!
Don't be nasty!" says the silly bear.
He's come to tell you what's right and wrong.
Sexual Harassment Panda.
And when one little panda puts his furry little willy in another panda's ear, that makes me a very sad panda.
At least you don't work at Sonnenschein. Double hit plus 15%. WTF Sonnenshit?
get your deserts straight elie
26, "They" = Snell & Wilmer as the firm doing stealth layoffs.
LMFAO at the line in the memo stating that this firm will pay "performance-based bonuses" later in the year. Oh, I imagine there will be performance-based action taking place alright. The only problem is that the "bonuses" will be in the form of (i) fresh air, (ii) ample sunshine and (iii) all the time in the world courtesy of a trumped-up, performance-based dismissal.
Face it, once a firm starts cutting pay that firm is signaling to the market that it's in $ trouble. It's also a pretty good indication that the firm is positioned for commodity, not premium, work. Hard to hire the best talent out there when you're cutting pay.
I know a lot of people are out of work, but I'm only talking about this firm's business model here. I know they can find people, but they can't land the best people cutting salaries across the board.
What's wrong with this picture:
Snell & Wilmer
Allen Matkins
Kilpatrick Stockton
Bryan Cave
DLA Piper
Schwabe, Williamson & Wyatt
Dorsey & Whitney
Isn't one of these firms supposed to be at least a semi-prestigious Vault 50 firm? Biggest law firm in the world? Everything matters? What the fuck is wrong with DLA -- isn't it time to cancel the salary cut, as "peer" firms clearly did not follow suit?
- Disappointed DLA associate
ATL sensors comments quicker than mullahs in Iran
Snell & Wilmer: CharacTTTer comes through.
34--
What the hell are you talking about? Kilpatrick Stockton has every bit as much prestige as DLA--if not more--and, like it or not, is more than worthy of being considered a peer firm of DLA. DLA should consider itself lucky to be included in such company. DLA is really just a collection of fiefdoms, and its ATL iteration is getting its ass kicked by Kilpatrick Stockton, among others. Now, go re-read the Mitchell Report and leave the discussion here to those who know what they're talking about.
HTH
If prestige is what matters, I'll take prestige.
And there is nothing more prestigious than being fired from a Vault-50. Nothing.