shit was so cash

Lockstep is becoming lockschlep.

A brilliant move, because those who are the most valuable right now-- bankruptcy attorneys, IP attorneys, and the like-- have the most ability to jump ship to a firm that pays market. So, they'll quickly have plenty of do-nothing finance associates as they lose the people who are actually billing. Brilliant.

Didn't they just hire Paul Clement for $5 million?

Don't you think we're about to have a flurry of starting salary paycuts? I think the class of 2009 will give that picture a lot more use...

4 - And what defines market, lockstep?

Didn’t this firm Latham its first years?

Overpaid associates are having their salaries cut?! Wah!

I wish these firms would just bit the bullet and announce that associates starting in January of 2010 will be paid 100 or 110 or something. I think most of my peers would much rather take that pay cut and actually start than 'make' 145 or 160 and never start working at our firms.

7-- The market by definition is what other firms are paying attorneys in their class year/specialty. Cutting all salaries, even for those associates who are really busy, is a guaranteed way to lose those who can get their old salary somewhere else, and keep those who can't find other work. It'

The ship be sinking...

We're not done with salary cuts.

How you like me now?

They will never cut 1st year salaries just for prestige reasons. The cost savings is nil and the prestige cut is huge.

End of month. Time for time entry Chrometa style so I can pretend I was productive this month.

Let's see if King & Spalding reduces their billing rates by a similar proportion...

If so, this can be spun as a sensible repsonse to a new economic reality, by a firm that understands the pressures facing its clients...

If not, then its nothing more than a cash grab by greedy partners.

Odds that billing rates are reduced?

"It's serious question."

It's serious that Mystal can't write and yet, by some grace, managed to graduate from HLS. How is this possible??

Problem is, in Atlanta, K&S is basically the last major firm to annouce a pay cut--so there aren't many places for those "top billers" in busy practice groups to go.

Any word on incoming/deferred associate salaries?

Please "investigate"

18, sure, but the Atlanta/Charlotte folks have the 'additional' cut-- the associates in NY are now getting paid below market and should jump ship ASAP.

If K&S did it today, I'm sure Atlanta's "also-ran," A&B, will feel free to do it next week. After all, the two firms' managing partners are brothers, and have no doubt strategized together. A little incest, a little collusion . . . How very southern!

10 - Bite your fingers, you are dead wrong. I'd rather go do something else

"...should jump ship ASAP."

What firms are hiring?

"These salary changes will only apply going forward and will not be retroactive to the beginning of the year." = We regret to inform you that we realize that the law prevents us from taking back money we are paid you.

10 - I agree with you 100%. We "January starters" need to face reality -- we will not be starting at our firms any time soon unless salaries are reduced significantly.

I almost want to email my firm and let them know that reducing our salaries is an easy way for them to save money. And, best of all, we will take the salary cut with a smile!

23-- At least in NY, almost every firm with a bankruptcy group would be happy to take on a lateral who had 1+ years of bankruptcy experience. I don't know who's hiring for other specialties.

25 - I'm glad to see that you feel entitled to a smaller salary!

27 - I am so sick the "entitlement" argument. We do not feel entitled to anything. But we did work hard for our "offers" and are eager to start our careers.

Tell me, oh wise one, how did you feel when you were just getting started? Of course, you don't remember that, just a few short years ago, you were in the exact same situation as us, only with luckier timing.

Uh, 4, hate to break it to you, but the IP attorneys are sitting on their fat asses, waiting for the tsunami of litigation to come from all the corporations that have drastically cut prosecutions, or are farming them out to cheaper fees for services firms.

Unfortunately, that litigation isn't manifesting.

QUINN REMAINS at market (for now)

1. k&s is no longer at the top of the atlanta-based salary market. alston & bird did a freeze + 5k cut; k&s did freeze + 10k cut. prestige, schmestige--this is not a time to jump ship, especially in atlanta.

but never for a minute did any associate at k&s ever believe that they would get paid less than their classmates at alston & bird

2. it is interesting to point out that the firm's average for billable hours is annualizing near 2000 hours for associates and counsel

3. for a fact, i can attest that many clients of k&s have adopted 2008 billable rates and not even acknowledged the seniority of the associates working on their matters. it would theoretically make sense to adjust salaries likewise, except...

4. we'll see what the profits per partner is like. my bet is $1.2 million at least

Scared 3L,

I too am a "january starter" and absolutely hate the "entitlement" argument. However, I feel much better now, because over the last few weeks, it has become apparent that the people making those comments are students/grads of TTT schools, that will never work for big law firms. This is their way of sticking it to us.

I wonder if the salary cut allows a K&S employee to revert to business casual? You monkeys should have a "polo-in".

What this website has failed to report is that there are some peer firms that have started reducing associate compensation on a case by case basis. The affected associates are brought into offices and told under sub rosa conditions that they will incur a 8-15% salary reduction. They are also warned that if this information is shared or disclosed with anyone, including this website, they will suffer career ending repercussions (i.e., termination with extreme prejudice and general blacklisting within the profession). Trust me when I say that my hybrid tough love package is slowly making the rounds at peer firms. Thus far my income has not been affected by Obama's incompetent economic leadership. I will be riding the silver wave to retirement. That is all.

33 - was just thinking that. Will K&S associates still have to wear suits every day? Does the firm realize that it's in Atlanta, which is 1) irrelevant; 2) hot as fuck? There is no need for you all to wear suits every day.

I am personally very glad I did not take my offer from K&S in Atlanta and decided to bite the bullet and try my luck in a larger legal market up north. The hours and expectations of K&S in Atlanta are beyond what they pay and this is definitely a step in the wrong direction for the firm.

The management of K&S is fairly clueless. A cursory review of the problems they have had with the NY office, and the assumptions they made about opening said NY office, evinces the leaderships' inadequacies.

K&S, where will you draw the line?

This cycle shall one day pass and not long after there is another boom in the legal industry, firms will rush back to lockstep, claiming that it is far easier to administer and results in a more equitable result.

31: is there any talk of bringing on laterals/doing any hiring or are the partners going to just work their bare bones staff to death to maximize their profits?

PE - just letting you know, in your case, it's hard to "retire" from unemployment

27 = douche with extremely limited reading comprehension. He/she/it is unable to tell the difference between "I'm entitled" and "I just so badly want to keep my job that I'll take a huge pay cut if that would save it, please!".

Nobody is going to jump ship. If the firm wants to keep a particular associate who is planning on leaving, the firm simply will pay the associate more money to keep him/her. The bottom line is that most associates aren't worth a fraction of what they are paid in salary and benefits, so it's way past overdue for firms to cut their pay, lay them off, defer hires, and generally start to operate the firm as a real business.

The only thing that was so last season were the pants Lat wore at the Ritz bar last night.

This is a big big day for the 'special' folks at Atlanta's WorsTTT Law Firm© McKenna Long & Aldridge.

Note that now even the mightiest Atlanta firm stooped down to this level! AWLFMLA would like to remind all of you considering Atlanta, that it is a LEADER in the Atlanta market. (LEADER in salary cuts and LEADER in awful culture, even a LEADER in NO OFFERING multiple people in 2007 so a LEADER of the recession!)

39: haven't seen lateral associates for a real long time. still bringing in partners... lots of points to give out for lateral equity partners when we de-equitize or push out lots of other partners.

does anyone know who suzanne feese is? has her departure email gotten any abovethelaw burn? if not i'll try to find it and cut and paste... it's pretty priceless.

45, please post and send to tips@abovethelaw.com.

11 - Actually, market is nothing more then a data point. Your job, more specifically, YOU in that job has a market value of what YOU are getting paid.

Much like real estate. The average price for something similar may be X, but if you accept a different number, you have just set your market value.

My son is afflicted by the rare medical condition known as micropenis. His Micropenic Complex causes him to post outlandish lies about his stature on this website.

@26: That's not entirely true. I work at a bank (used to be at a law firm) and deal with bankruptcy events as they occur. Truth is, there aren't that many right now--most companies are restructuring their debt outside of bankruptcy, thereby avoiding a filing (and giving a lot of work to law firms that deal in high yield financing). There have been some major bankruptcies recently, but these are generally handled by a small group of firms. So, your average BK practice in NYC isn't booming.

With enough courage, you can do without a reputation.

I love all these "jump ship" prognostications. To what ship will they jump? If their current firm doesn't value them, what makes you think the new one will?

Did they change the definition of "entitled" without telling us old folks? Now I know how the people who didn't get the memo must have felt when "gay" suddenly meant something new.

Wait a minute here! King & Spalding is a real firm? All this time I was thinking it was a made-up name like the Law Offices of Hugh G. Rection.

53 - I thought they were a roadside custard stand.

Even the allegedly strong V40 or so firms will begin to wonder why they are paying NYC market in DC/Dallas/Miami/Houston when every day another of the regional firms they compete with in the provinces cries uncle.

At least the firm can always fall back on its sporting goods arm. However, they might want to find a way to terminate their endorsement deal with Greg Oden, just to save some additional dollars.

Jumping ship = heading to Davey Jones.

Who the hell would want to live and work in Atlanta, the Africa of the South.

PE mom for the win... I enjoy her posts much more than PE's

ATL is the National Enquirer of the legal community.

PE(merimom):

Keep it coming, granny. I'm a big fan.

So, hmm. If a current first year in the ATL office is making $145K and then as of September he stays at $145K (no class advancement in terms of salary) and then they cut $10K - he is making $135K as a second year.

So in January when the new first years start - they are going to have to make less than $135K - which means that first years in ATL could soon make less than they would have in 2006 (when starting salaries were $130K, and when NYC jumped to $160K, ATL went to $145K).

Interesting.

62 - Interesting, but still extracts a big hairy, sofa king what?

62 - that's really not an issue given that no first years will actually start in January. Phone calls will be made in the coming weeks.

Where is futuer Ellie?

Thanks, Obama.

66-you remind me of a funny story.

Last summer, just before starting work, some friends of mine and I were spending a week at Litchfield Beach in SC. One day, a couple of us went out to play golf at Litchfield Country Club. Since we did not have a full foursome, we were paired with a "single" who was about 5 years older than us. We later learned that he was an associate at K&S in Atlanta. In almost the some breath, he asked us if we were voting for Obama, because he was convinced that if Obama were elected, his entire life would be ruined by the adverse impact it would have on his firm (and if we were planning to vote for Obama, then we could just go ahead without him).

How prophetic.

To all of you morons out there who blame this mess on Obama, think again. The financial meltdown and all of the deregulation, including, the decision to allow Lehman to fail was a decision made by George Bush, Chris Cox and Hank Paulson, occurred while George Bush was president.

I don't know who this Obama person is, but he must be mighty powerful to ruin the entire U.S. economy in a matter of months. I wouldn't mess with him if I were you.

Elie, good job with the critical questions. Good post.

-Post judger

Funny how K & S hires foreign attorneys that are not even qualified in any US jurisdiction and then have to fire US attorneys. i.e. see Houston Office for instance.

more about Suzanne Feese !!!

http://www.facebook.com/people/Suzanne-Feese/681721685

What is a salary cut and salary freeze? The way it works at my firm is that we get raises each year. And, boy, am I enjoying my job security.

-Small firm attorney (laughing as his salary continues to approach the salary he was making at his big firm - yet still no billable hour requirement)

58=Dumbass. Atlanta is the New York of the South, for whatever that's worth, and it has been for some time.

There is a reason there are no old houses there.

Thanks, Obama.

Thanks, Bush. You too Reagan.

Waaah Foreign attorneys take our jobs! Waaahhh

Thats nothing. In addition to freezes and salary cuts, Sonnenschein is cutting the use of paper coffee cups.

75: You're very welcome. But this isn't about me. I have great health insurance.

I'm Barack Obama?

74 – You are also a dumbass. I lived in Atlanta most of my life. I now live in New York, but I still go back to visit family in Atlanta. You can’t even begin to compare the two cities. Atlanta has little in common with New York and it is simply absurd to call it “the New York of the South.” More like “the Houston of the Southeast.” I don’t even mean that as an insult—I like Atlanta. It’s simply a more apt comparison. And wtf is with the “there is a reason there are no old houses there”? There are plenty of old buildings in New York, so it doesn’t work too well with your comparison. That being said, I think 58 is simply afraid of black people. And if you are afraid of black people, you shouldn’t live in Atlanta.

Suzanne Feese email, please

"And if you are afraid of black people, you shouldn’t live in Atlanta. "

What and New York is black-free? Southern blacks have manners.

82 - There is a FAR greater proportion of black people in Atlanta than in New York. Atlanta is 57.3% African American and 38.6% White. It is one of the most African American cities in the country. I'm not bothered by being a minority in certain situations--something you get used to growing up in Atlanta. However, it is a sad fact that many white people are. It is something they just aren’t accustomed to. Moreover, I find it racist that you say that "Southern blacks have manners." I haven't noticed any significant difference in the black folks that I've met in the Northeast from the ones I've met in the Southeast.

The reason there are no old houses in Atlanta = Sherman

Friends:

I am no longer a KS partner or employee as of a couple of weeks ago. However, I will always be a member of the KS family in my heart. I am proud to have been associated with the firm for 21 years. KS is the only job I've had (other than my great career as a paper delivery person from ages 13-17, and summer jobs). The firm has changed greatly since I started on October 24, 1988, some for the better, some for the worse. I've been through three office buildings, lord knows how many managing partners and policy committees, and many comings and goings of friends from the firm. One constant positive from day 1 is my secretary. I don't think many KS attorneys have the privilege of having the same secretary for their entire careers, especially one so sui generis and excellent and professional and caring. I surely got lucky and am immensely grateful. I also send my thanks to the other income tax secretaries who have always been so supportive and work as a real team. I also send my heartfelt thanks to the many excellent staff people, top to bottom, with whom I've worked, particularly in recent years as PGL and Hiring Partner and all the many other things we've done together (partnership agreement, opening foreign offices, etc). I'm sure the firm's profitability will increase markedly now that I'm not there to drink countless cups of decaf coffee, but I will miss my daily 11 am meeting with our floor attendant who always, without fail, was there with my fresh pot of decaf ready to go and to enjoy a bit of conversation. As for KS lawyers, many of you are good friends and always will be. There is such immense talent at this firm, on par with the very best firms in the world, which is why I chose KS decades ago when I could have have gone anywhere. I dont regret the choice nor was I wrong about the standards of excellence and client service that the firm demands and delivers. I am confident KS will emerge from this unprecedented period of economic upheaval and law firm consolidation and implosion stronger than ever, and will remain a leading firm. I ask only that you try to adhere to the firm's values, which in recent years seem to be slipping away. Money means a lot, but it is not the most important thing at the end of the day, the week, the month, the year or your life. Your status as a KS lawyer/partner gives you two huge advantages: money and access. By access I mean opportunities to give back to the community and world in whatever way and form suits you. Being a KS attorney gets you in the door to places that equally competent and committed people are not invited because they dont have the "KS" seal of approval. Take advantage of this. Be generous with your time and resources. It can make a big difference as I've experienced in spades -- a very positive addition to life, especially when you are working really hard as we usually do (present times being an exception for some). Also, try to keep a sense of humor no matter what happens. I firmly believe being a great person and great lawyer are not incompatible, it just takes some focus and effort at times on both ends. As for me, have no idea what I will do, except that it will be something of value and interesting. Perhaps paid, perhaps not. Please stay in touch and I will try to do the same.

31 -- You are an idiot. K&S reduced salaries to 2008 levels minus $10K, annualized, in Atlanta. Alston froze salaries at 2008 levels 8 months ago and, in July, reduced salaries for the remainder of the year by $5K (which is the same as an annualized $10K reduction). Learn how to do math. Compared to A&B associates, K&S associates at least got the benefit of 8 months of 2009 salaries, before K&S brought the associates back to A&B levels. Thanks A&B.

King & Spalding Socked with $90k Discovery Sanction
This is one of those "think before you leap" lessons. Lawyer A says Lawyer B had obstructed discovery and misrepresented facts to the court. Judge says he's going to figure out who's telling the truth. He did so. Essentially, the court lambasted K&S's counsel for accusing Duane Morris's counsel of being uncooperative in discovery. The order in the patent infringement suit of CBT Flint Partners v. Return Path, No. 1:07-CV-1822 (N.D. Ga. Aug. 2008) is here:
http://www.dailyreportonline.com/Editorial/PDF/PDF%20Archive/Cisco-order2-081908.pdf
and the an article about it, is here:
http://www.law.com/jsp/article.jsp?id=1202423885428
Based upon my experience there, this is how they operate all of the time in all offices and in all practice areas - a cut throat, unprofessional, and, often, unethical law firm
Why would anyone in their right mind want to work at or hire King and Spalding ?

i heard a rumor that associates at KS who are willing to have sex with at least client will not have their salary reduced ?

can anyone confirm ?

does anyone have pictures ?

i heard a rumor that associates at KS who are willing to have sex with at least one client will not have their salary reduced ?

can anyone confirm ?

does anyone have pictures ?

i heard a rumor that associates at KS who are willing to have sex with at least one client will not have their salary reduced ?

can anyone confirm ?

does anyone have pictures ?

does bobby hays still wear those ugly cowboy boots ?

a shaved head looks kinda stupid on a white guy ...

Since KS makes graduates of St. Marys law school partners, they are a 4th tier firm - their associate salaries should reflect this ?

Since KS sets the standard, this is a great thing going forward. Clients should lower in house salaries by at least 10 to 15 %. People need to stop going to law school. If there are no other jobs in the U.S., people need to emigrate to other countries to find opportunities. This is how history has always worked when a great power goes into decline. The U.S. will fade like Great Britain did in the last century. You people need to learn Mandarin asap - Chine is the future. The U.S. is part of the past.

Suzanne Feese = Channeling the Bingham "Stepford Secretary," but with better grammar and syntax.

PE @ 34 is onto something. I heard of individual pay cuts of up to 40% at a large firm.

68 - Think again. Trace ti back to the administration which allowed the repeal of GLass-Stegall. THAT was teh decision that fostered the financial services meltdown.

Since KS sets the standard, this is a great thing going forward. Clients should lower in house salaries by at least 10 to 15 %. People need to stop going to law school. If there are no other jobs in the U.S., people need to emigrate to other countries to find opportunities. This is how history has always worked when a great power goes into decline. The U.S. will fade like Great Britain did in the last century. You people need to learn Mandarin asap - Chine is the future. The U.S. is part of the past.

Since KS sets the standard, this is a great thing going forward. Clients should lower in house salaries by at least 10 to 15 %. People need to stop going to law school. If there are no other jobs in the U.S., people need to emigrate to other countries to find opportunities. This is how history has always worked when a great power goes into decline. The U.S. will fade like Great Britain did in the last century. You people need to learn Mandarin asap - China is the future. The U.S. is part of the past.

Since KS sets the standard, this is a great thing going forward. Clients should lower in house salaries by at least 10 to 15 %. People need to stop going to law school. If there are no other jobs in the U.S., people need to emigrate to other countries to find opportunities. This is how history has always worked when a great power goes into decline. The U.S. will fade like Great Britain did in the last century. You people need to learn Mandarin asap - China is the future. The U.S. is part of the past.

Whatever happened to the KS partner in the Charlotte office that committed suicide ?

Who ended up with his clients ?

100 = Low Class

The $10K salary cut for the associates still employed by K&S pales in comparison to the first-years they laid off and the incoming associates they deferred until January with NO $$$. I'm not disputing that K&S has every right to do this, but morale in Atlanta has been shit for over a year. When the opportunity presents itself, those who can leave will.

102, don't hold your breath.

As a former K&S associate, I can honestly say this firm was the worst place I have ever worked at -- not just worst law firm, but worst workplace period. I thank God every day that I no longer work there or have to list them as my employer. The firm is grossly mismanaged, compounding repeated terrible decision-making with a dog eat dog culture (a bunch of independent contractors sharing space to reduce overhead) that makes the firm's touted "no jerk" policy look pathetic and ridiculous. I have painted my description of K&S with a broad stroke because although there are some good people at the firm, these few individuals are, unfortunately, not in positions of authority, so they are unable to control the wretched decisions made at the top. I would NEVER recommend this firm to any client, much less anyone looking to begin their career here.

I thought this article was about Sutherland, no?

Hey! King and Spalding doesn't allow comments about Sutherland on its blogs.

does anyone have pictures of the lesbian hiring partner ?

has she had sex with any clients ?

Most clients did not allow firms to raise rates in 2009. As I understand what this firm did, they gave a raise before the rate results came out., and the pay cut was back to 2008 levels, where clients are setting the rates.

104, which office?