Mystery Meeting at Sidley Austin: Today at 2:00 p.m.

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On December 30th, 2008, Sidley Austin froze associate salaries. At the time, the firm said:

Given the current uncertainty in the economy and financial markets, and the impact on law firms, we are still in the process of evaluating associate salary levels for 2009. We expect to make a decision on this issue sometime during the first quarter of next year.

Well, here we are, in the first quarter of 2010, and Sidley’s associate salaries remain frozen in place.
But maybe that is about to change? Multiple tipsters report that Sidley is holding an all-associates town hall today. The scuttlebutt is that associate salaries are on the docket, and the firm-wide memo announcing the meeting also specifically states that salaries will be discussed:

You are invited to attend a meeting on Friday, January 15, 2010 at 2:00 pm EST to report on year-end results, U.S. associate salaries, and other matters.

Could this be good news? Sidley has done it before. Despite laying off 229 people back in March, Sidley hasn’t been the kind of shop where morale goes to die during the recession.
But our tipsters expect the worst. Details after the jump.


Instead of announcing raises, or true-up raises, most of our tipsters expect Sidley to announce a salary freeze extension. One of our sources puts it like this:

Sidley is about to screw my 2000+ hour billing ass out of a raise for the second year in a row. In response I plan to take it and like it and desperately search for another job.

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Other tipsters have been looking at the paychecks that were just deposited into their accounts. They don’t see any extra bank.
But one tipster has a more positive outlook about today’s meeting:

Look, they’re not going to call us all together to announce they are screwing us yet again. They don’t want a riot on their hands. I’m not expecting a double up, but at least a one level raise is the most likely outcome.

Do you believe in Sidley raises? If so, I want you to clap your hands! I can’t hear you. If every Sidley associate starts clapping their hands really, really loudly, from now until 2:00 p.m., I’m sure the firm will raise salaries. I just know it!
Earlier: Nationwide Pay Freeze Watch: Sidley Delays Raises Until ‘Sometime’ in 2009
Sidley D.C. Wants Some Incoming Associates to Start … Early!
Nationwide Layoff Watch: Sidley Austin Cuts 229 At Least

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