It looks like the game of salary chicken between Mayer Brown and Sidley Austin is just about over. On Monday we noted that Mayer Brown was taking its time to let associates know whether or not their salaries will be re-frozen. Today, Mayer Brown’s D.C. office announced that salaries will be raised back to market levels — a true-up raise for associates at the firm. (We also hear that true-up raises on coming out for New York, but we haven’t seen that memo.)
Bonuses are still to be determined, so we don’t know if Mayer will include a make-whole provision to get people back the money they lost while their salaries were frozen in place.
Still, it’s great news.
Are there other firms that Sidley is waiting for? Jenner? Winston? Bendini Lambert & Locke? Come on, the salary market for top tier firms has been re-set at pre-2009 levels. Some would argue that the salary market for true top tier firms never changed in the first place. Sidley needs to get off it’s horse.
Congratulations to Mayer Brown. Now, about that bonus…
Check out the Mayer Brown salary memo after the jump.