It looks like Pillsbury is back to communicating important information via firm-wide memo, instead of via cell phone conversation on the Acela. Yesterday, the firm indicated that it is thinking about moving away from lockstep associate compensation, but it is not killing lockstep just yet.
Instead, Pillsbury announced lockstep raises — they’ll be true up raises if you hit your hours in New York. In other offices, Pillsbury has decided to lowball the market. From the firm-wide memo:
So, it’s a true-up raise for some, a single class thaw out for those low on hours, and a salary cut for many outside of New York. But at least it’s clear.
Pillsbury’s New York bias when it comes to salaries extends to the firm’s decisions regarding bonuses. Details after the jump.
Pillsbury is matching the Cravath bonus in New York. Elsewhere, Pillsbury is saving money where it can:
All of this is pretty standard stuff. But when Pillsbury tries to peer into the future, things get dicey.
Dear Pillsbury associates, giving 100% is no longer enough. You must “take it to the next level,” “go the extra mile,” give 110%! You’re the best around. Nothing’s gonna ever keep you down.
Sorry, more future-talk from Pillsbury:
Well, count Pillsbury in the overwhelming majority of Am Law and Vault 100 firms that are sticking with lockstep. So long as Pillsbury associates keep trying harder than humanly possible.