Associate Bonus Watch 2009, Associate Salaries, Killing Lockstep, Money, Salary Freeze

Pillsbury: Raises, Bonuses, and Other Sundries

Pillsbury logo.JPGIt 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:

Pillsbury salary bonus 2010 1.JPG

Pillsbury salary bonus 2010 2.JPG

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:

Pillsbury salary bonus 2010 3.JPG

All of this is pretty standard stuff. But when Pillsbury tries to peer into the future, things get dicey.

Pillsbury salary bonus 2010 4.JPG

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:

Pillsbury salary bonus 2010 5.JPG

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.

Earlier: A Funny Thing Happened on the Way to New York

(hidden for your protection)

comments sponsored by

Show all comments