Things haven’t been easy for Bryan Cave and its associates during this recession. But today is a good day. There is no need for an A.K.
Last night, we received word from tipsters that BC associates across most of the firm’s offices will be told that they are getting a raise:
Bryan Cave announced to associates that associates will be getting a pay raise effective august 1 and another at the “normal” pay raise date of January 1.
Our sources tell us that associates in all U.S. offices, and London, will receive a raise.
However, the salary bump will not affect first years. The BC starting salary will remain at $145K in Chicago.
The amount of the raise will obviously vary by office, but we’ve got some information for the Chicago people…
Our tipsters report that 2nd years at BC-Chicago will go up to $150,000 a year, while 3rd years will go up to $155,000 a year.
But if you put this raise in context, you remember that Bryan Cave isn’t a “Chicago firm” like K&E. And you’ll remember that it really has been tough going for Bryan Cave recently. A couple of weeks ago the firm deferred it’s incoming class until 2012. They’ve had layoffs and salary cuts. In the grand scheme of things this raise — even if it isn’t back to market — is really a good thing.
Maybe that exorcism conducted at the firm’s Phoenix office really did the trick?