We’re having major computer troubles once again. Please bear with us.
If we could post normally, we’d have already written about LeGal bitchslapping John Scheich, the juicy Wall Street Journal article on Sullivan & Cromwell’s troubles (aside from Charney v. Sullivan & Cromwell), and the latest round of associate pay raise announcements.
One of them is Shearman. Hopefully this post will go through (and just once, not twice). Here’s the memo:
From: Rohan S Weerasinghe
Sent by: Halle Schargel
To: [Classes of 2006 through 1994]
Cc: Worldwide – Partners Only
Date: 01/24/2007 11:29 AM
Subject: U.S. Track Associate Salary Increases
2007 Salaries
I am pleased to announce that in addition to the bonuses announced on December 14, 2006, we are increasing salaries for U.S. Track Associates to the following levels:
Class of 2006 - $160,000
Class of 2005 - $170,000
Class of 2004 - $185,000
Class of 2003 - $210,000
Class of 2002 - $230,000
Class of 2001 - $250,000
Class of 2000 - $265,000
Class of 1999 - $280,000
Class of 1998
and above - $290,000
These increases will be retroactive to January 1, 2007 and will be reflected in your February 15, 2007 paycheck. The increases will be paid to those Associates who are in good standing and with the Firm as of February 15. Increases for those Associates who were on a leave of absence, worked part-time or joined the Firm after January 1, 2007 will be prorated.
On behalf of all of my Partners, I want to thank each of you for your contributions, dedication and hard work and, together with your help, I look forward to another strong year.
Earlier: Previous announcements of law firm associate salary increases (scroll down through “Skaddenfreude” archives)
David Lat
Posts by David Lat
When President Bush delivered the State of the Union last night, Justice Ruth Bader Ginsburg was not one of the four Supreme Court justices in attendance.
Oddly enough, however, Justice Ginsburg and President Bush aren’t as far apart as one might think. They share something in common:
Both Justice Ginsburg and President Bush were cheerleaders!!!
President Bush’s career as a college cheerleader is well-known. But did you know that Justice Ruth Bader Ginsburg was a cheerleader too, at Madison High School, in Brooklyn, New York?
We are not kidding. More details available from Ted Frank. It goes without saying that we would LOVE a copy of that yearbook photo.
UPDATE: Alas, the link to Ted Frank’s blog no longer works. But you can read about Justice Ginsburg’s cheerleading career, as well as her other high school activities, over here.
Look, anything is possible. If little Olive Hoover (Abigail Breslin) can be a beauty pageant contestant, in Little Miss Sunshine — which just snagged Oscar nominations for Best Picture and for Breslin’s performance, among others — then surely RBG can be a cheerleader.
Justice Ginsburg, cheerleader [Lagniappe / Ted Frank]
We’re signing off for the night. It’s almost time for the State of the Union (9PM Eastern time). We won’t be back online until tomorrow morning.
Feel free to offer your thoughts on Biglaw compensation matters in the comments to this post. For ease of reference, here are the associate pay raise announcements that we’ve collected so far:
– Cadwalader, Wickersham & Taft
– Cleary Gottlieb Steen & Hamilton
– Milbank Tweed Hadley & McCloy
– Paul Weiss Rifkind Wharton & Garrison
– Sullivan & Cromwell
And, of course, the first mover who deserves credit for this largesse:
– Simpson Thacher & Bartlett
Enjoy the State of the Union, everyone. See you tomorrow.
(The Wonkette crew is liveblogging the SOTU. And don’t miss their SOTU Drinking Game, which will make President Bush’s speech twice as fun.)
Update (8:50 PM): A shout-out to the lawyers: Attorney General Alberto Gonzales is the Cabinet official who has been designated NOT to attend the State of the Union, to ensure the continuity of government in the event that disaster strikes on Capitol Hill tonight.
Earlier: Previous announcements of law firm associate salary increases (scroll down through “Skaddenfreude” archives)
As the WSJ Law Blog previously reported, Cleary Gottlieb has joined the club of law firms raising salaries for their associates.
One correspondent of ours at Cleary was pleasantly surprised by how quickly the announcement arrived:
I’m amazed that Cleary has been so quick to react to the change. Cleary is typically more lagging in upping salary in response to market change, but this year pulled it off within 48 hours. Color me impressed.
With apologies for the delay, as well as for various technical difficulties (which have resulted in some comments being posted multiple times), here is the memo:
The Simpson Bump: Everybody’s Doin’ It! [WSJ Law Blog]
Earlier: Previous announcements of law firm associate salary increases (scroll down through “Skaddenfreude” archives)
Apologies for the delay — server problems. Trust us, they’re frustrating us ten times more than they’re frustrating you.
With thanks to the various tipsters who sent it to us (including “Goose”), here’s the memo from Milbank Tweed announcing pay raises for their associates:
MILBANK TWEED HADLEY & McCLOY LLP
From: Wagner, Christine
Sent: Tuesday, January 23, 2007 5:12 PM
To: #Asia Associates All; #DC Associates; #LA Associates; #NY Associates; #LN Associates
Subject: Sent On Behalf Of The Executive Committee
MEMORANDUM TO ASSOCIATES – CLASSES 2006-1999 AND SPECIALS
Re: 2007 Salaries
We are pleased to announce salary adjustments as listed below:
Class of 2006 – $160,000
Class of 2005 – $170,000
Class of 2004 – $185,000
Class of 2003 – $210,000
Class of 2002 – $230,000
Class of 2001 – $250,000
Class of 2000 – $265,000
Class of 1999 – $280,000
These increases are retroactive to January 1, 2007 and will be reflected in February 15 paychecks for those who are in good standing and with us on that date.
2007 salary increases for Specials will be determined on an individual basis this quarter as usual.
We appreciate all your contributions and look forward to another great year.
THE EXECUTIVE COMMITTEE
Milbank
Christine Wagner
Director of Legal Personnel
Earlier: Previous announcements of law firm associate salary increases (scroll down through “Skaddenfreude” archives)
From an source at Sullivan & Cromwell:
I thought you and your readers would find it interesting to know that H. Rodgin Cohen gave a speech to the Firm yesterday regarding Charney v. Sullivan & Cromwell.
In his speech, Rodge denied every single allegation that “Andrew” made. That’s right, Andrew.
Apparently S&C investigation’s has been so robust that the Firm’s chairman still does not even know the plaintiff’s name.
This must be just another administrative oversight here at S&C.
Our take on this episode is a little different. We see it as compelling proof of the following:
As far as Biglaw partners are concerned, ALL ASSOCIATES ARE FUNGIBLE.
Even associates who sue your ass for discrimination and retaliation, giving rise to a public relations disaster.
Earlier: Skaddenfreude: S&C Says, “Charney Who?”
Prior ATL coverage of Charney v. Sullivan & Cromwell (scroll down)
Sullivan & Cromwell has followed suit. It has tried to distract everyone from the train wreck called Charney v. S&C just announced raises in base salaries for its associates. And its 2007 summer associates will share in the loot, too.
Here’s the memo, from firm chairman H. Rodgin Cohen, which was just sent out by email:
SULLIVAN & CROMWELL LLP
From: Cohen, H. Rodgin
Sent: Tuesday, January 23, 2007 3:59 PM
To: *Associates.Worldwide
Cc: Shenker, Joseph
Subject:
We are pleased to announce that, in addition to the bonuses awarded to lawyers at the end of last year, which ranged from $30,000 for the class of 2005 to $70,000 for the class of 1998, the Firm will be increasing associate compensation retroactive to January 1, 2007.
The new salary range will start at $160,000 for the class of 2006 and move up to $310,000 for the class of 1998. In accordance with our usual practice, each associate will receive individual notification of her or his salary.
In addition, annual base compensation will be increased to $160,000 for new associates arriving with the 2007 incoming class. The weekly compensation for the 2007 summer associate class will also be increased to be based on the new starting annual salary of $160,000.
The Firm is committed to rewarding our lawyers for their contributions to our continued success by maintaining compensation levels, including year-end bonuses, at the forefront of peer firm compensation.
Rodge
Update: According to this comment, the compensation figures for S&C’s most senior classes are as follows: class of 2000, $270K; class of 1999, $290K; and class of 1998, $310K. These amounts are higher than Simpson Thacher’s: class of 2000, $265K; class of 1999, $280K; and class of 1998, $290K.
Earlier: Previous announcements of law firm associate salary increases (scroll down through “Skaddenfreude” archives)
Thanks to everyone who sent this to us — and sorry for the delay in posting it. Here’s the CWT memorandum announcing pay raises for its associates.
CADWALADER, WICKERSHAM & TAFT
From: Link, Robert
Sent: Tuesday, January 23, 2007 3:26 PM
To: MAIL-NY_ASSOCIATES; MAIL-DC_ASSOCIATES
Cc: MAIL-NY_PARTNERS; MAIL-NY_COUNSEL; MAIL-DC_PARTNERS; MAIL-DC_COUNSEL; Freeman, Claudia; Ellis, Patricia; Wallsh, Mitch; Sekler, Mitchel; Pinkerton, Dyana
Subject: 2007 Compensation
In keeping with our pledge to provide compensation that is competitive with the other leading law firms in our markets, we will increase associate base salaries in New York and Washington effective January 1, 2007 as follows:
Class of 2006 – $160,000
Class of 2005 – $170,000
Class of 2004 – $185,000
Class of 2003 – $210,000
Class of 2002 – $230,000
Class of 2001 – $250,000
Class of 2000 – $265,000
Class of 1999 – $280,000
We are also raising the base salary for the members of the Class of 2007, who will arrive in the fall, to $160,000. Thank you for your hard work and efforts on behalf of the firm.
Earlier: Previous announcements of law firm associate salary increases (scroll down through “Skaddenfreude” archives)
That’s what a number of you said in comments.
And then we were emailed this memo (which we have verified with multiple sources at Paul Weiss, so we vouch for it 100 percent):
PAUL WEISS RIFKIND WHARTON & GARRISON
We are pleased to announce that we have increased associate compensation effective January 1, 2007 as follows:
Class / 2007 Base Salary
2006: $160,000
2005: $170,000
2004: $185,000
2003: $210,000
2002: $230,000
2001: $250,000
2000: $265,000
1999: $280,000
1998 and senior: $290,000
We are very appreciative of your hard work and dedication. The increases will be reflected in your February 15, 2007 paycheck. We expect to determine the bonus portion of your 2007 compensation near year-end as usual.
*****************************
As you can see, these numbers are completely consistent with the new base salaries announced yesterday by Simpson Thacher. Any firm that wants to play in the same league as PW and STB will have to ante up.
Congratulations to the Paul Weiss and Simpson Thacher folks!
Earlier: Breaking: Simpson Thacher Raises Associate Base Salaries!!!
Skaddenfreude: Who Has Matched Simpson?
- Celebrities, Margaret Carlson, Media and Journalism, Movies, Parties, Pictures, Seth Waxman, Stephen Breyer, Television, The Week Magazine
Movie Night With Justice Breyer (Part 1)
By David Lat
Poor Justice Breyer — he’s totally trapped! (But nice necktie, Your Honor. Is it Hermes?)
Supreme Court justices: They’re just like us. They get cornered at cocktail parties by matronly women they don’t really know.
And no, that’s not Beverly D’Angelo, aka Barbara “Babs” Miller of Entourage. We wish.
But yes, that is the Washington Post’s Dan Froomkin — FROOMKIN!!! — over her shoulder, on the far right.
*****************************
Last week, we attended a movie night with Justice Stephen G. Breyer, sponsored by The Week magazine. It was held at the Phillips Collection, an amazing modern art museum here in Washington, DC. We were treated to cocktails and dinner, followed by a screening of The Third Man — Justice Breyer’s cinematic selection.
Photographs, plus brief commentary, after the jump.
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