59=Latham partner.

How is associate morale at Latham after the salary freeze? Will Latham keep its coveted spot on the Amlaw A-list?

Didn't Bob Dell just tell us "no layoffs"? That Latham learned its lesson in the 90s? That they wouldn't make that mistake again? There are no promises now. Circumstances have changed, we are told.

Does the "no layoffs" pledge coupled with the salary freeze, which no other major firm is following, reassure the junior associates at Latham & Watkins?

I think this is representative of the mood:

"I just started at LW in September, and I don't feel safe at all, especially after 1st years getting canned at Proskauer and now Gunderson.

I've already started sending in resumes to government agencies and smaller law firms, but my prospects are horrid ITE with little to no experience.

I was hoping for at least a year so I could make a sizeable dent in my loans, but I think that is wishful thinking at this point"

"I am a stub at Latham too but started in October. Scared shitless. Everyone here is running scared, but we are running at 60-70% pace. I am hoping to make it through mid year next year. The freezing salaries to put off lay-offs seems like most cost cutting bullshit."

Is is freezing salaries to put of lay-offs? Or is it freezing salaries, then laying off associates?

http://www.xoxohth.com/thread.php?thread_id=900618&mc=191&forum_id=2

Stay tuned...

Yeah, please do not go to Latham. In fact, don't go to any law firm. There's way too many lawyers right now. Learn a good honest trade like bricklaying or something.

Are Latham associates ready for 2009?

Exclusing first years, whose salaries are impossible to freeze, Latham associates will be paid on average over $17,000 less in 2009 than their peers at other firms.

Latham 2nd Year: $10,000 less than peers
Latham 3rd Year: $15,000 less than peers
Latham 4th Year: $25,000 less than peers
Latham 5th Year: $20,000 less than peers
Latham 6th Year: $20,000 less than peers
Latham 7th Year: $15,000 less than peers
Latham 8th Year: $15,000 less than peers

Average=$17,142 less than peers

Hardest hit are mid-level associates in the 4th-6th years. In fact, a fourth year associate at Latham in 2009 will now make $5,000 less per year than he or she would have before the latest pay increases went into effect in 2007.

So, for those of you who have a job in 2009, first be thankful that you aren't laid off (yet); and second, be thankful that you aren't an associate at Latham.