Salary Freeze
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Biglaw, Salary Freeze, Stroock & Stroock & Lavan
Biglaw to Associates: 'Surprise! Your salary is frozen'?
We’ve been reporting on the Biglaw salary freeze heavily over the past month. Earlier this week, we did a round-up of firms that had announced their intention to keep 2009 salaries at 2008 levels. At that point, we knew of sixteen firms that had sent memos to their associates notifying them that raises were not […] -
Arnold & Porter, Biglaw, Dorsey & Whitney, Salary Freeze, Sheppard Mullin, Sonnenschein, Venable
ATL Salary Freeze Round-up: The Firms on Ice
The new year is shaping up to be a cold one. As we noted in our 2008 Year in Review series, one of the biggest stories heading into 2009 has been that of the salary freeze. Rather than instituting lock-step raises for associates entering a new class year, a number of firms have informed associates […] - Sponsored
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2008 Year in Review, Dissolution, Salary Freeze
Top Biglaw Stories: #3 & #2 (Business)Firms that Froze & Firms that Melted
Bad things happened in the business of Biglaw in 2008. Some people are still so scarred by the experience that they’d just as soon pretend last year never happened. But the events that transpired in 2008 could have ramifications for the legal industry for a long time. Our third-place story is the Biglaw salary freeze. […]
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Associate Bonus Watch 2008, Salary Freeze, Sonnenschein
Sonnenschein: Top Bonuses For Top Performers, Salary Freeze For All
Sonnenschein is the latest firm to adopt a creative approach to associate compensation during the financial crisis. The firm announced bonuses that can go much higher then their peer firms, but also announced a salary freeze. First the bonus news: We are pleased to announce that Associate productivity bonuses for 2008 range from $10,000 to […] -
Salary Freeze, Sheppard Mullin
Nationwide Pay Freeze Watch: Sheppard Mullin Joins California Craze
Another day, another firm, another salary freeze. The latest is from Sheppard Mullin: We feel it is critical to rigorously control expenses during these times. As part of our management of expenses, we have decided to “freeze” Associate compensation for 2009. This means your base compensation will be the same as in 2008. Special Counsel […] -
Associate Bonus Watch 2008, Salary Freeze
Nationwide Pay Freeze Watch: DLA Piper
DLA Piper’s associates received an e-mail today at 4 p.m. about bonuses. The memo says less about bonuses though than it says about 2009 salaries. (Bonus decisions will be made later in January, as they were last year.) The salary decision for 2009? Another major firm is getting its freeze on. Here’s an excerpt from […] -
Arnold & Porter, Associate Bonus Watch 2008, Salary Freeze
Nationwide Pay Freeze Watch: Arnold & Porter & Scarlett O'Hara Decide 'I'll Think About it Tomorrow'
Just before Christmas, Arnold & Porter sent around an intriguing memo. The firm refused to make any decisions regarding pay in New York at all in 2009: Associate Bonuses for Associates in All Offices Except in New York Those of you who met the previously announced thresholds and other criteria for 2008 bonuses will be […] -
Salary Freeze
Nationwide Pay Freeze Watch: Sidley Delays Raises Until 'Sometime' in 2009
Sidley Austin just emailed all of their associates to wish them a happy New Year. How nice. How thoughtful. How … oh wait a minute. The firm also took the opportunity to inform all associates that their pay raises would be delayed until sometime next year. The firm-wide memo from Sidley is short and to […] - Sponsored
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Associate Bonus Watch 2008, Salary Freeze
Nationwide Pay Freeze Watch: Orrick follows Latham
The latest news from Orrick, Herrington & Sutcliffe will make Latham & Watkins associates feel marginally better. There is now another major firm freezing associate salaries: After careful consideration, we have decided that associates in the US and Europe , and associates, senior consultants and consultants in Asia , will receive the same salary in […] -
Dorsey & Whitney, Salary Freeze
Nationwide Pay Freeze Watch: Dorsey & Whitney
I hope that a jolly Turkish Saint brought Dorsey & Whitney associates something spectacular for Christmas. Because a pay raise was certainly not one of their stocking stuffers. A memo went out to Dorsey& Whitney associates on December 23rd explaining the bad news: Management and staff have just completed the 2009 forecasting and budgeting process. […] -
Salary Freeze, Venable
Nationwide Pay Freeze Watch: Venable
The 2009 salary freeze is steadily spreading through the bottom half of the Vault 100 firms. Yesterday, Venable held a firm-wide meeting to discuss bonuses and salary. Our tipster reports that Venable is hopping on the crowded pay freeze bandwagon. Looks like we’re paying out “normal” bonuses (i.e. well below market) to those who billed […] -
Salary Freeze, Skaddenfreude
Latham & Watkins Salary Shenanigans Follow-Up
Maybe Latham & Watkins was never into this whole “____ to $160K” thing to begin with. When Latham finally raised salaries across the board back in May 2007, we reported: Well, it appears that Latham has been shamed into giving into the “hysteria” surrounding associate comp. As we’ve discussed, Latham’s associate salary freeze essentially cancels […] -
Money, Salary Freeze
Nationwide Pay Freeze Watch: Reed Smith Does The Obvious
While the Latham & Watkins salary freeze came as a shock to most in the Biglaw community, Reed Smith associates have known for days that their salaries would remain frozen in place. Reed Smith laid off 115 people two weeks ago. Individual salary memos started going out to the remaining Reed Smith associates last week […]
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Money, Salary Freeze, Skaddenfreude
Nationwide Pay Raise Freeze Watch: Latham & Watkins
If you liked your 2008 salary, you’re going to love your 2009 salary. Latham & Watkins just sent around this email about 2009 associate compensation: The world economy is experiencing unforeseen and unprecedented dislocations. Our clients are feeling those impacts and the legal community is not immune. The Executive Committee has spent the last few […] -
Money, Salary Freeze
A Mystery Memo from Squire Sanders(Or: The hot new trend of associate pay freezes.)
The memo below was sent to us by a tipster, with this prefatory comment: “No one really knows what the f*** the second half of the first sentence of the memo means.” So, dear readers: What does this language mean? The most literal interpretation is that Squire Sanders will resist associate pay raises in 2009 […] -
Midsize Firms / Regional Firms, Money, Salary Freeze
Nationwide Pay Freeze Watch: Womble Carlyle Bows to Southeast Economy
While woutheastern United States Senators are busy making the world safe for Toyota, southeastern law firms are busy just trying to survive. The latest bad news comes the 132-year-old law firm Womble Carlyle. The North Carolina-based firm has decided to freeze salary increases for all attorneys through the first half of 2009 at least: In […] -
Money, Salary Freeze, Skaddenfreude
Bryan Cave Delays Associate Pay Raise By Three Months
When we last saw Bryan Cave, the firm was busy acquiring Powell Goldstein, and saying great things about their long-term future and financial health. Having just added so many new attorneys, the message ATL received this morning was surprising. Two pieces of news for Bryan Cave associates today: they’re deferring salary increases by three months […]