PRYOR CASHMAN MEMO
We are pleased to announce that we will adjust associate salaries by $20,000 increases in each associate’s annual rate, effective July 1, 2016 (There are a few exceptions for associates who are not employed on a regular track.) Annual increases will follow the pattern introduced last year.
As a mid-sized firm, we have thrived with a different business model than much of BigLaw. We have grown the firm by staking our ground with mid-market clientele and by attracting work from larger firms because of the competence and value we provide in legal services. We do not depend on high leverage, and we offer a highly competitive fee structure. But we take the most pride in the quality of the services we provide, on which our success is ultimately based. Your essential role in the delivery of high quality and efficient legal services merits this recognition.
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If anyone has any questions about the application of this increase to their circumstances, please let Foued Hentati or me know.
Ronald H. Shechtman