To: All U.S. Associates
Cc: All Partners
Subject: Associate Salaries
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To All Partner Track U.S. Associates Level 8 and Below,
As part of an ongoing review of our associate compensation system, in May the firm adopted a nationwide associate salary schedule for associates with satisfactory performance for all of our domestic offices. This schedule recognizes that our associates, regardless of office, support clients across the firm. We are updating the nationwide schedule to reflect current market conditions as set forth below. The effective date for the increases will be August 1, the same date as the effective date for the merger with Thompson & Knight. Because of the timing of the merger and a number of other related factors, while the increases will be retroactive to August 1, the actual date on which payment will occur will be delayed until on or about September 30. This delay will enable the firm to ensure that associates and other impacted senior counsel and advisors, from both firms are treated in a consistent manner, allow for appropriate individual communication, and finalize financial matters associated with the merger.
| U.S. Associates | |
| Level | Salary |
| 1L | $205,000 |
| 2L | $215,000 |
| 3L | $240,000 |
| 4L | $275,000 |
| 5L | $305,000 |
| 6L | $330,000 |
| 7L | $350,000 |
| 8L | $365,000 |
As stated in our May announcement, more experienced associates, senior counsel, and advisors, will be reviewed on an individual basis. Additionally, we will continue our review of our system to reflect changes in remote working policies, overall performance expectations, our annual associate bonus program, and other related policies in order to remain competitive with our peer firms.
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Thank you for all that you are doing to enable us to provide exceptional service to our clients. We acknowledge the challenges you have faced over the past 16 months, and appreciate your extraordinary contributions to the firm, our clients, and our communities.
Steve
Steven Sonberg | Holland & Knight
Managing Partner
Holland & Knight LLP
701 Brickell Avenue | Miami FL 33131