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McKenna Long & Aldridge is cutting starting salaries for entering first-year associates by $20,000.
In 2007, McKenna moved to a merit-based promotion system. An associate’s compensation & billing rates are based on competencies, rather than on the year of their graduating class.
The firm has not deferred its incoming classes; nor has it announced any layoffs since the global economic meltdown began.
Atlanta-based McKenna, Long & Aldridge LLP was ranked the 100th largest law firm in the country by the National Law Journal in 2007. The firm also ranked 141st in profit per attorney on the 2007 AmLaw 200 survey.
