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San Francisco, California’s Howard Rice cut all associate salaries by 10% last month.
Incoming associate salaries were cut from $160,000 to $145,000. Fourth-years now make $170,000, and seventh-years make $225,000.
The firm says it is just bringing its salaries into line with competitors like Morrison & Foerster, DLA Piper and O’Melveny & Myers.
Howard Rice froze its billing rates 18 months ago.
Founded in 1954, Howard Rice Nemerovski Canady Falk & Rabkin employs almost 100 lawyers.
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