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salary cuts

Revenue and Profits Down at Goodwin Procter

Goodwin Procter's gross revenues fell 4% in 2009 to $658 million and per partner profits dropped 3% to $1.27 million.…

Merit Based Pay at Drinker Biddle

Drinker Biddle is moving to a merit based pay system, becoming the latest in a string of major law firms…

Layoffs at Seyfarth Shaw

Seyfarth Shaw is letting go of approximately 40 people, 20 lawyers and 20 staff. It's been rough over at Seyfarth…

Morning Roundup

Good morning everyone! Today is Thursday, January 14, and here's a quick look at yesterday's news... The Supreme Court ruled…

Salary Cuts at Kaye Scholer

Kaye Scholer is cutting first year associate salaries to $145k, but unlike many other firms they aren't doing it under…

Salary Cuts and Merit Based Compensation at McDermott Will & Emery

McDermott Will & Emery is moving to a merit based compensation system beginning in 2011. Like several other merit based…

Morning Roundup

Good morning! It's Friday, January 8, and here's a peek back at yesterday's stories... Two firmsin the Carolinas have merged...…

Holland & Knight is the Next to Abandon Lockstep

I think it's time for some new terminology. Lockstep compensation referred in the past to associates moving up in pay…

Seyfarth Shaw Abandons Lockstep

Like many firms before it, Seyfarth Shaw is abandoning lockstep starting in 2011. Details haven't been released, not even to…

More Bonus News – And it’s a Little Different

Two more firms have announced their bonus schedules and they're a bit different from the Cravath scale. Sullivan & Cromwell…

Chadbourne & Parke Restoring Salaries

In April, Chadbourne & Parke cut associate salaries and promised that some or all of the money would be returned…

Sutherland Ditches Lockstep

Atlanta based Sutherland is joining the rush to abandon lockstep compensation and is moving to a merit based system similar…