Law Practice Management
Minn.'s Gray Plant Mooty Temporarily Cuts Associate Pay By 10 Percent
Minneapolis-based Gray Plant Mooty tried to hold the line on associate pay cuts.
But, beginning next week, its associate salaries will be reduced by 10 percent for the rest of the year, reports the Pioneer Press. First-year associates start at about $120,000, so even after the July 1 pay cut, they will still be making six-figure annual salaries.
Dorsey & Whitney announced a similar pay cut earlier.
“Market rates are very important for attracting and retaining the very best associate attorneys,” says Tamara Olsen, the managing officer of Gray Plant Mooty. “Now we feel there’s been enough change in the market. We feel it’s the right time.”
