Lawyer Pay

Labor Lawyer Says He Can’t Save, Sees Retirement as ‘Scant Possibility’

A blogging employment and labor lawyer from Chicago doesn’t think he’ll ever have enough money to retire. And he’s OK with that. Tim Eavenson, who co-authors the blog Current Employment, says in a commentary for American Public Media that “retirement is a scant possibility for me.” Eavenson has no savings…

Jan 5, 2009 3:59 PM CST

Orrick, DLA Piper Warn Associates of a 2009 Pay Freeze

Two more law firms have released memos giving associates some bad news: Their pay will be frozen in 2009. Orrick, Herrington & Sutcliffe and DLA Piper announced pay freezes last week, according to Above the Law. The blog obtained copies of memos explaining the decision. Orrick cites a “radically changed…

Jan 5, 2009 12:44 PM CST

Denver DA Would Get $62K Pay Raise Under Council Proposal

Denver District Attorney Mitch Morrissey would get a 43 percent pay raise totaling more than $60,000 over the next four years under a proposal being considered by the city council. Morrissey makes $145,000 a year and hasn’t gotten a raise in four years, the Rocky Mountain News reports. The proposal…

Dec 23, 2008 2:16 PM CST

Dechert Bonuses Include Billable Hours Sweetener of Up to $22.5K

At first glance, Dechert’s year-end bonuses for associates appear to mirror the market rate, starting at $17,500 for 2007 associates who bill at least 1,950 hours and topping out at $32,500. But Dechert has included a billable hours sweetener that could reach $22,500 for top-billing associates. The firm will pay…

Dec 23, 2008 1:14 PM CST

Dreier’s Extravagant Lifestyle: ‘Dazzling’ Homes and $200K Secretaries

Some colleagues of indicted lawyer Marc Dreier, accused of stealing $380 million from hedge funds in investors, believe his alleged crimes may have been driven by a need to support an extravagant lifestyle and the aggressive expansion of his law firm. The Wall Street Journal (sub. req.) spoke to the…

Dec 19, 2008 2:39 PM CST

S&C Halves Year-End Associate Bonuses, But Plans More in April

Sullivan & Cromwell has followed the lead of several large law firms and cut its year-end bonuses to half that paid last year. Year-end bonuses will range from $17,500 for first-year associates to $32,500 for those with eight years of experience, the American Lawyer reports. S&C is usually one of…

Dec 19, 2008 1:39 PM CST

No Grinch at Skadden: Bonuses are $35K to $65K, Blog Says

As other law firms lay off attorneys, cut year-end bonuses and even announce a salary freeze, one BigLaw firm reportedly has announced bonuses that should make this a happy holiday season for its own associates. Skadden Arps Slate Meagher & Flom will give its associates year-end bonuses of between $35,000…

Dec 18, 2008 11:24 PM CST

A&O Halves Year-End Bonuses for US Lawyers; Only $17.5K to $32.5K

Joining a growing list of law firms that have significantly cut year-end bonuses for associate attorneys, London-based Allen & Overy has announced that its bonuses this year for those in its U.S. offices will be only about half of what they were last year. American associates working for the Magic…

Dec 18, 2008 5:48 PM CST

Associates See Silver Lining in Salary Freeze

Some associates aren’t dismayed by predictions that a salary freeze at one large law firm could be the start of a trend. In fact, the associates may be somewhat relieved, according to one lawyer recruiter. Associates may see a salary freeze as an indication that their jobs will be safe,…

Dec 18, 2008 4:34 PM CST

Judge Questions Dewey Fee Application Seeking About $100K a Day

A federal judge is seeking more information on a $2.1 million fee application by Dewey & LeBeouf that breaks down to about $100,000 a day in attorney fees. U.S. District Judge Denny Chin asked for more information on the application by Dewey partner Timothy Coleman, who is the receiver for…

Dec 17, 2008 2:55 PM CST

More Law Firms Likely to Freeze Associate Salaries, Consultants Say

Latham & Watkins may be the first large law firm to confirm it is freezing associate salaries, but it probably won’t be the last. One law firm that hasn’t ruled out a pay freeze is Arent Fox, reports The BLT: The Blog of Legal Times. Chairman Marc Fleischaker told the…

Dec 17, 2008 1:45 PM CST

Latham’s ‘Prudent Business Strategy’: Pay Freeze for Associates

Latham & Watkins is freezing pay for associates as part of a “prudent business strategy.” Latham chairman and managing partner Robert Dell issued a statement today that confirms the freeze, reports The BLT: The Blog of Legal Times. Beginning in 2009, all first- and second-year associates at Latham will earn…

Dec 16, 2008 6:32 PM CST

Ratner Prestia Announces Rate and Salary Freeze

Another intellectual property law firm is holding the line on billing rates. Ratner Prestia will freeze all of its lawyer billing rates for at least six months, the Philadelphia Business Journal reports. The firm will encourage billing alternatives such as fixed fees. The Philadelphia-based firm has also frozen lawyer salaries,…

Dec 12, 2008 5:05 PM CST

Strong Law Firms Stress Productivity Above Collegiality, Consultant Says

Many partners will pick collegiality as the most important element of a strong law firm culture. But a consultant whose firm advised two dissolving law firms would disagree. Peter Zeughauser lists four essential ingredients of a strong law firm culture, and collegiality isn’t among them. His article in the American…

Dec 11, 2008 4:38 PM CST

Auto Bailout Bill, Passed by House, Includes $5K Hike for Judges

A $14 billion bailout bill passed by the House on Wednesday evening would benefit judges as well as the auto industry. The bill includes a cost of living hike for judges of almost $5,000, the Associated Press reports. Trial judges now earn $169,300. The bill would raise their pay to…

Dec 11, 2008 12:02 PM CST