Lawyer Pay

Hogan & Hartson Lays Off 93 Staff, Cuts Some Associates’ Pay

Updated: After a February buyout offer failed to attract enough volunteers, Hogan & Hartson announced today that it is laying off 93 staff members in its United States offices. Their last day will be tomorrow, the firm’s executive committee explains in an internal memo published by Above the Law. “This…

Apr 2, 2009 5:17 PM CDT

NYT: It’s Time to Rethink the Legal Profession

In an opinion piece published today, the New York Times leaves little doubt that there are changes afoot in the legal profession. Massive, paradigm-shifting changes. Amid bursts of unprecedented layoffs and firm closures, young associates are finding themselves with six-figure student loan debt and no source of income. But the…

Apr 2, 2009 11:40 AM CDT

Cutting To The Chase

Is it time to start chopping your rate?

Apr 2, 2009 12:30 AM CDT

Looking for Alternative Work? Expect a Pay Cut, Experts Say

More than 100 lawyers thinking about leaving the law packed a meeting of the New York City Bar Association last night. Panelists offered helpful suggestions about building up alternative skills that could lead to careers outside of law practice. But career-switchers should expect to make significantly less money, at least…

Apr 1, 2009 8:13 PM CDT

LA Firm Cuts Associate Pay, an Indication of Cracks in Lockstep Pay Model?

Salary reductions at the Los Angeles-based Am Law 200 firm Allen Matkins may mean fewer layoffs. But is it also a sign that cracks are showing in the lockstep compensation model for new associates? That’s the argument of the Recorder, which reports that three Am Law 200 firms have now…

Apr 1, 2009 10:40 AM CDT

Stroock Laying Off 10% of Associates & Staff; Fried Frank Axes 99

After a law firm layoffs lull for several weeks, it appears that the pace may be picking up again. Stroock Stroock & Lavan has just announced that the firm will be laying off 10 percent of its associates and staff, reports Above the Law, based on information from an unidentified…

Mar 30, 2009 7:47 PM CDT

Skadden Cuts Staff Attorneys and At Least 25 Other Staff

In better economic times, Skadden Arps Slate Meagher & Flom had enough work to keep a cadre of staff attorneys busy. But now, after an earlier layoff of some staff attorneys in January, Skadden is reportedly wielding the ax again. The firm is cutting an unknown number of staff lawyers…

Mar 28, 2009 1:04 AM CDT

Gibson Dunn Lays Off 36; Weil Gotshal Cuts Summer Program, Defers 1st-Years

In the latest of a continuing stream of law firm cutbacks, two well-known law firms have announced new economy measures. Gibson Dunn & Crutcher will be eliminating 36 staff positions throughout its nine offices, the firm says in a written statement provided to Above the Law today. “While this is…

Mar 27, 2009 8:18 PM CDT

After Early March Mayhem, Law Firm Layoffs Slow: Month’s Total Nears 3,500

It appears that the worst might possibly be over, both for the struggling global economy and the ever-increasing number of major law firms that have been laying off support staff, associates–and even partners–in record numbers. Although law firm layoffs continue–Thursday’s tally included some 234 people let go at four well-known…

Mar 27, 2009 4:54 AM CDT

Top Google Lawyer Earned More Than You in 2008

Google’s chief legal officer made a salary of $450,000 last year, but the number is misleading. The pay check for top lawyer David Drummond dwindles in comparison to his total compensation of $5.12 million for the year, which includes a $1.38 million bonus and $3.29 million in stock and option…

Mar 26, 2009 6:26 PM CDT

Partner Pay Cuts are New Signpost in Dismal Law Firm Economic Landscape

Associates and staff were low-hanging fruit waiting to be cut in law firm layoffs. Start dates for new attorneys have been delayed, salaries have been frozen and benefits formerly taken for granted have been axed. At least one well-known law firm has even reduced the coffee service offered at its…

Mar 24, 2009 7:49 PM CDT

New Concierge Service Caters to ‘Time Poor, Cash Rich’ Lawyers

Lawyers feeling the heat to work longer hours to generate business as the economy continues to slide have a new ally in their corner—one that will stock the fridge, shuttle children to soccer practice, and even bring chicken soup should the flu strike. Legally Organized, billed as the first legal…

Mar 24, 2009 5:17 PM CDT

Lawyers, Staffers and Pay Cut at Goldberg Kohn; Saul Ewing Also Has Layoffs

Two more law firms have announced associate and staff layoffs, and one of them is also reducing pay. Midsized Chicago firm Goldberg Kohn has laid off nine associates and 14 support staffers, the National Law Journal reports. Those left behind will taking pay cuts that vary based on the individual.…

Mar 24, 2009 1:12 PM CDT

UK Regulatory Lawyers Ascendant: Hourly Fees Reach $1440

Move over, M&A lawyers. There’s a new lawyer in demand in the United Kingdom, with record-breaking rates to prove it. Regulatory lawyers are now on top, charging fees as high as 1,000 pounds an hour—translating to $1,440, Bloomberg reports. Darren Fox is a regulatory lawyer with Simmons & Simmons who…

Mar 23, 2009 1:08 PM CDT

DLA Piper Will Cut Pay for Most Partners by 11.5 Percent

Most partners at DLA Piper will see pay cuts of 11.5 percent this year, but a few of its superstars will earn more. The move comes after Dewey & LeBoeuf announced about a week ago that it had chopped the pay of 66 partners over the past 15 months. Law…

Mar 23, 2009 11:45 AM CDT