Schnader Harrison, Alston & Bird Announce Pay Cuts

Law360, New York (July 1, 2009, 12:00 AM EDT) -- With law firm pay cuts becoming a near-daily occurrence, Schnader Harrison Segal & Lewis LLP revealed Wednesday that it would be slashing salaries across the board for all associates and partners, while Alston & Bird LLP opted to trim $5,000 from associates' pay.

On Wednesday, Philadelphia-based Schnader confirmed that it would be cutting $10,000 dollars from associate salaries — while partners have volunteered to take a 5 percent pay cut — citing an industry shift on the compensation issue.

"It is because the industry has been...
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