Economic Woes Spell End of Associate Pay Hikes

Law360, New York (May 1, 2008, 12:00 AM EDT) -- Over the past few years, salaries for first-year associates at the country's top law firms have skyrocketed, as law firms flush with profits jockeyed for position, prestige and top new talent. But the strain on the broader economy in 2008 may finally spell the end of pay hikes for law firms' most inexperienced associates, at least for now, experts say.

The economic slowdown is putting significant pressure on many law firms to control costs. Many practice areas, particularly those hit hardest by the credit crunch, are...
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