Drinker Biddle Revamps Bonuses, 1st-Year Programs

Law360, New York (May 12, 2009, 12:00 AM EDT) -- In a move meant to bring firm finances in line with economic projections and increase value to clients, Drinker Biddle & Reath LLP has announced an overhaul of its associate pay system and first-year associate training program.

The changes, revealed in a memo from firm chair Alfred W. Putnam and managing partner Andrew C. Kassner that was widely circulated on the Web Monday, include alterations to the firm's associate and counsel bonus program and a significant first-year associate pay cut, to $105,000.

Notably, the firm will...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.