Firms Weigh Slashes In Pay, Boosts In Training

Law360, New York (May 14, 2009, 12:00 AM EDT) -- In these harsh economic times, some law firms are thinking about seizing the opportunity to significantly lower the salaries of first- and second-year associates and shift to a system of more intensive training.

A move to a system that would be similar to that in the United Kingdom, Canada and other countries would benefit law firms and associates, consultants said. A change would also please clients who are clamoring for lower billing rates amid the downturn.

As it stands now, law school graduates have little to...
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