No End In Sight For Associate Pay Cuts

Law360, New York (September 14, 2009, 2:28 PM EDT) -- Changes and reductions made to associate pay will likely outlast the recession as law firms increasingly move toward merit-based systems of compensation, consultants said.

Law firms around the country have slashed the pay of associates as they try to cut costs and ride out the recession. When the downturn ends, large law firms will likely not return to the $160,000 benchmark for first-year associates, consultants said.

“There is no longer any pressure for law firms to pay the salaries that the top-tier law firms are paying,”...
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