Analysts expect further pay cuts for US associates
In 2009, many major US law firms have cut entry-level pay by $15,000 to $30,000 USD. Before the recession began, first-year associate salaries had risen to $160,000 in US cities like New York, Washington, D.C. and Los Angeles.
Consultants say that there is no indication, that prerecession pay levels will be reached again. Some expect even more significant cuts of entry-level lawyer salaries in 2010.
Law firms that have cut associate salaries by 10-20 percent this year include Baker & McKenzie, DLA Piper, Holland & Knight, Morrison & Foerster, Pillsbury Winthrop Shaw Pittman, Squire Sanders & Dempsey.
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