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Susman Godfrey Raises Associate Salaries
Texas Lawyer
July 24, 2007
Shawn Raymond
Image: Tom Callins
Over the weekend, Houston-based Susman Godfrey joined the growing list of Texas-based firms opting to compensate Texas associates at rates comparable to their New York counterparts.
According to Shawn Raymond, partner and chairman of the employment committee, the partners at Susman decided on Saturday to raise associate salaries effective Aug. 1 to $160,000 for first-years, $170,000 for second-years, $175,000 for third-years, $180,000 for fourth-years and $190,000 for fifth years -- after which lawyers at the firm are considered candidates for partnership.
"We want to attract the best and brightest at this firm," Raymond says when asked about the changes.
Last week, Houston-based Vinson & Elkins and Andrews Kurth and Dallas- and Houston-based Locke Liddell & Sapp -- in that order -- all announced they will raise first- and second-year associate salaries in their Texas and Washington, D.C., offices to $160,000 and $170,000 respectively effective Aug. 1.
Raymond notes that, unlike the other Texas-based firms that announced salary increases, Susman is increasing the salaries of more senior associates without attaching any strings to the money or hesitating about doing so.
According to a July 17 memo V&E managing partner Joe Dilg sent announcing his firm's raises, as of Aug. 1 third-year associates will earn $185,000, fourth-year associates will earn $210,000, fifth-year associates will earn $230,000, sixth-year associates will earn $250,000, seventh-year associates will earn $255,000 and eighth-year associates will earn $260,000.
But starting in their third year, V&E associates will be ineligible for a portion of those raises unless they work 2,000 firm credit hours, which can include up to 150 pro bono hours. The "deferred" portion of the base salary for V&E third-year associates is $15,000, $35,000 for fourth-year associates, $50,000 for fifth-year associates and $65,000 for sixth-, seventh- and eighth-year associates.
Andrews Kurth managing partner Bob Jewell told associates in a Wednesday missive: "We are still working on the details of the compensation structure for other associate classes."
At Locke Liddell and Andrews Kurth, both managing partners say the firm is still studying what increases will be given to third- through eighth-year associates. "We are still working on details of the compensation structure for the other associate classes, but we are committed to remain competitive. We will keep you apprised of decisions as they are made," Jerry K. Clements, Locke Liddell's Austin, Texas-based managing partner, wrote associates in a Thursday memo.
