Wolf Block has instituted a 10 percent reduction in associate pay, while also "significantly" increasing the bonus pool for associates, according to a statement Thursday by a firm spokesperson. Altman Weil consultant Thomas Clay said his guess is that the increased bonus pool is meant to allow the firm to reward those most deserving. Wolf Block, which made attorney and staffing cuts in December, looks to be the only U.S. firm that has moved to reduce salaries, though London firms have considered the idea.
Wolf Block Cuts Associate Salaries
The Legal Intelligencer
February 13, 2009