McKenna Long & Aldridge announced Tuesday that it will reduce salaries for new associates from $145,000 to $125,000 to address economic pressures and client concerns. With 12 new associates set to start in the fall, the $20,000 cut should save the firm $240,000 -- plus money not spent on 25 summer associates, whose pay is based on first-year salaries. Some McKenna clients responded to news of the cuts with messages such as "well done" and "that's a move in the right direction," said the firm's chairman.
McKenna Cuts New Associate Pay by $20,000
April 15, 2009