As law firms nationally cut salaries, eyes are now turning to New York to see if the city that pushed associate pay to unprecedented levels will start slicing checks too. At least two heads of New York law firms say they would consider reducing associate salaries. But the firm leaders, who spoke anonymously, say they're unlikely to make those cuts unless a firm traditionally considered a market leader in setting compensation levels does so first. And there are several firms they're watching.
Will Pay Cuts Hit New York Law Firms?
The American Lawyer
May 8, 2009