As law firms wrapped up operations for 2007, the associate compensation picture looked eerily similar to the boom before the bust seven years ago. But now 2007 may become a distant memory, as 2008 is looking increasingly leaner. Subprime mortgage failures, high oil prices, unrest in the Middle East and an enfeebled dollar closed out the 2007 economy with a whimper. And if the economy remains tepid or grows worse, less homogeneity in bonus and salary structures is expected this year.
Leaner Pay, Bonuses May Be Reality in 2008
The National Law Journal
January 9, 2008