A number of firms are now rolling back temporary pay cuts made in response to the COVID-19 pandemic, likely with an eye on their immediate financial condition. But in the decision to restore pay, even partially, future hiring and retention prospects are a major consideration as well.
Firms that have taken a conservative approach to finances as they steer through the pandemic, by keeping austerity measures firmly in place, may be viewed less favorably by potential lateral hires or law students than competitors that imposed no cuts or that quickly restored pay once their actual revenue beat forecasts.
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