Covington & Burling wasn’t among the Am Law 100 firms to cut or freeze salaries last year, and had held off doing so this year as well, but that all changed on Tuesday, when the firm announced it would freeze associate salaries at offices outside of New York City. The news was first reported by Above the Law. A firm spokeswoman confirmed the salary freezes and said the firm would provide no further comment.
The firm announced the freeze on the same day Reed Smith announced a 20 percent cut in first-year associate salaries and a similar cut in first-year billing rates.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]