Small and midsize law firms that have no intention of matching the $160,000 large firms are doling out to first-year associates are finding different ways to stay competitive. "Most people would trade away money for hours in a heartbeat," says one legal recruiter. Sterne Kessler's associates expressed concern that "higher salaries would put more pressure on them," says managing director Michael Ray. So the firm came up with a tiered structure to allow associates to earn more if they work longer hours.
May 25, 2007 at 12:00 AM
1 minute read
The original version of this story was published on National Law Journal
In the first weeks after a couple of local stalwarts raised their starting salaries for first-year associates to $160,000, Washington, D.C.’s largest firms are in a holding pattern, all nervously eyeing one another to see who will make the leap next.
But they aren’t the only ones. The region’s smaller firms, those that have no intention of matching that amount, are also feeling some trepidation.
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