Dallas-based Winstead will not raise associate salaries in the wake of Texas market moves kicked off by a new salary scale effective today at Vinson & Elkins. Winstead will continue to pay its first-year lawyers a $135,000 base salary, but instead of a $5,000 bonus, associates will be eligible for a merit-based bonus of up to $25,000, says Denis Braham, chairman and CEO of the 303-lawyer firm. "Within our culture, it's fundamental that it's merit-based," Braham says.
August 01, 2007 at 12:00 AM
1 minute read
The original version of this story was published on National Law Journal
Dallas-based Winstead, one of the largest firms in Texas, will not raise associate salaries in the wake of Texas market moves kicked off by a new salary scale effective today at Houston-based Vinson & Elkins.
Although a number of other large Texas-based firms moved quickly to match part of V&E’s new salary scale, going to a $160,000 base for first-year associates and $170,000 base for second-years, Winstead won’t raise salaries this year.
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