By most accounts, associates at Pennsylvania’s small and midsize firms enjoyed salaries and bonuses in 2007 that were either consistent with or higher than those of the year before. But as we head into an economically uncertain 2008, some associates may feel the effects of a downturn more than others depending on their firms’ particular philosophies toward compensation.
For associates at firms that base the size of year-end bonuses and annual pay raises largely on the amount of billable hours each attorney logs, lukewarm business this year could translate into an equally tepid payoff in comparison with the last few years.
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