As Texas firms mull over what to do about Vinson & Elkins’ late-year decision to hike associate salaries by an abundant 10 percent, a Silicon Valley firm with an office in Austin raised stakes even higher.
First-year associates at Houston’s V & E who started work in the fall of 1999 will earn $95,000 during their first year of work, instead of the $90,500 they expected when hired. But first-year associates at Gunderson Dettmer Stough Villeneuve Franklin & Hachigian will make $145,000 — and have a chance at a $5,000 discretionary bonus — instead of the $100,500 they expected.
