Second firm slashes payments after slump in corporate activity
November 27, 2002 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
A second major New York firm has slashed its year-end associate bonuses with Fried Frank Harris Shriver & Jacobson following the early example of Wall Street leader Cravath Swaine & Moore.
A memo sent out last week confirmed Fried Frank will offer between $15,000 (£9,484) for junior associates, rising to $25,000 (£15,807) for senior lawyers – the same rate announced by Cravaths on 18 November.
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