Alston & Bird Chops $5K Off ‘09 Pay for Associates, Says ‘Market is Shifting’

Joining a growing number of law firms that are cutting associate pay, essentially, because they can, Alston & Bird has announced that it will reduce the salaries of all 451 of the firm's associates by $5,000 for the rest of the year.

"It is no secret the market is shifting," managing partner Richard Hays tells the Fulton County Daily Report.

However, the Atlanta-based national firm apparently hasn't yet decided what to do concerning associate salaries in 2010 and thereafter. The firm's salary range for Atlanta associates presently ranges from $145,000 for first-years to about $190,000 for those at the other end of the seniority scale.

Earlier related coverage:

ABAJournal.com: "Pay Cuts Accelerate at Law Firms Across the Country"

ABAJournal.com: "Blank Rome Cuts Pay of New Associates to $130K"