Second Texas Firm Hikes Associate Pay
Posted Jul 20, 2007 6:32 AM CST
By Debra Cassens Weiss
A second Texas law firm has raised salaries for new associates to $160,000.
Houston-based Andrews Kurth announced the pay increase yesterday, a day after Vinson & Elkins hiked associate pay, Texas Lawyer reports.
Vinson & Elkins adopted a unique pay structure. Associates get raises every year, but the amount of the pay hike will be lower after the third year if they bill less than 2,000 hours annually. (See this ABAJournal.com post for details.)
Andrews Kurth said it hadn’t decided whether to follow V&E’s lead on older associate pay. Second-year associates will make $170,000. “We are still working on the details of the compensation structure for other associate classes,” the firm said in a memo.