Temporary 10% Pay Cut at Troutman Is Based on Individual Performance

Posted Jul 22, 2009 12:22 PM CST
By Martha Neil

Troutman Sanders has confirmed a 10 percent cut in what the law firm describes as "the total amount of associate pay that was budgeted for Aug. 1-Dec. 31, 2009."

However, reductions in associate compensation will be determined based on individual performance evaluations rather than across the board, the law firm explains in a written statement provided to Above the Law.

The firm says it is making the move because of "changing market conditions for associate compensation."

Comments

crab-boy
Jul 22, 2009 12:50 PM CST

Holy gill nets! Troutman was always my favorite superhero!

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AndytheLawyer
Jul 22, 2009 3:01 PM CST

I’ll bet you a handful of plankton that median partner compensation incureased.

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B. McLeod
Jul 22, 2009 10:10 PM CST

Secong half, 2009. The clock is ticking down to October (to which many partners likley extended their federal returns), then bonus time (vel non) and year-end.

The hoped-for recovery is not materializing. Despite all the cuts, purges and other sacrifices, the wrath of Heaven has not been turned aside (but its hand is set forth still). Grim news follows grim news.

However (as I have noted before), the closer any “associate” comes to a staff cost commensurate with his or her value to the firm, the safer that “associate” is. So, if there is not a “silver lining” to the cuts, at least there is a pewter one.

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B. McLeod
Jul 22, 2009 10:12 PM CST

Also, maybe Troutman will use the savings to hire some “Rambo lawyers.” There would be a kernel of sense in this. (Apologies to Kalifornia Arnold, for stepping on his lines).

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Temporary 10% Pay Cut at Troutman Is Based on Individual Performance

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Temporary 10% Pay Cut at Troutman Is Based on Individual Performance

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