Lawyer Pay
Blank Rome Cuts Pay of New Associates to $130K
Posted Jul 2, 2009, 08:11 am CST
By Debra Cassens Weiss
New associates at Blank Rome are getting a $15,000 pay cut.
New salaries for first-year associates will drop to $130,000, while others will see pay cuts ranging from 2 percent to 10 percent, the Philadelphia Business Journal reports. The firm announced the slashed salaries after at least five other Pennsylvania firms dropped pay, including Schnader Harrison Segal & Lewis.
But no salary cuts have been announced at Philadelphia firms Dechert, Morgan Lewis & Bockius, Pepper Hamilton and Duane Morris, the Philadelphia Business Journal says.
Blank Rome laid off 47 lawyers and staffers earlier this year and shortened its summer associate program to six weeks, a period two weeks shorter than reduced summer programs at many other law firms, according to the story.