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September 30, 2008 2:36 PM

Associate Pay Holds Steady

Posted by Ed Shanahan

As law firms grapple with the fallout from the current financial crisis, starting associate pay is likely to hold steady for a while, according to a special associates report from sibling publication Legal Times.

"I don't anticipate any jumps this year. I just don't see it happening," Wiley Rein managing partner Richard Wiley told the paper.

What can young lawyers expect? Given the drop in profits that many legal consultants are predicting, law firms will be pushing associates harder for more hours. Ropes & Gray, for instance, has instituted a billable hours goal of 1900 hours for all new associates, according to the report. Partner William Knowlton, a member of the firm's policy committee, said the decision will set expectations and is unrelated to associate salaries.

You can access "Associate Pay Unlikely to Rise" and Legal Times's special associates report here.

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