Bonuses take precedence over salary in 2004!
Ed Poll was quoted in the Los Angeles Business Journal of December 6th to the effect that bonuses will vary upward while salaries will not be changed. Sullivan & Cromwell LLP, New York, started the move early by doling out larger than usual bonues for first year associates. Now the pressure is on other large firms to match that move or become otherwise creative to satisfy associates in their ranks.
Only time will tell what will be the ripple-down effect for other attorneys — and then to watch the continued pressure to raise fees to clients.Tags: Management
Categorized in: Management