Lawyer Salary

Originally Posted by Unregistered

Apologies, but "you wont get anything more than 1 mth bonus in small/med firm" is not true. Trust me, the **** is not worth staying for if you only get 1 mth bonus at the end of the year.

I work for a small firm. We consistently give out between 3 - 5 months bonus once the accounts are in for the year. The only time this inst the case is if the firm doesn't meet a specific set target. It looks like this year will be one of those years - but this is one of those cases where you'll be rewarded for loyalty.

Ya high variance. Some of my friends negotiated for variable component pegged to billings. Very good deal cause they have good workflow.

Originally Posted by Unregistered

Interview for NQ role?

Dentons cut salaries iirc, originally was around ~5.5 not sure what it dropped to.

Ya sigh I heard my Denton's friends kena substantial cut. Somemore, early on during the CB

Originally Posted by Unregistered

Ya high variance. Some of my friends negotiated for variable component pegged to billings. Very good deal cause they have good workflow.

Its true. Im an NQ with basic + variable arrangement - drawing average of around 6k each mth (excluding any bonuses, frontload or otherwise). One good thing about such pay structures is that the variable component of the pay makes you very motivated to chiong and get files/do more work.

Heard WP got pay cut. Is this going to be permanent? How bad are they doing now?

Originally Posted by Unregistered

Heard WP got pay cut. Is this going to be permanent? How bad are they doing now?

30% cut. Likely permanent. Also laying people off. Formal notice given on Friday.

Originally Posted by Unregistered

30% cut. Likely permanent. Also laying people off. Formal notice given on Friday.

30% pay cut sounds ridiculous. highly doubt this is true

Originally Posted by Unregistered

30% pay cut sounds ridiculous. highly doubt this is true

It's true. I think this guy is guesstimating but it's about right. It's a 10% cut to base and no bonus, so it's about 30%.

Originally Posted by Unregistered

It's true. I think this guy is guesstimating but it's about right. It's a 10% cut to base and no bonus, so it's about 30%.

WP assoc here. Can attest to this. Work has dried up a lot. Times are tough now and firm is tightening purse strings all around.

I'm an assoc whose paycut got cut recently. Can anyone give any helpful insight as to whether partners' pay get cut as well?

Thanks.

Originally Posted by Unregistered

I'm an assoc whose paycut got cut recently. Can anyone give any helpful insight as to whether partners' pay get cut as well?

Thanks.

I realised my question wasn't specific enough. I gathered that the revenue of the team has decreased generally. But do partners (both equity and paid) also agree on having their salary cut or do they just slash the pay of those under them?