Lawyer Salary

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?

Originally Posted by Unregistered

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?

EPs probably cut the pay of those below them to protect their own profits. That's capitalism for you.

Originally Posted by Unregister

EPs probably cut the pay of those below them to protect their own profits. That's capitalism for you.

Ouch. Work like a dog but when troubles come your pay is first to get cut.