Has your firm restored your pay? Is it worth considering jumping to another firm that is going to pay you what you’re worth? Don’t know about the rest of you, by my student loan interest rates aren’t getting any lower.

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Posting as :
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Interesting question - unless you have been busy (in which case they should pay your market salary), would remain loyal to your firm through these difficult times. The partners are hurting too, heard one of the partners complain that it was $3,500 to gas up his yacht one weekend this summer.

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For the record, I have been busy. But this is hilarious.

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We didn't cut salaries, but I'm not expecting a bonus (our FY just ended). I'm in the same boat though bc if I don't get a raise this year, it's really going to make me question our finances and the value we put on associates.

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Completely agree—it just seems like other firms aren’t making cuts/and are hiring aggressively. Maybe those firms are a better idea...

Yes, my firm restored pay. I was giving them until January.

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Glad to hear! Yes, we’ve been promised pay restoration in January, but my firm just cut a bunch of staff and associates, so I doubt that...

We’ve restored via true up payments through last week but continuing forward at 10% cut I believe, for the time being.

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Hmm that’s a mixed bag, I guess!

Nope, they are hoping/planning to restore in January.

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Truth.

My AmLaw 100 firm cut associate salary by 15% in late April. It is restoring associate salary by 7.5% on November 1. I don’t know when it will restore the the other 7.5%.

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Is this the year where there will be a divergence in bonus scales among V100 firms? I presume that the firms that gave fall bonuses will still match 2019 scale, especially with some firms being up YoY by 4-6% revenue. Other firms that were harder hit may offer less if anything at all.

Personally, to the author’s original question, I wouldn’t leave until after bonuses are announced because there is the chance that your firm may be waiting until then to cover some back pay, which we’ve already seen other firms do (e.g. Hogan Lovells).

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