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50% of Nations’ Top Legal Firms Cut Staffs This Year : Attorneys: The going rate for first-year associates’ salaries also has not increased since 1989, but they still run as high as $86,000.

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From Reuters

Half the nation’s top 250 law firms have cut their legal staffs this year, while the going salary rate for first-year associates has not risen from 1989 levels, a survey released Monday shows.

First-year salaries still run as high as $86,000, however.

The National Law Journal, a New York-based weekly trade publication, issued the findings in its 15th annual study of the country’s top firms.

The Law Journal reported that although major firms have offices everywhere from Hong Kong to Hungary, some have started to close unsuccessful branches.

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“Downsizing, not growth, is still the word on everyone’s lips,” the paper said.

The report shows that when employees are cut it is usually associates, not partners, who get laid off. Of the 250 firms surveyed, 159, or 64%, reduced their associates staffs between 1991 and 1992.

The five largest firms in 1991 are still the largest.

They are: Chicago-based Baker & McKenzie; Cleveland-based Jones, Day, Reavis & Pogue; New York-based Skadden, Arps, Slate, Meagher & Flom; Los-Angeles-based Gibson, Dunn & Crutcher, and Chicago-based Sidley & Austin.

Skadden, Arps--with 976 lawyers--reported the biggest drop in associates. It has 129 fewer lawyers this year compared to 1991.

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Jones, Day--with 1,183 lawyers--is down 76 lawyers.

The only new entry to the top 10 was New York-based Weil, Gotshal & Manges, which took on 37 lawyers for a total 635, up from 598 a year ago. It was the fourth consecutive year that the firm has added more than 30 attorneys.

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