Photo: Freedomz/Shutterstock.com Latest Salary Increases Will Cost Firms. But Not as Much as 'Special' Bonuses
For senior associates, the salary raises meant a $25,000 pay bump, compared to recent top bonuses of first $40,000 and then $64,000.
June 15, 2021 at 01:31 PM
6 minute read
Law Firm Profitability
The latest round of associate salary increases will mean an annual cost increase of over eight figures for many Am Law 200 firms taking part in the latest skirmish in the salary wars.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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