Alston & Bird has cut associate pay by $5,000 across the board for the remainder of the year. “It is no secret the market is shifting,” said the firm’s managing partner, Richard R. Hays.
The cuts, effective July 15, will save the firm, which Hays said has 451 associates, about $2.26 million this year. He said Alston’s bonus scale has not changed and that the firm has not yet decided on 2010 associate salaries.
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