WITH MAJOR LAW FIRMS around the country raising associate salaries as much as $15,000 per associate, observers are wondering just how the firms are going to manage this new major expense. It’s got to come from somewhere, whether it’s skimmed off profits-per-partner, increased billable-hour requirements or from raised rates, and that has some in-house counsel nervous.
“I don’t think the partners have any intention of picking up the cost,” said Susan Hackett, senior vice president and general counsel for the Association of Corporate Counsel. “Associates who hear they’re going to get more money, after the first 10 seconds they say, ‘Oh crap. What does that really mean’ It means if you have a Saturday, it’s gone.”
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