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Will Law Firms Take First-Years' Money Pot Off the Boil?
With first-year salaries at large law firms soaring by an impressive 250 percent in 20 years, some firm leaders are asking new questions about the cycle. "It's got to end," says Cozen O'Connor Chairman Stephen Cozen. "There's not an unlimited pot out there." The increase in salary on the lower end and the dwindling of partner profits to pay for it on the other end has created a tension zone somewhere in the middle, according to observers. And are firms even seeing a return on their investment?Litvin Blumberg Collapse Tops List of Law Firm Events
In 2004, none of Philadelphia's major law firms completed a gigantic merger. There were no major moves into new legal markets. And there were no significant associate layoffs reported.Hangley Aronchick Raises Associate Salaries to $135,000
Philadelphia's $135,000 starting associate salary bandwagon just got a little more crowded.Eckert Seamans Hires White-Collar Head From Dilworth
White-collar attorney David M. Laigaie has left Philadelphia-based Dilworth Paxson to join Pittsburgh-based Eckert Seamans Cherin & Mellott as a member and head of the firm's corporate investigations and white-collar defense practice.Bill Addresses Independent Contractor Misclassification
On April 22, a bill was introduced in Congress to make misclassification of employees as independent contractors a federal labor law violation. The Employee Misclassification Prevention Act, or EMPA, would also impose record-keeping and notice obligations upon companies and subject them to hefty penalties for noncompliance with the proposed new law.Trending Stories
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