Skaddenfreude: The Davis Polk Memo
Here's the verified Davis Polk memo (which we received by email; it was also previously posted in the comments):
From: Ferrell, Kathleen L. On Behalf Of Management Committee
Sent: Thursday, January 25, 2007 5:33 PM
Cc: all.partners
Subject: Associate Salaries
We are pleased to announce that associate base salaries will be increased as follows, effective January 1, 2007:
Class of 1998 - $290,000
Class of 1999 - $280,000
Class of 2000 - $265,000
Class of 2001 - $250,000
Class of 2002 - $230,000
Class of 2003 - $210,000
Class of 2004 - $185,000
Class of 2005 - $170,000
Class of 2006 - $160,000
Entering Class of 2007 - $160,000
As always, we appreciate your efforts.
Earlier: Previous announcements of law firm associate salary increases (scroll down through "Skaddenfreude" archives)
Comments
Wachtell just raised to 210k !
Posted by: Anonymous | January 25, 2007 07:01 PM
Has anyone else noticed how curt this memo is?
One short sentence to thank associates?
Posted by: anon | January 25, 2007 07:05 PM
Seriously? I mean it's kinda irrelevant since such a high proportion of their compensation is bonus(es), but that would be startling.
Posted by: Anonymous | January 25, 2007 07:05 PM
Kathleen Ferrell sent the memo and so most likely wrote it. She's amazing to work with, and very succinct.
Posted by: Anonymous | January 25, 2007 11:50 PM