Skaddenfreude: The Shearman Memo
We're having major computer troubles once again. Please bear with us.
If we could post normally, we'd have already written about LeGal bitchslapping John Scheich, the juicy Wall Street Journal article on Sullivan & Cromwell's troubles (aside from Charney v. Sullivan & Cromwell), and the latest round of associate pay raise announcements.
One of them is Shearman. Hopefully this post will go through (and just once, not twice). Here's the memo:
From: Rohan S Weerasinghe
Sent by: Halle Schargel
To: [Classes of 2006 through 1994]
Cc: Worldwide - Partners Only
Date: 01/24/2007 11:29 AM
Subject: U.S. Track Associate Salary Increases
2007 Salaries
I am pleased to announce that in addition to the bonuses announced on December 14, 2006, we are increasing salaries for U.S. Track Associates to the following levels:
Class of 2006 - $160,000
Class of 2005 - $170,000
Class of 2004 - $185,000
Class of 2003 - $210,000
Class of 2002 - $230,000
Class of 2001 - $250,000
Class of 2000 - $265,000
Class of 1999 - $280,000
Class of 1998
and above - $290,000
These increases will be retroactive to January 1, 2007 and will be reflected in your February 15, 2007 paycheck. The increases will be paid to those Associates who are in good standing and with the Firm as of February 15. Increases for those Associates who were on a leave of absence, worked part-time or joined the Firm after January 1, 2007 will be prorated.
On behalf of all of my Partners, I want to thank each of you for your contributions, dedication and hard work and, together with your help, I look forward to another strong year.
Earlier: Previous announcements of law firm associate salary increases (scroll down through "Skaddenfreude" archives)
(12) Comments
A Greedy Associates post reports that Wilkie matched
We also have the Willkie memo. It will be posted shortly (hopefully)....
Isn't Shearman imploding? Can they actually afford to pay this?
Anyone know what time the Shearman memo went out officially? Did they preempt Willkie?
OMG. Who cares
As petty as it sounds, fence-hugging firms actually do pay attention. It's all about prestige. I'm curious as well, who posted first, Shearman or Willkie?
Sorry, I know Shearman was posted here first, but who's memo went out first? And where's Cravath and WLRK?
david, you really need to buy an apple.
here's the link:
www.apple.com
hth
It's not a problem with our machine -- or machines (we blog from both a desktop and a laptop) -- but with the Dead Horse Media servers. Our brethren at DealBreaker are experiencing the same problems.
That said, we've had way fewer computer problems here than we've had at our two immediately preceding employers (Gawker Media and the U.S. Department of Justice).
I wonder if the Cravath delay has to do with the fact that their managing partner, Evan Chesler has been sitting in court all week in the Plavix trial
NYCBiglaw (12:42 PM): Shearman went out first, by email time-stamped 11:29 AM. Willkie followed by email at 11:52 AM.
Paul Hastings would also be very wise to include Chicago in their match. Their office there is brand new and they are fighting to establish themselves as a leading firm in the cityand willing to go for top talent. They could prove they're serious by being the first.