Experts: Lower Associate Pay Is Here to Stay
Fifty-five percent of participants in a recent seminar on associate compensation said they believe that associate salary cuts are temporary. But Altman Weil consultants presenting the webinar said lower salaries are here to stay and are part of a "fundamental and profound reset" after two decades of "steady, sometimes spectacular growth" for the profession. Associate pay did not drop enough in the recent round of big law firm cuts and should have been restored to 1998 levels, said Altman Weil's James Cotterman.
