Anonymous User wrote:Anyone have an offer that actually said what they will be paying this summer? Secured an offer from a v30, but it only said that last year's SAs were paid 3,100/week.
This is not directly on point, but I'm a 3L with an offer of full time employment from a V10. The offer letter says literally nothing about compensation, whereas my recollection is that friends in the class of 2009 had $ figures in their full-time offer letters (different firms, but same market). All of which is to say that I think firms are generally getting more coy about compensation, perhaps in the hope that they can make adjustments later either to economic realities or to what peer firms are doing. Personally, I don't think my firm will backslide from 160k (~$3100/week) to 145k (~2750/week), either for summers or first year associates, but I guess I wouldn't be shocked if it did happen. Looking more broadly at firms, I think a ton of V20-100 firms will move from the 160 scale to the 145 scale in the next year or so. In fact, many have already.
Update: Writing the post above made me curious, so I just took a look at my offer letters from last fall. About a third of the firms I still have letters from say something akin to "as a summer associate, you will receive a salary of not less than X per week." One said that the firm didn't know what it would be paying its 2009 SAs. The remainder, mostly from the higher-end firms among the bunch (including W&C), said nothing regarding salary. So it could be the case that the lack of salary data on fall 2009 offer letters is not something new.