Pay Still Cut Forum

[jarofsoup]

People are get bonuses and my pay is still cut and I may get no end of year bonus.

One plus is that I am making my hours and have a life.

How does the rest of the still cut crew feel.

[Anonymous User]

Pay still cut at my V100, even though the firm says we're doing great. We got a small bonus that made up part of our missed pay over the summer (but not all). My hours are down because my area was impacted pretty hard in the spring, so I'm not going to complain because I've probably done 10% less work for 10% less pay. We were told our pay won't be restored at least through the end of the year and the firm seems to be sticking to that (they repeated it at a meeting last week), so I'm just trying to be grateful that I have a job that still pays well (even at a cut) and not get too jealous of folks at other firms, and not get too petty because all things considered with the pandemic and financial downturn a 10% pay cut isn't so bad.

[Anonymous User]

Reed Smith still has a pay cut of 15% for associates. It is brutal given that associate hours -- at least in my group -- are on pace with last year. Morale is extremely low. I'm personally starting to speak with recruiters and look elsewhere. No reason to work at a place that consistently pays way under market.

[Anonymous User]

Workflow has been steady and pay is still cut, and the firm is still deciding whether they will prioritize truing up foregone base pay or using the money to award year-end bonuses to a group of the highest performers.

[Anonymous User]

No 2019 bonuses still here. And pay cut still in effect. I have almost 0 hours this month and I’m still on pace for 2000+ hours, so I’m very unhappy. Not expecting bonus for 2020 either, so really have no motivation to work. I spend most days working on my resume and talking to recruiters.

Other associates are very upset. A few have left for firms that didn’t cut salary. I can see a handful leaving by December.

[12YrsAnAssociate]

Same here. I moved down the vault ladder, and I've been passed over for promotions the last 2 years despite good reviews because I'm so "new" to the firm. I saw that the firm I came from (where I always received great reviews, and never missed a promotion) didn't cut pay, and gave out this mid-year bonus, and I'm super depressed about my poor career choices.

[Anonymous User]

Reed Smith still has a pay cut of 15% for associates. It is brutal given that associate hours -- at least in my group -- are on pace with last year. Morale is extremely low. I'm personally starting to speak with recruiters and look elsewhere. No reason to work at a place that consistently pays way under market.

Same at Baker McKenzie.

[jarofsoup]

I know that they can make us hole and they are just not.

They also still expect us to hit the same hours even though we are getting paid less

[jarofsoup]

So if your firms pay is cut and there have been layoffs and stealth layoffs but you are working crazy hours what do you do...

[Anonymous User]

So if your firms pay is cut and there have been layoffs and stealth layoffs but you are working crazy hours what do you do...

I’ve just been less responsive. They pay me less, which means they think I’m less capable. So, I’ll just be less capable. I am so done with my firm and am working with recruiters to either lateral to a market-paying firm (that I could last in for a year or two) or a smaller market that’ll give me a longer career runway.

I would not recommend being less responsive if you’re trying to remain at your firm. I have just checked out completely and would like to get fired with severance at this point. Also, I wouldn’t do this if you’re in a practice that isn’t “in demand” right now.

[Sackboy]

They pay me less, which means they think I’m less capable.

Quite frankly, you're getting paid less, because far too many firms were at the $190,000 scale than had the financials for it to make sense. A place like Reed Smith that has a PPP of $1.2M and tons of offices in places like Pittsburgh, Wilmington, Princeton, etc. probably shouldn't have the same labor structure as a place like Simpson Thacher with a PPP of $4.4M and legal services exclusively centered in major American and international cities. If you're at a firm with pay cuts, you're likely, on average, doing less profitable work than your peers at no cut firms, and you're finally getting paid an amount that reflects that.

It sucks, and I'm sorry for you, but you've pretty much been lucky up until this point to have things work out how they have instead of biglaw having market segmentation from the onset of your career.

[Anonymous User]

They pay me less, which means they think I’m less capable.

Quite frankly, you're getting paid less, because far too many firms were at the $190,000 scale than had the financials for it to make sense. A place like Reed Smith that has a PPP of $1.2M and tons of offices in places like Pittsburgh, Wilmington, Princeton, etc. probably shouldn't have the same labor structure as a place like Simpson Thacher with a PPP of $4.4M and legal services exclusively centered in major American and international cities. If you're at a firm with pay cuts, you're likely, on average, doing less profitable work than your peers at no cut firms, and you're finally getting paid an amount that reflects that.

It sucks, and I'm sorry for you, but you've pretty much been lucky up until this point to have things work out how they have instead of biglaw having market segmentation from the onset of your career.

I get your point, but it’s very annoying when I see that the firm is on pace to collect $1M+ for my time during a “down” year. None of our competitors cut as well, so that also stings.

I get that firms like Reed Smith that bill out seniors in Pittsburgh at like $300 an hour probably shouldn’t be anywhere near market. But my firm has always said it has “competitive salaries,” has paid above market bonuses to high billers, etc., so it’s frustrating that we are getting shafted now. I was okay with the pay cut. What I’m not okay with is the entire market reversing them and my firm remaining silent. We haven’t heard a peep from the chair in two months.

[jarofsoup]

Okay but why pay a colleague the same that works in Pitts than Ny they bill me out a higher rate and my costs of living is like much higher. I mean I get your point but it’s like then do not expect the hours if you can’t pay the bill.

I am in the most demand practice area right now.

[Anonymous User]

They pay me less, which means they think I’m less capable.

Quite frankly, you're getting paid less, because far too many firms were at the $190,000 scale than had the financials for it to make sense. A place like Reed Smith that has a PPP of $1.2M and tons of offices in places like Pittsburgh, Wilmington, Princeton, etc. probably shouldn't have the same labor structure as a place like Simpson Thacher with a PPP of $4.4M and legal services exclusively centered in major American and international cities. If you're at a firm with pay cuts, you're likely, on average, doing less profitable work than your peers at no cut firms, and you're finally getting paid an amount that reflects that.

It sucks, and I'm sorry for you, but you've pretty much been lucky up until this point to have things work out how they have instead of biglaw having market segmentation from the onset of your career.

I get your point, but it’s very annoying when I see that the firm is on pace to collect $1M+ for my time during a “down” year. None of our competitors cut as well, so that also stings.

I get that firms like Reed Smith that bill out seniors in Pittsburgh at like $300 an hour probably shouldn’t be anywhere near market. But my firm has always said it has “competitive salaries,” has paid above market bonuses to high billers, etc., so it’s frustrating that we are getting shafted now. I was okay with the pay cut. What I’m not okay with is the entire market reversing them and my firm remaining silent. We haven’t heard a peep from the chair in two months.

Can you say which firm this is? I’m an incoming first year and am worried because it sounds like it could be my firm.

[Anonymous User]

They pay me less, which means they think I’m less capable.

Quite frankly, you're getting paid less, because far too many firms were at the $190,000 scale than had the financials for it to make sense. A place like Reed Smith that has a PPP of $1.2M and tons of offices in places like Pittsburgh, Wilmington, Princeton, etc. probably shouldn't have the same labor structure as a place like Simpson Thacher with a PPP of $4.4M and legal services exclusively centered in major American and international cities. If you're at a firm with pay cuts, you're likely, on average, doing less profitable work than your peers at no cut firms, and you're finally getting paid an amount that reflects that.

It sucks, and I'm sorry for you, but you've pretty much been lucky up until this point to have things work out how they have instead of biglaw having market segmentation from the onset of your career.

I get your point, but it’s very annoying when I see that the firm is on pace to collect $1M+ for my time during a “down” year. None of our competitors cut as well, so that also stings.

I get that firms like Reed Smith that bill out seniors in Pittsburgh at like $300 an hour probably shouldn’t be anywhere near market. But my firm has always said it has “competitive salaries,” has paid above market bonuses to high billers, etc., so it’s frustrating that we are getting shafted now. I was okay with the pay cut. What I’m not okay with is the entire market reversing them and my firm remaining silent. We haven’t heard a peep from the chair in two months.

Pittsburgh associate not at RS jumping in. Not sure how the rest of the firms do it, but at my firm I was billed out at 450 as a third year. One matter I’m on I’ve seen the bill and I’m at 600.

And cost of living argument aside, ppl in secondary offices often work as much if not more than their NYC counterparts.

[jarofsoup]

I am not talking about RS just using it as an example. A 20% hit is worse in NY than Pitt.