Biglaw Firm That Cut Associate Compensation By Up To 50 Percent To Reinstate Full Salaries
“Schiff Hardin, a firm that brought in $186,437,000 gross revenue in 2019, ranking 158th on the Am Law 200. If you recall, back in April, the firm instituted some of the largest associate pay cuts we’d heard about during the coronavirus crisis. While the majority of attorneys saw a 15 percent compensation cut, certain practice areas took an astonishing 50 percent hit. Staff making $100,000+ were also subject to up to a 15 percent cut, and the firm also laid off some staff members,” reports Staci Zaretsky in Above the Law’s Biglaw.
“After months of suffering, all of this bad news is finally coming to and end.”
