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More Philadelphia firms raising associate salaries

Schnader Harrison Segal & Lewis has joined the ranks of Philadelphia firms who have increased first-year associate salaries to $125,000.

Effective July 1, a $10,000 increase will raise salaries in all of the firm's seven offices. High-level associates are already under special salary arrangements and would be exempt from the raise. The firm plans to fund the raises through a contingency reserve in the 2006 budget and cost management techniques.

Within the past few months, a predominance of Philadelphia firms have adjusted associate salaries. Last week, Buchanan Ingersoll also increased starting pay from $115,000 to $125,000.

03-20-2006

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Korea- the next stop for leading U.S. firms

Major U.S. firms are eyeing Korea as a new destination for global expansion.

Top firms like Shearman & Sterling; Sheppard, Mullin, Richter & Hampton; Paul, Hastings, Janofsky & Walker; Orrick, Herrington & Sutcliffe; White & Case; Sidley Austin Brown & Wood; and Quinn Emanuel Urquhart Oliver & Hedges are now awaiting clearance from the Korean government to set up offices in Korea.

The U.S. and Korean governments are currently in discussions over a trade pact, and legal analysts are expecting firms to gain entry into the Korean market by the end of next year. Meanwhile, leading Korean firms like Shin & Kim and Kim & Chang have been adding large numbers of U.S. attorneys in their practices.

03-20-2006

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Baker Botts announces associate pay raises in Texas

Baker Botts is the latest Texas firm to offer across-the-board associate raises. First-year associates at this firm will now make $140,000 per year. An additional bonus of $10,000 can be earned by billing a minimum of 2,300 hours.

Second-year associates will earn $145,000 with a likely bonus of up to $15,000 annually. Third-year associates will earn $150,000 plus a probable $25,000 bonus. A $160,000 base salary and expected bonus of $30,000 is slated for fourth-year associates. Fifth- through eighth-year associates will make between $170,000 and $190,000 with bonuses ranging from $40,000 and $50,000.

The firm raised salaries on the East Coast in late 2005 and is currently considering a second wave of associate raises for those offices.

03-17-2006

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Buchanan to increase first-year salaries in Philadelphia

First-year associate salaries at Buchanan Ingersoll in Philadelphia have been raised to $125,000, a competitive rate for the Pennsylvania market.

The firm is still contemplating pay raises for other associate levels. Salaries overall may not increase on a prorated basis, as the firm relies upon its bonus program to keep up with other firms. In fact, the firm has doubled associate bonuses for 2006.

Though Buchanan has implemented salary raises in some of its other offices, the level of increase in the Philadelphia office remains lower than in larger markets.

03-17-2006

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McGuireWoods to enhance LA presence with merger

McGuireWoods plans to merge with Van Etten Suzumoto & Becket in Los Angeles. The move will help McGuire Woods increase its Los Angeles presence after having opened a new office there last year.

The 40-attorney Van Etten Suzumoto & Becket represents corporations and individuals in industries from healthcare to pharmaceutical and technology, among others. The 750-lawyer McGuireWoods is listed at No. 63 on the Am Law 100 rankings of U.S. law firms and boasts a global presence with 15 offices in the United States, Europe and Central Asia. It caters to clients in the public, private, government and nonprofit areas in industries such as automotive, energy, health care, telecommunications, technology, manufacturing and transportation.

03-17-2006

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New battle lines being drawn in the associate salary war

Major firms in New York and Washington, DC, are bracing themselves for a second wave of associate salary raises.

Orrick, Herrington & Sutcliffe has raised associate salaries for the second time this year. First-year associates at this firm will now earn $145,000. Last month, the firm raised first-year salaries from $125,000 to $135,000.

This second round of associate salary increases, led by Sullivan & Cromwell, is predicted to spawn a trend in the market. Several other leading New York and Washington, DC, firms have already increased first-year salaries to $145,000. Others are expected to follow suit soon.

03-16-2006

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Lee & Hayes eyes foreign expansion

The growing demand for Intellectual Property attorneys has thrust Lee & Hayes from relative obscurity in the 1990s to national prominence. In less than a decade, the firm has grown from two attorneys working from home to 35 attorneys working in its Seattle, Denver and Spokane offices.

Currently, Lee & Hayes is considering expansion into the international market. Their clients are already marketing products in India, China and Great Britain. As a result, the firm is considering opening offices in China and India.

The firm, which specializes in IP rights protection in the software, healthcare, telecommunications and financial-services industries, first gained momentum during the dot-com boom. Today, the firm represents the world's largest technology companies, including Microsoft, Hewlett-Packard, GE Healthcare, Honeywell International Inc., Intel Corp., BellSouth Corp. and The Goldman Sachs Group. In 2005, Lee & Hayes was named the "go-to" IP firm by Corporate Counsel magazine.

03-16-2006

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