Blank Rome announced yesterday that it would increase first-year salaries in New York, Washington, D.C., and Philadelphia. Starting pay in Philly will now be $135,000; in D.C. it will be $145,000; and in NY it will be $150,000. The same day D.L.A. Piper also made the move pushing Philadelphia salaries to $135,000, NY to $160,000, and D.C. and Chicago to $145,000. Other firms have not confirmed plans to match the increases but will be wathcing the market closely now that the first Philadelphia firm has raised salaries.
Source: www.law.com
Salary Increases Spread to New Jersey
Similar to what happened last year when salary increases spread through the nation coast to coast and New Jersey firms eventually followed, the pay raise fever of 2007 has finally hit the state. Some firms such as Day Pitney and Drinker Biddle have already increased salaries in their NJ offices. However, though they may compete for some of the same candidates, NJ firms firms will not necessarily match NY salaries. As for the firms that have yet to raise payrates, they are watching the NY market closely and will act appropriately to remain competitive.
Source: www.nylawyer.com
Peckar & Abramson Acquires NY Boutique
Construction firm, Peckar & Abramson, recently acquired NY boutique Berman, Paley, Goldstein & Monte. Three partners and one associate from Berman have joined Peckar & Abramson. The midsize firm has around 100 attorneys in its nine offices across the country.
Source: www.nylawyer.com
Merger Proves Profitable for Buchanan Ingersoll
The merger between Buchanan Ingersoll and Klett Rooney Lieber & Schorling has proved to be profitable, as Buchanan Ingersoll & Rooney shows a 40 percent increase in gross revenue during 2006 compared with Buchanan Ingersoll’s pre-merger numbers in 2005. The firms merged in July of 2006, increasing revenues to $271.3 million from $193.7 million in 2005. Part of the increase can be attributed to the spike in numbers – from 385 to 505 attorneys. Though the merger was the main contributor to the growth, the firm also experienced growth in certain practice areas such as intellectual property, corporate finance, and complex litigation.
Source: www.law.com
Susman Godfrey Expands in NY
Litigation boutique, Susman Godfrey, is expanding its NY office. The Houston, TX firm recently added a new partner and relocated another from Dallas to New York. The 75-lawyer firm opened the NY office last fall, and it focuses on representing clients in antitrust, intellectual property, securities and accounting malpractice cases. Having won some of the largest damages awards and settlements in history, Susman Godfrey is most known for its antitrust practice.
Source: www.law.com
Pay Raises in Atlanta
Three Atlanta firms followed Troutman Sanders’ lead in raising salaries. Jones Day, King & Spalding and Alston & Bird are implementing raises that actually put them above Troutman’s first-year associate increase from 115K to 125K. Jones Day’s starting pay will be $135,000, King & Spaulding will pay first-years $130,000, and Alston & Bird raised all associate salaries by 15K, putting first-year pay at $130,000. Alston will also raise salaries in D.C. and New York to match the market increases of last month; D.C. attorneys start at $145,000, and NY associates receive $160,000 in their first year.
Source: www.nylawyer.com
Associates’ Take on Salary Increases
Associates are not staying silent about the recent pay increases. Those in CA especially have something to say – while some complain about their firms not matching the NY market, others prefer that the markets remain separate and unique. Most associates recognize that NY attorneys are working longer hours, and should therefore be compensated for them. Many also claim that they would rather work less and get paid an accordingly smaller salary. The slight differences in pay generally matters most to students looking for their first firm (and hoping to pay off loans). For mid-level associates, on the other hand, comfort, environment, and overall good fit usually matter more than a 10K difference in pay.
Source: www.nylawyer.com
Moving Day for NY Firms
Sichenzia Ross Friedman Ference relocated from 1065 Avenue of the Americas to 61 Broadway in downtown New York, expanding by 11,250 square feet. The larger space will better accomodate the growing firm, which now has 25 lawyers and 13 support staff. The new office before was home to Healy & Baillie, which recently merged with Blank Rome and now operates out of the Chrysler Building. Cole, Schotz, Meisel, Forman & Leonard has also moved from 460 Park Avenue to a larger, 17,300 square foot office at 900 Third Avenue. Fourteen attorneys and 10 professionals will work in the new office, but there is room for growth. The firm, which merged with Angel & Frankel last year, expects there to be additions to the staff over the next few years.
Source: www.nylawyer.com
Littler Opens Two New CT Offices
Last week Littler Mendelson announced the opening of two new offices in Connecticut – one in New Haven and the other in Stamford. Entering the CT market, the San Francisco-based firm encroaches on the territory of Jackson Lewis, before the dominant player in employment law. With the opening of its two new offices, Littler now has 41 offices nationwide and close to 600 attorneys. The self-proclaimed largest labor and employment boutique in the U.S., Littler maintains a healthy rivalry with Jackson Lewis; however, the competition does not seem to be affecting the employment practices of local firms.
Source: www.law.com
Lateral Hires at Tyler Cooper’s New Manhattan Office
Tyler, Cooper & Alcorn recently opened a Manhattan office, and soon thereafter made its first two new hires. Though it is unusual for the firm to hire laterals with little experience practicing law, these two associates’ backgrounds are primarily in journalism and business. After graduating from Brooklyn Law School and practicing as an in-house counsel, Harvey Sigelbaum spent 40 years working in the insurance industry. Carl Ginsburg worked for 25 years as a news producer at NBC and CBS covering courts, government agencies and business. At Tyler Cooper, Sigelbaum and Ginsburg will be dealing with healthcare fraud and abuse; the two attorneys will advise clients, but not represent them in court.
Source: www.nylawyer.com
