Today's Date: Add To Favorites   
Morris Manning To Cut Associate Pay By Up To 15 Percent
Law Firm News/Georgia | 2009/07/28 09:01

According to the Fulton County Daily Report, Morris, Manning & Martin has joined the growing ranks of Atlanta-based firms cutting associate pay. The firm announced Friday that, effective Aug. 1, pay in the real estate, lending and tax groups will drop by 15 percent and pay for other associates will drop by 10 percent, according to its managing partner, Robert E. Saudek. Bonuses are not affected.

Saudek said a decline in legal work plus the readjustment of the associate salary market prompted the cuts. "Clients are not generating as much legal work, particularly in the real estate and corporate areas, as they do most years," he said in a voice mail. "Billable rates are receiving a lot of pressure, and billable hours are not as high as in prior years."

Saudek added that the market salary for associates is resetting at lower rates. He noted starting salaries increased 45 percent between 2005 and 2008, but now are declining by about 10 percent. "We feel we need to be with the market, but not above it," he said.

Starting pay at Atlanta's big firms jumped to $145,000 at the beginning of 2008. That has been followed by waves of layoffs this year.

Morris Manning has 156 lawyers, with 55 associates, according to the Martindale-Hubbell Web site.



[PREV] [1] ..[2690][2691][2692][2693][2694][2695][2696][2697][2698].. [3086] [NEXT]
All
Securities Class Action
Headline Legal News
Stock Market News
Court News
Court Watch
Legal Interview
Securities Lawyers
Securities Law Firm
Topics in Legal News
Attorney News
Legal Focuses
Opinions
Legal Marketing
Law Firm News
Investment Fraud Litigation
Amazon workers strike at mul..
TikTok asks Supreme Court to..
Supreme Court rejects Wiscon..
US inflation ticked up last ..
Court seems reluctant to blo..
Court will hear arguments ov..
Romanian court orders a reco..
Illinois court orders pretri..
New Hampshire courts hear 2 ..
PA high court orders countie..
Tight US House races in Cali..
North Carolina Attorney Gene..
Republicans take Senate majo..
Au pair charged in double ho..
A man who threatened to kill..
Ford cuts 2024 earnings guid..


   Lawyer & Law Firm Links
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Car Accident Lawyers
Sunnyvale, CA Personal Injury Attorney
www.esrajunglaw.com
Oregon Family Law Attorney
Divorce Lawyer Eugene. Family Law
www.mjmlawoffice.com
Family Law in East Greenwich, RI
Divorce Lawyer - Erica S. Janton
Post-Divorce Issues Attorney
Connecticut Special Education Lawyer
www.fortelawgroup.com
   Legal Resource Links
Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
 
 
 

The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo