Wake Up Call: Steptoe to Cut Pay for ‘Under-Budget’ Associates

In today’s column, salaries for public sector attorneys are up but still lag those for the private sector; London-based Ashurst is opening an Austin, Texas office, its third in the US; Baker McKenzie is still the top US firm by headcount.

• Leading off, Steptoe & Johnson LLP is giving some associates Cravath-level raises, but it’s cutting pay for under-performing associates, legal blog Above The Law reported. The Washington-based firm said it will match the full Cravath scale, which runs from $215,000 to $415,000 depending on year of seniority, starting July 1. However, the firm said a “small number of associates” ...