Managing partners have been complaining for years about increasing associate salaries, though it ultimately became a good marketing tool to be the first in town to raise them. The same rules don't apply now that the pendulum is swinging the other way. The first to take an ax to associate compensation risks falling out of favor with law schools and future recruits. However, many now see a compensation cut as a smart business decision that would serve as a "market correction."
How Low Could Associate Salaries Go?
The Legal Intelligencer
April 8, 2009