Being a fresh-faced lawyer at a big firm still pays well, just not quite as well.
Richmond-based law firm Hirschler Fleisher is cutting associate pay 6 percent starting in January, according to a source close to the firm.
The company did not return emails seeking confirmation or comment.
Associates earn different salaries at the firm. Associates that started in 2008 earned around $105,000, so a 6 percent cut would be a pay cut of around $6,300 – still a nice salary.
Hirschler Fleisher is not the only firm lowering pay.
Williams Mullen in October said it would cut associate salaries by 7.5 percent, effective in January, to $117,000, according to the law blog Above the Law.
In March, McGuire Woods said they are cutting salaries of this year’s incoming class by 10 percent.
One gets what one pays for.