It’s that time of year again: partners are in a tizz about billing targets, secretaries are getting antsy over unbilled time and lawyers are generally working too hard. Given the EOFY party season, it’s also the time of year when pay arrangements for the coming financial year tend to come to light.
In what will come as sad news for the Bakers staffers among us, the Firm Spy can today exclusively reveal that, despite ranting as recently as April that there would be no salary reduction, the Australian offices of international law firm Baker & McKenzie are presently subject to a pay freeze.
We received the following information from a Bakers spy earlier in the week:
we were told about a month ago that there would be a pay freeze this year. Performance reviews are largely finished now and I understand that there have been a handful of exceptions, but not many.
A pay freeze would bring Baker & McKenzie into line with its other major competitors, if true. Other major national firms to have announced a pay freeze include: Mallesons, Allens, Freehills, Minter Ellison, Corrs Chambers Westgarth and Clayton Utz.
Is your firm freezing pay? Let the Firm Spy know first!
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