Rumour of Possible Mallesons Pay Freeze

The Firm Spy has received a report suggesting that ‘perennial’ heavyweight Mallesons Stephen Jaques is considering a pay freeze by stealth.

We received the following anonymous tip this evening:

Mallesons has taken to setting new lows in its performance review process this year… the approach at Mallesons is not to announce a salary freeze, but to rate 75% of the lawyers as below average — therefore, effectively achieveing a salary freeze by stealth. “We can achieve the same result without announcing it to the market. We just need to performance manage hard”, said one Mallesons staff partner.

While the Firm Spy has been unable to confirm this claim, if true, it would effectively amount to a pay freeze, eerily similar to PwC’s recently announced “leave of absence”.  One by one the cards have folded.

Freehills was first off the mark in announcing a pay freeze. Then Allens Arthur Robinson, after making the unpopular decisions to sack the tea-ladies and cancel the firm Christmas party, also froze pay and offered voluntary redundancies. Next Minter Ellison, after blowing its budget on seasonal clerk fashion models, decided that a pay freeze was also prudent in the circumstances. Finally, the Firm Spy revealed that Clayton Utz had also announced a pay freeze, despite media articles to the contrary.

Enter Mallesons?  More updates as they come to hand.

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