It would be outrageous for Gadens to freeze our pay, given that so much of our income is tied up in performance bonuses. I cant speak for others, but my wage is significantly lower than what friends at comparable firms are paid, and only once I achieve my performance target over several months is parity restored. It goes without saying that when the GFC arrived, reaching my target became virtually unachievable… This is almost a kind of pay freeze in itself.
It is unclear whether this source is a junior or senior solicitor, but it is quite apparent that, if true, this method of market-tied remuneration is less immune from the GFC than most. A kind of micro-partnership slice, if you will. Should solicitors bear this risk allocation? We invite further comments from other Gadens staffers.
Loading...
