Cold economy blasts law firm salaries with freezes

01/25/2009 | NYTimes.com

The struggling economy has caused law firms to enact salary freezes for associates and to reconsider traditional bonus payments. Leaner bottom lines are making it more difficult for even large firms to entice talented newcomers with irresistibly attractive sign-on packages. Coupled with pressure to contain hourly billing rates, profitability is regarded as an ongoing challenge in the current market.

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