“Smaller law firms begin shaving first year salaries,” an April 24 Boston Business Journal article, quoted Paul E. Clifford on the pressures to reduce associate salaries and move towards more merit-based compensation structures.
From the article:
“More firms will likely follow suit, said Paul Clifford, principal at Law Practice Consultants LLC in Boston. ‘Firms that got themselves into this bind — it was almost like there was a never-ending cycle of having constant salary increases,’ Clifford said. ‘I think it’s the beginning of a sea change. It’s all part of the changes that are coming in terms of how the practice of law will be in the future. And salary structures are part of that.”