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As Latham goes, so goes the market

By Richard Binder

pLatham amp; Watkins said Tuesday it will freeze associate salaries in response to quot;challenging economic times,quot; a move that could signal the rest of the industry to follow suit, observers said./pp?All associates moving to the next class year on January 1, 2009, will continue to receive the same base compensation as they received in 2008,? Latham Chairman Robert Dell said in a statement released by the firm./ppMost associates would have seen their pay go up by $10,000 to $25,000 on Jan. 1, depending on their class. Now, both first- and second-years will receive $160,000 in 2009./ppquot;Everybody#39;s been waiting for some kind of signal from the market leader,quot; said consultant Peter Zeughauser, founder of The Zeughauser Group. quot;This will be a profound signal to the market about what to do.quot;/ppSee a href=http://www.law.com/jsp/article.jsp?id=1202426820609these/a a href=http://abovethelaw.com/2008/12/latham_watkins_salary_freeze.phpstories./a/p

Full post as published by Legal Pad | LA on December 17, 2008 (boomark / email).