Cooley Godward has frozen associate salaries in a further attempt to rein in costs
Associate lockstep salaries will remain as they were last year for all except second-year associates. Second-year associates can expect a $5,000 (£3,530) increase to their current $125,000 (£88,270) salary. This raise addresses the problem of first and second-year associates earning the same base rate following the freeze. Chief operating officer Mark Pitchford said that by holding back salaries, Cooley Godward has a competitive advantage. He added that it gave the firm more leeway for end of year bonuses. The decision is the firm's latest effort in a series of cost-cutting measures. It became the first firm in the region to make significant cuts to staff numbers when it laid off 86 associates in August.