Brobeck freezes pay for associates

The US firm has confirmed that associates will remain at their current lockstep salary level this year.
First and second-year associates will continue to earn a basic annual salary of $135,000 (£93,600). The firm argued that, although associates would not proceed automatically up the lockstep, they are still receiving above the market rate.

Brobeck misjudged last year&#39s market when it raised first-year salaries by $10,000

Firmwide managing partner Richard Parker said that Brobeck misjudged last year's market when it raised first-year salaries by $10,000 (£6,900). He said that market forces would dictate the pace of salary increases at other firms. Should they reach $135,000, Brobeck would consider raising its salaries to keep them above those of its competitors.
The firm has been forced to adopt a number of cost-cutting measures in response to the slump in its core practice area. Corporate activity in the technology sector has dwindled, leaving the firm with a glut of highly-paid lawyers. The decision to freeze salaries follows 82 associates accepting the firm's offer of unpaid leave.