Fenwick & West pegs salaries to market rate

Silicon Valley firm Fenwick & West has frozen salaries for most of its 250 members of staff in an effort to bring them in line with market rates.
Not all staff will be adversely affected, as some will receive adjustments to bring their salaries up to market rates. Current salary increases based on merit will not take place.
The move is the outcome of the firm’s review of the April 2003 Watson Wyatt survey on law firm earnings by region. It included details of more than 12 Silicon Valley firms. The report highlighted that staff salaries laid down in March 2002 remained competitive in the Valley’s current legal market.
Fenwick co-managing partner Laird Simons III said that a minority of staff would receive a salary boost.