The Pittsburgh-based law firm Reed Smith is delaying hiring new attorneys, who will see their entry-level salaries cut by nearly 20 percent when they join the firm in January.
Eight new attorneys in Pittsburgh will earn $110,000 annually, instead of $135,000, the starting rate for new attorneys hired last year. New attorneys in larger markets like Chicago, New York or Washington, D.C. will earn $130,000, instead of $160,000.
Reed Smith employs about 1,600 attorneys in 23 offices worldwide. The firm plans to hire 51 associates next year for its 15 U.S. offices.
Those attorneys will join the firm in January, instead of this past September. The hirings were delayed, and the starting salaries reduce, because of the economic downturn.