In the past couple of weeks, several top law firms have announced that they are changing the salaries they will pay starting associates back to $160,000. Similar changes are expected, because all law firms are committed "to the market."
It seems like only yesterday that the elite of BigLaw were falling over themselves to tell their clients that they were changing structurally, that they had heard their clients’ loud messages that they were not getting value from entry level lawyers and so on. Apparently what these law firm elite heard was "blah, blah, blah, yada, yada, yada."
Remember how tone deaf we all thought the CEOs of the Big Three Automakers were when they flew their private jets to Washington when asking Congress for some bailout money? There you go.