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03/20/06

More Philadelphia firms raising associate salaries


Schnader Harrison Segal & Lewis has joined the ranks of Philadelphia firms who have increased first-year associate salaries to $125,000.

Effective July 1, a $10,000 increase will raise salaries in all of the firm's seven offices. High-level associates are already under special salary arrangements and would be exempt from the raise. The firm plans to fund the raises through a contingency reserve in the 2006 budget and cost management techniques.

Within the past few months, a predominance of Philadelphia firms have adjusted associate salaries. Last week, Buchanan Ingersoll also increased starting pay from $115,000 to $125,000.

Korea- the next stop for leading U.S. firms
Major U.S. firms are eyeing Korea as a new destination for global expansion.
Top firms like Shearman & Sterling; Sheppard, Mullin, Richter & Hampton; Paul, Hastings, Janofsky & Walker; Orrick, Herrington & Sutcliffe; White & Case; Sidley Austin Brown & Wood; and Quinn Emanuel Urquhart Oliver & Hedges are now awaiting clearance from the Korean government to set up offices in Korea.

The U.S. and Korean governments are currently in discussions over a trade pact, and legal analysts are expecting firms to gain entry into the Korean market by the end of next year. Meanwhile, leading Korean firms like Shin & Kim and Kim & Chang have been adding large numbers of U.S. attorneys in their practices.

Lawyer Joke of the day
The Monday after St. Patrick's Day weekend can be rough. Only time and patience can cure your hangover, but maybe this lawyer joke will lighten your spirits.

As a side note, we have reviewed hundreds of lawyer jokes over the past few weeks. We have come to the realization that most lawyer jokes are just Polish jokes, blonde jokes or redneck jokes with the word "lawyer" substituted in. Why are lawyers the only group left that it is still politically correct to poke fun at?

Anyway, here is a classic example of a joke where the word "lawyer" is just stuck in there. It is, however, still a funny one. It comes to us courtesy of James Fuqua's Law Jokes
A big-city lawyer went duck hunting in rural Texas. He shot and killed a bird, but it fell into a farmer's field on the other side of a fence. As the lawyer climbed over the fence, an elderly farmer drove up on his tractor and asked him what he was doing.

The litigator responded, "I shot a duck, and it fell into this field, and I'm going to retrieve it."

The old farmer replied, "This is my property, and you're not coming over here."

The indignant lawyer said, "I am one of the best trial attorneys in the U.S., and if you don't let me get that duck, I'll sue you for everything you've got."

The old farmer smiled and said, "Apparently, you don't know how we do things in Texas. We settle small disagreements like this with the Texas Three-Kick Rule."

The lawyer asked, "What is the Texas Three-Kick Rule?"

The Farmer replied, "Well, first I kick you three times, and then you kick me three times. And so on, back and forth, until someone gives up."

The attorney quickly thought about the proposed contest and decided that he could easily take the old codger. He said, "Sure, we can do things your way."

The old farmer slowly climbed down from the tractor and walked up to the lawyer. His first kick planted the toe of his heavy work boot into the lawyer's groin and dropped him to his knees. His second kick nearly wiped the man's nose off his face. The attorney was flat on his belly when the farmer's third kick to a kidney nearly caused him to give up.

The lawyer summoned every bit of his will and managed to get to his feet. He said, "Okay, you old bastard. Now, it's my turn!"

The old farmer smiled and said, "No, that's OK. I give up. You can have the duck!"


Schnader Harrison Segal & Lewis LLP

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