Yesterday I had blogged that I had expected it to be late to the party if and when it matched the new level of associate compensation established by Milbank. The magic number was $190k for entry-level JDs. Here is that post.
Today, reports lawyer-journalist Kathryn Rubino at Abovethelaw.com, Jones Day is moving first-year and summer associates (on a prorated basis) to the new salary number of $190k.
However, it is yet unknown if and by how much more experienced associates at Jones Day will financially benefit.
Historically, points out Rubino, Jones Day's salaries have been below market rate. Also, as employees grouse on Glassdoor, that has stirred up discontent.
Overall, the internal mood doesn't mirror that of The Seven Dwarfs enthusiasm about work. After all, the long hours and complex tasks involved in being employed at BigLaw creates the expectation of BigBucks.
Therefore, there is plenty of interest in what its associates beyond the first year are being told right now.
As is well-known, Jones Day operates as a "black box." It keeps compensation numbers secret. No one knows anyone else's salary.
In addition, what goes on inside Jones Day has become very high-profile in the past few years.
That began when one of its partners Don McGahn represented the Make America Great Again campaign. The Washington Post broke the story. Many in law firms and in legal media were shocked. Later, McGahn became top lawyer at the White House. Other former Jones Day lawyers also went to work for the Trump Administration. Those developments may or may not have given Jones Day unique access to the Trump Administration.
So, every "whatever" at Jones Day continues to be an interesting story to follow.
But that got her name out there in political circles. She could be considering becoming a political player. That could happen through throwing her support to other conservative elected officials and those campaigning. Or, she could take another shot at running for some other state or federal position.
Because of Jones Day's prominent branding in Western PA, Ellsworth had received more-than-expected media coverage. The firm started about three hours away in Cleveland, Ohio. Therefore, it has been a good corporate citizen in that region for years.
Abovethelaw.com has been known to have sources within Jones Day. Therefore, information, especially about the mood of associates, will likely trickle in.
Starting in November 2005, I was able to observe and analyze how Jones Day partners, including Ellsworth, practice law. That's when I blogged the Rhode Island lead paint class action public nuisance litigation. You can retrieve that on https://janegenova.com under "legal," 11/1/05 through 2/22/06.
That courtroom drama occurred during the Golden Age of the legal sector. Later the sector went flat after the global financial crash and hasn't recovered. From May 2017 through May 2018, the industry lost 1,000 jobs. Litigation has been hardest hit. Transactional, especially in M&A, remains solid.
Reflection: Will Jones Day rebrand as transparent?
Contact Jane Genova firstname.lastname@example.org.