In Abovethelaw, lawyer-journalist Kathryn Rubino reports that Jones Day has resisted following other law firms in increasing entry-level associate salary to $180K. At least so far.
Many who follow the business of the legal sector know that Jones Day is an atypical law firm. And proud of that unique positioning and packaging.
Its organizational culture is built on extreme loyalty to the practice of law. You are not hired to simply practice law. Instead you are allowed into the priesthood of those whose mission is to serve the law through serving clients.
Compensation is secretive. Supposedly no one knows anyone else's salary. But that rite and ritual might have been nurtured to keep compensation lower than average. On Glassdoor, some grouse about money.
The issue is: Can Jones Day continue to attract and keep talent if it doesn't fall in line with the Cravath bump?
Underlying that is another issue: Is this law firm in trouble? Did it take on the Make America Great Again campaign as a client because it needed Donald Trump's money, at least at the time?
Since the Real Clear Politics Average of several polls has Trump behind Hillary Clinton by 5.8 points, that move might have long-term negative effects. Should Trump lose, will Jones Day lose face? And business?
Many of us are still wondering why superlawyer Mark Herrmann left for Aon when he was a partner at Jones Day?
There's every reason to put the spotlight on what Jones Day might be up to. Should The Donald win in November, Jones Day will be hailed as the fastest and smartest gun in the Midwest. History is written by the winners.