New associates at Morrison & Foerster, affectionately known as MoFo, got news of a pay cut yesterday.
First year salaries will decrease to $145,000 from $160,000 at all firm offices other than those in New York and Asia. MoFo is an international firm, but is known for its California roots.
Above The Law broke the news yesterday, citing a firm statement that also said the firm would be monitoring “larger market developments.”
We are interested to know how concerned associates are about the decrease. Sure no one wants to be $15,000 poorer, but $145,000 still is not a bad place to start, even in California.
The statement did not indicate any changes to salaries other than for first years. We’ve reached out to MoFo to see if any changes are planned for older associates.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.