Is the east coast dead?
- $145,000 For Silicon Valley 1st-Years<br>New York
Law Journal<br>December 27, 1999 <br><br>A Silicon
Valley firm is now by far outpacing all New York firms
except Wachtell, Lipton, Rosen & Katz on the associate
salary front. With increases that take effect Jan. 1,
first-year associates at Menlo Park's Gunderson Dettmer
Stough Villeneuve Franklin & Hachigian, a corporate
boutique, will earn a base salary of $125,000 plus a
guaranteed minimum bonus of $20,000 next year. Fourth-year
associates, with base salary and bonus combined, will make
$195,000 and seventh-year associates will earn $235,000.
Associates will also have the potential to earn
discretionary bonuses of between $5,000 and $15,000 per year.
The move seems designed to prompt a flood of resumes
from New York lawyers. Adding a message to them in
announcing the new salaries, partner Steven Franklin said,
"You may be happy as a clam sitting ... on the East
Coast, but that's not where the action is.
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