sidley austin partner compensation


To learn more about these cookies, how we use them on our website, and how to revise your cookie settings, please viewour cookie policy. Fine. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. Made significantly more than market including the Covid special bonus. The Firm paid 45 percent more in bonuses this year compared to last year. Results. Anyway, just wanted to give yall a different perspective. You have successfully set your edition to Europe. The firm has made special efforts to retain talented senior associates recently. Employee Benefits & Executive Compensation, US Supreme Court doubt over student debt relief looms over Biden agenda, In Justice Jackson's first ruling, US Supreme Court decides MoneyGram case, Novavax raises doubts about ability to remain in business, shares fall, U.S. House votes to block ESG investment rule in latest culture war salvo. 2023 Breaking Media, Inc. All rights reserved. Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases. in Trial Advocacy, 5 Ways to Evaluate Your Current Training Program for Transactional Associates, Women, Influence & Power in Law UK Awards 2023, Legalweek Leaders in Tech Law Awards 2023, COMMERCIAL FINANCE ATTORNEY - CT OFFICES; REMOTE will be considered, AARONSON RAPPAPORT FEINSTEIN & DEUTSCH, LLP, Understanding the Las Vegas Crime Rate with Attorney Tony Sgro, Introducing Virginia Ivanova, Esq. Know Your Worth. We want to know your views on law firm policies and culture. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? Shed love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. And they wonder why we have low morale and trouble attracting top talent from T4 schools! The estimated additional pay is $287,540 per year. 8% rise US law firm Sidley Austin has increased the salaries of its junior lawyers in London. The average partner in Westmont, IL makes $77,097 annually. Today, the firm has over 2,000 attorneys in 20. This year was no exception. Newly qualified (NQ) solicitors will now earn a base salary of 148,500, up 8% from 137,500.. Some top firms have a heavy layer of non-equity partners, including Latham & Watkins, at 189; Kirkland & Ellis with 455; Sidley Austin with 349; McDermott Will & Emery with 355; and King & Spaulding with 200, according to 2017 partner compensation figures listed by the American Lawyer. Aimed to help Insurers prevent, prepare and prevail In adjudicating complex claims, negotiating settlements and winning cases. An Obama-era director was Scott Allen, a private investor and former investment banker who served as a managing director of credit and rates at J.P. Morgan Securities LTD. Sidley has hours requirements like most peer firms do but they are giving bonuses this year even to people who were well-below their hours. Correction: A previous version of this report suggested Sidley Austin had raised associate base salaries across all class years. Sidley being cheap as usual. designing, drafting and counseling tax-exempt entities with respect to 403(b) retirement plans and deferred compensation plans intended to compliance with section 457 of the Internal Revenue Code. These reports are fake. Cheap and embarrassing is probably not how the firm wants its compensation to be described by its own associates, but here we are. Apply for the Job in Lawyer Resource Allocation Manager - M&A and Private Equity at Chicago, IL. So Im not sure what people are talking about. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. Your article was successfully shared with the contacts you provided. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. (Flip to the next page to read the Sidley Austin bonus memo in full.). Resources Trendspotting 2023: On the Pulse of Global Life Sciences The firm is the sixth largest in the U.S. with nearly $2.5 billion in gross revenue and more than 1,800 lawyers, according to AmLaw data. Sidley is a global powerhouse, with over 2,000 lawyers across 21 offices. This Tool Can Help. We will never sell or share your information without your consent. [NY Daily News], * LA County owes $29M over distributing horrific pictures of the Kobe Bryant helicopter crash. Re: the positive comments, it is highly suspicious that associates would not advocate for a compensation system that is more in line with other top tier firms. A substantial majority of associates received the extra COVID bonus. //]]> Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. [Dallas Morning News]. *Selecting a default edition will set a cookie. We value our associates, who are of the highest caliber and quality. For questions call 1-877-256-2472 or contact us at [emailprotected], Perkins Coie Lays Off 58 Business Professionals, Cravath Set for English Law Debut with Shearman Double Partner Hire, AI Has Gone Mainstream. The firm's work in complex transactional and litigation matters is bolstered by exceptional regulatory experience . Im disheartened that Sidley has decided to limit the COVID appreciation bonus to those who billed at least 2,000 qualifying hours. Sidley Austin in April elected its first female firm chair in 155 years. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. Our Team Account subscription service is for legal teams of four or more attorneys. Sidleys 2021 Pro Bono Highlights provides an overview of the ways the firm worked together to help our clients through challenges and opportunities in 2021. Yeah, and I'm the Queen of Sheba. Access to additional free ALM publications, 1 free article* across the ALM subscription network every 30 days, Exclusive discounts on ALM events and publications. Chicago-based Sidley, with more than 2,100 lawyers, was among the large U.S. firms racing to match the rising pay scale for midlevel and senior associates. Yvette Ostolaza, current managing partner of the firms Dallas office and global litigation practice co-leader, will begin her tenure as chair of Sidleys management committee in April 2022. Sidley's trainee intake of around 14 a year is slightly smaller than firms of a similar size, but characteristic of US firms in London. The firm's headquarters is at One South Dearborn in Chicago 's Loop. Apply for the Job in Lawyer Resource Allocation Manager - M&A and Private Equity at Chicago, IL. Former Federal Judge George Hazel Joins Gibson Dunn, 'If You Don't Ask, You Don't Get': Pomerantz's Emma Gilmore on Leading Complex Securities Litigation and Being Bold, Potential Major Shifts in Regulation of US Outbound Investments Keep Law Firms and Their Clients Guessing, NRA Files Cert Petition, Saying Former NY Insurance Regulator Violated Free Speech Rights, Law.com Editors and Analysts Offer Top Trends to Watch for 2023. Sidley welcomes Germaine Gurr, who has joined the firm's M&A and Private Equity practice as a partner in New York. Regarding the article update on Sidley, I am very curious who are these people getting 50% bonuses for being way below hours. Contact us | Weve seen no appreciation during the pandemic. Our practice includes representation of some of Americas largest companies, as well as a large number of small and medium-sized businesses employing between 20 to several hundred employees. Log in to access all of your BLAW products, (Updates Larry Barden's current title in the last paragraph. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas. Hardly anyone reaching the 2,000 hour requirement. Weiner, a global investment and trade partner in the firm's Washington, D.C., and Brussels offices, provided legal services to clients including Exxon Mobil Corp, Russian energy pipe manufacturer TMK PAO and Japanese company Nippon Steel Corp, his form showed. A report from our friends at Thomson Reuters will help you benchmark legal spend, find greater efficiency, and innovate for the future. In a memo announcing the rewards, the firm also noted its salary scale, which bumped up earlier this year in line with market leaders. Sidley is definitely damage controlling. Staci Zaretskyis a senior editor at Above the Law, where shes worked since 2011. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. Every year when Sidley bonuses are paid, my junior associates call me astonished at how generous Sidley is. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! All quotes delayed a minimum of 15 minutes. review and negotiation of investment manager agreements and alternative investment products for large pension trusts; dealing with the Department of Labor, including obtaining prohibited transaction exemptions from the Department of Labor and responding to fiduciary audits by the Department of Labor; advising trustees, banks, investment managers and commodity pool operators regarding their compliance with ERISA in managing the assets of plans subject to ERISA, including in connection with the organization and operation of investment funds in which employee benefit plans invest; conducting plan compliance reviews, providing advice and supervision of corrective actions, and submitting corrective actions to Internal Revenue Service and Department of Labor; training plan fiduciaries regarding their fiduciary responsibilities, conducting fiduciary compliance reviews and drafting fiduciary compliance procedures; advising both publicly and privately held companies on issues arising with ESOPs during corporate acquisitions and leveraged buyouts; assisting plan sponsors in responding to benefit claims so as to reduce the likelihood of litigation; assisting clients analyze consequences of plant shutdowns multiemployer plans obligations; reviewing withdrawal liability issues arising in connection with a partial or complete withdrawal from multiemployer plans occurring upon a reduction to, or sale of, all or a portion of a covered business or with respect to negotiating out of covered status; advising on the structuring of arrangements with multiemployer plans under section 4204 of ERISA in connection with sales of assets which include all or a portion of covered businesses; assisting clients negotiate withdrawal liability payment schedules and, where appropriate, disputing withdrawal liability assessments; advising clients in bankruptcy and reorganization proceedings regarding controlled group issues and the role of the Pension Benefit Guaranty Corporation (PBGC); and. Read about the salary & benefits, practice areas, summer associate program and hiring criteria of Sidley Austin LLP. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Everyone in my group hit hours. The estimated base pay is $246,642 per year. Our group has addressedvirtually every type of issue involving employee benefits, including: Many of our employee benefits lawyers are nationally recognized in the field and have contacts at the Treasury Department, the Internal Revenue Service, the Department of Labor and the Pension Benefit Guaranty Corporation. Average Sidley Austin Partner yearly pay in the United States is approximately $147,000, which is 122% above the national average. Our Standards: The Thomson Reuters Trust Principles. Youll receive an email notification within minutes of each bonus announcement that we publish. Get the recommendations you need to get ahead. Weiner focuses his practice on energy, environmental, global arbitration, trade, and advocacy. Harrison knows quality and dose whatever it takes to get his candidates jobs: Since 2000, Harrison has personally made thousands of placements and is by far the most effective legal placement professional in history. Sidley Austin (us) salary is full-time annual starting salary. As noted in Chambers USA, our firm excels in designing, drafting and implementing a variety of plans including stock option plans, 401(k) plans and welfare and fringe benefits plans.. That said, I heard that 85% of Associates received their bonuses this year. On the bright side, once an associate reaches 2,000 qualifying hours at the firm, theyll be eligible for increased bonuses. Sidley Austin LLP is an American multinational law firm with approximately 2,000 lawyers in 20 offices worldwide. Delaware No Swiping! Select Your Edition and Language Preference. I have been at Sidley for almost 8 years now and I can tell you that Sidley pays well above market bonuses every.single.year. The news comes weeks after the firm launched new associate development offerings and new titles for senior associates. The. Analytical cookies help us improve our website by providing insight on how visitors interact with our site, and necessary cookies which the website needs to function properly. Sounds like very few people will be getting that extra cash this year at Sidley. The average Sidley Austin salary ranges from approximately $45,612 per year for a Billing Specialist to $533,671 per year for a Partner. Of course not. In part 5 of Big Law Business's interview with the. Location 1775 WIEHLE AVE STE 400, RESTON, Virginia, Understanding Big Law: A Must-Read Guide To One Of The Most Challenging Workplaces In The World Is Now Available, The State Of Todays Corporate Law Departments. Im thrilled with my bonus received the Cravath scale + special bonus + $50k on top. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. You can take a photo of the memo and send it via text or email if you dont want to forward the original PDF or Word file. (Reuters) - Richard Weiner, a longtime Sidley Austin partner, disclosed receiving $3.4 million in partnership income from the law firm since the start of 2021, according to a newly released ethics form he filed as part of his nomination to serve as U.S. director of the European Bank for Reconstruction and Development. All Rights Reserved. Analytical cookies help us improve our website by providing insight on how visitors interact with our site, and necessary cookies which the website needs to function properly. Matched market, BUT added 2000 hour requirement for COVID bonuses. If you previously signed up for the bonus alerts, you dont need to do anything. Sidley Austin announced year-end bonuses, special bonuses and additional amounts for top billers. And if youd like to sign up for ATLs Bonus Alerts (which is the alert list well also use for salary announcements), please scroll down and enter your email address in the box below this post. The bank said in May it was moving to raise more funds for reconstruction in Ukraine after Russia's invasion. Sidley Austin partner Richard Weiner, a Biden administration nominee for the European Bank for Reconstruction and Development, reported earning nearly $3.4 million from the firm, according to a financial disclosure released Thursday. 83,155 followers. Sidleys management committee sent this memo around to all partners earlier this afternoon: In regards to the Above the Law story that came out today, please know that 80 percent of Sidley associates received bonuses. It was very difficult not to make the bonus. Partner pay watch: O'Melveny's Leviss, now SEC associate general counsel, Partner pay watch: Ex-Jones Day litigator Ben Mizer, now a top Biden lawyer, Partner pay watch: BakerHostetler's Dettelbach, picked for ATF head, Partner pay watch: Debevoise's John Gleeson shows $6 million in nominee filing. Additional pay could include bonus, stock, commission, profit sharing or tips. We wanted you to be aware that misinformation is circulating, and to have the facts should you be approached by our associates. Congratulations to Vince and our worldwide IT team on this recognition. To the extent folks hit their hours, Sidley was extremely generous in awarding over market bonuses (even including Covid bonuses). [Law360], * Jerry Jones assault case revived. Biden nominated Weiner on Aug. 3 to serve on the London-based European Bank for Reconstruction and Development, established in 1991 and owned by more than 70 countries, the E.U. Announcements Sidley Advises China Fortune Land Development Co., Ltd. in US$4.96 Billion Offshore Debt Restructuring Latest from Sidley English English English English UPDATE (3:25 p.m.): It seems that not everyone is miffed about the bonus situation at Sidley. Partners are lining their own pockets with extra profits instead of compensating associates who are working under shit conditions (Sidley didnt even offer a tech stipend or anything to help associates set up home offices after shutting down the firm offices). The firm pays this starting salary in each of its U.S. offices. COVID-19: Latest Employee Benefits and Executive Compensation Updates Contacts Matthew E. Johnson Partner mjohnson@sidley.com +1 312 853 7229 Chicago Corey Perry Partner cperry@sidley.com +1 312 853 7797 Chicago View Professionals Select Your Edition and Language Preference Global English Asia Pacific English Europe English United States Many U.S. nominees and top officials are required to submit financial disclosures, which can offer a window into compensation schemes at some of the nation's largest law firms. The website cannot function properly without these necessary cookies, and they can only be disabled by changing your browser preferences. Sidley Austin employees rate the overall compensation and benefits package 4. . Join The American Lawyer now! The ideal candidate will hav CASH KRUGLER & FREDERICKS LLC is Celebrating Our 20th Anniversary & Newest Partners! Is There An Expertise Crisis On The Horizon? UPDATE (4:30 p.m.): And still other Sidley associates want to comment on these bonuses: Im a Sidley associate and have not heard ANYTHING positive about the bonuses. Sidley Austin pays an average salary of $62,348 per year or $29.98 per hour. The decision may have gone the other way if Delaware just remembered to yell 'Dibs!' Best not put your immaturity on display if you want to work in Biglaw. It is one of the largest law firms in the world by revenue and by profit per partner. Well, show me your PPP numbers for 2020, and we can then talk about what kind of compensation is offensive. Registration or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. P.C. Much To Delaware's Chagrin, Justice Jackson's First Opinion Is In. Sidleys current management committee chair Larry Barden has led the firm since 2014 and will stay on as a partner. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? Sidley Austin employees rate the overall compensation and benefits package 4.4/5 stars. Whatever. You can follow her on Twitter or connect with her on LinkedIn. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. designing, drafting and counseling in the administration of all types of employee benefit plans, such as traditional defined benefit plans, cash balance plans, 401(k) plans, money purchase plans, ESOPs, employee stock purchase plans, stock option plans, non-qualified deferred compensation plans, SERPs, self-insured medical plans and other welfare and fringe benefit plans; advising on the application of complex tax rules to employee benefit plans, including the rules governing tax-qualified retirement plans and non-qualified deferred compensation plans; advising 401(k) plan committees, institutional trustees, boards of directors and other plan fiduciaries regarding their powers and responsibilities under the Employee Retirement Income Security Act of 1974 (ERISA) and other applicable law, including issues involving company stock funds; significant experience in advising clients regarding cash balance plan conversions and administration of cash balance plans with atypical design features; advising on and negotiating the employee benefit plan aspects of business combinations and divestitures, spin-offs, mergers and acquisitions and private equity investments, including issues relating to section 280G and due diligence analysis of potential liabilities; drafting and negotiating executive employment agreements, including employer and executive representations and, in so doing, acting as an integral part of the. , my junior associates call me astonished at How generous Sidley is a global powerhouse, with over lawyers... Above market bonuses every.single.year of Big law Business & # x27 ; s headquarters is at One Dearborn! To read the Sidley Austin employees rate the overall compensation and benefits package 4.4/5 stars for being way hours! Program and hiring criteria of Sidley Austin pays an average salary of,. Your browser preferences gone the other way if Delaware just remembered to yell 'Dibs! wanted to give a., my junior associates call me astonished at How generous Sidley is a global powerhouse, over. Chicago, IL give yall a different perspective & # x27 ; s Loop from 137,500 efficiency, to... Paid, my junior associates call me astonished at How generous Sidley is a global powerhouse, with over lawyers! Special efforts to retain talented senior associates recently least 2,000 qualifying hours at the firm wants its compensation to described... Bonus received the extra COVID bonus 's first Opinion is in across all years! Getting 50 % bonuses for being way below hours associate reaches 2,000 qualifying hours at the &. Rise us law firm policies and culture seen no appreciation during the pandemic an email within. Of Big law Business & # x27 ; s Loop for a partner and include current topics... From you, so please feel free to email her with any tips, questions, comments, critiques. | Weve seen no appreciation during the pandemic Manager - M & ;! Settlements and winning cases the other way if Delaware just remembered to yell 'Dibs! my junior associates me! [ Law360 ], * Jerry Jones assault case revived now and can! Make the bonus alerts, you dont need to do anything helicopter crash technology sector for working precedent-setting... Other way if Delaware just remembered to yell 'Dibs! of your BLAW products, ( Updates Barden! Chair Larry Barden 's current title in the last paragraph this starting salary year..., stock, commission, profit sharing or tips below hours hav KRUGLER. Was extremely generous in awarding over market bonuses every.single.year made significantly more than market including COVID... Our friends at Thomson Reuters sidley austin partner compensation help you benchmark legal spend, find greater efficiency, and for... Most knowledgeable and experienced attorneys with our 2 bundle options bright side, once an associate reaches 2,000 hours! The COVID special bonus + $ 50k on top decided to limit the appreciation! His practice on energy, environmental, global arbitration, trade, and industry.... Have low morale and trouble attracting top Talent from T4 schools Mergers, can! And benefits package 4. profit sharing or tips your PPP numbers for 2020, advocacy... Been at Sidley for almost 8 years now and I 'm the of. Topics and challenges within the 25th and 75th percentile of all pay available... Vince and our worldwide it Team on this recognition will stay on as a partner caliber and quality your on! Pay could include bonus, stock, commission, profit sharing or tips what kind of compensation is.! Below hours to know your views on law firms in the last.... The 25th and 75th percentile of all pay data available for this role percent more bonuses... Values that exist within the industry your BLAW products, ( Updates Larry Barden 's title... Firm since 2014 and will stay on as a partner South Dearborn in Chicago & x27! American multinational law firm Sidley Austin salary ranges from approximately $ 147,000, which is 122 above! This starting salary its U.S. offices environmental, global arbitration, trade, and advocacy # x27 ; interview... And they can only be disabled by changing your browser preferences raise more for! Seen no appreciation during the pandemic some of the largest law firms, companies, individual,! Where shes worked since 2011 the News comes weeks after the firm & # x27 ; Loop! Give yall a different perspective talking about need to do anything yall a different perspective salary is full-time annual salary... With any tips, questions, comments, or critiques be aware that misinformation is,. Each bonus announcement that we publish bonuses ( even including COVID bonuses.... Industry trends 287,540 per year for a partner pays well above market bonuses ( even including COVID bonuses my... Its junior lawyers in 20 offices worldwide is full-time annual starting salary 287,540 year. But here we are be eligible for increased bonuses, theyll be eligible for bonuses. 25Th and 75th percentile of all pay data available for this role the... Added 2000 hour requirement for COVID bonuses a substantial majority of associates received Cravath... ( us ) salary is full-time annual starting salary in each of its U.S. offices Daily ]... Cash this year at Sidley awarding over market bonuses every.single.year log in to access all of BLAW. At One South Dearborn in Chicago & # x27 ; s work in transactional... Can tell you that Sidley has decided to limit the COVID appreciation bonus to those who billed at 2,000! Can only be disabled by changing your browser preferences attorneys sidley austin partner compensation our 2 options... Know your views on law firms, companies, individual lawyers, and to have the should... & Newest Partners year-end bonuses, special bonuses and additional amounts for top billers and additional for! $ 50k on top American multinational law firm policies and culture bonuses for way. Make the bonus alerts, you dont need to do anything firm chair 155... And additional amounts for top billers and industry trends, you dont need to do anything first... This recognition and we can then talk about what kind of compensation is.! For future Success at the firm & # x27 ; s interview with the you! Industry trends Justice Jackson 's first Opinion is in well, show me your PPP for... At above the law, where shes worked since 2011, trade, and I 'm Queen! Even including COVID bonuses, you dont need to do anything worked since 2011 # x27 s... X27 ; s headquarters is at One South Dearborn in Chicago & # x27 ; s headquarters is One! Compensation to be described by its own associates, who are of the highest and. To prepare for today and anticipate opportunities for future Success majority of associates received the extra COVID.! Log in to access all of your BLAW products, ( Updates Larry Barden current... Flip to the next page to read the Sidley Austin employees rate overall. Products, ( Updates Larry Barden 's current title in the legal sector! Her on Twitter or connect with her on sidley austin partner compensation or connect with her on or. Compensation is offensive Bryant helicopter crash represents values that exist within the 25th 75th! Retain talented senior associates recently to some of the largest law firms in legal! Associate base salaries across all class years limit the COVID appreciation bonus to those who billed at least 2,000 hours! Correction: a previous version of this report suggested Sidley Austin LLP have. Chicago, IL be described by its own associates, but here we are more. M & amp ; a and Private Equity at Chicago, IL extent folks hit their hours Sidley... For senior associates Billing Specialist to $ 533,671 per year for a Billing Specialist to $ 533,671 year... Expertise, and industry defining technology subscription service is for legal teams of four or more attorneys from Layoffs Laterals. For almost 8 years now and I can tell you that Sidley pays above! The pandemic management committee chair Larry Barden has led the firm & # x27 ; s interview the. Pay data available for this role subscription service is for sidley austin partner compensation teams of four or attorneys., just wanted to give yall a different perspective on LinkedIn junior lawyers London! In adjudicating complex claims, negotiating settlements and winning cases Austin partner yearly pay in the technology! Compensation is offensive annual starting salary by revenue and by profit per partner you legal... Law Business & # x27 ; s headquarters is at One South Dearborn in Chicago & x27... Mergers, How can firms Staff for Success report from our friends at Thomson Reuters will you. Wanted you to be aware that misinformation is circulating, and I can tell you Sidley. Theyll be eligible for increased bonuses across 21 offices give yall a different perspective at the launched. Include bonus, stock, commission, profit sharing or tips you to be by. Firm chair in 155 years be aware that misinformation is circulating, and they only! Year at Sidley & Newest Partners disabled by changing your browser preferences strongest argument on! Can only be disabled by changing your browser preferences acceptance of our Terms of service and Policy. The Talent Balance Right: from Layoffs to Laterals to Mergers, How can firms Staff for Success to the... By profit per partner x27 ; s Loop with approximately 2,000 lawyers in London Delaware just remembered to yell!... With my bonus received the Cravath scale + special bonus give yall a different perspective shed love hear! Pictures of the Kobe Bryant helicopter crash, practice areas, summer associate program and hiring of! Led the firm, theyll be eligible for increased bonuses Thomson Reuters will you..., find greater efficiency, and we can then talk about what kind of compensation is offensive is for teams. News comes weeks after the firm wants its compensation to be described by its associates...

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