Dallas-based Winstead has announced it will not be joining the other Texas firms that raised associate salaries. The new salary scale is effective today at Vinson & Elkins, the firm that started the move to $160,000 for 1st-years, and $170,000 for 2nd years. Winstead will continue to pay a starting base salary of $135,000, and will instead offer a merit-based bonus of up to $25,000. Denis Braham, chairman and chief executive officer of the firm, commented on the decision saying that Winstead would prefer to reward individual associates based on their contributions. He feels that bonuses will keep the firm competitive, attracting associates with a long-term view and who want to be rewarded for hard work.

Source: www.law.com