by Caroline Gabsewics
Staff Writer
The law firm of Holland & Knight recently announced new and existing associate salaries will increase in all of its offices throughout the United States. For the firm’s Jacksonville office, this marks the second time in one year that salaries have gone up.
The first increase came last June, when Holland & Knight’s Jacksonville office raised the salaries for first-year and existing associates by $10,000, including a $5,000 study stipend. The firm announced Thursday that it’s increasing salaries for new and existing associates in all 18 of its offices throughout the country, retroactive to Jan. 1.
Adolfo Jimenez, the firm’s professional development and recruiting partner, said law firms typically increase salaries every few years.
“We experienced an increase last year, and an increase in salaries happened again this year,” he said. “Popular firms are competing more than ever.
“There is a fight for talent and that is something we are committed to.”
Missy Turra, executive partner of the Jacksonville office, said Holland & Knight had a record year financially in 2006 as a result of focusing significant attention on increasing the strength and quality of its client base and attorney talent over the past several years.
“Attracting and retaining highly talented lawyers is a priority for Holland & Knight in Jacksonville,” she said. “Leading the market in terms of associate compensation is one means we use to accomplish this objective, but retaining top talent goes well beyond compensation.
“It is about properly training associates, mentoring and providing challenging opportunities for our associates to work with talented attorneys on exciting litigation matters and transactions for a very strong client base that crosses many industries.”
Before the firm’s salary increase this year and in 2006, Jimenez said the last time Holland & Knight saw a significant increase was about six years ago.
“This is simply an indication of how strongly law firms are keeping and attracting talented lawyers,” he said.
Jimenez said law is a service industry and a people business, and the Jacksonville office is a great example.
“They are all great lawyers who enjoy what they are doing and they are passionate about it,” he said.
Jimenez added the attorneys in the Jacksonville office are “truly professionals in every sense of the word.”
“The Jacksonville office is a firm we are very proud of,” said Jimenez. “They have a spirit that is of the highest caliber.”
Not only have the firms been competing more than ever, Jimenez said, but the economy has grown stronger. Compared to last year, the demand for real estate attorneys has not been as strong, but corporate attorneys have taken a step up, and litigation has consistently been strong.
Jimenez said there are many reasons why the firm had its best year financially in 2006.
“Overall we were more efficient, we hired more lawyers, and the demand for services was much higher than last year,” he said. “We were also involved in some significant transactions.”
The increase in salary puts Holland & Knight at the top of the market.
“We are the market leader in Florida,” he said.
Turra added that Holland & Knight strives to be the market leader with respect to associate salaries in the Jacksonville market and throughout Florida.
“We recognize the critical importance of appropriately compensating and rewarding our associates for their talent, dedication and economic contribution to our firm,” she said. “The salary increases that have been implemented in 2007 allow us to continue to achieve those goals.”