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VLG counters slump with 30 per cent salary cut

Silicon Valley firm Venture Law Group (VLG) has cut pay-packets to counter the slump in its core technology venture capital market.

20 December 2001

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VLG counters slump with 30 per cent
salary cut

Silicon Valley firm Venture Law Group
(VLG) has cut pay-packets to counter the slump in its core technology venture
capital market.

The firm has cut associate pay rates by
up to 30 per cent and
although associates will receive an increased share in
the firm’s profits
the strategy will dramatically impact base
salaries.

While
salary freezes have become part of the region's legal landscape
VLG is so far
the only firm that has decided to reduce pay rates. Silicon Valley counterparts
Wilson Sonsini Goodrich & Rosati
Cooley Godward and Pillsbury Winthrop are
all understood to be considering their options regarding remuneration

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Technology