Wiley Rein- Weird salary structure for first years?

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Anonymous User
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Wiley Rein- Weird salary structure for first years?

Postby Anonymous User » Tue Oct 05, 2010 2:23 pm

From their website:

"...the firm has a two-tiered salary structure based on billable-hours level—the current first-year salary levels are $125,000 at the 1,800 billable-hours level and $160,000 at the 1,950 level"

Is this common? Dont most biglaw gigs pay $160k- what's this $125k business?

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Cavalier
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Re: Wiley Rein- Weird salary structure for first years?

Postby Cavalier » Tue Oct 05, 2010 2:37 pm

I think most firms only have one tier, but some firms have two or even three tiers. However, the structure of these tiers is usually designed to lure you to the top tier. For instance, at Wiley, if you bill only 8.3% more hours, you'll get a 28% increase in salary, so you'll have a strong incentive to bill 1950 hours.

When I researched Wiley, I read that as a result of the recession, some associates were unable to hit the 1950 target, which meant they only received $125,000 for the year. I have no idea whether that was a common occurrence, but it's something to keep in mind.

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Re: Wiley Rein- Weird salary structure for first years?

Postby Anonymous User » Tue Oct 05, 2010 2:48 pm

Thanks Cavalier. I was looking at NALP and the average billable hours for associates was 1804. Not sure if this is accurate, because it also says the average time spent at work was 2200 or so- thats about 40hr/wk. How reliable is this? Yes, its definitely something I'm just realizing now that I should consider. My other firm only has one tier and pays $135,000 for first years. Tough call. I thought NALP data was really reliable- but those numbers seem off to me?

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rayiner
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Re: Wiley Rein- Weird salary structure for first years?

Postby rayiner » Tue Oct 05, 2010 2:51 pm

Wiley Rein has a two-tier salary structure. You can elect to be on the $160k Tier and try to hit a target of 1950 hours or on the $125k tier and try to hit a target of 1800 hours. Nearly everyone chooses the $160k tier. This model is not (or at least was not) completely unusual in DC firms.

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DukeCornell
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Re: Wiley Rein- Weird salary structure for first years?

Postby DukeCornell » Tue Oct 05, 2010 3:15 pm

Cavalier wrote:I think most firms only have one tier, but some firms have two or even three tiers. However, the structure of these tiers is usually designed to lure you to the top tier. For instance, at Wiley, if you bill only 8.3% more hours, you'll get a 28% increase in salary, so you'll have a strong incentive to bill 1950 hours.

When I researched Wiley, I read that as a result of the recession, some associates were unable to hit the 1950 target, which meant they only received $125,000 for the year. I have no idea whether that was a common occurrence, but it's something to keep in mind.


I’m curious about the quality of life for the lawyers working to obtain 1950 billable hours. Is it all work and no play? If so, give me the 125k. :cry:

ToTransferOrNot
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Re: Wiley Rein- Weird salary structure for first years?

Postby ToTransferOrNot » Tue Oct 05, 2010 3:21 pm

DukeCornell wrote:
Cavalier wrote:I think most firms only have one tier, but some firms have two or even three tiers. However, the structure of these tiers is usually designed to lure you to the top tier. For instance, at Wiley, if you bill only 8.3% more hours, you'll get a 28% increase in salary, so you'll have a strong incentive to bill 1950 hours.

When I researched Wiley, I read that as a result of the recession, some associates were unable to hit the 1950 target, which meant they only received $125,000 for the year. I have no idea whether that was a common occurrence, but it's something to keep in mind.


I’m curious about the quality of life for the lawyers working to obtain 1950 billable hours. Is it all work and no play? If so, give me the 125k. :cry:


... you realize that 1950 is really low for biglaw, right?

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DukeCornell
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Re: Wiley Rein- Weird salary structure for first years?

Postby DukeCornell » Tue Oct 05, 2010 3:22 pm

ToTransferOrNot wrote:
DukeCornell wrote:
Cavalier wrote:I think most firms only have one tier, but some firms have two or even three tiers. However, the structure of these tiers is usually designed to lure you to the top tier. For instance, at Wiley, if you bill only 8.3% more hours, you'll get a 28% increase in salary, so you'll have a strong incentive to bill 1950 hours.

When I researched Wiley, I read that as a result of the recession, some associates were unable to hit the 1950 target, which meant they only received $125,000 for the year. I have no idea whether that was a common occurrence, but it's something to keep in mind.


I’m curious about the quality of life for the lawyers working to obtain 1950 billable hours. Is it all work and no play? If so, give me the 125k. :cry:


... you realize that 1950 is really low for biglaw, right?



:cry:




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