NYC to 180k

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Anonymous User
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NYC to 180k

Postby Anonymous User » Tue Apr 03, 2012 9:58 am

i heard from a number of important ppl that nyc market is going to 180k. any truth behind that?

Renzo
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Re: NYC to 180k

Postby Renzo » Tue Apr 03, 2012 10:15 am

Saddest attempted flame ever.

005618502
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Re: NYC to 180k

Postby 005618502 » Tue Apr 03, 2012 10:49 am

Weren't you suupposed to post this 2 days ago bro?

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Big Shrimpin
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Re: NYC to 180k

Postby Big Shrimpin » Tue Apr 03, 2012 11:19 am

OUT DAT OP FLAME

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thesealocust
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Re: NYC to 180k

Postby thesealocust » Tue Apr 03, 2012 11:22 am

It's not totally implausible. Once the market started heating up (more accurately: de-thawed?) I know a lot of firms ran into retention problems, which as best as I can tell was the root of NYC to 160 back in the day.

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top30man
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Re: NYC to 180k

Postby top30man » Tue Apr 03, 2012 11:22 am

Big Shrimpin wrote:OUT DAT OP FLAME

drbarry987
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Re: NYC to 180k

Postby drbarry987 » Tue Apr 03, 2012 11:23 am

I heard "from a number of important people" that NYC market is going to 160k + free CrossFit and Chipotle

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DrGuano
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Re: NYC to 180k

Postby DrGuano » Tue Apr 03, 2012 11:53 am

drbarry987 wrote:I heard "from a number of important people" that NYC market is going to 160k + free CrossFit and Chipotle


That definitely amounts to 20K annually. Basically the same thing. I'm down.

xcountryjunkie
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Re: NYC to 180k

Postby xcountryjunkie » Tue Apr 03, 2012 11:57 am

thesealocust wrote:It's not totally implausible. Once the market started heating up (more accurately: de-thawed?) I know a lot of firms ran into retention problems, which as best as I can tell was the root of NYC to 160 back in the day.


If the retention problem is not serious enough to warrant spring bonuses, it is not serious enough to warrant a base salary increase. A base salary increase isn't going to happen in the foreseeable future.

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Old Gregg
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Re: NYC to 180k

Postby Old Gregg » Tue Apr 03, 2012 7:19 pm

Not happening. And the retention problem alluded to above impacted midlevels, whose bonuses have been adjusted accordingly. No one cares about first years.


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MrPapagiorgio
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Re: NYC to 180k

Postby MrPapagiorgio » Mon Apr 16, 2012 6:09 pm

thesealocust wrote:http://abovethelaw.com/2012/04/new-york-to-180k-im-totally-serious/

Must be true then.
/sarcasm

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Doritos
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Re: NYC to 180k

Postby Doritos » Mon Apr 16, 2012 6:11 pm

thesealocust wrote:http://abovethelaw.com/2012/04/new-york-to-180k-im-totally-serious/


Niiiiiiccceeee....

The real question is do the other big firms care? The article mentioned how Cravath and friends have been getting beat this year in bonus payouts so we will see if they view these turn of events as real challenges to their prestige dominance...

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FlightoftheEarls
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Re: NYC to 180k

Postby FlightoftheEarls » Mon Apr 16, 2012 6:13 pm

thesealocust wrote:http://abovethelaw.com/2012/04/new-york-to-180k-im-totally-serious/

That's pretty interesting. The website says there are only 12 associates and law clerks total, so it's unlikely the major firms will follow. But anything is possible.

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NinerFan
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Re: NYC to 180k

Postby NinerFan » Mon Apr 16, 2012 6:14 pm

MrPapagiorgio wrote:
thesealocust wrote:http://abovethelaw.com/2012/04/new-york-to-180k-im-totally-serious/

Must be true then.
/sarcasm


It's certainly true for that one firm.

gulcregret
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Re: NYC to 180k

Postby gulcregret » Mon Apr 16, 2012 6:28 pm

DC to 180k happened a few years ago with a really super prestigious firm and no one followed. I think...

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Cavalier
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Re: NYC to 180k

Postby Cavalier » Mon Apr 16, 2012 6:46 pm

gulcregret wrote:DC to 180k happened a few years ago with a really super prestigious firm and no one followed. I think...

Williams & Connolly doesn't pay bonuses. Pre-ITE I think associates at other DC firms were a little better off, but now W&C associates do better. Plus they make $3450/week over the summer.

rad lulz
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Re: NYC to 180k

Postby rad lulz » Mon Apr 16, 2012 6:48 pm

I love emergent memes.

NY TO 180!!!

xcountryjunkie
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Re: NYC to 180k

Postby xcountryjunkie » Mon Apr 16, 2012 7:51 pm

I'd love for NYC to actually hit 180K since I'll be an SA there this summer, but I'm just not seeing it (yet). Most firms raised salaries in the early 2000s from 120 to 130 to 145 to 160 because they wanted the top associates and didn't want to get left behind by the market. I don't see how a firm with 11 associates makes any of the big firms cave. Desmarais just isn't a threat to steal enough of the top associates for it to matter.

Caveat: while I don't think any big firms will follow, I think if any one of the major firms does, almost everyone will follow.

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IAFG
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Re: NYC to 180k

Postby IAFG » Mon Apr 16, 2012 7:58 pm

xcountryjunkie wrote:
thesealocust wrote:It's not totally implausible. Once the market started heating up (more accurately: de-thawed?) I know a lot of firms ran into retention problems, which as best as I can tell was the root of NYC to 160 back in the day.


If the retention problem is not serious enough to warrant spring bonuses, it is not serious enough to warrant a base salary increase. A base salary increase isn't going to happen in the foreseeable future.

Agree with this. Anemic bonuses but then higher bases? Prolly not. Edit: also, I don't get the whole "retention problem" thing. Everyone pays say same base and same bonus, where are people going??

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FlightoftheEarls
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Re: NYC to 180k

Postby FlightoftheEarls » Mon Apr 16, 2012 8:08 pm

thesealocust wrote:It's not totally implausible. Once the market started heating up (more accurately: de-thawed?) I know a lot of firms ran into retention problems, which as best as I can tell was the root of NYC to 160 back in the day.

The increase in salaries may have begun when the market was de-thawing, but the final 160k figure seems to have come at the very height of the heyday.
http://abovethelaw.com/2007/01/breaking-simpson-thacher-raises-associate-base-salaries/

concurrent fork
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Re: NYC to 180k

Postby concurrent fork » Mon Apr 16, 2012 8:12 pm

Questionable reporting by ATL on this one. I really doubt the big firms see any retention threat from an IP boutique moving to 180K. I also fail to see how this will "trickle down through recruiting" since 99% of law students don't have an EE degree.

I'm hopeful, but realistic.

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wiseowl
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Re: NYC to 180k

Postby wiseowl » Mon Apr 16, 2012 8:30 pm

With due respect because the guy is a baller, Desmarais is now basically a patent troll for hire. He can diversify back I'm sure, but for now, not sure how sustainable that business model is.

r6_philly
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Re: NYC to 180k

Postby r6_philly » Mon Apr 16, 2012 8:52 pm

concurrent fork wrote:Questionable reporting by ATL on this one. I really doubt the big firms see any retention threat from an IP boutique moving to 180K. I also fail to see how this will "trickle down through recruiting" since 99% of law students don't have an EE degree.

I'm hopeful, but realistic.


So new IP associates to 180k? :mrgreen:

run26.2
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Re: NYC to 180k

Postby run26.2 » Mon Apr 16, 2012 9:02 pm

wiseowl wrote:With due respect because the guy is a baller, Desmarais is now basically a patent troll for hire. He can diversify back I'm sure, but for now, not sure how sustainable that business model is.

What do you mean by diversify back?




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