What Firms Pay Above Market?

(On Campus Interviews, Summer Associate positions, Firm Reviews, Tips, ...)
Forum rules
Anonymous Posting

Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.

Failure to follow these rules will get you outed, warned, or banned.
User avatar
20121109
Posts: 2149
Joined: Mon Apr 27, 2009 8:19 pm

Re: What Firms Pay Above Market?

Postby 20121109 » Fri Jul 06, 2012 8:30 pm

Icculus wrote:
Magnificent wrote: Hence the reason I would be exposing myself.


And we don't want him, exposing himself!

Gaia I understand if you ban me, but I couldn't resist.


:)

Thank you for the acknowledgement but I think the thread is slowly getting back on-topic.

Anonymous User
Posts: 273214
Joined: Tue Aug 11, 2009 9:32 am

Re: What Firms Pay Above Market?

Postby Anonymous User » Sun Jul 08, 2012 7:12 pm

Would it be unwise to express interest in multiple Susman locations? I have read on this forum before that sometimes it's not a great move, but would that not be the case with a firm like Susman, for which I would be willing to relocate?

Anonymous User
Posts: 273214
Joined: Tue Aug 11, 2009 9:32 am

Re: What Firms Pay Above Market?

Postby Anonymous User » Thu Jul 12, 2012 2:13 pm

Magnificent wrote:
Anonymous User wrote:Kirkland & Ellis does.


LOL...no they don't

they base bonuses on hours and we've never gotten an accurate number of how much people got to bill to get those above market bonuses.....plus we don't know how many associates they give above market bonuses.....so it could be a statistically insignificant number for all we know


That may not be a good sign for you, man. Bonuses are based roughly on hours/ranking, but there's certainly a level of partnership discretion that comes into it too. Most of the folks I speak with are getting well-above market bonuses. Like the other poster in this thread, I got 4x market last year and did not break my back for it.

But who knows how it works. I thought the statistic last year was that 60% or so got at least 2x market? Didn't they put that in a powerpoint presentation at some point?

TheProsecutor
Posts: 108
Joined: Mon May 14, 2012 12:50 pm

Re: What Firms Pay Above Market?

Postby TheProsecutor » Wed Jul 18, 2012 8:48 am

First you have to define what market is. Is it total compensation or base salary. I define base salary as $160,000 The firms that I know of paying a higher base salary are:

Wachtell
Boies
Williams & Connolly

Total compensation includes things like matching 401k, great healthcare, end of season bonus, first year incoming stipend, etc). Based on the Cravath model, the firms that I know of (this list isn't exhaustive) that pay above market total compensation are:

Wachtell
Boies
Williams & Connolly
Kirkland & Ellis
Quinn

Kirkland's bonus structure ensures that all but a few get above cravath bonuses and often times double cravath bonues in recent years.

Kirkland is also a peer litigation firm to just about any firm in the country. So anyone saying that it lacks prestige simply doesn't know what they are talking about. I have no loyalty to Kirkland, but I think the facts show that it is among the best litigation firms in the country and it pays its associates much better than almost every other firm out there. I don't know why there's so much Kirkland bashing in here.

But total compensation often misses the point.

The most important part of your career as a first year are the experiences you get. That's how you build equity in yourself as an attorney. The more skills you develop, the more valuable you'll be in your career. So I would go to a firm that paid less if I could get instant heavy responsibility. The good thing here is that you don't have to choose. Each of these firms will give you substantial responsibility early in your career especially Wachtell and Williams & Connolly. They both have top notch litigation departments and Wachtell has probably the best Corporate and M&A practice in the United States. So if you are young, don't mind working, and are smart, I'd aim for those.

Boies has a little more drudgery, but they'll give you a percentage of your billables as a bonus and they reward innovative thinkers. Kirkland is great if you're aggressive. Responsibility is there early if you're a type A personality and want to grab it. Quinn is a hours machine. They work their associate Wachtell hours, but they are becoming one of the best in the biz at litigation. I would prefer to get slightly less compensation in exchange for less hours, but it is a good firm with good responsibility.

Anonymous User
Posts: 273214
Joined: Tue Aug 11, 2009 9:32 am

Re: What Firms Pay Above Market?

Postby Anonymous User » Wed Jul 18, 2012 10:12 am

Anonymous User wrote:Would it be unwise to express interest in multiple Susman locations? I have read on this forum before that sometimes it's not a great move, but would that not be the case with a firm like Susman, for which I would be willing to relocate?
Interested in this as well.




Return to “Legal Employment”

Who is online

The online users are hidden on this forum.