Law Firm Compensation Schemes

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tycoga8118
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Law Firm Compensation Schemes

Postby tycoga8118 » Sat Feb 09, 2013 1:02 am

How exactly does one go about figuring this out? I mean it is much easier to do at the big law firms that everyone talks about, but what about boutiques like Denver's Wheeler Trigg or satellite offices like Denver's Gibson Dunn for example? Also, how does it vary from Kirkland Ellis in Chicago versus New York and so forth? Also, what about partnership prospects and profits? Does it vary between offices? Also bonuses?

Finally, my question is largely how does one find this out? Interview, get offer, and then just ask or what? The reason is because Jones Day in Columbus starts at 144k which is great compared to NYC money, but the salary progression is nowhere near NYC so after six years the NYC guy is killing the jones day guy in total comp not to mention partnership prospects and exit options.

Okay, enough of my overlong post. I welcome all thoughts. Constructive thoughts that is...

Anonymous User
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Re: Law Firm Compensation Schemes

Postby Anonymous User » Sat Feb 09, 2013 1:08 am


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bk1
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Re: Law Firm Compensation Schemes

Postby bk1 » Sat Feb 09, 2013 1:13 am

Well if they're on NALP it's relatively easy. That should get you Wheeler, GDC, and KE. If they're not then it gets much harder. Essentially just Google your heart out. Check ATL for bonuses, but that's heavily biglaw skewed. My best thought for partnership prospects has been to look at how large incoming class sizes have been and check out how many partners they tend to promote per year, but this doesn't do a very good job since it doesn't take into account lateral hiring or bringing on lateral partners. Not to mention it's a very disparate comparison since you are comparing people getting hired and promoted in drastically different economic climes.

Thinking about partnership prospects and partnership compensation isn't all that important since, in all likelihood, you aren't going to be making partner.

de5igual
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Re: Law Firm Compensation Schemes

Postby de5igual » Sat Feb 09, 2013 1:14 am

how are you a 2L and just now asking these questions? it's a little late...

tycoga8118
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Re: Law Firm Compensation Schemes

Postby tycoga8118 » Sat Feb 09, 2013 12:44 pm

thanks but I don't think my OP was clear. To clarify, I mean how the salary progresses so I don't see how NALP is actually going to be helpful for that? For example, Dallas firms start at 160 too but do all follow NYC raises or no? I know there has been threads on some of these topics, but I was just curious as a general matter because I figured there was a lot going on compensation-wise aside from just the starting salary...

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bk1
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Re: Law Firm Compensation Schemes

Postby bk1 » Sat Feb 09, 2013 7:57 pm

tycoga8118 wrote:thanks but I don't think my OP was clear. To clarify, I mean how the salary progresses so I don't see how NALP is actually going to be helpful for that? For example, Dallas firms start at 160 too but do all follow NYC raises or no? I know there has been threads on some of these topics, but I was just curious as a general matter because I figured there was a lot going on compensation-wise aside from just the starting salary...

ATL often has posts about the lockstep salaries by class year for various firms/offices. Check there and Google.

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JamMasterJ
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Re: Law Firm Compensation Schemes

Postby JamMasterJ » Sat Feb 09, 2013 7:59 pm

bk1 wrote:
tycoga8118 wrote:thanks but I don't think my OP was clear. To clarify, I mean how the salary progresses so I don't see how NALP is actually going to be helpful for that? For example, Dallas firms start at 160 too but do all follow NYC raises or no? I know there has been threads on some of these topics, but I was just curious as a general matter because I figured there was a lot going on compensation-wise aside from just the starting salary...

ATL often has posts about the lockstep salaries by class year for various firms/offices. Check there and Google.

http://abovethelaw.com/careers/law-firms/

Anonymous User
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Re: Law Firm Compensation Schemes

Postby Anonymous User » Sat Feb 09, 2013 8:15 pm

tycoga8118 wrote:How exactly does one go about figuring this out? I mean it is much easier to do at the big law firms that everyone talks about, but what about boutiques like Denver's Wheeler Trigg or satellite offices like Denver's Gibson Dunn for example? Also, how does it vary from Kirkland Ellis in Chicago versus New York and so forth? Also, what about partnership prospects and profits? Does it vary between offices? Also bonuses?

Finally, my question is largely how does one find this out? Interview, get offer, and then just ask or what? The reason is because Jones Day in Columbus starts at 144k which is great compared to NYC money, but the salary progression is nowhere near NYC so after six years the NYC guy is killing the jones day guy in total comp not to mention partnership prospects and exit options.

Okay, enough of my overlong post. I welcome all thoughts. Constructive thoughts that is...


First-hand knowledge of the Denver satellites (Gibson, MoFo, A&P, etc.): associate compensation is in lockstep with the other offices of the firms. It's an incredible deal. Then again, they're nearly impossible to get hired at: e.g., one of GDC's new associates was summa at Penn, three of the current associates (out of 10 or so) at A&P are Yale grads.




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