Anonymous User wrote:
~ on a tuesday~
Wonder how this would effect a satellite of one of the big three philly firms?
Isn't it obvious? A satellite hoping to compete with the big three (who can attract associates by virtue of Philly prestige) would have to bump up associate salaries even higher. And then the big three will feel compelled to respond in kind. The only question is who will flinch first in this game of associate-recruiting chicken.
The winners of this bidding war will be the associates. And the losers, of course, will be the partners who work for firms with significant Philly presences--their precious PPPs are about to take a major hit. Stay tuned.