Biglaw Salaries going up?

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Re: Biglaw Salaries going up?

Postby Anonymous User » Fri Apr 24, 2015 6:14 pm

Desert Fox wrote:All the V100 sat. offices did, so I'm guessing the home grown people did too.

Rumor K&E was offering 100k signing bonus last spring to anyone going to Houston for O&G wrk.


I doubt that or they would have gotten more people to jump. Anyone at UT can be "going to Houston for O&G."

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Desert Fox
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Re: Biglaw Salaries going up?

Postby Desert Fox » Fri Apr 24, 2015 6:18 pm

Anonymous User wrote:
Desert Fox wrote:All the V100 sat. offices did, so I'm guessing the home grown people did too.

Rumor K&E was offering 100k signing bonus last spring to anyone going to Houston for O&G wrk.


I doubt that or they would have gotten more people to jump. Anyone at UT can be "going to Houston for O&G."


Oh sorry, I meant laterals with a few years under their belt.

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Re: Biglaw Salaries going up?

Postby Anonymous User » Fri Apr 24, 2015 6:21 pm

Oh my bad, that's more likely. Looking at the bios though, it doesn't look like they poached many associates from the top TX firms.

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Re: Biglaw Salaries going up?

Postby BigZuck » Fri Apr 24, 2015 6:25 pm

Kirkland Houston was really aggressive during OCI, I think they offered 2Ls 10K extra just to summer there and then 10K if you accepted their offer to work full time. I heard rumors that as of like February they were still looking for more 2Ls but not sure if that's true.

Houston has quite a few outposts that I think pay market bonuses- Skadden, Latham, etc.
Last edited by BigZuck on Fri Apr 24, 2015 7:03 pm, edited 1 time in total.

Mal Reynolds
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Re: Biglaw Salaries going up?

Postby Mal Reynolds » Fri Apr 24, 2015 6:29 pm

I'm not sure I would feel confident enough going to a new outpost office even for a firm like K&E. But the opportunities in the long run might be killer. Like getting in on the ground floor with clients and partners and making yourself a baller.

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Re: Biglaw Salaries going up?

Postby BigZuck » Fri Apr 24, 2015 6:33 pm

meh, nevermind, that post was just kind of baseless 2L speculation and I'm a coward who can't hide behind an anon shield
Last edited by BigZuck on Fri Apr 24, 2015 7:12 pm, edited 1 time in total.

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Re: Biglaw Salaries going up?

Postby BigZuck » Fri Apr 24, 2015 6:43 pm

Mal Reynolds wrote:I'm not sure I would feel confident enough going to a new outpost office even for a firm like K&E. But the opportunities in the long run might be killer. Like getting in on the ground floor with clients and partners and making yourself a baller.

I only know of one UT person going there (obviously there could be a lot more though). In screeners they would say things like "Here you're either going to be a rockstar or you'll be gone in 6 months" which I guess could appeal to some or turn others off. I'm surprised the extra 20K didn't appeal to more people. It seems like in general most UT people feel super comfortable going to Baker Botts/V&E/maybe even Fulbright over some of the national players like Kirkland/Skadden/Latham

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Re: Biglaw Salaries going up?

Postby rpupkin » Fri Apr 24, 2015 6:46 pm

BigZuck wrote:I only know of one UT person going there (obviously there could be a lot more though). In screeners they would say things like "Here you're either going to be a rockstar or you'll be gone in 6 months"

LOL

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Re: Biglaw Salaries going up?

Postby Mal Reynolds » Fri Apr 24, 2015 6:52 pm

BigZuck wrote:
Mal Reynolds wrote:I'm not sure I would feel confident enough going to a new outpost office even for a firm like K&E. But the opportunities in the long run might be killer. Like getting in on the ground floor with clients and partners and making yourself a baller.

I only know of one UT person going there (obviously there could be a lot more though). In screeners they would say things like "Here you're either going to be a rockstar or you'll be gone in 6 months" which I guess could appeal to some or turn others off. I'm surprised the extra 20K didn't appeal to more people. It seems like in general most UT people feel super comfortable going to Baker Botts/V&E/maybe even Fulbright over some of the national players like Kirkland/Skadden/Latham


That doesn't even sound good in the abstract. I can't imagine what it would be like in reality.

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Re: Biglaw Salaries going up?

Postby Anonymous User » Fri Apr 24, 2015 6:57 pm

One of my classmates who went to Kirkland ended up killing himself after a year, so maybe that's what they mean.

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Re: Biglaw Salaries going up?

Postby BigZuck » Fri Apr 24, 2015 6:57 pm

Yeah, I mean, pretty much all that stuff I heard like second and third hand so appropriate heaping of salt of course.

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Re: Biglaw Salaries going up?

Postby Anonymous User » Fri Apr 24, 2015 7:05 pm

BigZuck wrote:Kirkland Houston was really aggressive during OCI, I think they offered 2Ls 10K extra just to summer there and then 10K if you accepted their offer to work full time. I heard rumors that as of like February they were still looking for more warm 2L bodies but I don't know if that was true.

Houston has quite a few outposts that I think pay market bonuses- Skadden, Latham, etc.


Yeah I know they hired a couple 3L's over the last couple months; including one who ditched their 2L firm for K&E.

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Re: Biglaw Salaries going up?

Postby Anonymous User » Fri Apr 24, 2015 7:18 pm

Anonymous User wrote:
BigZuck wrote:Kirkland Houston was really aggressive during OCI, I think they offered 2Ls 10K extra just to summer there and then 10K if you accepted their offer to work full time. I heard rumors that as of like February they were still looking for more warm 2L bodies but I don't know if that was true.

Houston has quite a few outposts that I think pay market bonuses- Skadden, Latham, etc.


Yeah I know they hired a couple 3L's over the last couple months; including one who ditched their 2L firm for K&E.


.
Last edited by Anonymous User on Fri Apr 24, 2015 8:01 pm, edited 1 time in total.

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Re: Biglaw Salaries going up?

Postby Yukos » Fri Apr 24, 2015 7:28 pm

An office full of people who were sold by that pitch sounds unimaginably awful.

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Re: Biglaw Salaries going up?

Postby rpupkin » Fri Apr 24, 2015 7:35 pm

Yukos wrote:An office full of people who were sold by that pitch sounds unimaginably awful.

In fairness to Kirkland, I doubt this was any kind of organized pitch. Maybe a dumb associate said something like that (which would itself tell you something), but no law firm would intentionally present itself to law students like that.

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Re: Biglaw Salaries going up?

Postby Desert Fox » Fri Apr 24, 2015 7:36 pm

rpupkin wrote:
Yukos wrote:An office full of people who were sold by that pitch sounds unimaginably awful.

In fairness to Kirkland, I doubt this was any kind of organized pitch. Maybe a dumb associate said something like that (which would itself tell you something), but no law firm would intentionally present itself to law students like that.


insert on balance in balance joke here.

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Re: Biglaw Salaries going up?

Postby Anonymous User » Fri Apr 24, 2015 7:37 pm

People also choose NYC over other cities for law prestige of the biggest deals and city prestige of NYC. So NYC vs other cities isn't really a concern at this point either.

If law students stopped choosing prestige, tuition would go down by 20%+ and salaries up by 10%.[/quote]

Things might've changed years ago if people stopped picking Cleary over Boies, S&C over Kirkland, or NYC over Texas (or really any other market besides SF), or if they ever gave a shit about Cahill or Duval. Next to Wachtell, V&E has a colorable claim to being the highest-paying large firm in the country. Law students should be banging down their door.[/quote]

I think most people would pick Boies over Cleary. Also, tons of people lateral from places like S&C/Skadden to Kirkland for higher pay. Maybe 2Ls will pick S&C cuz it's ranked higher, but mid-levels care more about money.[/quote]

You're right. Sorry, meant to clarify that it's 2Ls doing those things in large numbers.

Desert Fox wrote:
Monochromatic Oeuvre wrote:
JohannDeMann wrote:
twenty 8 wrote:Aside from some firm in Houston paying $180k, I read where Dechert raised Philly to $160k. If they do this in their other markets (Boston, SF, LA, Charlotte, etc.) then NYC will become a high COL market that just pays scale.


People also choose NYC over other cities for law prestige of the biggest deals and city prestige of NYC. So NYC vs other cities isn't really a concern at this point either.

If law students stopped choosing prestige, tuition would go down by 20%+ and salaries up by 10%.


Things might've changed years ago if people stopped picking Cleary over Boies, S&C over Kirkland, or NYC over Texas (or really any other market besides SF), or if they ever gave a shit about Cahill or Duval. Next to Wachtell, V&E has a colorable claim to being the highest-paying large firm in the country. Law students should be banging down their door.


V&E pays above market?


At Houston taxes/COL, a V&E Houston first-year is taking home $100k AFTER payment on 2000 sq ft. No large firm except for WLRK could claim anything close (except for W&C at their new scale, but they're below DPW for midlevels). That was the gist (although apparently some people at V&E were in fact getting above market bonuses).[/quote]

I don't think that's right. Charlotte is a significantly cheaper (and better) city and there are at least 4 firms there that pay 160 + full NY Davis Polk bonuses. That puts them at about the highest buying power of anywhere else, given it's the cheapest of the markets that pay 160k + full NY scale bonus structure.

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Re: Biglaw Salaries going up?

Postby Anonymous User » Fri Apr 24, 2015 7:38 pm

JohannDeMann wrote:
twenty 8 wrote:Aside from some firm in Houston paying $180k, I read where Dechert raised Philly to $160k. If they do this in their other markets (Boston, SF, LA, Charlotte, etc.) then NYC will become a high COL market that just pays scale.


People also choose NYC over other cities for law prestige of the biggest deals and city prestige of NYC. So NYC vs other cities isn't really a concern at this point either.

If law students stopped choosing prestige, tuition would go down by 20%+ and salaries up by 10%.


Dechert already pays 160k in those markets. Philly and Princeton, NJ were the only one of their US offices that didn't pay full NY rates + NY bonuses.

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Re: Biglaw Salaries going up?

Postby Monochromatic Oeuvre » Fri Apr 24, 2015 8:36 pm

Anonymous User wrote:I don't think that's right. Charlotte is a significantly cheaper (and better) city and there are at least 4 firms there that pay 160 + full NY Davis Polk bonuses. That puts them at about the highest buying power of anywhere else, given it's the cheapest of the markets that pay 160k + full NY scale bonus structure.


I haven't seen a COL comparison that says Charlotte is "significantly cheaper" than Dallas/Houston, but it looks comparable. Add it to the list of places I wish I were from so I weren't stuck in NYC.

Pittsburgh and Tampa are the only other cities that cheap I know with Biglaw outposts, but I don't know if anyone there is $160k+DPW.

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Re: Biglaw Salaries going up?

Postby Anonymous User » Fri Apr 24, 2015 9:30 pm

Mal Reynolds wrote:People pick S&C because it's a backdoor to Goldman and who doesn't want that.

Well whoever is doing this is an idiot.

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Re: Biglaw Salaries going up?

Postby TTTooKewl » Fri Apr 24, 2015 9:54 pm

Anonymous User wrote:
Mal Reynolds wrote:People pick S&C because it's a backdoor to Goldman and who doesn't want that.

Well whoever is doing this is an idiot.


ty for your contribution

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Re: Biglaw Salaries going up?

Postby Mal Reynolds » Fri Apr 24, 2015 9:59 pm

Anonymous User wrote:
Mal Reynolds wrote:People pick S&C because it's a backdoor to Goldman and who doesn't want that.

Well whoever is doing this is an idiot.


That was the joke bro.

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Re: Biglaw Salaries going up?

Postby rpupkin » Fri Apr 24, 2015 10:03 pm

Anonymous User wrote:
Mal Reynolds wrote:People pick S&C because it's a backdoor to Goldman and who doesn't want that.

Well whoever is doing this is an idiot.

This guy is posting anon because he went to SullCrom thinking he'd lateral to Goldman as a midlevel. Sorry bro.

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Re: Biglaw Salaries going up?

Postby Big Shrimpin » Fri Apr 24, 2015 11:00 pm

Anonymous User wrote:
Big Shrimpin wrote:
Desert Fox wrote:Chicago is the perfect mix of low COL and living in a nice city.


ya if u r an eskimo or love to be cold 9 months of the year

mfh winter has me wanting 2 move 2 CA, ill bring my own water


LA Biglaw is where it's at, man. Perfect weather, lower COL, less stress, less slave-driving, and same pay (if you're at a NYC market-paying firm, which thankfully I am). LA is way better than the high strung, narcissistic, and overly-priced shithole that is MFH. Please bring extra water with you 8)


beginning office transfer process now

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Re: Biglaw Salaries going up?

Postby Big Shrimpin » Fri Apr 24, 2015 11:01 pm

Desert Fox wrote:
rpupkin wrote:
Yukos wrote:An office full of people who were sold by that pitch sounds unimaginably awful.

In fairness to Kirkland, I doubt this was any kind of organized pitch. Maybe a dumb associate said something like that (which would itself tell you something), but no law firm would intentionally present itself to law students like that.


insert on balance in balance joke here.



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