Desert Fox wrote:Monochromatic Oeuvre wrote:JohannDeMann wrote:twenty 8 wrote:
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).
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.
That isn't the point. V&E midlevels who were big billers (which was probably most their corporate group) were receiving bonuses 20+k over DPW bonuses. That means that they were making significantly more because of the fact it was just more money AND because Texas has no state income tax (which North Carolina does). So yes, a midlevel at V&E made significantly more than someone in Charlotte. Charlotte and Houston probably have comparable COL.
Also saying Charlotte is a "better" city is ridiculous. This is hugely subjective and Houston has much better corporate practice opportunity than Charlotte does.