Biglaw Salaries going up?

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MCFC
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Re: Biglaw Salaries going up?

Postby MCFC » Mon Apr 27, 2015 3:22 pm

Desert Fox wrote:
MCFC wrote:
Pragmatic Gun wrote:I'm sorry, but I'd rather have 24 hour delis and 24 hour subway service than live in some suburban enclave getting fat off of Cheetohs on the couch with my big screen TV. IDK how people handle not having a 24 hour metro. NYC is a super convenient city. Not having a car saves one a lot of money on insurance and gas.

Also, most of our proles have the decency to live in Newark or Far Rockaway. They know better than to make eye contact on the subway, so points for that.

So there are literally ~5 cities where you'd be capable of living? http://qz.com/149698/londons-tube-is-no ... y-service/


Unless they are being over pedantic about subway vs elevated track, Chicago runs 24/7 on some lines too.

Right, in the update they say
Our original criteria were that each system be primarily underground and that the late service option offer access to the majority of major subway routes. An expanded definition would include even more systems, like Chicago, Barcelona, and Stockholm.


So I was being a little facetious. Even so, if 24 hour subway/trains is someone's criteria, their options are going to be pretty severely limited.

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Pragmatic Gun
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Re: Biglaw Salaries going up?

Postby Pragmatic Gun » Mon Apr 27, 2015 3:23 pm

Desert Fox wrote:
MCFC wrote:
Pragmatic Gun wrote:I'm sorry, but I'd rather have 24 hour delis and 24 hour subway service than live in some suburban enclave getting fat off of Cheetohs on the couch with my big screen TV. IDK how people handle not having a 24 hour metro. NYC is a super convenient city. Not having a car saves one a lot of money on insurance and gas.

Also, most of our proles have the decency to live in Newark or Far Rockaway. They know better than to make eye contact on the subway, so points for that.

So there are literally ~5 cities where you'd be capable of living? http://qz.com/149698/londons-tube-is-no ... y-service/


Unless they are being over pedantic about subway vs elevated track, Chicago runs 24/7 on some lines too.


I'm down with that.

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Pragmatic Gun
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Re: Biglaw Salaries going up?

Postby Pragmatic Gun » Mon Apr 27, 2015 3:25 pm

I guess because I grew up here, it's hard to imagine living somewhere where the trains don't run 24 hours, or to not have 24 hour delivery. Whenever I visit any other city on the planet, it's so boring to have to go home early or a real drag to pay for a cab when the metro is much cheaper. It's not a shock so much as a major inconvenience.

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Cobretti
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Re: Biglaw Salaries going up?

Postby Cobretti » Mon Apr 27, 2015 3:39 pm

Pragmatic Gun wrote:I guess because I grew up here, it's hard to imagine living somewhere where the trains don't run 24 hours, or to not have 24 hour delivery. Whenever I visit any other city on the planet, it's so boring to have to go home early or a real drag to pay for a cab when the metro is much cheaper. It's not a shock so much as a major inconvenience.

filthy prole

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Desert Fox
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Re: Biglaw Salaries going up?

Postby Desert Fox » Mon Apr 27, 2015 3:46 pm

In most of these cities the drinks + metro is more than drinks+cab in other cities.

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Pragmatic Gun
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Re: Biglaw Salaries going up?

Postby Pragmatic Gun » Mon Apr 27, 2015 3:51 pm

Desert Fox wrote:In most of these cities the drinks + metro is more than drinks+cab in other cities.


Hmm. Fair point.

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rpupkin
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Re: Biglaw Salaries going up?

Postby rpupkin » Mon Apr 27, 2015 3:52 pm

Desert Fox wrote:In most of these cities the drinks + metro is more than drinks+cab in other cities.

But haven't we already established elsewhere that tcr is bottle of whiskey in office desk drawer?

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Desert Fox
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Re: Biglaw Salaries going up?

Postby Desert Fox » Mon Apr 27, 2015 3:59 pm

rpupkin wrote:
Desert Fox wrote:In most of these cities the drinks + metro is more than drinks+cab in other cities.

But haven't we already established elsewhere that tcr is bottle of whiskey in office desk drawer?


I left my box of wine in the conference room and the cleaning lady threw it away. I gotta get a new one.

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El Pollito
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Re: Biglaw Salaries going up?

Postby El Pollito » Mon Apr 27, 2015 4:01 pm

Desert Fox wrote:
rpupkin wrote:
Desert Fox wrote:In most of these cities the drinks + metro is more than drinks+cab in other cities.

But haven't we already established elsewhere that tcr is bottle of whiskey in office desk drawer?


I left my box of wine in the conference room and the cleaning lady threw it away. I gotta get a new one.

:lol:

what was it doing there?


orangecup
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Re: Biglaw Salaries going up?

Postby orangecup » Mon Apr 27, 2015 4:10 pm



Any way to get a look at those outside of the top 10?

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smaug
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Re: Biglaw Salaries going up?

Postby smaug » Mon Apr 27, 2015 4:15 pm

only through the am law paywall (your school should have a subscription)

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Desert Fox
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Re: Biglaw Salaries going up?

Postby Desert Fox » Mon Apr 27, 2015 4:17 pm

Latham fucking killed it.

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transferror
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Re: Biglaw Salaries going up?

Postby transferror » Mon Apr 27, 2015 4:17 pm

Desert Fox wrote:
rpupkin wrote:
Desert Fox wrote:In most of these cities the drinks + metro is more than drinks+cab in other cities.

But haven't we already established elsewhere that tcr is bottle of whiskey in office desk drawer?


I left my box of wine in the conference room and the cleaning lady threw it away. I gotta get a new one.


DF doesn't strike me as the box wine type.

Get your wine preftige up bro.

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JohannDeMann
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Re: Biglaw Salaries going up?

Postby JohannDeMann » Mon Apr 27, 2015 4:24 pm

got damn latham. that's impressive. clearly they lathamed the right people and are only left with the creme de la crop

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Desert Fox
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Re: Biglaw Salaries going up?

Postby Desert Fox » Mon Apr 27, 2015 4:27 pm

transferror wrote:
Desert Fox wrote:
rpupkin wrote:
Desert Fox wrote:In most of these cities the drinks + metro is more than drinks+cab in other cities.

But haven't we already established elsewhere that tcr is bottle of whiskey in office desk drawer?


I left my box of wine in the conference room and the cleaning lady threw it away. I gotta get a new one.


DF doesn't strike me as the box wine type.

Get your wine preftige up bro.


Black box wine is the workhorse wine. I like a decent pinot noir or rioja for occasions or dinners.

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bruinfan10
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Re: Biglaw Salaries going up?

Postby bruinfan10 » Mon Apr 27, 2015 4:43 pm

Desert Fox wrote:Latham fucking killed it.

dat latham business model dood; boom and bust. the next latham'ing will take place in six months on a specially constructed mayan-style ziggurat--bob dell needs the blood of first years to rejuvinate him for another 20 year stint as managing partner.

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Monochromatic Oeuvre
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Re: Biglaw Salaries going up?

Postby Monochromatic Oeuvre » Mon Apr 27, 2015 4:59 pm

In revenue per lawyer, second-place S&C is closer to something like the 175th ranked firm than is it to Wachtell. That's just a different planet.

Also, if WLRK partners made $5.5M this year, and bonuses were 100% of base when it was $4.4M...I don't even want to think about what bonuses were like there.

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Big Shrimpin
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Re: Biglaw Salaries going up?

Postby Big Shrimpin » Mon Apr 27, 2015 5:07 pm

bruinfan10 wrote:
Desert Fox wrote:Latham fucking killed it.

dat latham business model dood; boom and bust. the next latham'ing will take place in six months on a specially constructed mayan-style ziggurat--bob dell needs the blood of first years to rejuvinate him for another 20 year stint as managing partner.


great poast

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smaug
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Re: Biglaw Salaries going up?

Postby smaug » Mon Apr 27, 2015 5:08 pm

Monochromatic Oeuvre wrote:In revenue per lawyer, second-place S&C is closer to something like the 175th ranked firm than is it to Wachtell. That's just a different planet.

Also, if WLRK partners made $5.5M this year, and bonuses were 100% of base when it was $4.4M...I don't even want to think about what bonuses were like there.

I don't think you're getting how PPP is accounted for here. An increase in associate bonuses would be a decrease in the PPP figures.

The one million more that WLRK pulls in RPL is absolutely absurd, though, you're right. They clearly know what they're doing.

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Desert Fox
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Re: Biglaw Salaries going up?

Postby Desert Fox » Mon Apr 27, 2015 5:11 pm

It is their pricing structure. It kicks the fuck out of biglaw billable model. But I doubt other firms could make it work.

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rpupkin
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Re: Biglaw Salaries going up?

Postby rpupkin » Mon Apr 27, 2015 5:12 pm

Desert Fox wrote:It is their pricing structure. It kicks the fuck out of biglaw billable model. But I doubt other firms could make it work.

Say more. I didn't know that Latham's pricing structure was unorthodox.

toothbrush
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Re: Biglaw Salaries going up?

Postby toothbrush » Mon Apr 27, 2015 5:12 pm

rpupkin wrote:
Desert Fox wrote:It is their pricing structure. It kicks the fuck out of biglaw billable model. But I doubt other firms could make it work.

Say more. I didn't know that Latham's pricing structure was unorthodox.

I think he means WLRK. Basically, they take a % of the deal's value.

http://thatsnotmarket.com/alternative-f ... l-edition/

ETA: Though what makes WLRK able to do that? Past history of performance/ lean staffing / ability to handle unique matters? Why couldn't S&C, CSM, DPW, have a similar arrangement for certain deals?
Last edited by toothbrush on Mon Apr 27, 2015 5:14 pm, edited 1 time in total.

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rpupkin
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Re: Biglaw Salaries going up?

Postby rpupkin » Mon Apr 27, 2015 5:14 pm

toothbrush wrote:
rpupkin wrote:
Desert Fox wrote:It is their pricing structure. It kicks the fuck out of biglaw billable model. But I doubt other firms could make it work.

Say more. I didn't know that Latham's pricing structure was unorthodox.

I think he means WLRK. Basically, they take a % of the deal's value.

http://thatsnotmarket.com/alternative-f ... l-edition/

Oh, I knew about WLRK. I misunderstood DF's post. Thanks.

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JohannDeMann
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Re: Biglaw Salaries going up?

Postby JohannDeMann » Mon Apr 27, 2015 5:35 pm

Jason Taverner wrote:
Monochromatic Oeuvre wrote:In revenue per lawyer, second-place S&C is closer to something like the 175th ranked firm than is it to Wachtell. That's just a different planet.

Also, if WLRK partners made $5.5M this year, and bonuses were 100% of base when it was $4.4M...I don't even want to think about what bonuses were like there.

I don't think you're getting how PPP is accounted for here. An increase in associate bonuses would be a decrease in the PPP figures.

The one million more that WLRK pulls in RPL is absolutely absurd, though, you're right. They clearly know what they're doing.


Nah. He's saying if you're profits are 4.4M one year and you give your associates a 100% bonus, it is likely when you increase your profitability by 25% that you may increase bonuses. So intsead of a 100% bonus, associates received more.




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