W&C to 200K

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v5junior
Posts: 74
Joined: Thu Aug 28, 2014 10:31 am

Re: W&C to 200K

Postby v5junior » Sat Apr 18, 2015 6:27 pm

shadowofjazz wrote:
charliekelly33 wrote:
sweeteavodka wrote:
deng wrote:So... will this be enough to raise the market to $190k or above?

Whatcha think


It's another ripple in the water, similar of Philly going to $160k recently. But mid-levels at W&C are still behind mid-levels at a market+DPW firm.

We've got momentum, but this isn't a tipping point.


Above the law is guessing at the mid level salaries. The old salary graduated from a 15K bump for the first years to a 20K bump for the more senior levels. The midlevels on the new W&C scale might actually get 25k bumps since their base is higher, and therefore, their percentage increase would be a higher overall amount. That might mean they are actually more competitive than the Above the Law breakdown indicates.

Overall, its good news. W&C undoubtedly pays its first and second years more than the Cravath-scale firms (without the pressure of making bonus numbers) and that will translate into a recruiting advantage this fall.
Surely you mean the Simpson-scale with DPW bonuses.


Surely you mean the Simpson scale with Simpson bonuses for stub, first, and second year associates, and then DPW bonuses for third through sixth year associates, and then Simpson bonuses for seventh year associates.

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Monochromatic Oeuvre
Posts: 1929
Joined: Fri May 10, 2013 9:40 pm

Re: W&C to 200K

Postby Monochromatic Oeuvre » Sat Apr 18, 2015 8:12 pm

jbagelboy wrote:
SquedTheScholar wrote:Consensus on whether this will push DPW, STB, etc. to 200 before September?


I don't see why DPW Cravath ect would match first year salary of a firm that always paid above market. They might go to $175 or $180 base bringing all in to $190-195, at least that's what we're all hoping for.


Embarrassment that a firm with 40% of their profits in a lower COL market is beating them on total comp for first, second and third years?

Having to witness a very clear example of what an equitable distribution of profits looks like? (Most firms outside the big six cities have pretty equitable distributions, really.)

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Yardbird
Posts: 1093
Joined: Sun Dec 04, 2011 1:45 pm

Re: W&C to 200K

Postby Yardbird » Sat Apr 18, 2015 9:28 pm

v5junior wrote:
shadowofjazz wrote:
charliekelly33 wrote:Above the law is guessing at the mid level salaries. The old salary graduated from a 15K bump for the first years to a 20K bump for the more senior levels. The midlevels on the new W&C scale might actually get 25k bumps since their base is higher, and therefore, their percentage increase would be a higher overall amount. That might mean they are actually more competitive than the Above the Law breakdown indicates.

Overall, its good news. W&C undoubtedly pays its first and second years more than the Cravath-scale firms (without the pressure of making bonus numbers) and that will translate into a recruiting advantage this fall.
Surely you mean the Simpson-scale with DPW bonuses.


Surely you mean the Simpson scale with Simpson bonuses for stub, first, and second year associates, and then DPW bonuses for third through sixth year associates, and then Simpson bonuses for seventh year associates.
Touché

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cookiejar1
Posts: 834
Joined: Fri Mar 11, 2011 2:07 am

Re: W&C to 200K

Postby cookiejar1 » Sun Apr 19, 2015 12:46 am

Arbiter213 wrote:
Lawyerrr wrote:Does W&C even have first year associates? I thought everyone in their class clerked (not exaggerating).


Not everyone clerks. I know a first year they hired through 3L OCI


This is ridiculous. Has W&C stopped caring about prestige or is the first year a former pilot?




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