NYC to 200k

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 1:33 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Anyone heard of match activity at one of the above/off-market scale comp firms (Wachtell, Boies Schiller, Willims & Connolly?).


Wachtell never matched 180k because their comp was already higher. The same is true for the new scale. No need to send out a memo when all associates already get paid well above-market.


This is not accurate; Wachtell did move its base salary. As did Boies and W&C.


W&C especially will have to considering it already was below market.

Consider 4yrs, under current W&C scale they get a 250,000 salary and no bonus.

Cravath is 255 + bonus (60k last year) + 15K summer bonus (~320,000 in total comp this year when accounting for the fact that salary increase was mid year).

That's a pretty huge differential


That’s the old salary scale. Fourth years currently make $285,000.


Nope...re-read any of the salary memos:

2017 (1st year): $190,000
2016 (2nd year): $200,000
2015 (3rd year): $220,000
2014 (4th year): $255,000


I think you’re confusing Williams & Connolly and White & Case. The former has been at 200k for first years since spring 2015 and got a new raise for all years above first this past January.

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 1:38 pm

good thing we all anonymous or that guy woulda looked like an idiot

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 1:38 pm

.

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 1:55 pm

Come on King & Spalding.

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 2:03 pm

Anonymous User wrote:Come on King & Spalding.


I agree that raises in Atlanta would be just peachy, but at the moment the scale hasn't moved south of Philadelphia. Come on DC...

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 2:04 pm

Patiently waiting for Dallas/Houston to jump on this ship. Come on BB/VE....

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NakedPowerOrgan

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Re: NYC to 200k

Postby NakedPowerOrgan » Mon Jun 18, 2018 2:30 pm

Wall of Shame (listed from most shame to least shame, based on PPP, firm’s growth over recent years, and ability to pay bonuses and raises):

    Fried Frank
    Latham
    Paul Hastings
    Akin Gump
    King & Spalding
    Vinson & Elkins
    Shearman & Sterling
    Gibson Dunn
    Dechert
    Wilmer
    Schulte
    Cooley
    Kramer Levin
    Baker Botts
    Alton & Bird
    Sheppard Mullin
    McDermott

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Re: NYC to 200k

Postby Pulsar » Mon Jun 18, 2018 2:31 pm

Anonymous User wrote:Come on King & Spalding.


They'll probably raise. They and most of the legacy DC firms will have to, since Kirkland/Gibson/Latham etc. either have raised or will raise.

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 2:34 pm

NakedPowerOrgan wrote:Wall of Shame (listed from most shame to least shame, based on PPP, firm’s growth over recent years, and ability to pay bonuses and raises):

    Fried Frank
    Latham
    Paul Hastings
    Akin Gump
    King & Spalding
    Vinson & Elkins
    Shearman & Sterling
    Gibson Dunn
    Dechert
    Wilmer
    Schulte
    Cooley
    Kramer Levin
    Baker Botts
    Alton & Bird
    Sheppard Mullin
    McDermott


Fried Frank just matched (see ATL).

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NakedPowerOrgan

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Re: NYC to 200k

Postby NakedPowerOrgan » Mon Jun 18, 2018 2:39 pm

NakedPowerOrgan wrote:Wall of Shame (listed from most shame to least shame, based on PPP, firm’s growth over recent years, and ability to pay bonuses and raises):

    Fried Frank
    Latham
    Paul Hastings
    Akin Gump
    King & Spalding
    Vinson & Elkins
    Shearman & Sterling
    Gibson Dunn
    Dechert
    Wilmer
    Schulte
    Cooley
    Kramer Levin
    Baker Botts
    Alton & Bird
    Sheppard Mullin
    McDermott

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 2:47 pm

It's outright laughable that Latham hasn't matched yet

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 2:54 pm

Anonymous User wrote:It's outright laughable that Latham hasn't matched yet


^This. It's almost like they know a lot of firms are waiting for them before matching and they want an upper-hand during OCI so they'll wait to match until the day before bids are due.

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 2:55 pm

BB and V&E must match pretty soon. They are facing plenty of competition in Houston in Dallas from firms that have already matched. Many summer associates split between BB/V&E and firms that have already matched.

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 2:57 pm

NakedPowerOrgan wrote:
NakedPowerOrgan wrote:Wall of Shame (listed from most shame to least shame, based on PPP, firm’s growth over recent years, and ability to pay bonuses and raises):

    Fried Frank
    Latham
    Paul Hastings
    CovingTTTon
    Hogan Lovells
    A&P
    Akin Gump
    King & Spalding
    Vinson & Elkins
    Shearman & Sterling
    Gibson Dunn
    Dechert
    Wilmer
    Schulte
    Cooley
    Kramer Levin
    Baker Botts
    Alton & Bird
    Sheppard Mullin
    McDermott


How can you make a list of shame and leave off CovingTTTon and the rest of the DC native firms?

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NakedPowerOrgan

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Re: NYC to 200k

Postby NakedPowerOrgan » Mon Jun 18, 2018 2:59 pm

Anonymous User wrote:It's outright laughable that Latham hasn't matched yet


Same for Paul Hastings. Similar PPP, stronger profit growth over the last few years, better partner/associate leverage, and has around a third of the associates that Latham has (seems like it should be psychologically easier for PH management to make an $18MM raise/bonus decision than Latham management to make a $50MM decision).

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 3:09 pm

Latham might be at its summer retreat, no?

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NakedPowerOrgan

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Re: NYC to 200k

Postby NakedPowerOrgan » Mon Jun 18, 2018 3:10 pm

Anonymous User wrote:
NakedPowerOrgan wrote:
NakedPowerOrgan wrote:Wall of Shame (listed from most shame to least shame, based on PPP, firm’s growth over recent years, and ability to pay bonuses and raises):

    Fried Frank
    Latham
    Paul Hastings
    CovingTTTon
    Hogan Lovells
    A&P
    Akin Gump
    King & Spalding
    Vinson & Elkins
    Shearman & Sterling
    Gibson Dunn
    Dechert
    Wilmer
    Schulte
    Cooley
    Kramer Levin
    Baker Botts
    Alton & Bird
    Sheppard Mullin
    McDermott


How can you make a list of shame and leave off CovingTTTon and the rest of the DC native firms?


CovingTTTon is not even top 50 in PPP (lower than Katten and about half the PPP of Willkie, after all) and the firm’s profits haven’t been growing at nearly the rate as firms like Latham, Paul Hastings, and Akin Gump. CovingTTTon truly earns all three of its Ts, but at least they have an excuse (being poor) for not being so quick to match.

As a non-DC lawyer, I don’t even know what a Hogan Lovells is.

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 3:14 pm

Anonymous User wrote:
Anonymous User wrote:It's outright laughable that Latham hasn't matched yet


^This. It's almost like they know a lot of firms are waiting for them before matching and they want an upper-hand during OCI so they'll wait to match until the day before bids are due.


Zero chance any significant number of partners anywhere think about OCI recruiting at this level of detail and scheming.

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 3:21 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:It's outright laughable that Latham hasn't matched yet


^This. It's almost like they know a lot of firms are waiting for them before matching and they want an upper-hand during OCI so they'll wait to match until the day before bids are due.


Zero chance any significant number of partners anywhere think about OCI recruiting at this level of detail and scheming.


It’s a shame. The former head of Latham would often personally text OCI recruitees, ask them for pics (to develop a stronger personal relationship), and, if their professional credentials caught his attention, tell them how excited he was to meet them in person, whether at a firm event or a more intimate setting like coffee in his hotel room.

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 3:24 pm

NakedPowerOrgan wrote:
Anonymous User wrote:
NakedPowerOrgan wrote:
NakedPowerOrgan wrote:Wall of Shame (listed from most shame to least shame, based on PPP, firm’s growth over recent years, and ability to pay bonuses and raises):

    Fried Frank
    Latham
    Paul Hastings
    CovingTTTon
    Hogan Lovells
    A&P
    Akin Gump
    King & Spalding
    Vinson & Elkins
    Shearman & Sterling
    Gibson Dunn
    Dechert
    Wilmer
    Schulte
    Cooley
    Kramer Levin
    Baker Botts
    Alton & Bird
    Sheppard Mullin
    McDermott


How can you make a list of shame and leave off CovingTTTon and the rest of the DC native firms?


CovingTTTon is not even top 50 in PPP (lower than Katten and about half the PPP of Willkie, after all) and the firm’s profits haven’t been growing at nearly the rate as firms like Latham, Paul Hastings, and Akin Gump. CovingTTTon truly earns all three of its Ts, but at least they have an excuse (being poor) for not being so quick to match.

As a non-DC lawyer, I don’t even know what a Hogan Lovells is.


The stuff about CovingTTTon is credited, but HL had like $1.8 billion in revenue last year so they have much less of an excuse.

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 3:26 pm

Let's see how long Wilmer waits to match given that its two main Boston rivals matched last Friday.

Anonymous User
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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 3:27 pm

Anonymous User wrote:The stuff about CovingTTTon is credited, but HL had like $1.8 billion in revenue last year so they have much less of an excuse.


If by 1.8B you mean over 2B

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 3:28 pm

Hogan Partner: "We are in the middle of reviewing how this will impact us."

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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 3:29 pm

Anonymous User wrote:
NakedPowerOrgan wrote:
Anonymous User wrote:
NakedPowerOrgan wrote:
NakedPowerOrgan wrote:Wall of Shame (listed from most shame to least shame, based on PPP, firm’s growth over recent years, and ability to pay bonuses and raises):

    Fried Frank
    Latham
    Paul Hastings
    CovingTTTon
    Hogan Lovells
    A&P
    Akin Gump
    King & Spalding
    Vinson & Elkins
    Shearman & Sterling
    Gibson Dunn
    Dechert
    Wilmer
    Schulte
    Cooley
    Kramer Levin
    Baker Botts
    Alton & Bird
    Sheppard Mullin
    McDermott


How can you make a list of shame and leave off CovingTTTon and the rest of the DC native firms?


CovingTTTon is not even top 50 in PPP (lower than Katten and about half the PPP of Willkie, after all) and the firm’s profits haven’t been growing at nearly the rate as firms like Latham, Paul Hastings, and Akin Gump. CovingTTTon truly earns all three of its Ts, but at least they have an excuse (being poor) for not being so quick to match.

As a non-DC lawyer, I don’t even know what a Hogan Lovells is.


The stuff about CovingTTTon is credited, but HL had like $1.8 billion in revenue last year so they have much less of an excuse.


And even lower PEP than Covington... let's pick a metric and go with it rather than redefine "rich" firms to achieve desired results. Dentons is one of the largest firms in the world by revenue--don't think anyone's gonna start calling for #(upstate)NYto190

Anonymous User
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Re: NYC to 200k

Postby Anonymous User » Mon Jun 18, 2018 3:30 pm

Anonymous User wrote:Hogan Partner: "We are in the middle of reviewing how this will impact us."


Is this a reference to CovingTTTon 2016 or just plain 'ol trolling?



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