NYC to 200k

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MaxMcMann

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Re: NYC to 200k

Postby MaxMcMann » Thu Jul 12, 2018 11:58 am

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Man it's quiet. Is that a wrap on raises? I can't believe 30+ firms in the top 200 haven't moved yet. Even if it's not a full match, make some sort of move. These guys are going to get left in the dust come OCI.


Not to mention Kasowitz now pays more in guaranteed comp than the vast majority of these firms. One-time bonuses mean little at the lower levels where Kasowitz's higher base evens it out in total comp (and ultimately will exceed over time) I guess young associates are happy with a pat on the head from their "superior" firms. We'll see if 2Ls and 3Ls are as well.


No one at a white shoe v20 gives two shits if Kasowitz pays $5k above market


Yeah, I’ve spent 5+ years in biglaw and people generally see Kasowitz as kind of a joke. Beyond me why somebody would want to go work there. No associate or law student in their right mind would choose Kasowitz over DPW, STB, etc.


What other BigLaw firms take Touro students?*

*true in at least one case

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deadpanic

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Re: NYC to 200k

Postby deadpanic » Thu Jul 12, 2018 12:22 pm

Anonymous User wrote:
malibustacy wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Man it's quiet. Is that a wrap on raises? I can't believe 30+ firms in the top 200 haven't moved yet. Even if it's not a full match, make some sort of move. These guys are going to get left in the dust come OCI.


Not to mention Kasowitz now pays more in guaranteed comp than the vast majority of these firms. One-time bonuses mean little at the lower levels where Kasowitz's higher base evens it out in total comp (and ultimately will exceed over time) I guess young associates are happy with a pat on the head from their "superior" firms. We'll see if 2Ls and 3Ls are as well.


No one at a white shoe v20 gives two shits if Kasowitz pays $5k above market


Yeah, I’ve spent 5+ years in biglaw and people generally see Kasowitz as kind of a joke. Beyond me why somebody would want to go work there. No associate or law student in their right mind would choose Kasowitz over DPW, STB, etc.


Very hot take.

+1

Why is Kasowitz a joke and who are the people who think it's a joke?


I don't have a dog in this fight, but probably doesn't help that the founding & name partner acted like a total and incompetent ass for Trump for a good while, all while threatening several baseless lawsuits.

The revenue is also a lot lower than the traditional powerhouse white shoe Wall Street firms.There are Kansas City firms stylin' on Kasowitz's revenue.
Last edited by deadpanic on Thu Jul 12, 2018 12:44 pm, edited 1 time in total.

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 12:24 pm

Anonymous User wrote:
malibustacy wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Man it's quiet. Is that a wrap on raises? I can't believe 30+ firms in the top 200 haven't moved yet. Even if it's not a full match, make some sort of move. These guys are going to get left in the dust come OCI.


Not to mention Kasowitz now pays more in guaranteed comp than the vast majority of these firms. One-time bonuses mean little at the lower levels where Kasowitz's higher base evens it out in total comp (and ultimately will exceed over time) I guess young associates are happy with a pat on the head from their "superior" firms. We'll see if 2Ls and 3Ls are as well.


No one at a white shoe v20 gives two shits if Kasowitz pays $5k above market


Yeah, I’ve spent 5+ years in biglaw and people generally see Kasowitz as kind of a joke. Beyond me why somebody would want to go work there. No associate or law student in their right mind would choose Kasowitz over DPW, STB, etc.


Very hot take.

+1

Why is Kasowitz a joke and who are the people who think it's a joke?



How else is someone who isn't actually remarkable supposed to feel superior?

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 1:23 pm

Anonymous User wrote:
Anonymous User wrote:
malibustacy wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Man it's quiet. Is that a wrap on raises? I can't believe 30+ firms in the top 200 haven't moved yet. Even if it's not a full match, make some sort of move. These guys are going to get left in the dust come OCI.


Not to mention Kasowitz now pays more in guaranteed comp than the vast majority of these firms. One-time bonuses mean little at the lower levels where Kasowitz's higher base evens it out in total comp (and ultimately will exceed over time) I guess young associates are happy with a pat on the head from their "superior" firms. We'll see if 2Ls and 3Ls are as well.


No one at a white shoe v20 gives two shits if Kasowitz pays $5k above market


Yeah, I’ve spent 5+ years in biglaw and people generally see Kasowitz as kind of a joke. Beyond me why somebody would want to go work there. No associate or law student in their right mind would choose Kasowitz over DPW, STB, etc.


Very hot take.

+1

Why is Kasowitz a joke and who are the people who think it's a joke?



How else is someone who isn't actually remarkable supposed to feel superior?


Can't tell who this is supposed to make fun of. Unremarkable but feeling superior is basically Marc Kasowitz in a nutshell.

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cfcm

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Re: NYC to 200k

Postby cfcm » Thu Jul 12, 2018 1:27 pm

The man, a retired public relations professional in the western United States who asked not to be identified, read ProPublica’s story this week on Kasowitz and sent the lawyer an email with the subject line: “Resign Now.’’

Kasowitz replied with series of angry messages sent between 9:30 p.m. and 10 p.m. Eastern time. One read: “I’m on you now. You are fucking with me now Let’s see who you are Watch your back , bitch.”

In another email, Kasowitz wrote: “Call me. Don’t be afraid, you piece of shit. Stand up. If you don’t call, you’re just afraid.” And later: “I already know where you live, I’m on you. You might as well call me. You will see me. I promise. Bro.”

https://www.propublica.org/article/marc ... ils-maddow

But that’s all in the past. I for one welcome our new market leader.

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 1:31 pm

MaxMcMann wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Man it's quiet. Is that a wrap on raises? I can't believe 30+ firms in the top 200 haven't moved yet. Even if it's not a full match, make some sort of move. These guys are going to get left in the dust come OCI.


Not to mention Kasowitz now pays more in guaranteed comp than the vast majority of these firms. One-time bonuses mean little at the lower levels where Kasowitz's higher base evens it out in total comp (and ultimately will exceed over time) I guess young associates are happy with a pat on the head from their "superior" firms. We'll see if 2Ls and 3Ls are as well.


No one at a white shoe v20 gives two shits if Kasowitz pays $5k above market


Yeah, I’ve spent 5+ years in biglaw and people generally see Kasowitz as kind of a joke. Beyond me why somebody would want to go work there. No associate or law student in their right mind would choose Kasowitz over DPW, STB, etc.


What other BigLaw firms take Touro students?*

*true in at least one case


There are a legit number of top Boston biglaw firms (Sidley, Morgan Lewis, H&K included...and that’s just off the top of my head) that take students from the absolute bottom of the law school barrel that Massachusetts has to offer. Frankly, I’ve never understood this; why not just go a tad deeper into Bc or bu’s Class. From my perspective, the risk would be way too high that Client X knows that the local TTTT takes people who can barely think (thinking being defined, here, as Lsat percentile and/or college gpa), and picks the firm down the road instead...but what do I know?

This is a long way of making my point that I don’t think that taking people from garbage schools, on its own, invalidates the legitimacy of a given law firm or makes it a joke.

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 1:33 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Man it's quiet. Is that a wrap on raises? I can't believe 30+ firms in the top 200 haven't moved yet. Even if it's not a full match, make some sort of move. These guys are going to get left in the dust come OCI.


Not to mention Kasowitz now pays more in guaranteed comp than the vast majority of these firms. One-time bonuses mean little at the lower levels where Kasowitz's higher base evens it out in total comp (and ultimately will exceed over time) I guess young associates are happy with a pat on the head from their "superior" firms. We'll see if 2Ls and 3Ls are as well.


No one at a white shoe v20 gives two shits if Kasowitz pays $5k above market


Yeah, I’ve spent 5+ years in biglaw and people generally see Kasowitz as kind of a joke. Beyond me why somebody would want to go work there. No associate or law student in their right mind would choose Kasowitz over DPW, STB, etc.

that firm that pays 5k more than us? what a JOKE!


Midlevel and senior associates are getting $5K more salary than market firms but missing out on the $20-25K summer bonuses that their counterparts at other firms are getting. Real above-market firm :roll:

I mean, with Kasowitz's profitability (its peer firms in terms of RPL -- one of the best measures of profitability -- include Kelley Drye, Drinker Biddle, Nixon Peabody, Knobbe Martens, Pepper Hamilton, Schiff Harden, and Vedder Price), I guess associates there should just be glad they're getting any money at all. So yeah, people should definitely forego actually respectable firms like SullCrom and Paul Weiss to go to somewhere where the face of the firm has been making a public mockery out of himself and is about as profitable as Honigman Miller, based out of Detroit.

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 1:35 pm

Anonymous User wrote:
malibustacy wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Man it's quiet. Is that a wrap on raises? I can't believe 30+ firms in the top 200 haven't moved yet. Even if it's not a full match, make some sort of move. These guys are going to get left in the dust come OCI.


Not to mention Kasowitz now pays more in guaranteed comp than the vast majority of these firms. One-time bonuses mean little at the lower levels where Kasowitz's higher base evens it out in total comp (and ultimately will exceed over time) I guess young associates are happy with a pat on the head from their "superior" firms. We'll see if 2Ls and 3Ls are as well.


No one at a white shoe v20 gives two shits if Kasowitz pays $5k above market


Yeah, I’ve spent 5+ years in biglaw and people generally see Kasowitz as kind of a joke. Beyond me why somebody would want to go work there. No associate or law student in their right mind would choose Kasowitz over DPW, STB, etc.


Very hot take.

+1

Why is Kasowitz a joke and who are the people who think it's a joke?


Kasowitz is basically a running joke among associates at my V10 NYC biglaw firm.

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 1:36 pm

Anonymous User wrote:
Can't tell who this is supposed to make fun of. Unremarkable but feeling superior is basically Marc Kasowitz in a nutshell.


I think Kasowitz himself is in the top 5-10 billing rate per hour in the country, which is actually pretty remarkable. I assume OP means everyday whiteshoe associates whose only claim to fame is the brand on their business card.

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NakedPowerOrgan

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Re: NYC to 200k

Postby NakedPowerOrgan » Thu Jul 12, 2018 1:37 pm

cfcm wrote:
The man, a retired public relations professional in the western United States who asked not to be identified, read ProPublica’s story this week on Kasowitz and sent the lawyer an email with the subject line: “Resign Now.’’

Kasowitz replied with series of angry messages sent between 9:30 p.m. and 10 p.m. Eastern time. One read: “I’m on you now. You are fucking with me now Let’s see who you are Watch your back , bitch.”

In another email, Kasowitz wrote: “Call me. Don’t be afraid, you piece of shit. Stand up. If you don’t call, you’re just afraid.” And later: “I already know where you live, I’m on you. You might as well call me. You will see me. I promise. Bro.”

https://www.propublica.org/article/marc ... ils-maddow

But that’s all in the past. I for one welcome our new market leader.


Thank you for this. I forgot how hilarious those emails were. Bro.

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 1:54 pm

Anonymous User wrote:
Anonymous User wrote:
Can't tell who this is supposed to make fun of. Unremarkable but feeling superior is basically Marc Kasowitz in a nutshell.


I think Kasowitz himself is in the top 5-10 billing rate per hour in the country, which is actually pretty remarkable. I assume OP means everyday whiteshoe associates whose only claim to fame is the brand on their business card.


Is this true? Last I heard, he billed $1500/hr. There are K&E tax partners billing $1700+/hr, and I can think of at least a couple dozen people here at K&E alone who bill at or above $1500/hr.

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Re: NYC to 200k

Postby Wild Card » Thu Jul 12, 2018 3:21 pm

deadpanic wrote:
Anonymous User wrote:
malibustacy wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Man it's quiet. Is that a wrap on raises? I can't believe 30+ firms in the top 200 haven't moved yet. Even if it's not a full match, make some sort of move. These guys are going to get left in the dust come OCI.


Not to mention Kasowitz now pays more in guaranteed comp than the vast majority of these firms. One-time bonuses mean little at the lower levels where Kasowitz's higher base evens it out in total comp (and ultimately will exceed over time) I guess young associates are happy with a pat on the head from their "superior" firms. We'll see if 2Ls and 3Ls are as well.


No one at a white shoe v20 gives two shits if Kasowitz pays $5k above market


Yeah, I’ve spent 5+ years in biglaw and people generally see Kasowitz as kind of a joke. Beyond me why somebody would want to go work there. No associate or law student in their right mind would choose Kasowitz over DPW, STB, etc.


Very hot take.

+1

Why is Kasowitz a joke and who are the people who think it's a joke?


I don't have a dog in this fight, but probably doesn't help that the founding & name partner acted like a total and incompetent ass for Trump for a good while, all while threatening several baseless lawsuits.

The revenue is also a lot lower than the traditional powerhouse white shoe Wall Street firms.There are Kansas City firms stylin' on Kasowitz's revenue.


It's a very high honor to represent the president of the United States.

I knew a loser burnout lawyer who once described Justice Thomas as a "joke." Well, he sits on the Supreme Court and is a great man, and you are a loser, regardless of where you went to school and what firm you worked at. Unsurprisingly.

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Re: NYC to 200k

Postby unlicensedpotato » Thu Jul 12, 2018 3:39 pm

Wild Card wrote:
It's a very high honor to represent the president of the United States.

I knew a loser burnout lawyer who once described Justice Thomas as a "joke." Well, he sits on the Supreme Court and is a great man, and you are a loser, regardless of where you went to school and what firm you worked at. Unsurprisingly.


lol

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 3:41 pm

Wild Card wrote:
deadpanic wrote:
Anonymous User wrote:
malibustacy wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Not to mention Kasowitz now pays more in guaranteed comp than the vast majority of these firms. One-time bonuses mean little at the lower levels where Kasowitz's higher base evens it out in total comp (and ultimately will exceed over time) I guess young associates are happy with a pat on the head from their "superior" firms. We'll see if 2Ls and 3Ls are as well.


No one at a white shoe v20 gives two shits if Kasowitz pays $5k above market


Yeah, I’ve spent 5+ years in biglaw and people generally see Kasowitz as kind of a joke. Beyond me why somebody would want to go work there. No associate or law student in their right mind would choose Kasowitz over DPW, STB, etc.


Very hot take.

+1

Why is Kasowitz a joke and who are the people who think it's a joke?


I don't have a dog in this fight, but probably doesn't help that the founding & name partner acted like a total and incompetent ass for Trump for a good while, all while threatening several baseless lawsuits.

The revenue is also a lot lower than the traditional powerhouse white shoe Wall Street firms.There are Kansas City firms stylin' on Kasowitz's revenue.


It's a very high honor to represent the president of the United States.

I knew a loser burnout lawyer who once described Justice Thomas as a "joke." Well, he sits on the Supreme Court and is a great man, and you are a loser, regardless of where you went to school and what firm you worked at. Unsurprisingly.


Lol, not this president. Trump ran a quasi-criminal real estate business for decades, and Kasowitz was occasionally counsel. Hardly the stuff of legal legend. It’s decidedly low-brow. And FWIW, representing the Trump Organization has no relation to Justice Thomas.

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Re: NYC to 200k

Postby malibustacy » Thu Jul 12, 2018 3:44 pm

I don't understand what about Kasowitz is bringing out all these V10 prestige gunners out of the woodwork to shit all over it.

The firm is not really competing for the same clients or same level of work a top international firm does. Virtually a different market segment altogether. Anyone with half a brain understands this. The hostile reaction is very curious.

Get your firms to go 195 or 200 instead.

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 4:18 pm

malibustacy wrote:I don't understand what about Kasowitz is bringing out all these V10 prestige gunners out of the woodwork to shit all over it.

The firm is not really competing for the same clients or same level of work a top international firm does. Virtually a different market segment altogether. Anyone with half a brain understands this. The hostile reaction is very curious.

Get your firms to go 195 or 200 instead.


Maybe the hostile reactions are in response to initial comments overly generous to Kasowitz? The comments below came in before anything resembling a hostile comment did.

Lit is red hot right now. Kasowitz is reflecting that.


(It's not, and they're not.)

Kasowitz now pays more in guaranteed comp than the vast majority of these firms. One-time bonuses mean little at the lower levels where Kasowitz's higher base evens it out in total comp (and ultimately will exceed over time) I guess young associates are happy with a pat on the head from their "superior" firms.


(For a comment obsessed with guaranteed comp, the proposition that +5K salaries w/o bonuses at Kasowitz will exceed market salaries w/ bonuses over time, even though any given associate could be fired tomorrow, seems inconsistent. Also, many or most of the firms that are doing $190K salaries on top of summer bonuses actually are superior to Kasowitz in practically every measurable, objective degree -- no sarcastic quotation marks needed.)

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 4:56 pm

Anonymous User wrote:
Anonymous User wrote:Man it's quiet. Is that a wrap on raises? I can't believe 30+ firms in the top 200 haven't moved yet. Even if it's not a full match, make some sort of move. These guys are going to get left in the dust come OCI.


Not to mention Kasowitz now pays more in guaranteed comp than the vast majority of these firms. One-time bonuses mean little at the lower levels where Kasowitz's higher base evens it out in total comp (and ultimately will exceed over time) I guess young associates are happy with a pat on the head from their "superior" firms. We'll see if 2Ls and 3Ls are as well.


You have no way of knowing whether it will ultimately exceed comp over time. Even junior associates at Kasowitz are getting less 2018 compensation. You'd have to make it to next June as a 1st year for it to even out, and as a senior associate it would take five years. And that's assuming (a) other firms don't eventually raise and (b) nobody pays summer bonuses next year, which we just don't know. As far as anyone receiving a summer bonus is concerned, Kasowitz is below market....different calculus for incoming laterals/first years though.

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 5:01 pm

This is a bizarre article: https://www.law.com/2018/06/22/associate-starting-salaries-the-week-the-firewall-failed

MidLaw = AmLaw 200 firms ranked 40 to 120 by PPP? (Conveniently, the author's old firm, Ropes & Gray narrowly escapes this designation.)
Salary increases from "Middle Law" firms were unnecessary?

According to this logic, WilmerHale, Baker Botts, OMM, MoFo, Orrick, and Covington (all "Middle Law" firms) should have refused to raise salaries, and the only reason they did was so the partners could feel good about themselves being at an "elite" firm? Whaaaaaaaaaaat?

If WilmerHale didn't raise, while GDC, Akin, Skadden, Latham, and K&E raised in DC and Ropes & Gray, Goodwin, Choate, Latham, Skadden, Proskauer, and K&E raised in Boston, it would be virtually impossible for WilmerHale to retain top-tier associates and attract the best law students. Sure, maybe DC associates would still rather take the financial hit and be at Covington or WilmerHale over V&E or K&S, but what a nightmare trying to retain the people you already have and attracting new associates. Recruiters and other firms would be out for blood. There would definitely be an exodus, and I don't think the author appreciates the severe clusterfuck in day-to-day workflow from that sort of thing.

Same thing if Baker Botts didn't raise but V&E, K&E, GDC, Sidley, and Weil did, or if OMM and MoFo didn't raise but Latham, Skadden, GDC, K&E, Quinn, and Paul Hastings did.

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 5:11 pm

Anonymous User wrote:This is a bizarre article: https://www.law.com/2018/06/22/associate-starting-salaries-the-week-the-firewall-failed

MidLaw = AmLaw 200 firms ranked 40 to 120 by PPP? (Conveniently, the author's old firm, Ropes & Gray narrowly escapes this designation.)
Salary increases from "Middle Law" firms were unnecessary?

According to this logic, WilmerHale, Baker Botts, OMM, MoFo, Orrick, and Covington (all "Middle Law" firms) should have refused to raise salaries, and the only reason they did was so the partners could feel good about themselves being at an "elite" firm? Whaaaaaaaaaaat?

If WilmerHale didn't raise, while GDC, Akin, Skadden, Latham, and K&E raised in DC and Ropes & Gray, Goodwin, Choate, Latham, Skadden, Proskauer, and K&E raised in Boston, it would be virtually impossible for WilmerHale to retain top-tier associates and attract the best law students. Sure, maybe DC associates would still rather take the financial hit and be at Covington or WilmerHale over V&E or K&S, but what a nightmare trying to retain the people you already have and attracting new associates. Recruiters and other firms would be out for blood. There would definitely be an exodus, and I don't think the author appreciates the severe clusterfuck in day-to-day workflow from that sort of thing.

Same thing if Baker Botts didn't raise but V&E, K&E, GDC, Sidley, and Weil did, or if OMM and MoFo didn't raise but Latham, Skadden, GDC, K&E, Quinn, and Paul Hastings did.


Also super dumb to make the argument based on ordinal ranking rather than the underlying PPP number. Not to mention that there are other factors at play that determine whether it makes sense such as leverage and how many associates are actually on the new scale. In Baker McKenzie's case, a huge portion of their associates are in international offices that aren't on the $190k scale.

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 5:33 pm

Anonymous User wrote:
Anonymous User wrote:This is a bizarre article: https://www.law.com/2018/06/22/associate-starting-salaries-the-week-the-firewall-failed

MidLaw = AmLaw 200 firms ranked 40 to 120 by PPP? (Conveniently, the author's old firm, Ropes & Gray narrowly escapes this designation.)
Salary increases from "Middle Law" firms were unnecessary?

According to this logic, WilmerHale, Baker Botts, OMM, MoFo, Orrick, and Covington (all "Middle Law" firms) should have refused to raise salaries, and the only reason they did was so the partners could feel good about themselves being at an "elite" firm? Whaaaaaaaaaaat?

If WilmerHale didn't raise, while GDC, Akin, Skadden, Latham, and K&E raised in DC and Ropes & Gray, Goodwin, Choate, Latham, Skadden, Proskauer, and K&E raised in Boston, it would be virtually impossible for WilmerHale to retain top-tier associates and attract the best law students. Sure, maybe DC associates would still rather take the financial hit and be at Covington or WilmerHale over V&E or K&S, but what a nightmare trying to retain the people you already have and attracting new associates. Recruiters and other firms would be out for blood. There would definitely be an exodus, and I don't think the author appreciates the severe clusterfuck in day-to-day workflow from that sort of thing.

Same thing if Baker Botts didn't raise but V&E, K&E, GDC, Sidley, and Weil did, or if OMM and MoFo didn't raise but Latham, Skadden, GDC, K&E, Quinn, and Paul Hastings did.


Also super dumb to make the argument based on ordinal ranking rather than the underlying PPP number. Not to mention that there are other factors at play that determine whether it makes sense such as leverage and how many associates are actually on the new scale. In Baker McKenzie's case, a huge portion of their associates are in international offices that aren't on the $190k scale.


I can think of so many more variables that would go into a firm's decision to match salaries and/or bonuses that are more relevant than "where are we ranked in PPP?"

Am looking forward to trolling associates at Wilmer, Mayer Brown, Covington, etc. about them not actually working in biglaw, though. Enjoy "Middle Law," suckers.

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 9:40 pm

"Monger Tolles" lmao why link some article written by a 12 year old. What's "law.com" anyway.

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Re: NYC to 200k

Postby Anonymous User » Thu Jul 12, 2018 11:55 pm

Anonymous User wrote:This is a bizarre article: https://www.law.com/2018/06/22/associate-starting-salaries-the-week-the-firewall-failed

MidLaw = AmLaw 200 firms ranked 40 to 120 by PPP? (Conveniently, the author's old firm, Ropes & Gray narrowly escapes this designation.)
Salary increases from "Middle Law" firms were unnecessary?

According to this logic, WilmerHale, Baker Botts, OMM, MoFo, Orrick, and Covington (all "Middle Law" firms) should have refused to raise salaries, and the only reason they did was so the partners could feel good about themselves being at an "elite" firm? Whaaaaaaaaaaat?

If WilmerHale didn't raise, while GDC, Akin, Skadden, Latham, and K&E raised in DC and Ropes & Gray, Goodwin, Choate, Latham, Skadden, Proskauer, and K&E raised in Boston, it would be virtually impossible for WilmerHale to retain top-tier associates and attract the best law students. Sure, maybe DC associates would still rather take the financial hit and be at Covington or WilmerHale over V&E or K&S, but what a nightmare trying to retain the people you already have and attracting new associates. Recruiters and other firms would be out for blood. There would definitely be an exodus, and I don't think the author appreciates the severe clusterfuck in day-to-day workflow from that sort of thing.

Same thing if Baker Botts didn't raise but V&E, K&E, GDC, Sidley, and Weil did, or if OMM and MoFo didn't raise but Latham, Skadden, GDC, K&E, Quinn, and Paul Hastings did.


Baker McKenzie has 4,700 attorneys and grossed 2.5 billion dollars last year. Yep, sounds like MidLaw to me.

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Re: NYC to 200k

Postby Anonymous User » Tue Jul 17, 2018 3:05 pm

Haynes Boone matched, although no details on how much they actually matched:
https://abovethelaw.com/2018/07/another ... re-sparse/

Anonymous User wrote:
Anonymous User wrote:Based on this rationale, it seems HB has no chance of matching...
Haynes Boone (approx. $0.957M PPP, 1.84 EP:Assoc. leverage)

Anonymous User wrote:
NakedPowerOrgan wrote:Some fun facts, maybe useful to law students during OCI:

$1.4 million PPP seems to be around the sweet spot for where it becomes likely that you'll at least see a raise when the market moves. 90 percent of firms in the AmLaw 200 with over $1.36 million PPP have matched salary raises. 85 percent of AmLaw 200 firms at or below that mark have not announced salary matches or have announced they will not match. Zero firms below $1.28 million PPP have announced salary raises and bonuses.

Nearly all firms (approx. 90 percent) above $2.0 million PPP have announced matches to both bonuses and raises. Boies not announcing yet and Cooley denying summer bonuses are the two most prominent exceptions in that group.

Roughly $1.4 million to $2 million PPP seems to be where it gets interesting. Around 75 percent of firms in that range have matched salaries but around half of those firms have refused to supplement those raises with bonuses.


This is a very useful post.


TK has below 1.28M PPP and announced full salary match and bonuses (though bonuses were tied to hours/productivity). Will be interested to see how HB responds. In Texas, if V&E does something, BB has to respond. But then after that, it seems like HB, TK, Fulbright, Bracewell, Locke and Hunton/AK are sort of in the same group in that they don't necessarily have to do what V&E/BB do, but if a majority of that group does something, it seems like the rest have to fall in line. So now that Fulbright and TK have taken very different approaches, will be interesting to see how the respond.

Anonymous User
Posts: 326423
Joined: Tue Aug 11, 2009 9:32 am

Re: NYC to 200k

Postby Anonymous User » Tue Jul 17, 2018 4:35 pm

Anonymous User wrote:
Anonymous User wrote:anyone have an update on progress at BSF?


bump


bump

jfc this is ridiculous

Anonymous User
Posts: 326423
Joined: Tue Aug 11, 2009 9:32 am

Re: NYC to 200k

Postby Anonymous User » Tue Jul 17, 2018 6:47 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:anyone have an update on progress at BSF?


bump


bump

jfc this is ridiculous



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