NY GOES TO 180k! IT HAPPENED!!!! (CovingTTTon does a 180! Holder wept.) Forum

[Desert Fox]

[bearsfan23]

I don't think Tiago's point is that they'd be doing it primarily to attract first years, just that they'd probably also raise first year salary for whatever reason.

look at how they did the bonuses this year. First through third still sucks.

Back in the day they made it rain for first years.

Your point? They still raised bonuses for every year.

Also, you've literally been wrong 100% of the time when it comes to law firm compensation

[Tiago Splitter]

Yea even if comp went up, I see no reason why they'd give it to juniors. V5 have to bribe midlevls to stay. First years come for the prestige.

--Desert Fox before raises in 2000, 2005, and 2007

Back then they needed bodies, especially junior bodies to throw at work. They had to compete for talent because T14s were sending almost everyone who wanted it to biglaw. Even top third at WUSTL was a lock.

Back then you sit some idiot at a desk and bill them out at 350 an hour doing doc review for 2000 hours a year

The calculous has changed. There isn't enough junior work.

There's more biglaw hiring now than there was in 2005.

There's never been any reason to raise first year pay but they've always done it. No reason why this would be any different. Therefore, NY to 190 confirmed.

[Desert Fox]

[FSK]

POAST FIGHT

[Johann]

I mean so far DF is right about no 190 and everyone else is wrong since we've been going at this for months. DF 1; law students -1. Plus there's actually 0 chance they raise salaries to 190 instead of like 170 (175) tops. That was cool that NYCh ad a great year and they raised first year variable compensation 5k! Now they are about to raise fixed compensation 30k when work has slowed down a bit.

[Elston Gunn]

I mean so far DF is right about no 190 and everyone else is wrong since we've been going at this for months. DF 1; law students -1. Plus there's actually 0 chance they raise salaries to 190 instead of like 170 (175) tops. That was cool that NYCh ad a great year and they raised first year variable compensation 5k! Now they are about to raise fixed compensation 30k when work has slowed down a bit.

Does anyone unironically believe in NY to 190! on top-law-schools.com/forums?

[Johann]

I mean so far DF is right about no 190 and everyone else is wrong since we've been going at this for months. DF 1; law students -1. Plus there's actually 0 chance they raise salaries to 190 instead of like 170 (175) tops. That was cool that NYCh ad a great year and they raised first year variable compensation 5k! Now they are about to raise fixed compensation 30k when work has slowed down a bit.

Does anyone unironically believe in NY to 190! on top-law-schools.com/forums?

Yeah find the old thread. Bunch of law school students honestly think it's happening.

[052220152]

i heard that they are bumping it to 205k and not 190. is that what you guys heard

[Tiago Splitter]

Johann NYC to 190 has been a meme around here since salaries went to 160.

Which proves that it will be happening any day now since no one would talk about something that long unless it was inevitable

[Ron Howard]

It think that after reading this thread, New York firms (led of course by Paul Weiss) will have no choice but to raise starting salaries to $190,000, if not to $205,000 now that Jim Jones mentioned it.

ETA: Don't drink the cool aid, Jim Jones.

[Desert Fox]

[onionz]

Previous discussions of NY to 190 possibilities:

2009: http://blackbooklegal.blogspot.com/2009 ... -190k.html

2011: http://abovethelaw.com/2011/11/new-york ... bout-time/

But magically 2015 will be when it happens? I doubt it. Why do that when they can raise pay via bonuses? Can't back away from 190, but you can scale back bonuses.

[Cobretti]

Yea even if comp went up, I see no reason why they'd give it to juniors. V5 have to bribe midlevls to stay. First years come for the prestige.

--Desert Fox before raises in 2000, 2005, and 2007

Back then they needed bodies, especially junior bodies to throw at work. They had to compete for talent because T14s were sending almost everyone who wanted it to biglaw. Even top third at WUSTL was a lock.

Back then you sit some idiot at a desk and bill them out at 350 an hour doing doc review for 2000 hours a year

The calculous has changed. There isn't enough junior work.

There's more biglaw hiring now than there was in 2005.

There's never been any reason to raise first year pay but they've always done it. No reason why this would be any different. Therefore, NY to 190 confirmed.

The reason is called economics.

And more broadly law is a fucking dinosaur. There will always be a market no matter what else happens to the economy and nothing will ever change, at least at the top. And it's to the extent that it's laughable that there is a significant difference between now and 30 years ago, much less now and 8 years ago.

Macro economics is a thing, let's not be totally blinded by the liberal arts bias on this forum.

[Cobretti]

Previous discussions of NY to 190 possibilities:

2009: http://blackbooklegal.blogspot.com/2009 ... -190k.html

2011: http://abovethelaw.com/2011/11/new-york ... bout-time/

But magically 2015 will be when it happens? I doubt it. Why do that when they can raise pay via bonuses? Can't back away from 190, but you can scale back bonuses.

Because when you keep blowing air into a balloon and it doesn't pop it will clearly never pop.

[onionz]

Previous discussions of NY to 190 possibilities:

2009: http://blackbooklegal.blogspot.com/2009 ... -190k.html

2011: http://abovethelaw.com/2011/11/new-york ... bout-time/

But magically 2015 will be when it happens? I doubt it. Why do that when they can raise pay via bonuses? Can't back away from 190, but you can scale back bonuses.

Because when you keep blowing air into a balloon and it doesn't pop it will clearly never pop.

Well what's fundamentally different now compared to then?

[Tiago Splitter]

From an economics perspective the competitors had to match once the first firm raised, but there was no economic reason the first firm had to raise. These places can fill their first year quota with the same level of quality at a lot less pay. WTF else are we gonna do?

[Cobretti]

Previous discussions of NY to 190 possibilities:

2009: http://blackbooklegal.blogspot.com/2009 ... -190k.html

2011: http://abovethelaw.com/2011/11/new-york ... bout-time/

But magically 2015 will be when it happens? I doubt it. Why do that when they can raise pay via bonuses? Can't back away from 190, but you can scale back bonuses.

Because when you keep blowing air into a balloon and it doesn't pop it will clearly never pop.

Well what's fundamentally different now compared to then?

Inflation and GDP are the standouts.

[Cobretti]

From an economics perspective the competitors had to match once the first firm raised, but there was no economic reason the first firm had to raise. These places can fill their first year quota with the same level of quality at a lot less pay. WTF else are we gonna do?

You're still working under the assumption that people don't make rational decisions to go to law school, and there is therefore an infinite supply of equally qualified law school grads. It's a complete farce.

[Elston Gunn]

Glad we got out first unironic NY to 190! guy ITT. Livens things up.

[Cobretti]

Glad we got out first unironic NY to 190! guy ITT. Livens things up.

Lol I've been the flag bearer for a long time here. Welcome aboard.

[bearsfan23]

Would it even matter if PW raised NYC to $190k?

Would other firms follow? Or would it take a V9 + Deb firm to go to $190k in order to really shift the market?

[Elston Gunn]

Would it even matter if PW raised NYC to $190k?

Would other firms follow? Or would it take a V9 + Deb firm to go to $190k in order to really shift the market?

A) Yeah, it would matter.
B) This is some rancid PW trolling. Since when is V9 + Deb but not PW a thing?

[Cobretti]

Would it even matter if PW raised NYC to $190k?

Would other firms follow? Or would it take a V9 + Deb firm to go to $190k in order to really shift the market?

Exactly the questions we should be asking.

[trebekismyhero]

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