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

[Desert Fox]

[Anonymous User]

Pretty sure Cadwalader has no min billables and lockstep, or they did for the DC office. NY is undoubtedly just as deadly as any other firm (or worse), though the associates in DC do seem to bill 1750-1850 pretty consistently. If they actually get the lockstep bonus, that sounds like a bearable life.

LJL. Uh, no.

Their bonus memo last year said "qualified Counsel, Special Counsel and Associates." I bet that means some hours minimum.

I'd believe some Cad DC bros were hanging on at 1750. I can't believe they'd give them 100k bonus for only billing that low.

were they managing matters like partners? If so I think that justifies paying them 100k bonus.

[TLSModBot]

Ah, but you see, there's only ONE (1) T14 school in those places. Of course they won't match.

Wait DC has only one T14 (and barely one at that). DC HEADED TO SECONDARY MARKET STATUS

[NoLongerALurker]

DC has the Supreme Court. We all know that adds a value of 1.5 T14's to the local legal preftige. DC constructively has 2 elite schools. Primary market status confirmed.

[Johann]

ive missed the last 5 pages or so of this but this is actually all according to plan - not sure if anyone posited this yet

no firm wants to go to 190 and only have 10-15 firms match it and no one else even try to move off 160.

simpson clearly leaked that on purpose to feel the market response out. looks like firms are deciding between 175 and 190 if i had to guess. also, the only people that would get that memo are boomer and not sending anything to ATL. but based on simpson's response, it's clear the document is real and theirs.

[Cobretti]

ive missed the last 5 pages or so of this but this is actually all according to plan - not sure if anyone posited this yet

no firm wants to go to 190 and only have 10-15 firms match it and no one else even try to move off 160.

simpson clearly leaked that on purpose to feel the market response out. looks like firms are deciding between 175 and 190 if i had to guess. also, the only people that would get that memo are boomer and not sending anything to ATL. but based on simpson's response, it's clear the document is real and theirs.

Shouldn't they prefer that only 10-15 firms match?

[smaug]

ive missed the last 5 pages or so of this but this is actually all according to plan - not sure if anyone posited this yet

no firm wants to go to 190 and only have 10-15 firms match it and no one else even try to move off 160.

simpson clearly leaked that on purpose to feel the market response out. looks like firms are deciding between 175 and 190 if i had to guess. also, the only people that would get that memo are boomer and not sending anything to ATL. but based on simpson's response, it's clear the document is real and theirs.

Shouldn't they prefer that only 10-15 firms match?

It's not about differentiation, it's about lowering partner comp at other shops, causing partner departures and killing that firm entirely, obvi

[Johann]

ive missed the last 5 pages or so of this but this is actually all according to plan - not sure if anyone posited this yet

no firm wants to go to 190 and only have 10-15 firms match it and no one else even try to move off 160.

simpson clearly leaked that on purpose to feel the market response out. looks like firms are deciding between 175 and 190 if i had to guess. also, the only people that would get that memo are boomer and not sending anything to ATL. but based on simpson's response, it's clear the document is real and theirs.

Shouldn't they prefer that only 10-15 firms match?

yeah but why go to 190 if you can go to 175. they want to know if firms paying 160k will move to 175 thats the key question. they already know firms cant go to 190.

[Single-Malt-Liquor]

It's 190 or bust. Going to 175 when the market is 190 is like going to bed with a half chub. No one's doing shit with that so you might as well keep it in your pants.

NYC to Full Chub!

[Anonymous User]

My v42 is going to 175k but midlevels are getting a 60k bump.

[PMan99]

Pretty sure Cadwalader has no min billables and lockstep, or they did for the DC office. NY is undoubtedly just as deadly as any other firm (or worse), though the associates in DC do seem to bill 1750-1850 pretty consistently. If they actually get the lockstep bonus, that sounds like a bearable life.

LJL. Uh, no.

Their bonus memo last year said "qualified Counsel, Special Counsel and Associates." I bet that means some hours minimum.

I'd believe some Cad DC bros were hanging on at 1750. I can't believe they'd give them 100k bonus for only billing that low.

Yes. I think TLS underestimates, particularly for non-NY offices, the number of people coming in marginally below 2000. It doesn't mean your life is good for a variety of reasons, and in many ways the 1900 area is worse than the 2100 area. TLS also underestimates the shenanigans that firms, from the top of Vault on down, routinely pull to lower associate compensation (no/partial bonus even if they hit hours, no class year advancement, etc.).

[Desert Fox]

[gaddockteeg]

Ah, but you see, there's only ONE (1) T14 school in those places. Of course they won't match.

Wait DC has only one T14 (and barely one at that). DC HEADED TO SECONDARY MARKET STATUS

I think UVA counts as DC.

[baal hadad]

I knew a guy who billed 1700 a year at my firm from like 2006-2014. That includes pro bono. Was well respected. However, he was in the office 7am to 7pm as his partners right hand man. He also never once got bonus.

Sounds awful

[Anonymous User]

So if when firms go to 190, what do firms that pay under market in NYC do?

[rpupkin]

So if when firms go to 190, what do firms that pay under market in NYC do?

That's not really relevant now, is it?

[JustHawkin]

So if when firms go to 190, what do firms that pay under market in NYC do?

That's not really relevant now, is it?

I mean, it would be relevant if the firm you're summering at pays under market?

Asking for a friend.

[baal hadad]

My v42 is going to 175k but midlevels are getting a 60k bump.

I bet everyone is ENJOYING it har har

[Johann]

I knew a guy who billed 1700 a year at my firm from like 2006-2014. That includes pro bono. Was well respected. However, he was in the office 7am to 7pm as his partners right hand man. He also never once got bonus.

this guy is a god to me. that's the dream right there (imo).

[baal hadad]

I knew a guy who billed 1700 a year at my firm from like 2006-2014. That includes pro bono. Was well respected. However, he was in the office 7am to 7pm as his partners right hand man. He also never once got bonus.

this guy is a god to me. that's the dream right there (imo).

Why?

[rpupkin]

I knew a guy who billed 1700 a year at my firm from like 2006-2014. That includes pro bono. Was well respected. However, he was in the office 7am to 7pm as his partners right hand man. He also never once got bonus.

this guy is a god to me. that's the dream right there (imo).

So your dream is billing at a 50% efficiency rate, never receiving a bonus, and getting forced out after your eighth year?

[Johann]

billing 1700 to keep getting promoted? if you're a partner's right hand it probably means you aren't doing much grunt work but concerned with the strategy stuff etc. 7-7 at the office with a few hours of dicking around seems credited to me. pulled in a million after 5 years without bonus. what's not to love? you could easily have a family on that lifestyle and still retire at age 45/50 if you wanted to.

[dixiecupdrinking]

billing 1700 to keep getting promoted? if you're a partner's right hand it probably means you aren't doing much grunt work but concerned with the strategy stuff etc. 7-7 at the office with a few hours of dicking around seems credited to me. pulled in a million after 5 years without bonus. what's not to love? you could easily have a family on that lifestyle and still retire at age 45/50 if you wanted to.

How about working the same hours, billing more, getting bonuses, and having an actual post-biglaw career?

[Johann]

i mean the whole point it is awesome because he is dicking around 6 hours a day.

[rpupkin]

i mean the whole point it is awesome because he is dicking around 6 hours a day.

As much as I enjoy dicking around (see, e.g., my dozens of posts in this thread), I think that, if I were only billing 6 hours a day, I'd prefer to go home at 3 p.m. instead of waiting around for my partner master to give me work.