Milbank/Davis Polk/Cravath Scale: NYC to 215-415k Forum

[legalpotato]

These rumors are a little silly. The partners at my v100 have already acknowledged privately to us that they are matching. It would be unbelievable if higher ranked firms didn’t match.

What V100? Since partners have privately acknowledged to presumably many people (based on your post). Stop these if you're not willing to reveal the name of the firm when it's at no cost to you. It would be different if one person had a conversation with just you.

I’m not the person you’re responding to, but I’m a KE associate and briefly chatted with an SP about the Milbank raises the week they happened. He offhandedly said “yeah of course we’ll just match whatever the market ends up being” like it was obvious. This SP is not on the comp committee but is relatively powerful.

The people here saying KE (or any of the other V10s) won’t match are just silly and obvious trolls.

IDK why but the bolded made me lol hard.

[Anonymous User]

These rumors are a little silly. The partners at my v100 have already acknowledged privately to us that they are matching. It would be unbelievable if higher ranked firms didn’t match.

What V100? Since partners have privately acknowledged to presumably many people (based on your post). Stop these if you're not willing to reveal the name of the firm when it's at no cost to you. It would be different if one person had a conversation with just you.

I’m not the person you’re responding to, but I’m a KE associate and briefly chatted with an SP about the Milbank raises the week they happened. He offhandedly said “yeah of course we’ll just match whatever the market ends up being” like it was obvious. This SP is not on the comp committee but is relatively powerful.

The people here saying KE (or any of the other V10s) won’t match are just silly and obvious trolls.

IDK why but the bolded made me lol hard.

Haha maybe it was a weird choice of words. What I was trying to express is that this SP is not a brand new one with a minimum draw and no influence/information, but rather a more senior one that often interacts with the SPs who would be making associate comp decisions.

[Anonymous User]

OP on the first page updated to reflect matched firms, ranked by vault. Is it sad that only 15 firms from the vault-100 rank have matched? It's been over 3 weeks and over 1100 posts in this thread now.

[Anonymous User]

Will today be the day?

[Anonymous User]

Today is Friday.

- Booger McFarland

[Anonymous User]

I can't do it anymore. I can't even make a snarky post. I'm broken.

[Anonymous User]

I wonder if they realize extending the waiting period is bad for business because lawyers can’t fully focus when they are refreshing top law every sixty seconds lol

[Anonymous User]

Current results from a Reddit poll titled “When will DPW or Cravath announce salaries?”

Friday: 14%
Next week: 20%
Two weeks from now: 10%
3+ weeks from now: 11%
Never: 44%

[Anonymous User]

can't all of you DPW associates start asking around with partners that you trust? You're billing all of those hours, is it really that bad to ask why you're being paid less than DLA associates?

[Anonymous User]

can't all of you DPW associates start asking around with partners that you trust? You're billing all of those hours, is it really that bad to ask why you're being paid less than DLA associates?

Tbh I think a lot of v10 associates really absorb this idea that it's an honor and privilege for them just to be there working on those transactions. It would be gauche to ask about compensation.

[Anonymous User]

can't all of you DPW associates start asking around with partners that you trust? You're billing all of those hours, is it really that bad to ask why you're being paid less than DLA associates?

Tbh I think a lot of v10 associates really absorb this idea that it's an honor and privilege for them just to be there working on those transactions. It would be gauche to ask about compensation.

At a V10 and you're absolutely right. The amount of bootlicking the partners here is disgusting.

[Anonymous User]

can't all of you DPW associates start asking around with partners that you trust? You're billing all of those hours, is it really that bad to ask why you're being paid less than DLA associates?

Tbh I think a lot of v10 associates really absorb this idea that it's an honor and privilege for them just to be there working on those transactions. It would be gauche to ask about compensation.

At a V10 and you're absolutely right. The amount of bootlicking the partners here is disgusting.

Did nobody ask at their recent town hall? I'm pretty surprised considering when I was there, I believe the questions were asked anonymously and people asked some pretty blunt questions. But in general, I feel like the partners are put on more of a pedestal at DPW, rather than say my current V50, where I find that some partners (but definitely not all) are talked to in the same way you'd talk to another associate.

[Anonymous User]

can't all of you DPW associates start asking around with partners that you trust? You're billing all of those hours, is it really that bad to ask why you're being paid less than DLA associates?

Tbh I think a lot of v10 associates really absorb this idea that it's an honor and privilege for them just to be there working on those transactions. It would be gauche to ask about compensation.

A lot of young V10 associates. Once you start realizing how the game is played, what you're billed out at vs. what you take home, how much money the equity partners are making, I feel like you become disabused of that notion, but it takes a few years and enough seniority to start being in the room for the sausage-making convos.

[Anonymous User]

Today is Friday.

- Booger McFarland

Tomorrow is Saturday, and Sunday comes afterwards.

-Rebecca Black

[Anonymous User]

can't all of you DPW associates start asking around with partners that you trust? You're billing all of those hours, is it really that bad to ask why you're being paid less than DLA associates?

Tbh I think a lot of v10 associates really absorb this idea that it's an honor and privilege for them just to be there working on those transactions. It would be gauche to ask about compensation.

At a V10 and you're absolutely right. The amount of bootlicking the partners here is disgusting.

Did nobody ask at their recent town hall? I'm pretty surprised considering when I was there, I believe the questions were asked anonymously and people asked some pretty blunt questions. But in general, I feel like the partners are put on more of a pedestal at DPW, rather than say my current V50, where I find that some partners (but definitely not all) are talked to in the same way you'd talk to another associate.

One of the admin people vetted the questions, there weren't *direct* questions from the masses.

In my experience, asking a random partner about comp isn't useful because they have no idea about associate comp (or pretend not to) unless they are on the associate comp committee. And I don't have the balls to interrogate the hand that feeds.

Call it bootlicking if you want, but I made like $700k in the last two years billing like 1k hours total so I'm not going to rock that boat.

[Anonymous User]

can't all of you DPW associates start asking around with partners that you trust? You're billing all of those hours, is it really that bad to ask why you're being paid less than DLA associates?

Tbh I think a lot of v10 associates really absorb this idea that it's an honor and privilege for them just to be there working on those transactions. It would be gauche to ask about compensation.

A lot of young V10 associates. Once you start realizing how the game is played, what you're billed out at vs. what you take home, how much money the equity partners are making, I feel like you become disabused of that notion, but it takes a few years and enough seniority to start being in the room for the sausage-making convos.

x2. I remember my moment came at the start of my second year, when I had to edit a time entry and the paralegal sent me a bill that had my rate on it. It was at that moment I stopped being thankful for 10k raises and instead got annoyed at how small they were.

[Anonymous User]

can't all of you DPW associates start asking around with partners that you trust? You're billing all of those hours, is it really that bad to ask why you're being paid less than DLA associates?

Tbh I think a lot of v10 associates really absorb this idea that it's an honor and privilege for them just to be there working on those transactions. It would be gauche to ask about compensation.

At a V10 and you're absolutely right. The amount of bootlicking the partners here is disgusting.

Did nobody ask at their recent town hall? I'm pretty surprised considering when I was there, I believe the questions were asked anonymously and people asked some pretty blunt questions. But in general, I feel like the partners are put on more of a pedestal at DPW, rather than say my current V50, where I find that some partners (but definitely not all) are talked to in the same way you'd talk to another associate.

One of the admin people vetted the questions, there weren't *direct* questions from the masses.

In my experience, asking a random partner about comp isn't useful because they have no idea about associate comp (or pretend not to) unless they are on the associate comp committee. And I don't have the balls to interrogate the hand that feeds.

Call it bootlicking if you want, but I made like $700k in the last two years billing like 1k hours total so I'm not going to rock that boat.

Holy shit... I have so many questions about this... teach me your ways.

[Anonymous User]

can't all of you DPW associates start asking around with partners that you trust? You're billing all of those hours, is it really that bad to ask why you're being paid less than DLA associates?

Tbh I think a lot of v10 associates really absorb this idea that it's an honor and privilege for them just to be there working on those transactions. It would be gauche to ask about compensation.

At a V10 and you're absolutely right. The amount of bootlicking the partners here is disgusting.

Did nobody ask at their recent town hall? I'm pretty surprised considering when I was there, I believe the questions were asked anonymously and people asked some pretty blunt questions. But in general, I feel like the partners are put on more of a pedestal at DPW, rather than say my current V50, where I find that some partners (but definitely not all) are talked to in the same way you'd talk to another associate.

One of the admin people vetted the questions, there weren't *direct* questions from the masses.

In my experience, asking a random partner about comp isn't useful because they have no idea about associate comp (or pretend not to) unless they are on the associate comp committee. And I don't have the balls to interrogate the hand that feeds.

Call it bootlicking if you want, but I made like $700k in the last two years billing like 1k hours total so I'm not going to rock that boat.

Holy shit... I have so many questions about this... teach me your ways.

Yeah talk about burying the lede...

[Anonymous User]

can't all of you DPW associates start asking around with partners that you trust? You're billing all of those hours, is it really that bad to ask why you're being paid less than DLA associates?

Tbh I think a lot of v10 associates really absorb this idea that it's an honor and privilege for them just to be there working on those transactions. It would be gauche to ask about compensation.

At a V10 and you're absolutely right. The amount of bootlicking the partners here is disgusting.

Did nobody ask at their recent town hall? I'm pretty surprised considering when I was there, I believe the questions were asked anonymously and people asked some pretty blunt questions. But in general, I feel like the partners are put on more of a pedestal at DPW, rather than say my current V50, where I find that some partners (but definitely not all) are talked to in the same way you'd talk to another associate.

One of the admin people vetted the questions, there weren't *direct* questions from the masses.

In my experience, asking a random partner about comp isn't useful because they have no idea about associate comp (or pretend not to) unless they are on the associate comp committee. And I don't have the balls to interrogate the hand that feeds.

Call it bootlicking if you want, but I made like $700k in the last two years billing like 1k hours total so I'm not going to rock that boat.

Holy shit... I have so many questions about this... teach me your ways.

Yeah talk about burying the lede...

I think we can all agree that making about as much as you netted the firm in revenue is not bootlicking lmao.

[NoLongerALurker]

How has taken the V10 so long to figure this out? They don’t need to play this game. If you don’t believe me, go ahead and read the comments section on Legalcheek. The top UK magic circle firms are paying less by class level in the magnitude of $100,000s, and it has no effect at all on their recruitment or retention. People will join or stay because of training, partnership/counsel pay packets (if they are chasing it), and brand name. It also helps the firm to market to clients; nobody wants to pay six figures for green associates. If anybody were to leave because of this, it is unlikely they are the star performers.

Whatever man. We're talking about law firms that matter, American firms.

No one cares whatever is left of the "Magic Circle" pays, or that Canadian "Bay Street" associates make half of US-market doing basically the same work, etc.

Isn't it relevant that in those places you basically start work as a lawyer straight out of undergrad with 0 debt?

Yes, it's relevant to why we shouldn't compare CAN/UK salaries to US salaries

True for UK, not for Canada. For Canada you need a 3-year JD and a 4 year undergrad, just like in States. Bay Street associates just get boned hardcore on $$. It's why Canadian offices of US firms on Bay Street (PW, Skadden, etc.) manage to easily pull the number 1-2 students from the top 2-3 law schools no problem. The difference between a PW associate's comp and a Goodmans associate's comp, despite both being "biglaw" with biglaw hours, is literally more than 2x. (Though the PW/Skadden offices mean you're just stuck doing M&A and cap markets, so top litigator types at Canadian schools are always trying to move south to like SullCrom NY or something)

[Anonymous User]

can't all of you DPW associates start asking around with partners that you trust? You're billing all of those hours, is it really that bad to ask why you're being paid less than DLA associates?

Tbh I think a lot of v10 associates really absorb this idea that it's an honor and privilege for them just to be there working on those transactions. It would be gauche to ask about compensation.

At a V10 and you're absolutely right. The amount of bootlicking the partners here is disgusting.

Did nobody ask at their recent town hall? I'm pretty surprised considering when I was there, I believe the questions were asked anonymously and people asked some pretty blunt questions. But in general, I feel like the partners are put on more of a pedestal at DPW, rather than say my current V50, where I find that some partners (but definitely not all) are talked to in the same way you'd talk to another associate.

One of the admin people vetted the questions, there weren't *direct* questions from the masses.

In my experience, asking a random partner about comp isn't useful because they have no idea about associate comp (or pretend not to) unless they are on the associate comp committee. And I don't have the balls to interrogate the hand that feeds.

Call it bootlicking if you want, but I made like $700k in the last two years billing like 1k hours total so I'm not going to rock that boat.

Holy shit... I have so many questions about this... teach me your ways.

Yeah talk about burying the lede...

Not a junior associate, Covid killed all my work, lateraled, parental leave, signing bonus, guaranteed bonus etc.

But see here for general tips: viewtopic.php?f=23&t=273037

[Anonymous User]

If something were going to happen today, is it typically early/mid afternoon as people roll into their (working) weekend?

[ExpOriental]

Please find attached the biggest dipshit of the week:

https://www.law.com/international-editi ... e-pay-war/

If anyone knows this chump please let him know how embarrassing this article is. He really seems convinced he can gloss over record breaking profit growth by repeating "the economics don't support it" over and over again.

He also brings us the shocking revelation that clients don't like it when rates go up. Really hard hitting stuff here.

[Anonymous User]

Please find attached the biggest dipshit of the week:

https://www.law.com/international-editi ... e-pay-war/

If anyone knows this chump please let him know how embarrassing this article is. He really seems convinced he can gloss over record breaking profit growth by repeating "the economics don't support it" over and over again.

He also brings us the shocking revelation that clients don't like it when rates go up. Really hard hitting stuff here.

He's abroad, who cares about what he says.

[Anonymous User]

If something were going to happen today, is it typically early/mid afternoon as people roll into their (working) weekend?

Someone posted an analysis of the last few announcements by DPW. I think 3 of the 4 came late morning (10 - 12 Eastern) and then one outlier came early afternoon (130 Eastern). You get the sense they're generally things they put together night before (the memo), vet one more time AM and then shoot around before lunch but that's obv just reading a few data points