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

[Anonymous User]

Hey DPW, how are you today?

Quiet so far. My guess is that they are deciding whether to (1) announce bonuses (unlikely this early in the year, IMO), (2) true up (?) the pay raise to the beginning of the year and/or (3) go over the top.

(4) announce stub years get 211,789.23 base

[Anonymous User]

Hey DPW, how are you today?

(4) announce stub years get 211,789.23 base

That would be below the Milbank Scale. If the past is any indication, I'm expecting DPW to come back with 217,500

[Anonymous User]

Hey DPW, how are you today?

(4) announce stub years get 211,789.23 base

That would be below the Milbank Scale. If the past is any indication, I'm expecting DPW to come back with 217,500

Milbank didn't announce 2022 payscale so in theory it's still 202.5/205.

[TigerIsBack]

Hey DPW, how are you today?

(4) announce stub years get 211,789.23 base

That would be below the Milbank Scale. If the past is any indication, I'm expecting DPW to come back with 217,500

Milbank didn't announce 2022 payscale so in theory it's still 202.5/205.

huh?

[Anonymous User]

Milbank didn't announce 2022 payscale so in theory it's still 202.5/205.

I think this anon is talking about the Class of 2022 payscale, which Milbank was silent about. To read between the lines, it could mean Milbank is planning another announcement this summer/fall for Class of 2022 (and bump the other classes as well--crossing fingers)

[Anonymous User]

Milbank didn't announce 2022 payscale so in theory it's still 202.5/205.

I think this anon is talking about the Class of 2022 payscale, which Milbank was silent about. To read between the lines, it could mean Milbank is planning another announcement this summer/fall for Class of 2022 (and bump the other classes as well--crossing fingers)

Milbank does not differentiate between stub years and first years. I wouldn't read anything into the absence of c/o 2022 from the announcement.

[Anonymous User]

Cravath to 220?

[Anonymous User]

Milbank didn't announce 2022 payscale so in theory it's still 202.5/205.

I think this anon is talking about the Class of 2022 payscale, which Milbank was silent about. To read between the lines, it could mean Milbank is planning another announcement this summer/fall for Class of 2022 (and bump the other classes as well--crossing fingers)

Milbank does not differentiate between stub years and first years. I wouldn't read anything into the absence of c/o 2022 from the announcement.

They sent an email to this past summers that theyr getting the 215

[lawdude31]

Cravath to 220?

New phone, who dis

[AureliusCapital]

Cravath to 220?

Is this inside info?

[Anonymous User]

Cravath to 220?

Is this inside info?

Nah just speculating (and hoping)

[Anonymous User]

Cravath to 220?

Is this inside info?

Nah just speculating (and hoping)

That would be a pretty weak raise-don't see how its worth it unless you go at least 10K above the scale.

[NoLongerALurker]

Hopefully silence from the big boys is because they're all stuck in a standoff waiting to see who comes over the top, like the last bonus season.

But I'm a pessimist so I fully don't expect anyone to actually come over the top. Especially when all the financial news in the world right now is "Oh, look, the recession is finally here."

[AureliusCapital]

Hopefully silence from the big boys is because they're all stuck in a standoff waiting to see who comes over the top, like the last bonus season.

But I'm a pessimist so I fully don't expect anyone to actually come over the top. Especially when all the financial news in the world right now is "Oh, look, the recession is finally here."

Overcorrection. Stock market will be back in 2 weeks. Plus plenty of other factors at play. M&A won't slow down any time soon.

[bigboybob]

Baker Matched as reported by ATL

[DoveBodyWash]

Hey DPW, how are you today?

Quiet so far. My guess is that they are deciding whether to (1) announce bonuses (unlikely this early in the year, IMO), (2) true up (?) the pay raise to the beginning of the year and/or (3) go over the top.

Predicting #1 and #3. They'll come over top and announce spring bonuses payable in April/May.

[bigboybob]

WilmerHale matched 215. DPW gonna set a new standard just to merk on these peeps.

[Anonymous User]

Some will wait 4 months for no particular reason, then match/"match".

Does it apply retroactively when they wait 4 months then match/"match"? I'd imagine no and the longer they wait, the more the firms save (from not paying 4 months of salary increase)

Bingo. This is what I'm fully expecting out of my cheap V50.

Anything other than retroactive to January 1 would not be a "match," not a match. January 1 is market.

[glitched]

No news = good news, right? Firms are waiting for DPW to go above it seems.

[Anonymous User]

No news = good news, right? Firms are waiting for DPW to go above it seems.

Agreed. If I'm recalling correctly the same firms that are jumping to match now are the same ones that jumped to match last time around as well before DPW went over the top.

The real compensation players are waiting it out. The ones hoping this stops at 215k are jumping to match.

[Anonymous User]

No news = good news, right? Firms are waiting for DPW to go above it seems.

WH associate here and I agree. I think the only reason we matched now is because the firm was going to send out comp letters today anyway with bonus info and everyone's new salary based on class year. That would not have gone over well without recognition of the interim* increase in market. Otherwise we'd be waiting for the market to move as usual.

*Only temporary until DPW tops it.

[Anonymous User]

No news = good news, right? Firms are waiting for DPW to go above it seems.

WH associate here and I agree. I think the only reason we matched now is because the firm was going to send out comp letters today anyway with bonus info and everyone's new salary based on class year. That would not have gone over well without recognition of the interim* increase in market. Otherwise we'd be waiting for the market to move as usual.

*Only temporary until DPW tops it.

Can somebody lay out the logic behind why DPW would raise? I want to believe it to be true but am skeptical.

[Anonymous User]

Double post

[Anonymous User]

No news = good news, right? Firms are waiting for DPW to go above it seems.

WH associate here and I agree. I think the only reason we matched now is because the firm was going to send out comp letters today anyway with bonus info and everyone's new salary based on class year. That would not have gone over well without recognition of the interim* increase in market. Otherwise we'd be waiting for the market to move as usual.

*Only temporary until DPW tops it.

Can somebody lay out the logic behind why DPW would raise? I want to believe it to be true but am skeptical.

Is it the Milbank scale or the dpw scale? They can afford it, the question is if they want to be known as market leaders or not.

[Wanderingdrock]

No news = good news, right? Firms are waiting for DPW to go above it seems.

WH associate here and I agree. I think the only reason we matched now is because the firm was going to send out comp letters today anyway with bonus info and everyone's new salary based on class year. That would not have gone over well without recognition of the interim* increase in market. Otherwise we'd be waiting for the market to move as usual.

*Only temporary until DPW tops it.

Can somebody lay out the logic behind why DPW would raise? I want to believe it to be true but am skeptical.

They've done it multiple times before. It must be a preftige thing. I'm just an associate at a lowly V25 market-follower, so take this with the appropriate skepticism that I know what I'm talking about, but I assume DPW sees value in being THE market-setter (aka, having the most - biggest? highest? - preftige). Whether that value is true economic value derived from getting the pick of the crop of top law school (hehe see what I did there) students or something more intangible, like the swagger the partners feel in front of Cravath and Milbank partners or the fuzzy feeling they get throwing a little bit extra their associates' way, there's gotta be something.

Anyway, they're probably not going to raise salaries, just announce modest spring bonuses.