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

[Johann]

When the tech bubble bursts and the circle jerk around coders and entrepreneurs is over, BigLaw will still be chugging away, with its participants paid upwards of $1,000/hour for their non-existent talents. I'll take it.

you know the equivalent of partners i.e. tech people at google make 5x-20x that right?

[fats provolone]

but you did read hes not a junior associate anymore and juniors dont even have bios? its like a pyramid. you need 10X at the base of random junior and 1x at the middle of senior and .1x at partner bringing in deals (which is already a given). there is no talent shortage if we are just considering random ivy degrees talent. we are the age of education excess.

the dude i posted has been there 15 years. he was the lowest dude on the total pole that i found with a bio. i just searched for penn degrees.

https://www.cravath.com/jcanning/

[UnicornHunter]

Big law is egregiously scheming together to fix salaries and drive down competition, there is zero evidence that individual firms are the relevant decision makers here. Of course the industry is strongly motivated to keep their talent pool competitive, their long term health depends on it.

Also, I don't see where people are getting that the talent pool is the same at the top and therefore the top firms aren't being effected. The biggest drop in LSATs over the last few years has been elite scorers. I know we all want to think we aren't dumber than the class years ahead of us, but there is strong evidence that we are, on average.

Are you serious with this? You think that salaries are being intentionally fixed by a cabal of biglaw firms? And that they will coordinate their pay raises to encourage more talented people to become lawyers? This is some illuminati shit.

Indeed it is. And, therefore, it's entirely appropriate. Frankly, I'm disappointed that this thread turned away from conspiracies over the last few pages. Do you think NY to 190K is going to happen without shady cabals engaged in clandestine meetings? Think again, my friend.

Nah, NYC to 190 would have happened YEARS ago without an express and clandestine price fixing agreement. Talented associates are a RARE commodity and their value in a free market would be close to infinite.

[jbagelboy]

Legal "talent" may be a myth but there is still a limited pool of people with strong credentials. Those credentials are what clients pay for, because it helps clients justify their decisions and keep their jobs. 160k is not a lot of money for people with the right credentials.

no dude there is still plenty of people with good law degrees. what credentials are you talking about?

cravath isn't full of random kids who went to penn but have nothing else going for them.

It basically is though.

these payoffs are the main reason i love visiting the ontopics. jpolk thinking hes the talent law firm needs. gets lawyered in 2 lines based on the argument he created.

Naw homie, you're thinking too narrowly about credentials. But Harvard/harvard is not some random penn kid

The vast majority of my law school class (not penn) holds bachelors degrees from elite institutions e.g. Harvard college. So the mean student has those credentials (not the masters, but thats a poor example -- there are k-jds with a BA from queens college and a JD from fordham at cravath/ect). You should stop fetichizing the NY V5 or corporate law firms in general. The credentials they look for are really where you went to law school and what grades you received there, with relevant work experience as a bonus. Personality matters quite a bit too, but that's not what we're talking about here.

None of this is on topic. This is about how we are all getting paid more very very soon, not the composition of some law firm's starting class.

[fats provolone]

you apparently don't get a website bio at cravath until your 15th year. so i'm not sure how all these junior associate credentials can be highly valuable and bringing in megabusiness.

[anyriotgirl]

you apparently don't get a website bio at cravath until your 15th year. so i'm not sure how all these junior associate credentials can be highly valuable and bringing in megabusiness.

maybe cravath is just embarrassed by its current junior crop of lowly penn law review members

[anyriotgirl]

when cravath moves to 190, it will attract harvard and yale law review members and will reinstate bio pages for juniors

[Mamba1991]

When the tech bubble bursts and the circle jerk around coders and entrepreneurs is over, BigLaw will still be chugging away, with its participants paid upwards of $1,000/hour for their non-existent talents. I'll take it.

you know the equivalent of partners i.e. tech people at google make 5x-20x that right?

you know the equivalent of associates i.e. low-level tech people and coders make less than 160k and are subject to a complete decimation of their profession with the slightest market shift. Show me a tech position that has been highly compensated with great volume in every major US market for the past 150 years

[fats provolone]

When the tech bubble bursts and the circle jerk around coders and entrepreneurs is over, BigLaw will still be chugging away, with its participants paid upwards of $1,000/hour for their non-existent talents. I'll take it.

you know the equivalent of partners i.e. tech people at google make 5x-20x that right?

you know the equivalent of associates i.e. low-level tech people and coders make less than 160k and are subject to a complete decimation of their profession with the slightest market shift. Show me a tech position that has been highly compensated with great volume in every major US market for the past 150 years

the legal field's complete dominance of the high-tech computing field in the reconstruction era is of great relevance and reassurance for me.

[Johann]

When the tech bubble bursts and the circle jerk around coders and entrepreneurs is over, BigLaw will still be chugging away, with its participants paid upwards of $1,000/hour for their non-existent talents. I'll take it.

you know the equivalent of partners i.e. tech people at google make 5x-20x that right?

you know the equivalent of associates i.e. low-level tech people and coders make less than 160k and are subject to a complete decimation of their profession with the slightest market shift. Show me a tech position that has been highly compensated with great volume in every major US market for the past 150 years

the literal only thing i love about the legal industry is that people like you keep coming aboard. welcome. enjoy your fucked life.

[Mamba1991]

When the tech bubble bursts and the circle jerk around coders and entrepreneurs is over, BigLaw will still be chugging away, with its participants paid upwards of $1,000/hour for their non-existent talents. I'll take it.

you know the equivalent of partners i.e. tech people at google make 5x-20x that right?

you know the equivalent of associates i.e. low-level tech people and coders make less than 160k and are subject to a complete decimation of their profession with the slightest market shift. Show me a tech position that has been highly compensated with great volume in every major US market for the past 150 years

the literal only thing i love about the legal industry is that people like you keep coming aboard. welcome. enjoy your fucked life.

glad to be here, man.

[Byakuya769]

When the tech bubble bursts and the circle jerk around coders and entrepreneurs is over, BigLaw will still be chugging away, with its participants paid upwards of $1,000/hour for their non-existent talents. I'll take it.

you know the equivalent of partners i.e. tech people at google make 5x-20x that right?

you know the equivalent of associates i.e. low-level tech people and coders make less than 160k and are subject to a complete decimation of their profession with the slightest market shift. Show me a tech position that has been highly compensated with great volume in every major US market for the past 150 years

At what companies? The equivalent credentialed software engineer at a tech firm is making a solid base salary above 100k, and progressively larger bonuses. Oh, and they're 23 without law school debt.

I'm not complaining about BigLaw salary (especially when I get that 1st years to 190k, mid-level bump ), because what we make is rare, but there are definitely other options. This was just the most straightforward for cowards like us.

[fats provolone]

also ljl at biglaw associate being a stable job

[Mamba1991]

..

[Mamba1991]

also ljl at biglaw associate being a stable job

nobody said the job was "stable." But there are, and have always been, biglaw jobs. The tech phenomenon of paying fresh college grads with CS degrees 100k right out of school is a new one, and one that won't last long. The rapid growth of Silicon Valley startups, many of which are financed with huge levels of VC debt, and its well-paid engineers, has forced Google and FB to pay these salaries. Law has paid these comparatively high salaries for 150 years and will continue to do so long after tech firms go bankrupt.

[fats provolone]

also ljl at biglaw associate being a stable job

nobody said the job was "stable." But there are, and have always been, biglaw jobs. The tech phenomenon of paying fresh college grads with CS degrees 100k right out of school is a new one, and one that won't last long. The rapid growth of Silicon Valley startups, many of which are financed with huge levels of VC debt, and its well-paid engineers, has forced Google and FB to pay these salaries. Law has paid these comparatively high salaries for 150 years and will continue to do so long after tech firms go bankrupt.

agreed, the internet is a fad.

how exactly does the fact that there "are, and have always have been, biglaw jobs [for 150 years]" (not even remotely true but w/e) help me?

[Desert Fox]

[fats provolone]

also ljl at biglaw associate being a stable job

I'm vaguely sure I have have a job through Janurary. But that's about far as I'll go.

Plus when the tech bubble pops--lawyers are going to get pwnded too. Maybe even harder. Most programmers work for legit companies that a profitable in slumps.

lawyers are barnacles on big companies underbellies. what does this dude think happens to barnacles when the whale dies

[barkschool]

also ljl at biglaw associate being a stable job

I'm vaguely sure I have have a job through Janurary. But that's about far as I'll go.

Plus when the tech bubble pops--lawyers are going to get pwnded too. Maybe even harder. Most programmers work for legit companies that a profitable in slumps.

lawyers are barnacles on big companies underbellies. what does this dude think happens to barnacles when the whale dies

I agree, F500 companies could really give a shit about increasing their overhead costs for the sake of one person over another.

[Johann]

also ljl at biglaw associate being a stable job

I'm vaguely sure I have have a job through Janurary. But that's about far as I'll go.

Plus when the tech bubble pops--lawyers are going to get pwnded too. Maybe even harder. Most programmers work for legit companies that a profitable in slumps.

lawyers are barnacles on big companies underbellies. what does this dude think happens to barnacles when the whale dies

barnacles have been around since the big bang and sharks have only been around for 5 million years so i dont know but barnacles have existed for 7.2 billion years so we are good

[Mamba1991]

also ljl at biglaw associate being a stable job

I'm vaguely sure I have have a job through Janurary. But that's about far as I'll go.

Plus when the tech bubble pops--lawyers are going to get pwnded too. Maybe even harder. Most programmers work for legit companies that a profitable in slumps.

lawyers are barnacles on big companies underbellies. what does this dude think happens to barnacles when the whale dies

They're pretty resilient barnacles on whales who, out of the entire ecosystem, are the least likely to die. How are you contesting the fact that BigLaw clients, some of the largest, most stable companies in this world, will continue to pay lawyers for their services? Sure, enourmous firms like Skadden and the rest of them will take a hit when their smaller clients in tech dry up. But they won't cease to exist and will continue to hire with great volume (save a once in 100 yr. recession). The same can't be said about the tech industry.

[fats provolone]

you don't think bank of america's legal spending is gonna change when the entire tech industry apparently goes bankrupt? you know we're not even a decade removed from mass layoffs in biglaw right?

you're talking about a $160k/yr job that requires 3 years of post-grad schooling which for most people means accumulating a mountain of debt, that you can expect to work at for somewhere between zero and ?? years, with no real idea when you're going to get told you need to find something else in the next 3-6 months. oh and the hours are terrible and your skills are not portable to any other industry.

oh, and an industry that is highly leveraged with fungible junior attorneys and run by partnerships who are highly sensitive to year-to-year changes in PPP. so any downturn in the economy, in any industry, not just tech, is going to result in shrinking biglaw classes and associates being stealthed. meanwhile brogrammer #9 at snapchat can just move to atlanta and work for accenture if silicon valley blows up.

[2014]

also ljl at biglaw associate being a stable job

I'm vaguely sure I have have a job through Janurary. But that's about far as I'll go.

Plus when the tech bubble pops--lawyers are going to get pwnded too. Maybe even harder. Most programmers work for legit companies that a profitable in slumps.

lawyers are barnacles on big companies underbellies. what does this dude think happens to barnacles when the whale dies

barnacles have been around since the big bang and sharks have only been around for 5 million years so i dont know but barnacles have existed for 7.2 billion years so we are good

I hope this gets the appreciation it deserves.

[Mamba1991]

you don't think bank of america's legal spending is gonna change when the entire tech industry apparently goes bankrupt? you know we're not even a decade removed from mass layoffs in biglaw right?

you're talking about a $160k/yr job that requires 3 years of post-grad schooling which for most people means accumulating a mountain of debt, that you can expect to work at for somewhere between zero and ?? years, with no real idea when you're going to get told you need to find something else in the next 3-6 months. oh and the hours are terrible and your skills are not portable to any other industry.

oh, and an industry that is highly leveraged with fungible junior attorneys and run by partnerships who are highly sensitive to year-to-year changes in PPP. so any downturn in the economy, in any industry, not just tech, is going to result in shrinking biglaw classes and associates being stealthed. meanwhile brogrammer #9 at snapchat can just move to atlanta and work for accenture if silicon valley blows up.

I would love to see industry-specific lay-off and bakruptcy data for the post-dotcom bubble burst vs. 2007-2011 Biglaw

Look, I'm not saying Biglaw is some type of perfect profession or that it is a holy grail that allows one to live a comfortable, risk-free life. But it's a valuable service industry that pay well (190k?) and has remained comparatively constant in its employment of top law students for the better part of the last century. I will feel more job security at a Biglaw firm than I would at a Silicon Valley start-up or even Google for that matter.

[fats provolone]

I will feel more job security at a Biglaw firm than I would at a Silicon Valley start-up or even Google for that matter.

yea this is crazy