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

[Anonymous User]

I do find it hilarious that first years at Norton Rose Fulbright are getting paid more than those at Cravaaaaaaaaaath.

[TigerIsBack]

I’ve actually asked several partners and those in the know at my V5 in casual conversations and the answers have just been “eh, we don’t consider Milbank a peer.”

(Though we have lose several associates to Cooley in the past few years so….)

That's amazing. Ask the partner how deeply his head is up his ass that he doesn't feel the need to match a salary scale that's already been adopted by Milbank, Cadwalader, McDermott, Fried Frank, Goodwin, Irell, Baker, Wilmer, DLA, Winston, and Cooley.

At this point, this is becoming offensive. The vaunted "V10," which feels it has the prerogative to work its associates to the bone, doesn't seem to have the wherewithal to get its act together and bring its attorneys to market-compensation when so many "lesser" *firms in the V50 have all seemingly woken up and gotten off their collective asses.

Has anyone gone back at looked at any of the memos of the v10 in previous raise/bonus announcements? I assume most of them have something to the effect of "we are committed to paying top of the market compensation to our attorneys".

I hope some of them do match tomorrow and have the gall to include that line in their memo so we can laugh at them.

[Anonymous User]

So where are all the posters from page 1 or 2 of this thread who were so condescending and confident that the raises would be coming any day now and that the rest of us were being stupid to be anxious about them? Looks like a decent chance they won't actually happen across the board now...

I wasn't here for the first few pages, but I'm surprised that people are already losing confidence that the raises will come. Sure, it's weird that they delayed, but does it really seem realistic at all to think that firms CSM (not to mention mega firms like LW and KE) will pay less than WilmerHale long term?

Everything we've seen (the Cahill comments, the Morgan Lewis email, the Cooley shadow match) suggests that the firms are waiting to see where the market settles before making their announcements, at which point they'll true us up. Doesn't mean we can't be mad that they're taking so long, but it's ridiculous to think matches aren't coming.

ETA: The only real drama is to see if anyone tops Milbank, and if they do the wait will have been well worth it.

[Anonymous User]

I'm at Winston and can't believe I'm making more than V10 attorneys. I'm sure firm leadership is wondering if they matched too quickly.

[Anonymous User]

So where are all the posters from page 1 or 2 of this thread who were so condescending and confident that the raises would be coming any day now and that the rest of us were being stupid to be anxious about them? Looks like a decent chance they won't actually happen across the board now...

I wasn't here for the first few pages, but I'm surprised that people are already losing confidence that the raises will come. Sure, it's weird that they delayed, but does it really seem realistic at all to think that firms CSM (not to mention mega firms like LW and KE) will pay less than WilmerHale long term?

Everything we've seen (the Cahill comments, the Morgan Lewis email, the Cooley shadow match) suggests that the firms are waiting to see where the market settles before making their announcements, at which point they'll true us up. Doesn't mean we can't be mad that they're taking so long, but it's ridiculous to think matches aren't coming.

a month after milbank scale "yeah man any day now they'll definitely match 100%"

[Anonymous User]

So where are all the posters from page 1 or 2 of this thread who were so condescending and confident that the raises would be coming any day now and that the rest of us were being stupid to be anxious about them? Looks like a decent chance they won't actually happen across the board now...

I wasn't here for the first few pages, but I'm surprised that people are already losing confidence that the raises will come. Sure, it's weird that they delayed, but does it really seem realistic at all to think that firms CSM (not to mention mega firms like LW and KE) will pay less than WilmerHale long term?

Everything we've seen (the Cahill comments, the Morgan Lewis email, the Cooley shadow match) suggests that the firms are waiting to see where the market settles before making their announcements, at which point they'll true us up. Doesn't mean we can't be mad that they're taking so long, but it's ridiculous to think matches aren't coming.

a month after milbank scale "yeah man any day now they'll definitely match 100%"

I mean, yes. Might not be any day now, but there's really no scenario where most firms don't match.

[Anonymous User]

I’ve actually asked several partners and those in the know at my V5 in casual conversations and the answers have just been “eh, we don’t consider Milbank a peer.”

(Though we have lose several associates to Cooley in the past few years so….)

Major cope. Enjoy the preftige, I'll be eating lobster.

[Anonymous User]

What does it mean for the "market to settle" at this point? Aren't things pretty settled?

[Anonymous User]

What does it mean for the "market to settle" at this point? Aren't things pretty settled?

When DPW sheepishly matches

[JorgeMichael]

What does it mean for the "market to settle" at this point? Aren't things pretty settled?

When DPW sheepishly matches

Or any V5 really. Kind of crazy how Milbank/McDermott/Goodwin are just stunting on the V5 right now. Must suck working for such greedy partners.

[Anonymous User]

Anyone remember when CravaTTTh was the compensation leader? LMFAO. Now they can't even match Millbank until big daddy Neil at DPW says it's OK.

[Anonymous User]

People are being dumb here; DPW is clearly just trying to flex/slow the pace of salary growth: firms like Cooley matching makes all respectable firms matching inevitable. Tech firms like Goodwin and Cooley are eating the V10s lunch in terms of associate talent. I could easily see this going on for another month, but we're all going to get trued up. Could potentially suck for laterals if their firms don't match before they leave though.

[Anonymous User]

People are being dumb here; DPW is clearly just trying to flex/slow the pace of salary growth: firms like Cooley matching makes all respectable firms matching inevitable. Tech firms like Goodwin and Cooley are eating the V10s lunch in terms of associate talent. I could easily see this going on for another month, but we're all going to get trued up. Could potentially suck for laterals if their firms don't match before they leave though.

Nah this makes no sense. If they just match then next time the other V10s wont wait.

The only reason they are waiting is because of the perception that so long DPW has not spoken, the market hasn't settled. Because last couple of times, DPW raised. But if they don't raise, next time nobody will expect them to and Milbank will continue to set the market.

Nothing is going to slow down. Kirkland will not let Milbank pay more than them.

[2013]

People are being dumb here; DPW is clearly just trying to flex/slow the pace of salary growth: firms like Cooley matching makes all respectable firms matching inevitable. Tech firms like Goodwin and Cooley are eating the V10s lunch in terms of associate talent. I could easily see this going on for another month, but we're all going to get trued up. Could potentially suck for laterals if their firms don't match before they leave though.

I spotted a Goodwin associate.

Cooley >>>>>>>>>>>>>>>>> Goodwin in terms of associate talent.

[Anonymous User]

Depends on what, no? Seems to me like Goodwin leads in the life sciences space.

[Anonymous User]

Depends on what, no? Seems to me like Goodwin leads in the life sciences space.

Goodwin wins in Boston and is really nothing impressive anywhere else. Their Boston life sciences practice does seem to be thriving, though.

[Anonymous User]

My pay check today was bigger than an associate at Cravath or DPW…lmao.

[Anonymous User]

Spoke to a friend that is a non-DPW V5 partner and apparently their internal view is that they don’t need to match until a “peer” does and don’t see a reason to move first since they can pay people blackbox bonuses during the year to keep them in their seats

[Anonymous User]

I'm at Winston and can't believe I'm making more than V10 attorneys. I'm sure firm leadership is wondering if they matched too quickly.

Winston was one of the only firms to not make it retroactive to Jan 1 so I'm sure they wished they held off for even longer to save a bit more.

[Anonymous User]

I'm sure firms dgaf about law students but I'll absolutely try and use 3L oci to go to a matching firm over the V10 I'm going to if they don't match. So I have a hard time imagining actual associates wouldn't feel the same re: lateraling.

[Anonymous User]

I'm sure firms dgaf about law students but I'll absolutely try and use 3L oci to go to a matching firm over the V10 I'm going to if they don't match. So I have a hard time imagining actual associates wouldn't feel the same re: lateraling.

Yeah I'm considering the exact same thing right now. Couldn't hurt to start getting the applications ready.

[Anonymous User]

I'm sure firms dgaf about law students but I'll absolutely try and use 3L oci to go to a matching firm over the V10 I'm going to if they don't match. So I have a hard time imagining actual associates wouldn't feel the same re: lateraling.

If you want to prove a point I guess you can, and the firm certainly doesn’t deserve anything. But you do know they will match right? By the time you start your salary will be the same as Milbank.

[Anonymous User]

Spoke to a friend that is a non-DPW V5 partner and apparently their internal view is that they don’t need to match until a “peer” does and don’t see a reason to move first since they can pay people blackbox bonuses during the year to keep them in their seats

Translation: v5 partners’ heads are very, very far up their own asses.

[Anonymous User]

To all the V10 associates coping right now about their sub-market non-peer TTT compensation, you understand that it isn't just about whether the firm will "eventually" match, right? I.e., that there's something inherently classless and "fuck you" about working for a partnership that takes the attitude of "we'll adjust your compensation when we feel like it, what's the rush?" I know we've all been used and abused and so lack much remaining sense of self worth but this isn't a good look for V10 firms right now.

[Anonymous User]

To all the V10 associates coping right now about their sub-market non-peer TTT compensation, you understand that it isn't just about whether the firm will "eventually" match, right? I.e., that there's something inherently classless and "fuck you" about working for a partnership that takes the attitude of "we'll adjust your compensation when we feel like it, what's the rush?" I know we've all been used and abused and so lack much remaining sense of self worth but this isn't a good look for V10 firms right now.

+1