NYC to 200k Forum

[Anonymous User]

Wtf are Skadden, Latham, etc. doing. Let's go biiittccheesss.

DPW probably waiting for S&C and/or waiting until Thursday so it doesn’t look like we’re following CSM as eagerly as we actually are

The email today about interior offices was a nice touch.

I don’t believe for a second that we lose our place in line for a window seat if we opt for an internal office. Clearly they think the interior is an upgrade based on top-down availability

[Anonymous User]

I'm guessing Cravath threw a wrench in everything yesterday by upping Milbank's midlevel pay. Now all the players have to re-convene their firm committees and vote again on the new scale, which takes time.

[Anonymous User]

Debevoise

[Anonymous User]

Debevoise matches Cravath scale and bonus.

[Anonymous User]

Debevoise

Confirmed. Matched new scale + bonus

[Anonymous User]

Since there have been so many trolls, can we get a screenshot of the memo?

[Anonymous User]

Serious and hopeful analysis/fanfic: If there is still not a large consensus of the big & rich firms (DPW, KE, Skadden, SC, GDC, Weil, etc) by the end of the day, I think there is strong hope for 200k.

When Proskauer & Winston Strawn matched Milbank v quickly, we all knew right away that they were trying to cement that as the status quo, out of fear of even higher rises, rather than raising out of generosity.

Really, how is what Cravath did any different? 5 or 10k for midlevels is far, far less expensive than a raise for the hundreds of first, second and third years. It was really a cheap trick, trying to get credit for nothing at all.

The very fact that a full week after Milbank and 24 hours after Cravath we are still seeing significant players, and the majority of the market, holding out suggests genuine fear of continued raises, and continued embarrassment. What if, for the first time, Cravath has misjudged the market. Maybe they thought they had done enough - maybe they thought they would trigger a flood of matches but instead... they have to re-raise?

[OneTwoThreeFour]

Since there have been so many trolls, can we get a screenshot of the memo?

https://abovethelaw.com/2018/06/debevoi ... s-cravath/

[Anonymous User]

Debevoise & PIMPTOWN

[Anonymous User]

Is there a chance Boston firms don’t match? Would look very bad if Ropes, Wilmer and Goodwin can’t even match Proskauer in Boston.

It is so unlikely that they don't match that for all practical purposes Boston will be paying market.

[Anonymous User]

Serious and hopeful analysis/fanfic: If there is still not a large consensus of the big & rich firms (DPW, KE, Skadden, SC, GDC, Weil, etc) by the end of the day, I think there is strong hope for 200k.

When Proskauer & Winston Strawn matched Milbank v quickly, we all knew right away that they were trying to cement that as the status quo, out of fear of even higher rises, rather than raising out of generosity.

Really, how is what Cravath did any different? 5 or 10k for midlevels is far, far less expensive than a raise for the hundreds of first, second and third years. It was really a cheap trick, trying to get credit for nothing at all.

The very fact that a full week after Milbank and 24 hours after Cravath we are still seeing significant players, and the majority of the market, holding out suggests genuine fear of continued raises, and continued embarrassment. What if, for the first time, Cravath has misjudged the market. Maybe they thought they had done enough - maybe they thought they would trigger a flood of matches but instead... they have to re-raise?

I am summering with one of the firms you mentioned and had lunch with a partner. He said they've already decided to match but just need a little extra time to send out the email. He said nothing about going to 200k.

[Anonymous User]

Serious and hopeful analysis/fanfic: If there is still not a large consensus of the big & rich firms (DPW, KE, Skadden, SC, GDC, Weil, etc) by the end of the day, I think there is strong hope for 200k.

When Proskauer & Winston Strawn matched Milbank v quickly, we all knew right away that they were trying to cement that as the status quo, out of fear of even higher rises, rather than raising out of generosity.

Really, how is what Cravath did any different? 5 or 10k for midlevels is far, far less expensive than a raise for the hundreds of first, second and third years. It was really a cheap trick, trying to get credit for nothing at all.

The very fact that a full week after Milbank and 24 hours after Cravath we are still seeing significant players, and the majority of the market, holding out suggests genuine fear of continued raises, and continued embarrassment. What if, for the first time, Cravath has misjudged the market. Maybe they thought they had done enough - maybe they thought they would trigger a flood of matches but instead... they have to re-raise?

I am summering with one of the firms you mentioned and had lunch with a partner. He said they've already decided to match but just need a little extra time to send out the email. He said nothing about going to 200k.

It's anonymous bro - give the name

[Anonymous User]

dictating the email

[Anonymous User]

Not that anonymous if you had lunch with a partner

[Anonymous User]

Is there a chance Boston firms don’t match? Would look very bad if Ropes, Wilmer and Goodwin can’t even match Proskauer in Boston.

I would imagine that Kirkland matches Cravath in Boston, which forces Ropes to match and then Wilmer/Goodwin match (and satellites like Cooley, Latham, Skadden, etc. that match firm-wide).

[Anonymous User]

Not that anonymous if you had lunch with a partner

Does only the one partner eat lunch?

[Anonymous User]

Real question here is whether the bonuses spread to DC. Any thoughts on that?

[Anonymous User]

Is there a chance Boston firms don’t match? Would look very bad if Ropes, Wilmer and Goodwin can’t even match Proskauer in Boston.

I would imagine that Kirkland matches Cravath in Boston, which forces Ropes to match and then Wilmer/Goodwin match (and satellites like Cooley, Latham, Skadden, etc. that match firm-wide).

Why on earth would Ropes not match in their main office (Boston)--the one they send all the summers to and associates for training? I think that would be dangerous.

[NakedPowerOrgan]

Real question here is whether the bonuses spread to DC. Any thoughts on that?

That’s the “real question here”?

[Anonymous User]

hard to imagine skadden and KE not matching in all offices (if they match at all)

[Anonymous User]

Real question here is whether the bonuses spread to DC. Any thoughts on that?

That’s the “real question here”?

Sure is

[Anonymous User]

Is there a chance Boston firms don’t match? Would look very bad if Ropes, Wilmer and Goodwin can’t even match Proskauer in Boston.

I would imagine that Kirkland matches Cravath in Boston, which forces Ropes to match and then Wilmer/Goodwin match (and satellites like Cooley, Latham, Skadden, etc. that match firm-wide).

Why on earth would Ropes not match in their main office (Boston)--the one they send all the summers to and associates for training? I think that would be dangerous.

All of them will match... Boston offices are having a terrible time recruiting / keeping midlevels, esp as the KE/HL/Quinn shops open and grow.

[Anonymous User]

Is there a chance Boston firms don’t match? Would look very bad if Ropes, Wilmer and Goodwin can’t even match Proskauer in Boston.

I would imagine that Kirkland matches Cravath in Boston, which forces Ropes to match and then Wilmer/Goodwin match (and satellites like Cooley, Latham, Skadden, etc. that match firm-wide).

Why on earth would Ropes not match in their main office (Boston)--the one they send all the summers to and associates for training? I think that would be dangerous.

All of them will match... Boston offices are having a terrible time recruiting / keeping midlevels, esp as the KE/HL/Quinn shops open and grow.

This. I can't imagine anything other than maybe summer bonuses being a NYC only thing. I think last time Ropes was a quick turnaround along with GP, but WH took some time (probably deciding on the Denver office).

[Anonymous User]

Serious and hopeful analysis/fanfic: If there is still not a large consensus of the big & rich firms (DPW, KE, Skadden, SC, GDC, Weil, etc) by the end of the day, I think there is strong hope for 200k.

When Proskauer & Winston Strawn matched Milbank v quickly, we all knew right away that they were trying to cement that as the status quo, out of fear of even higher rises, rather than raising out of generosity.

Really, how is what Cravath did any different? 5 or 10k for midlevels is far, far less expensive than a raise for the hundreds of first, second and third years. It was really a cheap trick, trying to get credit for nothing at all.

The very fact that a full week after Milbank and 24 hours after Cravath we are still seeing significant players, and the majority of the market, holding out suggests genuine fear of continued raises, and continued embarrassment. What if, for the first time, Cravath has misjudged the market. Maybe they thought they had done enough - maybe they thought they would trigger a flood of matches but instead... they have to re-raise?

I am summering with one of the firms you mentioned and had lunch with a partner. He said they've already decided to match but just need a little extra time to send out the email. He said nothing about going to 200k.

It's anonymous bro - give the name

[Anonymous User]

Is there a chance Boston firms don’t match? Would look very bad if Ropes, Wilmer and Goodwin can’t even match Proskauer in Boston.

I would imagine that Kirkland matches Cravath in Boston, which forces Ropes to match and then Wilmer/Goodwin match (and satellites like Cooley, Latham, Skadden, etc. that match firm-wide).

Why on earth would Ropes not match in their main office (Boston)--the one they send all the summers to and associates for training? I think that would be dangerous.

All of them will match... Boston offices are having a terrible time recruiting / keeping midlevels, esp as the KE/HL/Quinn shops open and grow.

OP above that mentioned Kirkland. Agreed that Ropes/Wilmer/Goodwin will match, meant more that Kirkland matching will definitely force Ropes to move more quickly than they might have otherwise, given that they’re fighting for mid levels in Boston. Guessing that as with 2016 Goodwin and Wilmer won’t move until after Ropes does.