NYC to 200k Forum

[Tefinn]

Finally, I'd also say that I doubt K&Es average partner and counsel billing rates are really the same nationally even if they bill associates out at the same rates. Partner rates tend to be determined on an individualized basis, and most of the really high-dollar practitioners will almost certainly be in NYC (and maybe Chicago in the case of K&E). While you can argue that's not relevant to associate comp, it does tend to impact overall profitability of an office. A partner making $1 million a year may look at a $190k first year differently from a partner making $500k a year.

Why bother opining when you are so verifiably ignorant?

If you'd like to correct something specific I've said, that would be a valuable addition to the discussion. If you are just going to add a snarky attack, you are just bringing the thread down. I hope you aren't associated with K&E.

Ignore the trolls hiding behind the rampant misuse of the anon function. Being a tax practitioner, I’ve always found your contributions to this forum to be particularly valuable.

^Dang, accidental anon myself

[nealric]

Finally, I'd also say that I doubt K&Es average partner and counsel billing rates are really the same nationally even if they bill associates out at the same rates. Partner rates tend to be determined on an individualized basis, and most of the really high-dollar practitioners will almost certainly be in NYC (and maybe Chicago in the case of K&E). While you can argue that's not relevant to associate comp, it does tend to impact overall profitability of an office. A partner making $1 million a year may look at a $190k first year differently from a partner making $500k a year.

Why bother opining when you are so verifiably ignorant?

If you'd like to correct something specific I've said, that would be a valuable addition to the discussion. If you are just going to add a snarky attack, you are just bringing the thread down. I hope you aren't associated with K&E.

Ignore the trolls hiding behind the rampant misuse of the anon function. Being a tax practitioner, I’ve always found your contributions to this forum to be particularly valuable.

Thanks for the kind words. It's always a balance between ignoring the trolls and giving people the benefit of the doubt.

[Anonymous User]

Anyone think firms will change hours requirements in exchange for the raises?

[Anonymous User]

I had a dream last night I woke up to find a 3am email from Milbank announcing a salary raise to $205k. I did not dream about the middle class/upper class divide, white privilege, L S L, or bodegas. Discuss.

[Anonymous User]

I had a dream last night I woke up to find a 3am email from Milbank announcing a salary raise to $205k. I did not dream about the middle class/upper class divide, white privilege, L S L, or bodegas. Discuss.

[Right2BearArms]

Finally, I'd also say that I doubt K&Es average partner and counsel billing rates are really the same nationally even if they bill associates out at the same rates. Partner rates tend to be determined on an individualized basis, and most of the really high-dollar practitioners will almost certainly be in NYC (and maybe Chicago in the case of K&E). While you can argue that's not relevant to associate comp, it does tend to impact overall profitability of an office. A partner making $1 million a year may look at a $190k first year differently from a partner making $500k a year.

Why bother opining when you are so verifiably ignorant?

If you'd like to correct something specific I've said, that would be a valuable addition to the discussion. If you are just going to add a snarky attack, you are just bringing the thread down. I hope you aren't associated with K&E.

Not associated with K&E, but at a peer firm in Houston, everyone bills out at national rates. The "cheap" partners bill at $1000-1100/hour and midlevel associates are $750-900 depending on the engagement and deal.

There are plenty of cheaper attorneys in Texas, and lots of companies have multiple firms, but the top end of the top end (VE, BB, LW, K&E, STB) bill at rates that match anywhere else in the country for their corporate work. Can't really speak to litigation since that is not what I do.

[Anonymous User]

Finally, I'd also say that I doubt K&Es average partner and counsel billing rates are really the same nationally even if they bill associates out at the same rates. Partner rates tend to be determined on an individualized basis, and most of the really high-dollar practitioners will almost certainly be in NYC (and maybe Chicago in the case of K&E). While you can argue that's not relevant to associate comp, it does tend to impact overall profitability of an office. A partner making $1 million a year may look at a $190k first year differently from a partner making $500k a year.

Why bother opining when you are so verifiably ignorant?

If you'd like to correct something specific I've said, that would be a valuable addition to the discussion. If you are just going to add a snarky attack, you are just bringing the thread down. I hope you aren't associated with K&E.

Not associated with K&E, but at a peer firm in Houston, everyone bills out at national rates. The "cheap" partners bill at $1000-1100/hour and midlevel associates are $750-900 depending on the engagement and deal.

There are plenty of cheaper attorneys in Texas, and lots of companies have multiple firms, but the top end of the top end (VE, BB, LW, K&E, STB) bill at rates that match anywhere else in the country for their corporate work. Can't really speak to litigation since that is not what I do.

You can take VE and BB off that list. They definitely bill at lower rates than the national/NYC firms. Midlevel associates are more like $500 - 700 with a few equity partners starting around $800.

[Anonymous User]

Texas to 200 sq. ft. wife NYC to $200k

[nealric]

Finally, I'd also say that I doubt K&Es average partner and counsel billing rates are really the same nationally even if they bill associates out at the same rates. Partner rates tend to be determined on an individualized basis, and most of the really high-dollar practitioners will almost certainly be in NYC (and maybe Chicago in the case of K&E). While you can argue that's not relevant to associate comp, it does tend to impact overall profitability of an office. A partner making $1 million a year may look at a $190k first year differently from a partner making $500k a year.

Why bother opining when you are so verifiably ignorant?

If you'd like to correct something specific I've said, that would be a valuable addition to the discussion. If you are just going to add a snarky attack, you are just bringing the thread down. I hope you aren't associated with K&E.

Not associated with K&E, but at a peer firm in Houston, everyone bills out at national rates. The "cheap" partners bill at $1000-1100/hour and midlevel associates are $750-900 depending on the engagement and deal.

There are plenty of cheaper attorneys in Texas, and lots of companies have multiple firms, but the top end of the top end (VE, BB, LW, K&E, STB) bill at rates that match anywhere else in the country for their corporate work. Can't really speak to litigation since that is not what I do.

You can take VE and BB off that list. They definitely bill at lower rates than the national/NYC firms. Midlevel associates are more like $500 - 700 with a few equity partners starting around $800.

Yeah, BB/VE have always been a bit cheaper than the national firms in my experience. However, most of the national firm Texas offices are still relatively new to the market and the market is still in transition. BB/VE is still figuring out how to respond to firms like LW and STB. I suppose it remains to be seen how things will shake out with billing rates in the end.

[Anonymous User]

[Anonymous User]

[Anonymous User]

[Anonymous User]

[Anonymous User]

Finally, I'd also say that I doubt K&Es average partner and counsel billing rates are really the same nationally even if they bill associates out at the same rates. Partner rates tend to be determined on an individualized basis, and most of the really high-dollar practitioners will almost certainly be in NYC (and maybe Chicago in the case of K&E). While you can argue that's not relevant to associate comp, it does tend to impact overall profitability of an office. A partner making $1 million a year may look at a $190k first year differently from a partner making $500k a year.

Why bother opining when you are so verifiably ignorant?

If you'd like to correct something specific I've said, that would be a valuable addition to the discussion. If you are just going to add a snarky attack, you are just bringing the thread down. I hope you aren't associated with K&E.

Not associated with K&E, but at a peer firm in Houston, everyone bills out at national rates. The "cheap" partners bill at $1000-1100/hour and midlevel associates are $750-900 depending on the engagement and deal.

There are plenty of cheaper attorneys in Texas, and lots of companies have multiple firms, but the top end of the top end (VE, BB, LW, K&E, STB) bill at rates that match anywhere else in the country for their corporate work. Can't really speak to litigation since that is not what I do.

You can take VE and BB off that list. They definitely bill at lower rates than the national/NYC firms. Midlevel associates are more like $500 - 700 with a few equity partners starting around $800.

Yeah, BB/VE have always been a bit cheaper than the national firms in my experience. However, most of the national firm Texas offices are still relatively new to the market and the market is still in transition. BB/VE is still figuring out how to respond to firms like LW and STB. I suppose it remains to be seen how things will shake out with billing rates in the end.

Non-specialist VE/BB 4th year here billing at $700/hr. Our transactional tax star partners are at $1500. Is that really much cheaper than national firms? If so, jeez...

[Anonymous User]

My buddy at KE as a third year in the Houston office is $850 I think.

Houston BigLaw deserve this raise just as much as our NY peers. I think we're more profitable. I heard, for example, that the KE office in Houston is the most profitable out of all their offices.

[Anonymous User]

I think we're more profitable.

You Latham Houston kids love this line.

[Anonymous User]

Me waiting to see what happens to all these folks using (likely) firm computers to share their rates on TLS...

[Anonymous User]

Me waiting to see what happens to all these folks using (likely) firm computers to share their rates on TLS...

I would imagine absolutely nothing.

[Anonymous User]

Salaries and bonuses are the biggest news event in our sad little lives.

The whole concept of lockstep salary depends on our leaking of the memos. That's why they write them the way that they do.

[Anonymous User]

Incoming Associate at a V5 that hasn’t matched yet.

Is there a consensus on why it’s taking so long for firms like Skadden, DPW, S&C (etc.) to at least match the salary increases of Cravath & Simpson? I assumed the partnerships would be thrilled it wasn’t $200K out of Cravath, and then match in short order.

There’s no way those firms go into OCI while direct competitors are paying $10K more a year for incoming talent... right? (TLDR: Tell me I’m not crazy and that a raise is coming)

[Anonymous User]

Incoming Associate at a V5 that hasn’t matched yet.

Is there a consensus on why it’s taking so long for firms like Skadden, DPW, S&C (etc.) to at least match the salary increases of Cravath & Simpson? I assumed the partnerships would be thrilled it wasn’t $200K out of Cravath, and then match in short order.

There’s no way those firms go into OCI while direct competitors are paying $10K more a year for incoming talent... right? (TLDR: Tell me I’m not crazy and that a raise is coming)

Have you even been following this thread?

[Anonymous User]

PW matched Cravath scale plus bonus

[Anonymous User]

Pls poast the memo

[Anonymous User]

Incoming Associate at a V5 that hasn’t matched yet.

Is there a consensus on why it’s taking so long for firms like Skadden, DPW, S&C (etc.) to at least match the salary increases of Cravath & Simpson? I assumed the partnerships would be thrilled it wasn’t $200K out of Cravath, and then match in short order.

There’s no way those firms go into OCI while direct competitors are paying $10K more a year for incoming talent... right? (TLDR: Tell me I’m not crazy and that a raise is coming)

Have you even been following this thread?

The whole point of this question was to announce the bolded without adding anything to the discussion.

[minnbills]

"Equities in Dallas!!"