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

[2014]

This is happening. Was walking around office today and door of partner's corner office was closed. I hear as I pass another partner from inside screaming "I cannot ducking believe we will start paying them 190k." I slowed down maybe I could overhear something else but no luck.

I heard this too from a friend at a V11-V15

[sublime]

..

[Desert Fox]

holy shit, a Davis Polk associate just immolated themselves at McPherson Square.

[2014]

This is happening. Was walking around office today and door of partner's corner office was closed. I hear as I pass another partner from inside screaming "I cannot ducking believe we will start paying them 190k." I slowed down maybe I could overhear something else but no luck.

I heard this too from a friend at a V11-V15

PW or non-PW?

Sorry cant out the firm but I can give a range of V14

[Pokemon]

What firm is this at?

This is happening. Was walking around office today and door of partner's corner office was closed. I hear as I pass another partner from inside screaming "I cannot ducking believe we will start paying them 190k." I slowed down maybe I could overhear something else but no luck.

And if you're not comfortable identifying the firm for fear of being outed, please provide Vault range within three places. TYIA.

V-20. Not PW.

[KM2016]

This is happening. Was walking around office today and door of partner's corner office was closed. I hear as I pass another partner from inside screaming "I cannot ducking believe we will start paying them 190k." I slowed down maybe I could overhear something else but no luck.

I heard this too from a friend at a V11-V15

PW or non-PW?

Sorry cant out the firm but I can give a range of V14

Every bone in my body is screaming "STFU, it's never going to happen," yet my heart is screaming "BELIEVE!"

[rpupkin]

What firm is this at?

This is happening. Was walking around office today and door of partner's corner office was closed. I hear as I pass another partner from inside screaming "I cannot ducking believe we will start paying them 190k." I slowed down maybe I could overhear something else but no luck.

And if you're not comfortable identifying the firm for fear of being outed, please provide Vault range within three places. TYIA.

V-20. Not PW.

So if you have indeed provided a Vault range within three places, you have narrowed our list down to three firms: Williams & Connolly (18), Jones Day (19), White & Case (20).

Williams & Connolly current pays its first years $200k. Jones Day is notoriously cheap and generally pays below market. And WhiTTTe & Case would never assume the role of market shatterer.

In other words, I think we've learned that Williams & Connolly is cutting first-year pay by $10K.

[mrs.miawallace]

What firm is this at?

This is happening. Was walking around office today and door of partner's corner office was closed. I hear as I pass another partner from inside screaming "I cannot ducking believe we will start paying them 190k." I slowed down maybe I could overhear something else but no luck.

And if you're not comfortable identifying the firm for fear of being outed, please provide Vault range within three places. TYIA.

V-20. Not PW.

So if you have indeed provided a Vault range within three places, you have narrowed our list down to three firms: Williams & Connolly (18), Jones Day (19), White & Case (20).

Williams & Connolly current pays its first years $200k. Jones Day is notoriously cheap and generally pays below market. And WhiTTTe & Case would never assume the role of market shatterer.

In other words, I think we've learned that Williams & Connolly is cutting first-year pay by $10K.

lol golden

[Anonymous User]

What firm is this at?

This is happening. Was walking around office today and door of partner's corner office was closed. I hear as I pass another partner from inside screaming "I cannot ducking believe we will start paying them 190k." I slowed down maybe I could overhear something else but no luck.

And if you're not comfortable identifying the firm for fear of being outed, please provide Vault range within three places. TYIA.

V-20. Not PW.

So if you have indeed provided a Vault range within three places, you have narrowed our list down to three firms: Williams & Connolly (18), Jones Day (19), White & Case (20).

Williams & Connolly current pays its first years $200k. Jones Day is notoriously cheap and generally pays below market. And WhiTTTe & Case would never assume the role of market shatterer.

In other words, I think we've learned that Williams & Connolly is cutting first-year pay by $10K.

This, I believe, is the most credible scenario.

[SplitMyPants]

ny to 190?

http://www.nytimes.com/2016/03/23/reale ... d=67900526

[kcdc1]

Time to cut the crap and UNIONIZE.

Let's talk plans. Who's in the union, and what's our strategy?

I'm in. I'll provide muscle, assaulting any contract attorney who crosses our picket lines.

I commend your enthusiasm, but we should count ourselves lucky if firms try to fill our ranks with "graduates" of TTT schools. More pressingly, we must focus on locking out the hordes of 170+ LSAT'ers living the GOOD LIFE in TECH right now.

[rpupkin]

Time to cut the crap and UNIONIZE.

Let's talk plans. Who's in the union, and what's our strategy?

I'm in. I'll provide muscle, assaulting any contract attorney who crosses our picket lines.

I commend your enthusiasm, but we should count ourselves lucky if firms try to fill our ranks with "graduates" of TTT schools. More pressingly, we must focus on locking out the hordes of 170+ LSAT'ers living the GOOD LIFE in TECH right now.

You may have it backwards. Based on the wisdom I've encountered in other TLS threads of late, associates who dislike big law should learn SQL, move to tech, and profit.

[kcdc1]

Time to cut the crap and UNIONIZE.

Let's talk plans. Who's in the union, and what's our strategy?

I'm in. I'll provide muscle, assaulting any contract attorney who crosses our picket lines.

I commend your enthusiasm, but we should count ourselves lucky if firms try to fill our ranks with "graduates" of TTT schools. More pressingly, we must focus on locking out the hordes of 170+ LSAT'ers living the GOOD LIFE in TECH right now.

You may have it backwards. Based on the wisdom I've encountered in other TLS threads of late, associates who dislike big law should learn SQL, move to tech, and profit.

Yes, that was the prevailing pre-strike wisdom. But we can't forget that the best 0L minds have recognized law school for the scam it is, and are now cashing their fat checks in TECH. In the post-strike world, what is to stop biglaw from dangling signing bonuses to lure them back into the fold? Ethical restrictions on practicing law without a license? Surely, minds like theirs will be worth the risk.

[Mr. Elshal]

Does anybody know when NY firms typically tell first years what their salaries will be?

Please note: While I am obviously certain that my pay will be $190,000, I simply want to know when the firm will 'fess up and put it on paper.

[Anonymous User]

I do know of one big law firm that normally pays market has increased its summer pay to 180k proratd for this summer

[KM2016]

I do know of one big law firm that normally pays market has increased its summer pay to 180k proratd for this summer

I smell bullshit. Out the firm.

[Mr. Elshal]

I do know of one big law firm that normally pays market has increased its summer pay to 180k proratd for this summer

I smell bullshit. Out the firm.

I agree. If you don't feel comfortable outing the firm as an anonymous poster (which should be enough protection), then write it on a slip of paper, hide it under a rock somewhere, and give us coordinates so that one of us can go find it and confirm. You can even use Bing Maps to give us the coordinates. Nobody would ever think to check Bing Maps.

[Mr. Peanutbutter]

I do know of one big law firm that normally pays market has increased its summer pay to 180k proratd for this summer

I smell bullshit. Out the firm.

I agree. If you don't feel comfortable outing the firm as an anonymous poster (which should be enough protection), then write it on a slip of paper, hide it under a rock somewhere, and give us coordinates so that one of us can go find it and confirm. You can even use Bing Maps to give us the coordinates. Nobody would ever think to check Bing Maps.

Also, this has happened earlier in this thread (or maybe a related one), but it could be that the poster took the bi-monthly pay and multiplied it by 26 (for 52 weeks of pay) instead of 24 (12 months of pay).

For example, my firm said it paid $6,666.66 every two weeks (x 26 and that would be just under $175k). In reality, it paid $6,666.66 twice a month (which equals $160k). For simplicity, though, they just paid the summers 10 weeks at $3,333/week.

[rpupkin]

Also, this has happened earlier in this thread (or maybe a related one), but it could be that the poster took the bi-monthly pay and multiplied it by 26 (for 52 weeks of pay) instead of 24 (12 months of pay).

For example, my firm said it paid $6,666.66 every two weeks (x 26 and that would be just under $175k). In reality, it paid $6,666.66 twice a month (which equals $160k). For simplicity, though, they just paid the summers 10 weeks at $3,333/week.

This is all very confusing. Is your point that NYC is going to $175K?

[Anonymous User]

Also, this has happened earlier in this thread (or maybe a related one), but it could be that the poster took the bi-monthly pay and multiplied it by 26 (for 52 weeks of pay) instead of 24 (12 months of pay).

For example, my firm said it paid $6,666.66 every two weeks (x 26 and that would be just under $175k). In reality, it paid $6,666.66 twice a month (which equals $160k). For simplicity, though, they just paid the summers 10 weeks at $3,333/week.

This is all very confusing. Is your point that NYC is going to $175K?

I think what OP is saying is that the way firms describe their payment system is different than how it actually works.

Paying something twice a month is not equivalent to paying something every week since (except Feb) months are longer than 4 weeks.

[rpupkin]

Also, this has happened earlier in this thread (or maybe a related one), but it could be that the poster took the bi-monthly pay and multiplied it by 26 (for 52 weeks of pay) instead of 24 (12 months of pay).

For example, my firm said it paid $6,666.66 every two weeks (x 26 and that would be just under $175k). In reality, it paid $6,666.66 twice a month (which equals $160k). For simplicity, though, they just paid the summers 10 weeks at $3,333/week.

This is all very confusing. Is your point that NYC is going to $175K?

I think what OP is saying is that the way firms describe their payment system is different than how it actually works.

Paying something twice a month is not equivalent to paying something every week since (except Feb) months are longer than 4 weeks.

Do you mind dispensing with the mathematical mumbo-jumbo? Just give it to us straight. Is firm paying $175K? $190K? Or is the point that the firm had adopted a 50-week calendar? So confused.

[Mr. Elshal]

Also, this has happened earlier in this thread (or maybe a related one), but it could be that the poster took the bi-monthly pay and multiplied it by 26 (for 52 weeks of pay) instead of 24 (12 months of pay).

For example, my firm said it paid $6,666.66 every two weeks (x 26 and that would be just under $175k). In reality, it paid $6,666.66 twice a month (which equals $160k). For simplicity, though, they just paid the summers 10 weeks at $3,333/week.

This is all very confusing. Is your point that NYC is going to $175K?

The point is that the person saying that a firm is giving its summers 180k prorated could have done the math wrong and multiplied the normal 6666.67 bimonthly pay by 26 two-week periods, rather than 24 half-month periods, which would yield ~175k, rather than the 160k that it actually is.

For anyone who wants to report on summer pay, 6666.67 per pay period is 160k. 7500 per pay period is 180k

[Mr. Peanutbutter]

Also, this has happened earlier in this thread (or maybe a related one), but it could be that the poster took the bi-monthly pay and multiplied it by 26 (for 52 weeks of pay) instead of 24 (12 months of pay).

For example, my firm said it paid $6,666.66 every two weeks (x 26 and that would be just under $175k). In reality, it paid $6,666.66 twice a month (which equals $160k). For simplicity, though, they just paid the summers 10 weeks at $3,333/week.

This is all very confusing. Is your point that NYC is going to $175K?

I think what OP is saying is that the way firms describe their payment system is different than how it actually works.

Paying something twice a month is not equivalent to paying something every week since (except Feb) months are longer than 4 weeks.

Do you mind dispensing with the mathematical mumbo-jumbo? Just give it to us straight. Is firm paying $175K? $190K? Or is the point that the firm had adopted a 50-week calendar? So confused.

Since the firm pays first years $6,666.66 twice a month, it was easier for them to just pay summers for 2.5 months in the same payroll system. But they describe it as $3,333.33/week, which would equal more than what you'd actually get paid since calendars don't work that way.

[rpupkin]

Also, this has happened earlier in this thread (or maybe a related one), but it could be that the poster took the bi-monthly pay and multiplied it by 26 (for 52 weeks of pay) instead of 24 (12 months of pay).

For example, my firm said it paid $6,666.66 every two weeks (x 26 and that would be just under $175k). In reality, it paid $6,666.66 twice a month (which equals $160k). For simplicity, though, they just paid the summers 10 weeks at $3,333/week.

This is all very confusing. Is your point that NYC is going to $175K?

The point is that the person saying that a firm is giving its summers 180k prorated could have done the math wrong and multiplied the normal 6666.67 bimonthly pay by 26 two-week periods, rather than 24 half-month periods, which would yield ~175k, rather than the 160k that it actually is.

For anyone who wants to report on summer pay, 6666.67 per pay period is 160k. 7500 per pay period is 180k

[rpupkin]

Also, this has happened earlier in this thread (or maybe a related one), but it could be that the poster took the bi-monthly pay and multiplied it by 26 (for 52 weeks of pay) instead of 24 (12 months of pay).

For example, my firm said it paid $6,666.66 every two weeks (x 26 and that would be just under $175k). In reality, it paid $6,666.66 twice a month (which equals $160k). For simplicity, though, they just paid the summers 10 weeks at $3,333/week.

This is all very confusing. Is your point that NYC is going to $175K?

I think what OP is saying is that the way firms describe their payment system is different than how it actually works.

Paying something twice a month is not equivalent to paying something every week since (except Feb) months are longer than 4 weeks.

Do you mind dispensing with the mathematical mumbo-jumbo? Just give it to us straight. Is firm paying $175K? $190K? Or is the point that the firm had adopted a 50-week calendar? So confused.

Since the firm pays first years $6,666.66 twice a month, it was easier for them to just pay summers for 2.5 months in the same payroll system. But they describe it as $3,333.33/week, which would equal more than what you'd actually get paid since calendars don't work that way.

Ah, I think I get it. So the firm has given summer associates a 10% raise over what a first-year associate would be paid. Does you think this portends a corresponding increase--or perhaps an even greater increase--for first-year associates?