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

[BigZuck]

They're only that small because they paid just 160 and no one had heard of them so they chose more familiar options for the same pay. But now? 190k --> DROVES --> NYC to 190k

Indeed. Graduates will be coming in DROVES to DOVE.

Call me crazy, but I can even see the firm DOUBLING its associate headcount—from two to four.

It is refreshing to see HYS coifers getting the long end of the stick for once though, you know?

[Johann]

AmLaw 100 numbers look awful. Haven't looked this bad since the major recession. And those numbers still include Jan-Aug2014, which was the good part of the last 2 years in biglaw.

Mods, please lock the thread. The dream is over.

[mvp99]

AmLaw 100 numbers look awful. Haven't looked this bad since the major recession. And those numbers still include Jan-Aug2014, which was the good part of the last 2 years in biglaw.

Mods, please lock the thread. The dream is over.

the US economy grew .5% Q1 this year. Get ready!

[Anonymous User]

Not flame and hopefully can be corroborated by a CSM associate:

Heard from a friend that Cravath had their yearly state of the union presentation yesterday and their managing partner openly asked about whether compensation was too low and specifically acknowledged rents and student loans as costs that have ballooned since salaries were evaluated. Said if anything happens it would be post summer though.

[lurklaw]

Not flame and hopefully can be corroborated by a CSM associate:

Heard from a friend that Cravath had their yearly state of the union presentation yesterday and their managing partner openly asked about whether compensation was too low and specifically acknowledged rents and student loans as costs that have ballooned since salaries were evaluated. Said if anything happens it would be post summer though.

IT'S HAPPENING!

WE DID IT!

CONGRATS EVERYONE!

[BigZuck]

Any chance we could get the title of the thread changed to (definitely led by Cravath)? I don't want this Paul Weiss dude getting credit that he doesn't deserve.

Also drop the ?? and add !! because we finally did it!

[Slytherpuff]

Don't want to get my hopes up, but this would be amazing!!!

[kcdc1]

Operation Vault Chaos:

(1) Tank Cravath to V50
(2) Boost firm that raised pay to 160k in secondary market into V5
(3) ?????
(4) Profit

What is our consensus firm for step (2)?

Sounds like people in high places might have caught wind....GOOD WORK BROTHERS! Don't relent!

[MCFC]

Not flame and hopefully can be corroborated by a CSM associate:

Heard from a friend that Cravath had their yearly state of the union presentation yesterday and their managing partner openly asked about whether compensation was too low and specifically acknowledged rents and student loans as costs that have ballooned since salaries were evaluated. Said if anything happens it would be post summer though.

Please describe the cheese plate situation at this presentation.

[Anonymous User]

CSM associate here. I was at that meeting and what actually happened is the managing partner said he thought he anticipated a pay DECREASE at the end of the summer because, and I quote, "a nutless monkey could do your job." Apparently, there is some leaked footage of the meeting already on Youtube: https://www.youtube.com/watch?v=dWpeOjJTDWQ

Sorry to burst the bubble but it looks like its NY to 145k

[Monochromatic Oeuvre]

CSM associate here. I was at that meeting and what actually happened is the managing partner said he thought he anticipated a pay DECREASE at the end of the summer because, and I quote, "a nutless monkey could do your job." Apparently, there is some leaked footage of the meeting already on Youtube: https://www.youtube.com/watch?v=dWpeOjJTDWQ

Sorry to burst the bubble but it looks like its NY to 145k

Okay, but $250k in non-dischargeable debt comes and goes. Cravath PrestigePoints™ are forever.

[Johann]

CSM associate here. I was at that meeting and what actually happened is the managing partner said he thought he anticipated a pay DECREASE at the end of the summer because, and I quote, "a nutless monkey could do your job." Apparently, there is some leaked footage of the meeting already on Youtube: https://www.youtube.com/watch?v=dWpeOjJTDWQ

Sorry to burst the bubble but it looks like its NY to 145k

Okay, but $250k in non-dischargeable debt comes and goes. Cravath PrestigePoints™ are forever.

its about to be more of the going when the next vault rankings come out

[Anonymous User]

nvm

[Yea All Right]

nvm

That de-escalated quickly

[LazyLASA]

At least Above the Law is on our side. http://abovethelaw.com/2016/05/ny-to-19 ... -pay-hike/

[Tiago Splitter]

At least Above the Law is on our side. http://abovethelaw.com/2016/05/ny-to-19 ... -pay-hike/

Wow this is exciting:

In light of the building buzz, we’re launching a new series called “NY to 190”...we don’t rule out the possibility of a...larger move — e.g...NY to 200.

We might need to start a separate thread to address the NY to 200 rumors that are now clearly circulating.

[BigZuck]

Wow this is exciting:

In light of the building buzz, we’re launching a new series called “NY to 190”...we don’t rule out the possibility of a...larger move — e.g...NY to 200.

ICWUDT

You're doing good work here Tiago

[Anonymous User]

Adding irrational fuel to the fire: I'm starting at a V5 in the fall, and I needed a proof of future employment/income letter from them recently. They told me they could only put that I would receive "a second-year salary" and a "clerkship bonus" in the letter, but wouldn't otherwise provide any specific figures. Rational explanation: firms formally announce salary scales every year even though they never change and everyone knows what they're going to be, and this is just a reflection of that. Better explanation: they are actively debating salary increases and don't want to commit to anything.

[BigZuck]

I love how they link to the "Trouble Ahead?" article about the Am Law 100 from like a week ago in this new NYC to 190 "piece."

Also telling the partners "No, no, we don't think you're greedy" is a nice touch.

[BigZuck]

Adding irrational fuel to the fire: I'm starting at a V5 in the fall, and I needed a proof of future employment/income letter from them recently. They told me they could only put that I would receive "a second-year salary" and a "clerkship bonus" in the letter, but wouldn't otherwise provide any specific figures. Rational explanation: firms formally announce salary scales every year even though they never change and everyone knows what they're going to be, and this is just a reflection of that. Better explanation: they are actively debating salary increases and don't want to commit to anything.

This thread is an 82 page conflagration brother

Good work though, this is a valuable contribution and further cements what we already know is destiny

[Anonymous User]

Not flame and hopefully can be corroborated by a CSM associate:

Heard from a friend that Cravath had their yearly state of the union presentation yesterday and their managing partner openly asked about whether compensation was too low and specifically acknowledged rents and student loans as costs that have ballooned since salaries were evaluated. Said if anything happens it would be post summer though.

Can confirm that this is not a flame and actually happened.

[runthetrap1990]

[Voxius]

This is awful news. I'm going to be a 2L SA this summer and am very concerned that this will cut into my PPP when I hit partner.

[acijku2]

Not flame and hopefully can be corroborated by a CSM associate:

Heard from a friend that Cravath had their yearly state of the union presentation yesterday and their managing partner openly asked about whether compensation was too low and specifically acknowledged rents and student loans as costs that have ballooned since salaries were evaluated. Said if anything happens it would be post summer though.

Can confirm that this is not a flame and actually happened.

Did they mention if the increase will be retroactive to summer associate pay? I don't want to miss out on the extra $846 a week that next year's summers will be making.

[postard]

Not flame and hopefully can be corroborated by a CSM associate:

Heard from a friend that Cravath had their yearly state of the union presentation yesterday and their managing partner openly asked about whether compensation was too low and specifically acknowledged rents and student loans as costs that have ballooned since salaries were evaluated. Said if anything happens it would be post summer though.

Can confirm that this is not a flame and actually happened.

Did they mention if the increase will be retroactive to summer associate pay? I don't want to miss out on the extra $846 a week that next year's summers will be making.

That seems like a weird thing to tell people who aren't 2016 summers (they dgaf).