NYC to 200k Forum

[anonnymouse]

It really is sad to see the gradual degradation of TLS. It went from being a helpful resource and forum for intelligent discussion to a place where people are being called friendless virgins as an auto-insult.

TITCR

....in keeping with the devolution to lame xo schtick

[Anonymous User]

DPW memo is out. Full Cravath match.

[nealric]

It really is sad to see the gradual degradation of TLS. It went from being a helpful resource and forum for intelligent discussion to a place where people are being called friendless virgins as an auto-insult.

They don't even talk about law except in passing over there. At least there's still some on-topic discussion here.

[Anonymous User]

It really is sad to see the gradual degradation of TLS. It went from being a helpful resource and forum for intelligent discussion to a place where people are being called friendless virgins as an auto-insult.

/s?

[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

Anon here. It's Weil. Other summer heard similar stuff. One summer told me that partners already voted on this - it took the partners less than a min to deliberate and decided to match.

Internal memo should be out soon.

[Anonymous User]

DPW memo is out. Full Cravath match.

Pic or it didn't happen.

[Anonymous User]

Best city for quality of life is Seattle. No state income tax. Real estate prices are not too unreasonable, especially compared to NY. Fairly mild weather. Not a dusty-looking shithole like Texas.

Only problem is there aren't that many firms that pay market. But I bet that changes in the near future as more Californians realize how terrible their state is and move to the closest alternative.

[Anonymous User]

So I gather (and feel free to correct me if I am mistaken) that the prevailing thought is that most V50 firms will match the new Cravath scale (with or without a bonus), and that most have not yet done so because (i) they were waiting to see what Cravath would do, and (ii) even if they had discussed and decided to match Milbank's scale last week, since Cravath raised Milbank's scale for mid-levels, the partners would need meet again to approve the updated Cravath scale.

My question is: how long should that take? Should there be any concern that firms won't match if they haven't done so by the end of this week? Or by the end of next week? For most V50 firms, I would be surprised if they don't ultimately match the new Cravath scale (I don't expect that they want to go into OCI having not matched), but this also feels as though it is taking an unexpectedly long time. By what point, if a firm has not matched, do you start to believe that the firm is actually not going to match?

[Anonymous User]

Best city for quality of life is Seattle. No state income tax. Real estate prices are not too unreasonable, especially compared to NY. Fairly mild weather. Not a dusty-looking shithole like Texas.

Only problem is there aren't that many firms that pay market. But I bet that changes in the near future as more Californians realize how terrible their state is and move to the closest alternative.

just as many firms pay market in denver. weather is better. cheaper. not sure how seattle better.

[Anonymous User]

DPW memo is out. Full Cravath match.

Pic or it didn't happen.

[nealric]

So I gather (and feel free to correct me if I am mistaken) that the prevailing thought is that most V50 firms will match the new Cravath scale (with or without a bonus), and that most have not yet done so because (i) they were waiting to see what Cravath would do, and (ii) even if they had discussed and decided to match Milbank's scale last week, since Cravath raised Milbank's scale for mid-levels, the partners would need meet again to approve the updated Cravath scale.

My question is: how long should that take? Should there be any concern that firms won't match if they haven't done so by the end of this week? Or by the end of next week? For most V50 firms, I would be surprised if they don't ultimately match the new Cravath scale (I don't expect that they want to go into OCI having not matched), but this also feels as though it is taking an unexpectedly long time. By what point, if a firm has not matched, do you start to believe that the firm is actually not going to match?

The lower down the firm is in the scale the longer it tends to take. It's not totally uncommon for lower v100 firms to announce partial or full matches months after the first movers.

[Anonymous User]

Best city for quality of life is Seattle. No state income tax. Real estate prices are not too unreasonable, especially compared to NY. Fairly mild weather. Not a dusty-looking shithole like Texas.

Only problem is there aren't that many firms that pay market. But I bet that changes in the near future as more Californians realize how terrible their state is and move to the closest alternative.

Southern Californian here, can't put a price on sunshine

[Anonymous User]

So I gather (and feel free to correct me if I am mistaken) that the prevailing thought is that most V50 firms will match the new Cravath scale (with or without a bonus), and that most have not yet done so because (i) they were waiting to see what Cravath would do, and (ii) even if they had discussed and decided to match Milbank's scale last week, since Cravath raised Milbank's scale for mid-levels, the partners would need meet again to approve the updated Cravath scale.

My question is: how long should that take? Should there be any concern that firms won't match if they haven't done so by the end of this week? Or by the end of next week? For most V50 firms, I would be surprised if they don't ultimately match the new Cravath scale (I don't expect that they want to go into OCI having not matched), but this also feels as though it is taking an unexpectedly long time. By what point, if a firm has not matched, do you start to believe that the firm is actually not going to match?

I'm sure my V50 firm won't match until AT LEAST the end of next week, wouldn't be that shocked if they don't match, even though they love telling us that they are committed to compensating us at the "top of the market."

[Anonymous User]

DPW memo is out. Full Cravath match.

Confirmed.

[Anonymous User]

Best city for quality of life is Seattle. No state income tax. Real estate prices are not too unreasonable, especially compared to NY. Fairly mild weather. Not a dusty-looking shithole like Texas.

Only problem is there aren't that many firms that pay market. But I bet that changes in the near future as more Californians realize how terrible their state is and move to the closest alternative.

just as many firms pay market in denver. weather is better. cheaper. not sure how seattle better.

No state income tax. Winter weather is way better in Seattle.

[Anonymous User]

Worst city ever for quality of life is Seattle cause it's rainy and gross most of the year. Not a dusty-looking shithole like Texas, but not that many firms that pay market. But I bet that changes in the near future as more Californians realize how terrible their state is and move to the closest alternative.

Best city for quality of life is Orange County, CA. It's expensive, but that's the sunshine and nice weather tax. Some people eat dinner at home too, pretty much every night.

[Anonymous User]

.

[Anonymous User]

Worst city ever for quality of life is Seattle cause it's rainy and gross most of the year. Not a dusty-looking shithole like Texas, but not that many firms that pay market. But I bet that changes in the near future as more Californians realize how terrible their state is and move to the closest alternative.

Best city for quality of life is Orange County, CA. It's expensive, but that's the sunshine and nice weather tax. Some people eat dinner at home too, pretty much every night.

i feel like either LA or San Diego shit on OC, depending on what you like

[Anonymous User]

https://abovethelaw.com/2018/06/another ... d-to-beat/

[Anonymous User]

It really is sad to see the gradual degradation of TLS. It went from being a helpful resource and forum for intelligent discussion to a place where people are being called friendless virgins as an auto-insult.

They don't even talk about law except in passing over there. At least there's still some on-topic discussion here.

We want to!! Come over and help that discussion get off the ground!

[Anonymous User]

Worst city ever for quality of life is Seattle cause it's rainy and gross most of the year. Not a dusty-looking shithole like Texas, but not that many firms that pay market. But I bet that changes in the near future as more Californians realize how terrible their state is and move to the closest alternative.

Best city for quality of life is Orange County, CA. It's expensive, but that's the sunshine and nice weather tax. Some people eat dinner at home too, pretty much every night.

i feel like either LA or San Diego shit on OC, depending on what you like

True, certainly in some respects. I'm married, so don't really need nightlife or a dating scene, and really into cars, so seeing the plethora of supercars out and about every weekend is pretty fun.

The only reason I didn't want to be in LA was the traffic. I currently live pretty close to the beach and still only have a 15 minute drive to work.

[Anonymous User]

The effect from falling medians at T14 schools is really starting to show. This board is full of more dumbs than AutoAdmit now.

Couldn't agree more. When a bunch of rising 2Ls prepping for OCI start mouthing off about firms like Bartlit Beck/Susman/MTO not being selective, you know this message board has jumped the shark. Are there seriously no practicing biglawyers left on this board, just the pack of fresh-faced idiots sh@tting all over this thread??

+1. Saying Boies "not that selective" is a joke. You need a killer GPA and likely a solid clerkship. Same with Susman/MTO/Bartlit Beck. I understand that you rising pre-OCI 2Ls are interested in this thread, but don't talk about firms that you think are not "selective" until you've gone through the process and have been rejected by them.

This.

[Anonymous User]

So I gather (and feel free to correct me if I am mistaken) that the prevailing thought is that most V50 firms will match the new Cravath scale (with or without a bonus), and that most have not yet done so because (i) they were waiting to see what Cravath would do, and (ii) even if they had discussed and decided to match Milbank's scale last week, since Cravath raised Milbank's scale for mid-levels, the partners would need meet again to approve the updated Cravath scale.

My question is: how long should that take? Should there be any concern that firms won't match if they haven't done so by the end of this week? Or by the end of next week? For most V50 firms, I would be surprised if they don't ultimately match the new Cravath scale (I don't expect that they want to go into OCI having not matched), but this also feels as though it is taking an unexpectedly long time. By what point, if a firm has not matched, do you start to believe that the firm is actually not going to match?

The lower down the firm is in the scale the longer it tends to take. It's not totally uncommon for lower v100 firms to announce partial or full matches months after the first movers.

That makes sense. Would you be surprised if there are V20 firms that have not matched by the end of next week?

[Anonymous User]

Best city for quality of life is Seattle. No state income tax. Real estate prices are not too unreasonable, especially compared to NY. Fairly mild weather. Not a dusty-looking shithole like Texas.

Only problem is there aren't that many firms that pay market. But I bet that changes in the near future as more Californians realize how terrible their state is and move to the closest alternative.

just as many firms pay market in denver. weather is better. cheaper. not sure how seattle better.

No state income tax. Winter weather is way better in Seattle.

Just made this decision and am moving to Seattle this year to get out of NYC. Not sure that I agree that winter weather in Seattle is better than Denver, but Denver is pretty dry. There are good reasons for going to either, though.

[cdotson2]

The lower down the firm is in the scale the longer it tends to take. It's not totally uncommon for lower v100 firms to announce partial or full matches months after the first movers.

If you look at the above the law scorecard from 2016 only two firms in the top 100 didn’t match within the first two months. One of those matched in 2 months and two days. Only 8 firms total that went to 180 for 1st years matched later than two months from Cravath’s announcement. Above the law doesn’t have data from the 07 raises.