NYC to 200k Forum

[Anonymous User]

PPP isn't the relevant metric. Elite boutiques like W&C (because yes, it is elite) have lower PPP because they aren't heavily leveraged.

Example: Paul, Weiss might have a very high PPP but when leverage is like 6 associates to 1 partner, increasing every $10k increase is a $60k hit to a partner. At an elite boutique where there the ratio is 1:1, a $10k increase is only a $10k hit to the partner.

Also, Boies probably has more unprestigious resumes (UCLA, GW, arguably Berkeley) than prestigious ones (HYSCCN). This is not true with elite boutiques like Susman, KVN, MTO, which are truly selective.

I’m so not following the PPP bit. If Paul Weiss partners take a $60k hit for raising associates’ salaries by $10k wouldn’t their PPP be more greatly affected by raises than the elite boutiques?

Yes, that's the point the other poster is making. Even though W&C has a lower PPP, he is suggesting they will be less affected by a raise, so if PW can raise, W&C certainly can. (not my words, just explaining to you)

not sure "unprestigious" is the correct word choice there

[Anonymous User]

Screen shot or it didn't happen

I'm just the big bad troll.

FUCK YOU THIS IS A SERIOUS BUSINESS

[Anonymous User]

Screen shot or it didn't happen

I'm just the big bad troll.

FUCK YOU THIS IS A SERIOUS BUSINESS

The willkie match is FUCKING CONFIRMED...whoever wants the screenshot can wait for ATL, ya stupid cheese curl.

[Anonymous User]

Screen shot or it didn't happen

I'm just the big bad troll.

FUCK YOU THIS IS A SERIOUS BUSINESS

The willkie match is FUCKING CONFIRMED...whoever wants the screenshot can wait for ATL, ya stupid cheese curl.

https://abovethelaw.com/2018/06/todays- ... te-raises/

[Anonymous User]

What are the chances K&E was just waiting for the NY-elite to all match, then raise to $200k and make everyone else fall in line?

Follow-up: what are the chances the NY-elite shun any potential raise by K&E (whip the maverick into shape, old-school cartel-fashion)?

[Anonymous User]

I'll bet anyone $100 Weil announces later this afternoon.

[Anonymous User]

What are the chances K&E was just waiting for the NY-elite to all match, then raise to $200k and make everyone else fall in line?

Follow-up: what are the chances the NY-elite shun any potential raise by K&E (whip the maverick into shape, old-school cartel-fashion)?

KE would love it if nobody followed their raise. Then they could have a clear baseline (and not just nebulous bonus) comp advantage over competitors.

[MillllerTime]

What are the chances K&E was just waiting for the NY-elite to all match, then raise to $200k and make everyone else fall in line?

Follow-up: what are the chances the NY-elite shun any potential raise by K&E (whip the maverick into shape, old-school cartel-fashion)?

1) Very low. As discussed earlier in this thread, not K&E’s M.O.

2) Even lower. And I Don’t think that would be a “jokes on K&E” situation - pretty sure many big firms would just to 210k if they were guaranteed to get no followers. Would do wonders for the lateral game.

[Anonymous User]

I'll bet anyone $100 Weil announces later this afternoon.

Lololol that was quick moving, can confirm Weil will announce today

[Anonymous User]

What are the chances K&E was just waiting for the NY-elite to all match, then raise to $200k and make everyone else fall in line?

Follow-up: what are the chances the NY-elite shun any potential raise by K&E (whip the maverick into shape, old-school cartel-fashion)?

Not good.

[youtube]nFTRwD85AQ4[/youtube]

[Anonymous User]

"The Management Committee is pleased to announce that we are increasing US Associate base salaries and paying a special bonus as noted in the chart below.

Class Year 2018 Base Salary Special Bonus
2017 $190,000 $5,000
2016 $200,000 $7,500
2015 $220,000 $10,000
2014 $255,000 $15,000
2013 $280,000 $20,000
2012 $305,000 $25,000
2011 $325,000 $25,000
2010 $340,000 $25,000
2009+ Case by Case Case by Case

Salary increases are effective July 1st and will be reflected in July 13th paychecks. Summer associate salaries will also be increased, effective July 1st, to match the new first year associate salary.

Bonuses will be paid on July 13th. Per Firm policy, associates must be employed on the pay date and in good standing in order to be bonus eligible. Additionally, all bonuses will be subject to customary prorations.

On behalf of all Weil Partners, thank you for your continued hard work and dedication."

[Anonymous User]

PPP isn't the relevant metric. Elite boutiques like W&C (because yes, it is elite) have lower PPP because they aren't heavily leveraged.

Example: Paul, Weiss might have a very high PPP but when leverage is like 6 associates to 1 partner, increasing every $10k increase is a $60k hit to a partner. At an elite boutique where there the ratio is 1:1, a $10k increase is only a $10k hit to the partner.

Also, Boies probably has more unprestigious resumes (UCLA, GW, arguably Berkeley) than prestigious ones (HYSCCN). This is not true with elite boutiques like Susman, KVN, MTO, which are truly selective.

I’m so not following the PPP bit. If Paul Weiss partners take a $60k hit for raising associates’ salaries by $10k wouldn’t their PPP be more greatly affected by raises than the elite boutiques?

Yes, that's the point the other poster is making. Even though W&C has a lower PPP, he is suggesting they will be less affected by a raise, so if PW can raise, W&C certainly can. (not my words, just explaining to you)

not sure "unprestigious" is the correct word choice there

What is obviously missing here is what city we're discussing. In NYC, for example, W&C, KVN, MTO, and Bartlitt Beck don't have NY offices. Susman does, and has to be the toughest boutique offer with only 14 associates, all with unreal feeder (or SCOTUS clerk) resumes. Boies NY has to be second. There are only 30 NY associates, most with HYSCCN CoA/D.C. clerkship resumes. Boies has some weird office locations though (Ft. Lauderdale, Vegas, & Hollywood, FL), which might by why above poster says Boies gathers some middling UCLA/GW ppl.

[Anonymous User]

While we have this amazing meeting of the minds, how many firms have hours requirements for end of year bonus? It is a TTT thing or fairly common nowdays?

[minnbills]

NY to 200k is dead.

[Anonymous User]

NY to 200k is dead.

[Anonymous User]

Have recent grads that are starting at firms this Fall been getting the emails about the raise? I imagine not?

[Anonymous User]

14 associate "firms" don't deserve to be talked about unless they pay more than Wachtell

[Anonymous User]

Have recent grads that are starting at firms this Fall been getting the emails about the raise? I imagine not?

negative

[Anonymous User]

Have recent grads that are starting at firms this Fall been getting the emails about the raise? I imagine not?

No. If you haven't started, you don't have a firm email address. Go back to studying for the bar, we'll let you know in October how things shake out.

[Anonymous User]

T25 pleb working at a V70 wants his god damn money.

[Anonymous User]

NY to 200k is dead.

This is BS. For 4th-year+ associates, the Cravath scale is basically a 200K scale...only 1st-3rd years don't see the $.

[Anonymous User]

T25 pleb working at a V70 wants his god damn money.

According to Richard Rosenbaum, some associates just don’t have what it takes to justify a raise. Sorry little bro.

[Anonymous User]

Cleary matched

[Anonymous User]

T25 pleb working at a V70 wants his god damn money.

According to Richard Rosenbaum, some associates just don’t have what it takes to justify a raise. Sorry little bro.

Dude workin at V26 wants his fuckin money too

[Anonymous User]

Cleary matched

YESSSSS! The spread to DC has officially begun.