NYC to 200k Forum

[Hutz_and_Goodman]

“Yale/Columbia” lol

[Traynor Brah]

It's true toast. Kirkland's PPP is 4x a v50-100's because they get more profitable work. Part of the reason they get that is the partners, but another huge part is the associates. Why would Kirkland's partners make more than the v50-100's but not the associates? That would be like opening a michelin star restuarant and paying your junior cooks what a McDonalds EE makes. It's a complete ripoff.

This has been the sad truth of being a very good but not excellent/partnership-quality biglaw associate at a top firm from a top law school. You can go to a V5 rather than a V100, but what do you have to show for it at the end of the day other than "prestige." What about the thousands of extra hours of effort that you put in in high school/college (because, in all likelihood, you went to an Ivy), in law school (went to a T14), etc.? Exit ops, partnership prospects, etc. are not guaranteed and are highly dependent on being at the right place at the right time. At the end of the day, the Yale/Columbia Law top 20% associate at a V5 who does not make partner and goes in-house has, twelve years out of high school, not made a penny more than the Hofstra/GW top 40% lawyer who went to a V100 and does the same.

Let's keep out fingers crossed that this changes today.

You do have more job security, as your firm is usually less likely to run out of work and fire you, and if that happens, you can more easily lateral. Sometimes your cases are also marginally more interesting, since your billing rates are higher and so some of the more boring work doesn't justify using your firm.

But otherwise true.

The Yale/Columbia students at the top firms are far more likely to have the good exit options

So its an unserious hypothetical with broken cause/effect

And even if true why would you hope “this changes today”? Why not hope everyone gets raises?

Because anon poster appears to be very entitled and kind of an ass.

[Man from Nantucket]

“Yale/Columbia” lol

Yale/Columbia
Harvard/Stanford
Everything else

[Anonymous User]

It's true toast. Kirkland's PPP is 4x a v50-100's because they get more profitable work. Part of the reason they get that is the partners, but another huge part is the associates. Why would Kirkland's partners make more than the v50-100's but not the associates? That would be like opening a michelin star restuarant and paying your junior cooks what a McDonalds EE makes. It's a complete ripoff.

This has been the sad truth of being a very good but not excellent/partnership-quality biglaw associate at a top firm from a top law school. You can go to a V5 rather than a V100, but what do you have to show for it at the end of the day other than "prestige." What about the thousands of extra hours of effort that you put in in high school/college (because, in all likelihood, you went to an Ivy), in law school (went to a T14), etc.? Exit ops, partnership prospects, etc. are not guaranteed and are highly dependent on being at the right place at the right time. At the end of the day, the Yale/Columbia Law top 20% associate at a V5 who does not make partner and goes in-house has, twelve years out of high school, not made a penny more than the Hofstra/GW top 40% lawyer who went to a V100 and does the same.

Let's keep out fingers crossed that this changes today.

You do have more job security, as your firm is usually less likely to run out of work and fire you, and if that happens, you can more easily lateral. Sometimes your cases are also marginally more interesting, since your billing rates are higher and so some of the more boring work doesn't justify using your firm.

But otherwise true.

The Yale/Columbia students at the top firms are far more likely to have the good exit options

So its an unserious hypothetical with broken cause/effect

And even if true why would you hope “this changes today”? Why not hope everyone gets raises?

Because anon poster appears to be very entitled and kind of an ass.

+1

[Anonymous User]

Sorry everyone, disregard. Jumped the gun in posting when my asshole friend was trolling.

[Anonymous User]

^^ what firm?? Seems to be a lockstep firm

[Anonymous User]

“2009+”

I’m guessing Paul Weiss

[Anonymous User]

What possible reason is there tonight list firm, other than because this is a prank printed on the posters wordprocessor and printer?

[sparkytrainer]

?!?!??!?!?!???

100% troll. Brave anon

[Anonymous User]

Clarifying that that picture floated around my group chat earlier, but turned out to be a fake. Unfortunately.

[Anonymous User]

So, I work in Miami. We’re currently at 160 with a sprinkling of firms at 180. If those firms move to 190+, is it reasonable to think we will move too or is the market not big enough to handle the hike?

[Anonymous User]

Hard to say. The partners are driven by nothing but greed and so they're gonna give you as little as they can. Whether this pushes them to give you a little more I don't know. They're already behind so what's the need to catch up now?

[Anonymous User]

I think if the big FL firms don’t raise salary, it leaves the market wide open for Kirkland to come in and do what it does best, I think. Look what they did in Houston and Boston.

[jd20132013]

Ex big lawl now so no dog in fight , but I don’t get this move on the part of the firms. Isn’t the real thing you want to stave off mid levels leaving ? Why don’t firms just collide to never raise first year salaries and just raise mid level pay? Congrats to everyone getting a raise though

[KBJ2011]

Lmao Columbia students want to be included in the HYS circle sooo badly. It's hard to watch sometimes

[jd20132013]

Eh not the best example. Cooks make shit even at the best restaurants

Really? Then who gets the extra money they make by charging me $100 for a meal?

Also, have you heard about this thing called capitalism

[Anonymous User]

Today's the big day everyone!

[MillllerTime]

K&E Associate here, and just want to point out that we're doing it all wrong in this thread. K&E, Cravath et. al. currently pay BELOW MARKET, and should be shunned accordingly. If Cravath wants their scale back, they can pay for the privilege.

For now, MILBANK deserves all of the credit here and we should let all of the partners at our firms know that we're only working there because we didn't get an offer from MILBANK. Dress your kids up as SCOTT EDELMAN this year for Halloween. Tell your grandkids about the day MILBANK put an extra $17 per day in your pocket.

[mirroroferised7]

Today's the big day everyone!

I like you. You can stay. Seriously though, keep hearing about Cravath to 200. Does anyone have a shred of backing for this wonderful rumor?

[Anonymous User]

I don't think Cravath can afford to match, let alone beat, Milbank and am already preparing my lateral resume. Should I email Scott Edelman directly or is there a recruiting contact?

[gregfootball2001]

Today's the big day everyone!

I like you. You can stay. Seriously though, keep hearing about Cravath to 200. Does anyone have a shred of backing for this wonderful rumor?

I think the possibility of Cravath or another firm going to 200 is going to slow down everything. Firms will wait to make sure they won't be leapfrogged. It's a guess, but I don't think we see many firms matching before Cravath moves, and Cravath has weekly partner meetings, right? So may not hear much until next week.

Interesting timing marketing-wise, if Cravath does end up waiting - Milbank gets most of the press to itself for a little while.

[Traynor Brah]

Today's the big day everyone!

I like you. You can stay. Seriously though, keep hearing about Cravath to 200. Does anyone have a shred of backing for this wonderful rumor?

Negative.

[Anonymous User]

People keep talking about Cravath waiting and firms being afraid of being leapfrogged.

Wouldn’t this be great for associates? I don’t think milbank would like getting shown up by Cravath at 200, then will raise to 210. Etc., etc.

The fear of embarrassment may cause the market to go above 200!

[Clearly]

People keep talking about Cravath waiting and firms being afraid of being leapfrogged.

Wouldn’t this be great for associates? I don’t think milbank would like getting shown up by Cravath at 200, then will raise to 210. Etc., etc.

The fear of embarrassment may cause the market to go above 200!

0% chance of Millbank doing anything but matching if someone jumps above them to 200.

[Pulsar]

Just lol @ Cravath if they can't beat a 5.55% raise announced by glorious Milbank Tweed Hadley & McCoy LLP

$200k or old sterile has-been