Delaware to $160k Forum

[Anonymous User]

I'm legit hitting Philly and DE hard as a 3L. I'd prefer to live in nyc but I've got loans to pay and both of those cities are cheap and more tax favourable.

Philly has a 4% wage tax, just FYI. Not really sure how that compares to NYC, but it sucks. Still, you can live like a king here for under $2k a month.

[Anonymous User]

how is it that ATL hasn't covered this yet?

[gchatbrah]

I'm legit hitting Philly and DE hard as a 3L. I'd prefer to live in nyc but I've got loans to pay and both of those cities are cheap and more tax favourable.

Philly has a 4% wage tax, just FYI. Not really sure how that compares to NYC, but it sucks. Still, you can live like a king here for under $2k a month.

6% tax on income if you live in one of the five boroughs of NYC; 4% is regardless of living location in Philly, right?

[ballouttacontrol]

I'm legit hitting Philly and DE hard as a 3L. I'd prefer to live in nyc but I've got loans to pay and both of those cities are cheap and more tax favourable.

Philly has a 4% wage tax, just FYI. Not really sure how that compares to NYC, but it sucks. Still, you can live like a king here for under $2k a month.

6% tax on income if you live in one of the five boroughs of NYC; 4% is regardless of living location in Philly, right?

Phila wage tax applies to anyone working in the city even if u live out on the mainline or in NJ

[Anonymous User]

I'm legit hitting Philly and DE hard as a 3L. I'd prefer to live in nyc but I've got loans to pay and both of those cities are cheap and more tax favourable.

Philly has a 4% wage tax, just FYI. Not really sure how that compares to NYC, but it sucks. Still, you can live like a king here for under $2k a month.

6% tax on income if you live in one of the five boroughs of NYC; 4% is regardless of living location in Philly, right?

Phila wage tax applies to anyone working in the city even if u live out on the mainline or in NJ

so if you live in philly but work elsewhere do you not pay it?

NVM: http://www.phila.gov/Revenue/businesses ... geTax.aspx

all residents gotta pay regardless of where they work

[Anonymous User]

I'm legit hitting Philly and DE hard as a 3L. I'd prefer to live in nyc but I've got loans to pay and both of those cities are cheap and more tax favourable.

Philly has a 4% wage tax, just FYI. Not really sure how that compares to NYC, but it sucks. Still, you can live like a king here for under $2k a month.

I know, I live here lol

[Anonymous User]

Skadden has been at 160k for a while, along with a couple IP boutiques in Wilmington.

Skadden Wilmington is also known as the worst Skadden office for hours in the country.

[Pulsar]

Kind of related, I've been hearing that NY biglaw gets the best deals in the country because that's where the major deals happen. This makes sense. But in a world where e-mail and the internet exist, is this still true? Is the "best" transactional work still being done in NY? With offices in Dallas, Houston, Chicago, and Philadelphia paying $160k, what's the real benefit of NY biglaw other than the "headline" cases?

You get to feel that sweet sweet Stockholm-Syndrome satisfaction as you wake up and a mouse squeaks in the corner of the 400 sq ft. $2500/mo studio with the creaky floors and lack of appliances that you managed to afford on your $90k after-tax-income and slept in for three hours after coming in late from working on a deal last night.

"Ah . . . at least I live in New York."

[Abbie Doobie]

Kind of related, I've been hearing that NY biglaw gets the best deals in the country because that's where the major deals happen. This makes sense. But in a world where e-mail and the internet exist, is this still true? Is the "best" transactional work still being done in NY? With offices in Dallas, Houston, Chicago, and Philadelphia paying $160k, what's the real benefit of NY biglaw other than the "headline" cases?

You get to feel that sweet sweet Stockholm-Syndrome satisfaction as you wake up and a mouse squeaks in the corner of the 400 sq ft. $2500/mo studio with the creaky floors and lack of appliances that you managed to afford on your $90k after-tax-income and slept in for three hours after coming in late from working on a deal last night.

"Ah . . . at least I live in New York."

30 first-year biglaw attorneys crammed inside a 250 sq ft starbucks at 10:15 in the morning: "YEAH BUT THE CULTURE HERE!"

[Anonymous User]

Above the Law article http://abovethelaw.com/2015/12/delaware ... s#comments

Really kinda condescending towards the firm lol. I get NYers are mad at the stagnant pay, but isn't this the place that worked the cases you read about in BA? I was under the impression its not your typical joe shmoe local council.

[los blancos]

Above the Law article http://abovethelaw.com/2015/12/delaware ... s#comments

Really kinda condescending towards the firm lol. I get NYers are mad at the stagnant pay, but isn't this the place that worked the cases you read about in BA? I was under the impression its not your typical joe shmoe local council.

Thanks for reminding me what a cesspool ATL is.

[EzraFitz]

Above the Law article http://abovethelaw.com/2015/12/delaware ... s#comments

Really kinda condescending towards the firm lol. I get NYers are mad at the stagnant pay, but isn't this the place that worked the cases you read about in BA? I was under the impression its not your typical joe shmoe local council.

Thanks for reminding me what a cesspool ATL is.

This exactly. I forgot that 100+ attorneys and one of the most prestigious corporate practices (yes, focused on Delaware law, but still) in the country was laughable.

[barkschool]

Sounds like if trump wrote an ATL article

[WestOfTheRest]

Above the Law article http://abovethelaw.com/2015/12/delaware ... s#comments

Really kinda condescending towards the firm lol. I get NYers are mad at the stagnant pay, but isn't this the place that worked the cases you read about in BA? I was under the impression its not your typical joe shmoe local council.

Thanks for reminding me what a cesspool ATL is.

As much as I can't stand ATL, the general direction of this article is great. We need more publicity like this.

[Desert Fox]

[Anonymous User]

What is MNATS PPP and RPL?

The DE firms (and MNAT in particular) keep those numbers confidential.

[ruski]

What is MNATS PPP and RPL?

The DE firms (and MNAT in particular) keep those numbers confidential.

I've found a lot of these types of midlaw firms actually rake in PPP comparable to larger places (anywhere from 600k to 2 mil based on a couple anecdotes I know). their fees are about 30% lower, but they also have way lower overhead. no fancy library, no crazy team of paralegals/support staff, no crazy summer budget, barebones IT/word processing/duplicating center

[mt2165]

Had an OCI interview with MNATS which I picked up as a post-bid freebie. I took the interview seriously because I was afraid I wouldn't get a job and Delaware didn't seem that bad. But people made jokes about Delaware firms. Guess the jokes on us.

[eastcoast_iub]

Had an OCI interview with MNATS which I picked up as a post-bid freebie. I took the interview seriously because I was afraid I wouldn't get a job and Delaware didn't seem that bad. But people made jokes about Delaware firms. Guess the jokes on us.

The work is narrow, technical mundane and often not transferable and Wilmington is a ghost-town, so not really.

[bearsfan23]

TLS is the only place in the world where people would prefer living in Wilmington fucking DE (or nearby) to NYC.

I'd consider DE if they started at $300k, maybe

[eastcoast_iub]

TLS is the only place in the world where people would prefer living in Wilmington fucking DE (or nearby) to NYC.

I'd consider DE if they started at $300k, maybe

NYC associates shouldn't get on their high horse considering that they are getting screwed right now.

[Desert Fox]

[Chrysogonus]

I turned down an offer this fall from MNAT for a V10. I'm legitimately regretting that now. This salary bump would have made a difference to me.

Also, I don't think anyone has mentioned this - but isn't this likely just a move to keep up w/ philly firms? Especially since they are so close geographically

[Anonymous User]

I turned down an offer this fall from MNAT for a V10. I'm legitimately regretting that now. This salary bump would have made a difference to me.

Also, I don't think anyone has mentioned this - but isn't this likely just a move to keep up w/ philly firms? Especially since they are so close geographically

This is correct. With more Philly firms following Dechert to 160k, DE was concerned they would lose talent. There is definitely a direct competition between the two cities, although the work is admittedly different.

[eastcoast_iub]

DE Big 4 already was losing talent. Everyone who could was going to Wilson Sonsini DE or bigger markets. The caliber of candidates was decreasing and laterals were increasing significantly as a result.