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

[Desert Fox]

[First Offense]

Holy shit, heard head of our lit department saying that "This is going to blow our budget wide open, we'll have to redo the whole thing."

DC to 190k confirmed.

[MCFC]

Holy shit, heard head of our lit department saying that "This is going to blow our budget wide open, we'll have to redo the whole thing."

You sure they weren't talking about your chaise lounge?

[abitaman6363]

The 2007 ST-inspired pay raise was from $145k to $160k. Does anyone know the year and amount of the last pre-2007 NYC pay increase?

Also, even though law firms do not necessarily adjust salary to reflect inflation, cumulative inflation since 2007 is ~15%. I believe that means for biglaw salary to match inflation, $160k starting salaries would have to increase by at least ~$24k.

Just trying to have a broad lay of the land in this conversation and (i) what impetuses firms have to increase salaries and (ii) what the increase (if any) will look like.

[Tiago Splitter]

The 2007 ST-inspired pay raise was from $145k to $160k. Does anyone know the year and amount of the last pre-2007 NYC pay increase?

S&C pushed it from 125 to 145 in 2005.

[abitaman6363]

The 2007 ST-inspired pay raise was from $145k to $160k. Does anyone know the year and amount of the last pre-2007 NYC pay increase?

S&C pushed it from 125 to 145 in 2005.

Thanks for the info!

So essentially from 2004 to 2007 there was a $35,000 increase in base salary for first-year attorneys. That certainly gives more credence to the thought that we are due for a major (read: $30,000) pay increase.

[Tiago Splitter]

The 2007 ST-inspired pay raise was from $145k to $160k. Does anyone know the year and amount of the last pre-2007 NYC pay increase?

S&C pushed it from 125 to 145 in 2005.

Thanks for the info!

So essentially from 2004 to 2007 there was a $35,000 increase in base salary for first-year attorneys. That certainly gives more credence to the thought that we are due for a major (read: $30,000) pay increase.

I think it lends credence to the idea that after the raise to 190 we'll get another one shortly thereafter. The aftershock following the big quake, if you will.

[jbagelboy]

The 2007 ST-inspired pay raise was from $145k to $160k. Does anyone know the year and amount of the last pre-2007 NYC pay increase?

S&C pushed it from 125 to 145 in 2005.

Thanks for the info!

So essentially from 2004 to 2007 there was a $35,000 increase in base salary for first-year attorneys. That certainly gives more credence to the thought that we are due for a major (read: $30,000) pay increase.

I think it lends credence to the idea that after the raise to 190 we'll get another one shortly thereafter. The aftershock following the big quake, if you will.

NY to $205K.

[03152016]

the only question now is what kind of increase to the bonus scale we can expect when ny goes to 190

[Grond]

The 2007 ST-inspired pay raise was from $145k to $160k. Does anyone know the year and amount of the last pre-2007 NYC pay increase?

S&C pushed it from 125 to 145 in 2005.

First year comp in 1995 was what, 54K?

[Tiago Splitter]

The 2007 ST-inspired pay raise was from $145k to $160k. Does anyone know the year and amount of the last pre-2007 NYC pay increase?

S&C pushed it from 125 to 145 in 2005.

First year comp in 1995 was what, 54K?

Looks like it was in the low-80k range back then. Meaning it doubled in ten years. Now it's been almost ten years and we've got nothing. Let's just put a crestor lock! on NYC to 320k before 2017 is out.

[Desert Fox]

[El Pollito]

TLS can't be this good at group flame.

[Desert Fox]

[UnicornHunter]

TLS can't be this good at group flame.

75% of people in this thread are NOT flame.

3 out of 4 TLSers can't be wrong, NY TO 190!!!!

[rpupkin]

How about a compromise: NY to 175?

Gtfo

Indeed. 175 would be insulting. If NYC firms aren't going to 190, I'd prefer they just stay at 160. No half measures.

[Anonymous User]

Do people think Skadden will follow to 190k in NY? I know they keep their compensation the same throughout their offices, would be pretty sweet if they raised to 190k in less expensive COL cities

[UnicornHunter]

Do people think Skadden will follow to 190k in NY? I know they keep their compensation the same throughout their offices, would be pretty sweet if they raised to 190k in less expensive COL cities

CHICAGO TO $190K CONFIRMED!!!

[Johann]

Skadden and Kirkland are the only sure almost instant movers in Chicago my opinion. Sidley is kinda cheap which is worrisome but they prolly move too.

[anyriotgirl]

people going on second looks next week

YOU KNOW WHAT YOU HAVE TO DO

[smaug]

people going on second looks next week

YOU KNOW WHAT YOU HAVE TO DO

[bearsfan23]

people going on second looks next week

YOU KNOW WHAT YOU HAVE TO DO

Bonus points for people who bring it up in screeners/callbacks when they ask "why X firm"

[Anonymous User]

Did a second look at pw. A midlevel strongly insinuated inside knowledge of another firm moving up ("we might not be the first to move to 190, but we'll match it").

Confirmed.

[First Offense]

Did a second look at pw last week. A midlevel strongly insinuated inside knowledge of another firm moving up ("we might not be the first to move to 190, but we'll match it").

Confirmed.

YES!

[MCFC]

Ted Wells hasn't been billing the NFL for nothing, has he? Has he?