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

[heythatslife]

Why are the other usual suspects so slow to match? I can only assume it's because partners are bickering over whether to one up at 190k or 200k.

[MKC]

[youtube]y2ak_oBeC-I[/youtube]

When I played the video it kind of looks like your tar is dancing.

Definitely an improvement from the fart huffing interpretation.

[Monochromatic Oeuvre]

But then again, it's all eventually driven by what clients find "prestigious." And if Fortune 500 companies think it's the height of awesome to be in the Lipstick Building, then they won't give a fuck that you Latham can't afford associates after its a 1BR after your loan rent payments.

Did that fatwa we put out on Bob Dell ever expire?

[androstan]

Who the fuck is El Politico.

wb androstan

Why did you leave

ty smaug I just needed a break, rf leaving was very traumatizing. But the timing was pretty perfect since the first two years of being a lit associate isn't a good time to dick around on tls if your plan/goal is to make it to midlevel and eventually senior associate.

Really looking forward to my firm matching in DC.

[John_Luther1989]

Why are the other usual suspects so slow to match? I can only assume it's because partners are bickering over whether to one up at 190k or 200k.

I'm willing to bet there was a firm out there who was waiting to announce $190k and is now having a cocaine party to celebrate saving some money.

[patentlitigatrix]

Who the fuck is El Politico.

my political gambling handle is el pollito politico tbf

Ha sorry dude.

[TripTrip]

Why are the other usual suspects so slow to match? I can only assume it's because partners are bickering over whether to one up at 190k or 200k.

I'm willing to bet there was a firm out there who was waiting to announce $190k and is now having a cocaine party to celebrate saving some money.

My bet's on Quinn.

[terpie]

Why are the other usual suspects so slow to match? I can only assume it's because partners are bickering over whether to one up at 190k or 200k.

I'm willing to bet there was a firm out there who was waiting to announce $190k and is now having a cocaine party to celebrate saving some money.

My bet's on Quinn.

Not a chance Quinn would be a first-mover. Their seamless budget is a hard $23 and I'm not kidding.

[TripTrip]

Why are the other usual suspects so slow to match? I can only assume it's because partners are bickering over whether to one up at 190k or 200k.

I'm willing to bet there was a firm out there who was waiting to announce $190k and is now having a cocaine party to celebrate saving some money.

My bet's on Quinn.

Not a chance Quinn would be a first-mover. Their seamless budget is a hard $23 and I'm not kidding.

Maybe I'm missing your joke but

“No doubt we will be raising as will other firms,” John Quinn, co-founder of litigation powerhouse Quinn Emanuel Urquhart & Sullivan LLP, said in an email. “This market is very efficient in that way.”

[Yardbird]

Why are the other usual suspects so slow to match? I can only assume it's because partners are bickering over whether to one up at 190k or 200k.

I'm willing to bet there was a firm out there who was waiting to announce $190k and is now having a cocaine party to celebrate saving some money.

My bet's on Quinn.

Not a chance Quinn would be a first-mover. Their seamless budget is a hard $23 and I'm not kidding.

Maybe I'm missing your joke but

“No doubt we will be raising as will other firms,” John Quinn, co-founder of litigation powerhouse Quinn Emanuel Urquhart & Sullivan LLP, said in an email. “This market is very efficient in that way.”

Seamless to $1.80!

[terpie]

Why are the other usual suspects so slow to match? I can only assume it's because partners are bickering over whether to one up at 190k or 200k.

I'm willing to bet there was a firm out there who was waiting to announce $190k and is now having a cocaine party to celebrate saving some money.

My bet's on Quinn.

Not a chance Quinn would be a first-mover. Their seamless budget is a hard $23 and I'm not kidding.

Maybe I'm missing your joke but

“No doubt we will be raising as will other firms,” John Quinn, co-founder of litigation powerhouse Quinn Emanuel Urquhart & Sullivan LLP, said in an email. “This market is very efficient in that way.”

You're quoting someone saying a firm was about to move to 190k before Cravath announced the 180k... implying they dodged a bullet by waiting long enough for Cravath to beat them to the punch.

Quinn would not have been that firm. They will pay to match when their hand is forced but otherwise are very cheap.

[blahblewblah]

Why are the other usual suspects so slow to match? I can only assume it's because partners are bickering over whether to one up at 190k or 200k.

I'm willing to bet there was a firm out there who was waiting to announce $190k and is now having a cocaine party to celebrate saving some money.

My bet's on Quinn.

Not a chance Quinn would be a first-mover. Their seamless budget is a hard $23 and I'm not kidding.

Maybe I'm missing your joke but

“No doubt we will be raising as will other firms,” John Quinn, co-founder of litigation powerhouse Quinn Emanuel Urquhart & Sullivan LLP, said in an email. “This market is very efficient in that way.”

You're quoting someone saying a firm was about to move to 190k before Cravath announced the 180k... implying they dodged a bullet by waiting long enough for Cravath to beat them to the punch.

Quinn would not have been that firm. They will pay to match when their hand is forced but otherwise are very cheap.

http://abovethelaw.com/2016/01/clerkshi ... -standard/

[jbagelboy]

Why are the other usual suspects so slow to match? I can only assume it's because partners are bickering over whether to one up at 190k or 200k.

I'm willing to bet there was a firm out there who was waiting to announce $190k and is now having a cocaine party to celebrate saving some money.

My bet's on Quinn.

Not a chance Quinn would be a first-mover. Their seamless budget is a hard $23 and I'm not kidding.

Maybe I'm missing your joke but

“No doubt we will be raising as will other firms,” John Quinn, co-founder of litigation powerhouse Quinn Emanuel Urquhart & Sullivan LLP, said in an email. “This market is very efficient in that way.”

You're quoting someone saying a firm was about to move to 190k before Cravath announced the 180k... implying they dodged a bullet by waiting long enough for Cravath to beat them to the punch.

Quinn would not have been that firm. They will pay to match when their hand is forced but otherwise are very cheap.

http://abovethelaw.com/2016/01/clerkshi ... -standard/

only because they eliminated their summer program. that's a cost-effective move for them, don't even fuck wit it

[terpie]

Why are the other usual suspects so slow to match? I can only assume it's because partners are bickering over whether to one up at 190k or 200k.

I'm willing to bet there was a firm out there who was waiting to announce $190k and is now having a cocaine party to celebrate saving some money.

My bet's on Quinn.

Not a chance Quinn would be a first-mover. Their seamless budget is a hard $23 and I'm not kidding.

Maybe I'm missing your joke but

“No doubt we will be raising as will other firms,” John Quinn, co-founder of litigation powerhouse Quinn Emanuel Urquhart & Sullivan LLP, said in an email. “This market is very efficient in that way.”

You're quoting someone saying a firm was about to move to 190k before Cravath announced the 180k... implying they dodged a bullet by waiting long enough for Cravath to beat them to the punch.

Quinn would not have been that firm. They will pay to match when their hand is forced but otherwise are very cheap.

http://abovethelaw.com/2016/01/clerkshi ... -standard/

I thought someone would post that. They did that after they axed their summer class to save money... They needed a way to build classes after that. They're still saving money. They also require billing 10 hrs to take a taxi home. Doesn't matter if you did pro bono from 8 til noon and then got slammed at 1 and worked non-stop until 10:30pm. You're SOL.

[terpie]

DP

[MCFC]

http://blogs.wsj.com/law/2016/06/07/mil ... es-raises/

Milbank chairman Scott Edelman put it simply: “We want them to be paid consistent with what the top firms pay.” Mr. Edelman said the firm’s 450 associates weren’t agitating for a pay raise. Pressed on whether Milbank had considered making its own pay bump before Cravath’s move, Mr. Edelman said, “At the end of the day, it always seems like some competitor is more eager to increase pay than us.”

[blahblewblah]

I thought someone would post that. They did that after they axed their summer class to save money... They needed a way to build classes after that. They're still saving money. They also require billing 10 hrs to take a taxi home. Doesn't matter if you did pro bono from 8 til noon and then got slammed at 1 and worked non-stop until 10:30pm. You're SOL.

Wouldn't axing their summer program--and the need to build classes--provide some motivation for them to beat Cravath? I'm not saying it will happen, but unless they are content to hire almost exclusively clerks, a slightly higher salary could be a way to build classes. Comparing forms of comp is more relevant than comparing seamless or taxis.

[jbagelboy]

http://blogs.wsj.com/law/2016/06/07/mil ... es-raises/

Milbank chairman Scott Edelman put it simply: “We want them to be paid consistent with what the top firms pay.” Mr. Edelman said the firm’s 450 associates weren’t agitating for a pay raise. Pressed on whether Milbank had considered making its own pay bump before Cravath’s move, Mr. Edelman said, “At the end of the day, it always seems like some competitor is more eager to increase pay than us.”

he doesn't seem super in touch with associate moral/sentiment.

[Tiago Splitter]

http://blogs.wsj.com/law/2016/06/07/mil ... es-raises/

Milbank chairman Scott Edelman put it simply: “We want them to be paid consistent with what the top firms pay.” Mr. Edelman said the firm’s 450 associates weren’t agitating for a pay raise. Pressed on whether Milbank had considered making its own pay bump before Cravath’s move, Mr. Edelman said, “At the end of the day, it always seems like some competitor is more eager to increase pay than us.”

Well yeah but only because his associates aren't really interested in pay raises.

[PvblivsScipio]

http://blogs.wsj.com/law/2016/06/07/mil ... es-raises/

Milbank chairman Scott Edelman put it simply: “We want them to be paid consistent with what the top firms pay.” Mr. Edelman said the firm’s 450 associates weren’t agitating for a pay raise. Pressed on whether Milbank had considered making its own pay bump before Cravath’s move, Mr. Edelman said, “At the end of the day, it always seems like some competitor is more eager to increase pay than us.”

Delete

[TheoO]

http://blogs.wsj.com/law/2016/06/07/mil ... es-raises/

Milbank chairman Scott Edelman put it simply: “We want them to be paid consistent with what the top firms pay.” Mr. Edelman said the firm’s 450 associates weren’t agitating for a pay raise. Pressed on whether Milbank had considered making its own pay bump before Cravath’s move, Mr. Edelman said, “At the end of the day, it always seems like some competitor is more eager to increase pay than us.”

Man, this sounds quite resentful

[El Pollito]

lol an associate dug up our salary policy and it says we match market

let's go west coast

[cookiejar1]

lol an associate dug up our salary policy and it says we match market

let's go west coast

lol what a legend

[Anonymous User]

lol an associate dug up our salary policy and it says we match market

let's go west coast

0.2 hrs, Professional Development

[Anonymous User]

I thought someone would post that. They did that after they axed their summer class to save money... They needed a way to build classes after that. They're still saving money. They also require billing 10 hrs to take a taxi home. Doesn't matter if you did pro bono from 8 til noon and then got slammed at 1 and worked non-stop until 10:30pm. You're SOL.

Wouldn't axing their summer program--and the need to build classes--provide some motivation for them to beat Cravath? I'm not saying it will happen, but unless they are content to hire almost exclusively clerks, a slightly higher salary could be a way to build classes. Comparing forms of comp is more relevant than comparing seamless or taxis.

Making sense of QE is a lost cause. Low seamless budget with draconian rules, a relatively high floor for bonuses, and so on all say "very cheap." That said they used to have above market comp (no longer), have always done the bizarre hike thing, and have strange perks like the "go work on a tropical island for a bit, it's like a vacation," a tech stipend, and other odds and ends that you don't see everywhere else.

In the end it seems like QE spends money on things that John Quinn likes and doesn't spend money on things he doesn't care about. This is good if you care about the same things as him and bad if you don't.

Agreed that it's doubtful that QE would be the first to move to increase salaries generally, but disagree that QE could never return to slightly above market comp. It'll depend on how the current summer associate experiment goes as much as anything else, I'd wager.