lol at the idea of Skadden being selective.Anonymous User wrote: ↑Tue Mar 22, 2022 2:24 pmYea, Skadden's def considered more in line with the typical white shoe firms than KE/Latham are. All great firms to be sure, but just saying. They're also a lot more grade/fit selective at my T-14 than KE/LathamSackboy wrote: ↑Tue Mar 22, 2022 2:07 pmKind of silly to say that Skadden pioneered the KE/Latham model when it only has equity partners that are promoted after 8-12 years and they have a very securities/pubco oriented practice. Skadden is much closer to the white shoe firms than it is to Latham/KE, imo.Anonymous User wrote: ↑Tue Mar 22, 2022 11:34 amSkadden isn't on the same "trajectory" as KE/Latham because it tried but failed to do what both those firms have done. To give Skadden its credit, it was KE/Latham before those firms were those firms, if that makes sense--meaning in many ways it pioneered the model that KE and Latham took and ran with to an extreme. But where Skadden petered out those firms took the torch and have run with it. I think one of the more telling statistics evincing this point is that Skadden's headcount has never returned to its 2008 peak, even 14 years after the fact. Nothing wrong with any of that--Skadden is still a great firm, highly profitable, and has billions in revenue; but I think it's fair to say it didn't achieve what it thought it would achieve if you talked to firm leadership circa 2005 and asked them to predict the next 15 years.
Milbank/Davis Polk/Cravath Scale: NYC to 215-415k Forum
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
Presumably you mean NYC, but you would need to clarify which region for this to be remotely helpful bc this is not the case at my t14 (and know it’s not true in the south and west)Anonymous User wrote: ↑Thu Mar 24, 2022 3:14 amlol at the idea of Skadden being selective.Anonymous User wrote: ↑Tue Mar 22, 2022 2:24 pmYea, Skadden's def considered more in line with the typical white shoe firms than KE/Latham are. All great firms to be sure, but just saying. They're also a lot more grade/fit selective at my T-14 than KE/LathamSackboy wrote: ↑Tue Mar 22, 2022 2:07 pmKind of silly to say that Skadden pioneered the KE/Latham model when it only has equity partners that are promoted after 8-12 years and they have a very securities/pubco oriented practice. Skadden is much closer to the white shoe firms than it is to Latham/KE, imo.Anonymous User wrote: ↑Tue Mar 22, 2022 11:34 amSkadden isn't on the same "trajectory" as KE/Latham because it tried but failed to do what both those firms have done. To give Skadden its credit, it was KE/Latham before those firms were those firms, if that makes sense--meaning in many ways it pioneered the model that KE and Latham took and ran with to an extreme. But where Skadden petered out those firms took the torch and have run with it. I think one of the more telling statistics evincing this point is that Skadden's headcount has never returned to its 2008 peak, even 14 years after the fact. Nothing wrong with any of that--Skadden is still a great firm, highly profitable, and has billions in revenue; but I think it's fair to say it didn't achieve what it thought it would achieve if you talked to firm leadership circa 2005 and asked them to predict the next 15 years.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
Everybody who posts a sweeping statement is referring to M&A practice in NYC and/or their experience at either Harvard or Columbia. The rest of the world does not exist to them.Anonymous User wrote: ↑Thu Mar 24, 2022 3:56 pmPresumably you mean NYC, but you would need to clarify which region for this to be remotely helpful bc this is not the case at my t14 (and know it’s not true in the south and west)Anonymous User wrote: ↑Thu Mar 24, 2022 3:14 amlol at the idea of Skadden being selective.Anonymous User wrote: ↑Tue Mar 22, 2022 2:24 pmYea, Skadden's def considered more in line with the typical white shoe firms than KE/Latham are. All great firms to be sure, but just saying. They're also a lot more grade/fit selective at my T-14 than KE/LathamSackboy wrote: ↑Tue Mar 22, 2022 2:07 pmKind of silly to say that Skadden pioneered the KE/Latham model when it only has equity partners that are promoted after 8-12 years and they have a very securities/pubco oriented practice. Skadden is much closer to the white shoe firms than it is to Latham/KE, imo.Anonymous User wrote: ↑Tue Mar 22, 2022 11:34 amSkadden isn't on the same "trajectory" as KE/Latham because it tried but failed to do what both those firms have done. To give Skadden its credit, it was KE/Latham before those firms were those firms, if that makes sense--meaning in many ways it pioneered the model that KE and Latham took and ran with to an extreme. But where Skadden petered out those firms took the torch and have run with it. I think one of the more telling statistics evincing this point is that Skadden's headcount has never returned to its 2008 peak, even 14 years after the fact. Nothing wrong with any of that--Skadden is still a great firm, highly profitable, and has billions in revenue; but I think it's fair to say it didn't achieve what it thought it would achieve if you talked to firm leadership circa 2005 and asked them to predict the next 15 years.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
HYS has been replaced with HCAnonymous User wrote: ↑Thu Mar 24, 2022 4:20 pmEverybody who posts a sweeping statement is referring to M&A practice in NYC and/or their experience at either Harvard or Columbia. The rest of the world does not exist to them.Anonymous User wrote: ↑Thu Mar 24, 2022 3:56 pmPresumably you mean NYC, but you would need to clarify which region for this to be remotely helpful bc this is not the case at my t14 (and know it’s not true in the south and west)Anonymous User wrote: ↑Thu Mar 24, 2022 3:14 amlol at the idea of Skadden being selective.Anonymous User wrote: ↑Tue Mar 22, 2022 2:24 pmYea, Skadden's def considered more in line with the typical white shoe firms than KE/Latham are. All great firms to be sure, but just saying. They're also a lot more grade/fit selective at my T-14 than KE/LathamSackboy wrote: ↑Tue Mar 22, 2022 2:07 pmKind of silly to say that Skadden pioneered the KE/Latham model when it only has equity partners that are promoted after 8-12 years and they have a very securities/pubco oriented practice. Skadden is much closer to the white shoe firms than it is to Latham/KE, imo.Anonymous User wrote: ↑Tue Mar 22, 2022 11:34 amSkadden isn't on the same "trajectory" as KE/Latham because it tried but failed to do what both those firms have done. To give Skadden its credit, it was KE/Latham before those firms were those firms, if that makes sense--meaning in many ways it pioneered the model that KE and Latham took and ran with to an extreme. But where Skadden petered out those firms took the torch and have run with it. I think one of the more telling statistics evincing this point is that Skadden's headcount has never returned to its 2008 peak, even 14 years after the fact. Nothing wrong with any of that--Skadden is still a great firm, highly profitable, and has billions in revenue; but I think it's fair to say it didn't achieve what it thought it would achieve if you talked to firm leadership circa 2005 and asked them to predict the next 15 years.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
People just say things huh
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
Hunton Andrews Kurth matched Cravath and added special bonuses
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
The Hunton Andrews Kurth match feels pretty significant for what might happen in smaller markets since they are based in Richmond, Virginia.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
HAK didn’t do anything. Those are bonuses that the rest of us got 4 months ago.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
What bonuses are you talking about? The bonuses they just announced are on top of the bonuses from last year (I think DPW started) that are getting paid out in April, as opposed to late 2021 for most firms.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
… our “special” year end bonuses from DPW on top of Cravath.Anonymous User wrote: ↑Thu Mar 24, 2022 6:52 pmWhat bonuses are you talking about? The bonuses they just announced are on top of the bonuses from last year (I think DPW started) that are getting paid out in April, as opposed to late 2021 for most firms.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
You're right. They're just behind because their FY starts April 1. My bad for listening to ATL's reporting.2013 wrote: ↑Thu Mar 24, 2022 6:54 pm… our “special” year end bonuses from DPW on top of Cravath.Anonymous User wrote: ↑Thu Mar 24, 2022 6:52 pmWhat bonuses are you talking about? The bonuses they just announced are on top of the bonuses from last year (I think DPW started) that are getting paid out in April, as opposed to late 2021 for most firms.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
Alston & Bird matched today for all US offices, retroactive to January 1.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
Baker Botts matched for US offices, but only retroactive to March 1.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
Fish & Richardson match
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
With K&S and A&B matching, what's going on with Eversheds in Atlanta?Anonymous User wrote: ↑Thu Mar 24, 2022 7:18 pmAlston & Bird matched today for all US offices, retroactive to January 1.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
Because these are the most common kind. More like CCN has been replaced by HCN. with YS are in a different tier. Harvard is far closer to Columbia in every aspect than Yale Stanford or even Chicago.2013 wrote: ↑Thu Mar 24, 2022 4:36 pmHYS has been replaced with HCAnonymous User wrote: ↑Thu Mar 24, 2022 4:20 pmEverybody who posts a sweeping statement is referring to M&A practice in NYC and/or their experience at either Harvard or Columbia. The rest of the world does not exist to them.Anonymous User wrote: ↑Thu Mar 24, 2022 3:56 pmPresumably you mean NYC, but you would need to clarify which region for this to be remotely helpful bc this is not the case at my t14 (and know it’s not true in the south and west)Anonymous User wrote: ↑Thu Mar 24, 2022 3:14 amlol at the idea of Skadden being selective.Anonymous User wrote: ↑Tue Mar 22, 2022 2:24 pmYea, Skadden's def considered more in line with the typical white shoe firms than KE/Latham are. All great firms to be sure, but just saying. They're also a lot more grade/fit selective at my T-14 than KE/LathamSackboy wrote: ↑Tue Mar 22, 2022 2:07 pmKind of silly to say that Skadden pioneered the KE/Latham model when it only has equity partners that are promoted after 8-12 years and they have a very securities/pubco oriented practice. Skadden is much closer to the white shoe firms than it is to Latham/KE, imo.Anonymous User wrote: ↑Tue Mar 22, 2022 11:34 amSkadden isn't on the same "trajectory" as KE/Latham because it tried but failed to do what both those firms have done. To give Skadden its credit, it was KE/Latham before those firms were those firms, if that makes sense--meaning in many ways it pioneered the model that KE and Latham took and ran with to an extreme. But where Skadden petered out those firms took the torch and have run with it. I think one of the more telling statistics evincing this point is that Skadden's headcount has never returned to its 2008 peak, even 14 years after the fact. Nothing wrong with any of that--Skadden is still a great firm, highly profitable, and has billions in revenue; but I think it's fair to say it didn't achieve what it thought it would achieve if you talked to firm leadership circa 2005 and asked them to predict the next 15 years.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
That took way too long. At a competitor that should hopefully raise soon..
Have to laugh at Fish raising the billable requirement too.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
I didn’t realize some firms have hours requirements for salary. I saw Holland & Knight’s announcement, and it looks like it has a 1900 hour requirement for the salary. What happens if you bill below that? Do you not move up in class?Anonymous User wrote: ↑Sat Mar 26, 2022 3:57 pmThat took way too long. At a competitor that should hopefully raise soon..
Have to laugh at Fish raising the billable requirement too.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
I took the announcement to mean that year 3+ associates wouldn’t get an increase to the new Cravath scale (i.e., they’d stay on the old DPW scale) if they didn’t hit 1900 hours. H&K is keeping several of its offices on the old DPW scale, so this makes sense.Anonymous User wrote: ↑Sat Mar 26, 2022 4:58 pmI didn’t realize some firms have hours requirements for salary. I saw Holland & Knight’s announcement, and it looks like it has a 1900 hour requirement for the salary. What happens if you bill below that? Do you not move up in class?Anonymous User wrote: ↑Sat Mar 26, 2022 3:57 pmThat took way too long. At a competitor that should hopefully raise soon..
Have to laugh at Fish raising the billable requirement too.
It comes off as very cheap for H&K to not match for all offices and to tie the match to hours. H&K isn’t even going to pay the new market scale in Tampa, where it’s HQ’d, and which had higher increases in rent in 2021 than any other US city. And this isn’t just their bonus structure that they’re tying to hours—they’re tying their base salary scale to hours now.
Link to the firm’s memo on ATL:
https://abovethelaw.com/2022/03/hk-raises-22/2/
ETA: when H&K matched the old DPW scale, it did so in all offices, so they’re breaking away from their previous moves.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
Anonymous User wrote: ↑Sat Mar 26, 2022 2:53 amBecause these are the most common (and the loudest) kind. More like CCN has been replaced by HCN. YS are in a different tier of their own. Harvard is far closer to Columbia and NYU in every aspect (selectivity, class size, outcome etc.) than Yale Stanford or even Chicago.2013 wrote: ↑Thu Mar 24, 2022 4:36 pmHYS has been replaced with HCAnonymous User wrote: ↑Thu Mar 24, 2022 4:20 pmEverybody who posts a sweeping statement is referring to M&A practice in NYC and/or their experience at either Harvard or Columbia. The rest of the world does not exist to them.Anonymous User wrote: ↑Thu Mar 24, 2022 3:56 pmPresumably you mean NYC, but you would need to clarify which region for this to be remotely helpful bc this is not the case at my t14 (and know it’s not true in the south and west)Anonymous User wrote: ↑Thu Mar 24, 2022 3:14 amlol at the idea of Skadden being selective.Anonymous User wrote: ↑Tue Mar 22, 2022 2:24 pmYea, Skadden's def considered more in line with the typical white shoe firms than KE/Latham are. All great firms to be sure, but just saying. They're also a lot more grade/fit selective at my T-14 than KE/LathamSackboy wrote: ↑Tue Mar 22, 2022 2:07 pm
Kind of silly to say that Skadden pioneered the KE/Latham model when it only has equity partners that are promoted after 8-12 years and they have a very securities/pubco oriented practice. Skadden is much closer to the white shoe firms than it is to Latham/KE, imo.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
Backed up by new US news rankings.Anonymous User wrote: ↑Sat Mar 26, 2022 2:53 amBecause these are the most common kind. More like CCN has been replaced by HCN. with YS are in a different tier. Harvard is far closer to Columbia in every aspect than Yale Stanford or even Chicago.2013 wrote: ↑Thu Mar 24, 2022 4:36 pmHYS has been replaced with HCAnonymous User wrote: ↑Thu Mar 24, 2022 4:20 pmEverybody who posts a sweeping statement is referring to M&A practice in NYC and/or their experience at either Harvard or Columbia. The rest of the world does not exist to them.Anonymous User wrote: ↑Thu Mar 24, 2022 3:56 pmPresumably you mean NYC, but you would need to clarify which region for this to be remotely helpful bc this is not the case at my t14 (and know it’s not true in the south and west)Anonymous User wrote: ↑Thu Mar 24, 2022 3:14 amlol at the idea of Skadden being selective.Anonymous User wrote: ↑Tue Mar 22, 2022 2:24 pmYea, Skadden's def considered more in line with the typical white shoe firms than KE/Latham are. All great firms to be sure, but just saying. They're also a lot more grade/fit selective at my T-14 than KE/LathamSackboy wrote: ↑Tue Mar 22, 2022 2:07 pm
Kind of silly to say that Skadden pioneered the KE/Latham model when it only has equity partners that are promoted after 8-12 years and they have a very securities/pubco oriented practice. Skadden is much closer to the white shoe firms than it is to Latham/KE, imo.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
In case anyone is interested, the summer associates at DPW are getting paid the 215k salary, so it appears that they maybe ditched the stub thing.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
That's flame, they are still below market. With the annual bonus, first years should get $235k all in comp.
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Re: Milbank/Davis Polk/Cravath Scale: NYC to 215-415k
Well Harvard is still more selective than Chicago and Columbia (and in terms of medians still beats Stanford), but who knows how long that will last.Anonymous User wrote: ↑Mon Mar 28, 2022 9:23 pmBacked up by new US news rankings.Anonymous User wrote: ↑Sat Mar 26, 2022 2:53 amBecause these are the most common kind. More like CCN has been replaced by HCN. with YS are in a different tier. Harvard is far closer to Columbia in every aspect than Yale Stanford or even Chicago.2013 wrote: ↑Thu Mar 24, 2022 4:36 pmHYS has been replaced with HCAnonymous User wrote: ↑Thu Mar 24, 2022 4:20 pmEverybody who posts a sweeping statement is referring to M&A practice in NYC and/or their experience at either Harvard or Columbia. The rest of the world does not exist to them.Anonymous User wrote: ↑Thu Mar 24, 2022 3:56 pmPresumably you mean NYC, but you would need to clarify which region for this to be remotely helpful bc this is not the case at my t14 (and know it’s not true in the south and west)Anonymous User wrote: ↑Thu Mar 24, 2022 3:14 amlol at the idea of Skadden being selective.Anonymous User wrote: ↑Tue Mar 22, 2022 2:24 pm
Yea, Skadden's def considered more in line with the typical white shoe firms than KE/Latham are. All great firms to be sure, but just saying. They're also a lot more grade/fit selective at my T-14 than KE/Latham
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