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

[DELG]

Covington is planning to match for NY only

Nooooo

[Anonymous User]

NY to 190 is not that ridiculous really. According to the BLS, $160k in 2006 = $189,889.68 today. So, really we're just trying to keep up with inflation. Sucks for those people who put in their 5 biglaw years during 2010 - 2015 though (probably for multiple reasons).

[mvp99]

STB to 190k

[smaug]

STB to 190k

We came here with a dream.

Take us there, STB.

we are trying to beg a covert tiny partner sneak in to confirm

[Actus Reus]

CLEARY match

[BizBro]

I saw on ATL that PW is increasing pay for its summers too to 3500 a week. Think it's the only firm to do so.

[wwwcol]

CLEARY match

All offices?

[imalreadyamember?]

STB to 190k

I don't beleaf

[lymenheimer]

I saw on ATL that PW is increasing pay for its summers too to 3500 a week. Think it's the only firm to do so.

PW cares about SAs

[Anonymous User]

Covington is planning to match for NY only

Thoughts on how this will affect national firms with DC offices (GDC, Latham, Kirkland, Sidley, etc.)? I can't imagine that Covington wouldn't match if those firms did.

It is just inconceivable to me that Covington wouldn't match if these firms did...

[Actus Reus]

CLEARY match

All offices?

DC and NY and international lawyers in those offices.*

*according to the friend who was reading me the memo over the phone

[mushybrain]

I was offended by Cleary until I remembered there are no CA offices. If CA doesn't match I'm going to be so sad.

[WinSome]

CLEARY match

All offices?

DC and NY and international lawyers in those offices.*

*according to the friend who was reading me the memo over the phone

It looks like those are their only American offices. So it is essentially all offices.

[BizBro]

I saw on ATL that PW is increasing pay for its summers too to 3500 a week. Think it's the only firm to do so.

PW cares about SAs

So jealous

[arklaw13]

But is Cleary a big enough player in DC that everyone else will feel compelled to match?

[Br3v]

Why is ATL acting like it's not a sure thing class of 2016 would be on the new pay scale?

At the time of its announcement, Paul Weiss was the only firm to explicitly state that incoming associates in Class of 2016 would see their base salaries raised to $180,000. . .

After we noted that Paul Weiss specifically mentioned salaries for incoming associates, we received a flood of emails from members of the Class of 2016. Prior to the Paul Weiss announcement, it had been largely assumed that other firms, including Cravath, would reward their incoming associates with the $180,000 salary scale, especially given the July 1, 2016, effective date of the pay raise. Nevertheless, people began to worry that their firms would not increase their pay, perhaps forcing them to remain on the $160,000 salary scale since they’d already signed their employment contracts . . .

What is your firm doing for summer associates and incoming associates in the Class of 2016? Do you want your firm to be known as a market leader or a market loser?

The ATL argument ends on a cliff. It would be crazy for class of 2016 (incoming associates) to not be on the new scale right?

http://abovethelaw.com/2016/06/ny-to-18 ... ssociates/

[NakedPowerOrgan]

Why is ATL acting like it's not a sure thing class of 2016 would be on the new pay scale?

At the time of its announcement, Paul Weiss was the only firm to explicitly state that incoming associates in Class of 2016 would see their base salaries raised to $180,000. . .

After we noted that Paul Weiss specifically mentioned salaries for incoming associates, we received a flood of emails from members of the Class of 2016. Prior to the Paul Weiss announcement, it had been largely assumed that other firms, including Cravath, would reward their incoming associates with the $180,000 salary scale, especially given the July 1, 2016, effective date of the pay raise. Nevertheless, people began to worry that their firms would not increase their pay, perhaps forcing them to remain on the $160,000 salary scale since they’d already signed their employment contracts . . .

What is your firm doing for summer associates and incoming associates in the Class of 2016? Do you want your firm to be known as a market leader or a market loser?

The ATL argument ends on a cliff. It would be crazy for class of 2016 (incoming associates) to not be on the new scale right?

http://abovethelaw.com/2016/06/ny-to-18 ... ssociates/

Sounds like they're running out of things to speculate on.

[Anonymous User]

Covington is planning to match for NY only

Wtf...

[KidStuddi]

Covington is planning to match for NY only

Thoughts on how this will affect national firms with DC offices (GDC, Latham, Kirkland, Sidley, etc.)? I can't imagine that Covington wouldn't match if those firms did.

Weil, PW, and Cleary already did it in D.C., basically ensuring that S&C, STB, and DPW will follow suit. Skadden and Latham are in that same realm, so they probably follow too, though their insane headcounts makes them not the slam-dunk-sure-thing that the others are. Kirkland loves to poach from those firms and so they're basically locked in to following suit or they're going to have a lot of pissed off defectors in their ranks that started off at the 180 nationwide firms.

I also think Gibson has to join the Fray. They've been so super profitable over the last 5-6 years they've gotta share the wealth, and their D.C. office is arguably their strongest.

Long story short, with all of those D.C. offices paying 180, Covington is going to be at a serious disadvantage recruiting in its hometown if they don't follow. Maybe they draw the line and just accept that they'll now be recruiting on a tier below, even in D.C., but I doubt it. With Covington comes A&P, Wilmer, and Hogan. The timing does suck for the Cov and A&P partnerships though, having to dig deep for across the board salary bumps right after both firms just splashed out some serious cash on fancy new offices.

[John_Luther1989]

Sounds like they're running out of things to speculate on.

Unless someone jumps higher than $180k, they have nothing to drive page views anymore. Everyone not being purposefully obtuse knows this means c/o 2016 gets $180k.

[Actus Reus]

Why is ATL acting like it's not a sure thing class of 2016 would be on the new pay scale?

At the time of its announcement, Paul Weiss was the only firm to explicitly state that incoming associates in Class of 2016 would see their base salaries raised to $180,000. . .

After we noted that Paul Weiss specifically mentioned salaries for incoming associates, we received a flood of emails from members of the Class of 2016. Prior to the Paul Weiss announcement, it had been largely assumed that other firms, including Cravath, would reward their incoming associates with the $180,000 salary scale, especially given the July 1, 2016, effective date of the pay raise. Nevertheless, people began to worry that their firms would not increase their pay, perhaps forcing them to remain on the $160,000 salary scale since they’d already signed their employment contracts . . .

What is your firm doing for summer associates and incoming associates in the Class of 2016? Do you want your firm to be known as a market leader or a market loser?

The ATL argument ends on a cliff. It would be crazy for class of 2016 (incoming associates) to not be on the new scale right?

http://abovethelaw.com/2016/06/ny-to-18 ... ssociates/

Don't question Paul Comma Weiss

[Anonymous User]

Why is ATL acting like it's not a sure thing class of 2016 would be on the new pay scale?

At the time of its announcement, Paul Weiss was the only firm to explicitly state that incoming associates in Class of 2016 would see their base salaries raised to $180,000. . .

After we noted that Paul Weiss specifically mentioned salaries for incoming associates, we received a flood of emails from members of the Class of 2016. Prior to the Paul Weiss announcement, it had been largely assumed that other firms, including Cravath, would reward their incoming associates with the $180,000 salary scale, especially given the July 1, 2016, effective date of the pay raise. Nevertheless, people began to worry that their firms would not increase their pay, perhaps forcing them to remain on the $160,000 salary scale since they’d already signed their employment contracts . . .

What is your firm doing for summer associates and incoming associates in the Class of 2016? Do you want your firm to be known as a market leader or a market loser?

The ATL argument ends on a cliff. It would be crazy for class of 2016 (incoming associates) to not be on the new scale right?

http://abovethelaw.com/2016/06/ny-to-18 ... ssociates/

It's because that Staci chick is incredibly retarded.

[Anonymous User]

Sounds like they're running out of things to speculate on.

Unless someone jumps higher than $180k, they have nothing to drive page views anymore. Everyone not being purposefully obtuse knows this means c/o 2016 gets $180k.

I don't think its about speculation, pageviews, or being purposefully obtuse. That girl is just real dumb. Apparently she thinks we sign emplyoment contracts too...

[John_Luther1989]

Sad thing is that, even if Covington does eventually match, they look like dicks for sending out that dumb ass email with lame ass excuses for being stingy.

[mushybrain]

My offer letter didn't even have a salary--it just said I'd be paid the going rate at the firm for a first year. They confirmed salaries over the summer before I started.

One would think that if incoming associates would NOT be on the new pay scale that'd be more important to explicitly state than the fact that they would be. Doesn't really make sense to have the pay bump take effect next month and not bother to indicate it'll lag a year for the first year bracket. Except for current first years. Just the next first years. What?