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

[Br3v]

Skadden matching all offices confirmed. Executive partner just announced verbally in-person in CA.

300 attorneys in DC
177 attorneys in Chi
(732 in NY)

[sundance95]

Agreed with above. Think Covington saw themselves as the Cravath of DC (in terms of compensation market-setting), and hoped that no one else in DC would make the jump if they publicly stated that they wouldn't. Happily, it doesn't look like the center will hold on that one.

[Anonymous User]

Houston offices paying 180k:
Weil
Quinn
Skadden
STB
Winston

Come on Big 3!

[Anonymous User]

Weil just confirmed that SA salaries would also be increased

[TripTrip]

Man, 180k in Charlotte is insane. WHAT HAVE I DONE

I thought that when it was 160.

MFW Charlotte Winston associates are making more than Cov DC associates.

[5ky]

Agreed with above. Think Covington saw themselves as the Cravath of DC (in terms of compensation market-setting), and hoped that no one else in DC would make the jump if they publicly stated that they wouldn't. Happily, it doesn't look like the center will hold on that one.

I think this is sort of right, but it was more akin to floating a trial balloon instead of boldly coming out and saying "we are not doing this."

They sent the email knowing it'd get leaked, but they never came out and said they aren't doing it.

[Desert Fox]

If Winston is going all office to 180, this thing is done. We all are going to 180k.

[Anonymous User]

CHI:
QE
Winston
Skadden

Waiting on: KE, Latham, Sidley

[Anonymous User]

If Winston is going all office to 180, this thing is done. We all are going to 180k.

I agree. Covington DC included.

[sundance95]

Agreed with above. Think Covington saw themselves as the Cravath of DC (in terms of compensation market-setting), and hoped that no one else in DC would make the jump if they publicly stated that they wouldn't. Happily, it doesn't look like the center will hold on that one.

I think this is sort of right, but it was more akin to floating a trial balloon instead of boldly coming out and saying "we are not doing this."

They sent the email knowing it'd get leaked, but they never came out and said they aren't doing it.

Right, exactly. Folks who think this will cost Covington are mistaken. The fact that Covington wanted to pay associates less but then relented in the face of the market is not going to materially affect their recruiting.

[TripTrip]

Waiting on: KE, Latham, Sidley

inb4 Sidley can't afford the increase because they spend too much sponsoring student organizations.

[Anonymous User]

So any votes on which V50 might not match even in NY? It's a bigger hit to the <1M PPP firms...

[Anonymous User]

I know Jones Day gets heat on these boards, but will they raise to 180k at least in NY? Obviously won't know the scale for midlevels and such but interested if they will increase first year, and if they do would they even broadcast that

[Desert Fox]

So any votes on which V50 might not match even in NY? It's a bigger hit to the <1M PPP firms...

K&L doesn't even pay market now. So clearly they won't move or they'll a bullshit move that looks like 180k, but really isnt.

[Anonymous User]

What about the V100 NY based firms with lower PPP than Winston but also have offices everywhere? Is a firm with dreadful PPP like Pillsbury Winthrop going to match? Doubt it.

[Anonymous User]

Man, 180k in Charlotte is insane. WHAT HAVE I DONE

I thought that when it was 160.

MFW Charlotte Winston associates are making more than Cov DC associates.

[rpupkin]

You think this is just a hardline way of them being able to tell clients that their hand was forced?

No I think they were trying to SET the DC market at 160k. But if that fails, worst case they just pay the new market. Nobody will turn down Convington because they tried and failed to prevent the raise.

It sort of looks bad, but Convington is know to be cheap as fuck already.

Yep.

[Anonymous User]

Houston offices paying 180k:
Weil
Quinn
Skadden
STB
Winston

Come on Big 3!

in a similar vein, California offices matching Cravath:

Irell (LA and OC)
Hueston Hennigan (LA and OC)
Quinn Emanuel (LA, SF, SV)
Skadden (LA and SV)
Simpson Thacher (LA and SV)
Milbank (LA)
Weil Gotschal (SV)
Kirkland* (LA, SF, SV)
Winston (LA, SF, SV)

[Anonymous User]

So any votes on which V50 might not match even in NY? It's a bigger hit to the <1M PPP firms...

K&L doesn't even pay market now. So clearly they won't move or they'll a bullshit move that looks like 180k, but really isnt.

How far are they actually off from market? Heard about the 10% cut for not hitting hours in Boston but nothing like that if you hit hours in NYC?

[Anonymous User]

Where the hell is Cadwalader?

[TripTrip]

Where the hell is Cadwalader?

Cad who? I'm sorry, I only know the names of law firms that pay market.

[Anonymous User]

Where the hell is Cadwalader?

I wouldn't worry. S&C and DPW still haven't matched, but its been a foregone conclusion for days.

[smaug]

Where the hell is Cadwalader?

This will really hurt Cadwalader. Give them some time to deal with it

[arklaw13]

I know Jones Day gets heat on these boards, but will they raise to 180k at least in NY? Obviously won't know the scale for midlevels and such but interested if they will increase first year, and if they do would they even broadcast that

I can't imagine they won't match in major markets if all their peers do. Maybe not Dallas. Who knows what they'll do for OH and ATL.

[splitmuch]

I know Jones Day gets heat on these boards, but will they raise to 180k at least in NY? Obviously won't know the scale for midlevels and such but interested if they will increase first year, and if they do would they even broadcast that

I can't imagine they won't match in major markets if all their peers do. Maybe not Dallas. Who knows what they'll do for OH and ATL.

2500 attorneys, 1 mill ppp. I could see them not matching.