NYC to 200k Forum

[OneTwoThreeFour]

Let’s preserve this thread for what really matters, giving us more money. Maybe re-name the thread JG Wentworth 877-CASH-NOW to really bring it home

Yeah let's get things back on track.

NY TO 200!!!

[Anonymous User]

Edit

[Anonymous User]

WHY HAVEN’T MORE FIRMS ANNOUNCED??????

[Anonymous User]

WHY HAVEN’T MORE FIRMS ANNOUNCED??????

Firms with only a few offices (e.g., DPW, S&C, STB, Cravath, Debevoise) can move very quickly, and certainly one of them should match or raise today. If we don't hear from any of these firms today, they are being very cautious about not getting leapfrogged.

Firms with lots of international offices and a dispersed partnership (e.g., Cleary, Latham, Skadden, Sidley, Kirkland) may take up to a week to react. That said, earlier in this thread a Kirkland associate mentioned that Kirkland had already pre-approved matches of certain firms up to $200k as of 2016...

Are we really going to be talking about the Milbank Scale for the next five years? I doubt it.

[Anonymous User]

WHY HAVEN’T MORE FIRMS ANNOUNCED??????

Firms with only a few offices (e.g., DPW, S&C, STB, Cravath, Debevoise) can move very quickly, and certainly one of them should match or raise today. If we don't hear from any of these firms today, they are being very cautious about not getting leapfrogged.

Firms with lots of international offices and a dispersed partnership (e.g., Cleary, Latham, Skadden, Sidley, Kirkland) may take up to a week to react. That said, earlier in this thread a Kirkland associate mentioned that Kirkland had already pre-approved matches of certain firms up to $200k as of 2016...

Are we really going to be talking about the Milbank Scale for the next five years? I doubt it.

FWIW K&E also took 3-4 days to announce the match in 2016, so I wouldn’t read much into that. I do think the leapfrogging concern is real though, so I suspect it’ll take a bit for all of the top firms to get on board. I’m optimistic for that reason - if firms are expecting one of their peers to go to 200k and they know they’re going to match it, why not be the one to go first and get your name in lights like MILBANK.

[Traynor Brah]

WHY HAVEN’T MORE FIRMS ANNOUNCED??????

Firms with only a few offices (e.g., DPW, S&C, STB, Cravath, Debevoise) can move very quickly, and certainly one of them should match or raise today. If we don't hear from any of these firms today, they are being very cautious about not getting leapfrogged.

Firms with lots of international offices and a dispersed partnership (e.g., Cleary, Latham, Skadden, Sidley, Kirkland) may take up to a week to react. That said, earlier in this thread a Kirkland associate mentioned that Kirkland had already pre-approved matches of certain firms up to $200k as of 2016...

Are we really going to be talking about the Milbank Scale for the next five years? I doubt it.

FWIW K&E also took 3-4 days to announce the match in 2016, so I wouldn’t read much into that. I do think the leapfrogging concern is real though, so I suspect it’ll take a bit for all of the top firms to get on board. I’m optimistic for that reason - if firms are expecting one of their peers to go to 200k and they know they’re going to match it, why not be the one to go first and get your name in lights like MILBANK.

Because it pisses off clients.

[Anonymous User]

WHY HAVEN’T MORE FIRMS ANNOUNCED??????

Firms with only a few offices (e.g., DPW, S&C, STB, Cravath, Debevoise) can move very quickly, and certainly one of them should match or raise today. If we don't hear from any of these firms today, they are being very cautious about not getting leapfrogged.

Firms with lots of international offices and a dispersed partnership (e.g., Cleary, Latham, Skadden, Sidley, Kirkland) may take up to a week to react. That said, earlier in this thread a Kirkland associate mentioned that Kirkland had already pre-approved matches of certain firms up to $200k as of 2016...

Are we really going to be talking about the Milbank Scale for the next five years? I doubt it.

FWIW K&E also took 3-4 days to announce the match in 2016, so I wouldn’t read much into that. I do think the leapfrogging concern is real though, so I suspect it’ll take a bit for all of the top firms to get on board. I’m optimistic for that reason - if firms are expecting one of their peers to go to 200k and they know they’re going to match it, why not be the one to go first and get your name in lights like MILBANK.

Because it pisses off clients.

It’s a fair concern, but I don’t buy it for V10 clients. If you’re willing to pay Cravath rates you probably want them recruiting the best associates.

[Anonymous User]

WHY HAVEN’T MORE FIRMS ANNOUNCED??????

Firms with only a few offices (e.g., DPW, S&C, STB, Cravath, Debevoise) can move very quickly, and certainly one of them should match or raise today. If we don't hear from any of these firms today, they are being very cautious about not getting leapfrogged.

Firms with lots of international offices and a dispersed partnership (e.g., Cleary, Latham, Skadden, Sidley, Kirkland) may take up to a week to react. That said, earlier in this thread a Kirkland associate mentioned that Kirkland had already pre-approved matches of certain firms up to $200k as of 2016...

Are we really going to be talking about the Milbank Scale for the next five years? I doubt it.

FWIW K&E also took 3-4 days to announce the match in 2016, so I wouldn’t read much into that. I do think the leapfrogging concern is real though, so I suspect it’ll take a bit for all of the top firms to get on board. I’m optimistic for that reason - if firms are expecting one of their peers to go to 200k and they know they’re going to match it, why not be the one to go first and get your name in lights like MILBANK.

Because it pisses off clients.

It’s a fair concern, but I don’t buy it for V10 clients. If you’re willing to pay Cravath rates you probably want them recruiting the best associates.

Are cravath rates higher? V100 is already at 535/635 for firstl/second years and 1250 for many partners

[Yardbird]

Are we really going to be talking about the Milbank Scale for the next fivetwo years? I doubt it.

FTFY

[Anonymous User]

Are we really going to be talking about the Milbank Scale for the next fivetwo years? I doubt it.

FTFY

We are going to be talking about the Milbank theory for decades to come. 10k every two years for COL adjustment is new market, if not 15k or 20k.

[Anonymous User]

WHY HAVEN’T MORE FIRMS ANNOUNCED??????

Firms with only a few offices (e.g., DPW, S&C, STB, Cravath, Debevoise) can move very quickly, and certainly one of them should match or raise today. If we don't hear from any of these firms today, they are being very cautious about not getting leapfrogged.

Firms with lots of international offices and a dispersed partnership (e.g., Cleary, Latham, Skadden, Sidley, Kirkland) may take up to a week to react. That said, earlier in this thread a Kirkland associate mentioned that Kirkland had already pre-approved matches of certain firms up to $200k as of 2016...

Are we really going to be talking about the Milbank Scale for the next five years? I doubt it.

Remember, even at firms with relatively concentrated partnerships, the partners all have actual jobs, too, and this won't even take effect until 7/1 so they may not feel a huge rush. STB, DPW, S&C, Debevoise and K&E all took two days to match last time. Breathe.

Edit: my list of firms was chosen because it's the list that was referenced in the post I quoted (minus Cravath, which didn't have to match when it moved to 180) plus K&E because everyone is talking about K&E. If I were trying to include only preftigious firms, I'd obviously be talking about Jones Day and DLA Piper.

[TheoO]

WHY HAVEN’T MORE FIRMS ANNOUNCED??????

Firms with only a few offices (e.g., DPW, S&C, STB, Cravath, Debevoise) can move very quickly, and certainly one of them should match or raise today. If we don't hear from any of these firms today, they are being very cautious about not getting leapfrogged.

Firms with lots of international offices and a dispersed partnership (e.g., Cleary, Latham, Skadden, Sidley, Kirkland) may take up to a week to react. That said, earlier in this thread a Kirkland associate mentioned that Kirkland had already pre-approved matches of certain firms up to $200k as of 2016...

Are we really going to be talking about the Milbank Scale for the next five years? I doubt it.

FWIW K&E also took 3-4 days to announce the match in 2016, so I wouldn’t read much into that. I do think the leapfrogging concern is real though, so I suspect it’ll take a bit for all of the top firms to get on board. I’m optimistic for that reason - if firms are expecting one of their peers to go to 200k and they know they’re going to match it, why not be the one to go first and get your name in lights like MILBANK.

Because it pisses off clients.

It’s a fair concern, but I don’t buy it for V10 clients. If you’re willing to pay Cravath rates you probably want them recruiting the best associates.

TBF, I still doubt that law students holding CSM offers are going to turn them down against other firms even if they stay at 180k.

[Cobretti]

WHY HAVEN’T MORE FIRMS ANNOUNCED??????

Firms with only a few offices (e.g., DPW, S&C, STB, Cravath, Debevoise) can move very quickly, and certainly one of them should match or raise today. If we don't hear from any of these firms today, they are being very cautious about not getting leapfrogged.

Firms with lots of international offices and a dispersed partnership (e.g., Cleary, Latham, Skadden, Sidley, Kirkland) may take up to a week to react. That said, earlier in this thread a Kirkland associate mentioned that Kirkland had already pre-approved matches of certain firms up to $200k as of 2016...

Are we really going to be talking about the Milbank Scale for the next five years? I doubt it.

FWIW K&E also took 3-4 days to announce the match in 2016, so I wouldn’t read much into that. I do think the leapfrogging concern is real though, so I suspect it’ll take a bit for all of the top firms to get on board. I’m optimistic for that reason - if firms are expecting one of their peers to go to 200k and they know they’re going to match it, why not be the one to go first and get your name in lights like MILBANK.

Because it pisses off clients.

It’s a fair concern, but I don’t buy it for V10 clients. If you’re willing to pay Cravath rates you probably want them recruiting the best associates.

TBF, I still doubt that law students holding CSM offers are going to turn them down against other firms even if they stay at 180k.

You must have graduated without debt. What a life.

[Anonymous User]

TBF, I still doubt that law students holding CSM offers are going to turn them down against other firms even if they stay at 180k.

I don't think that top law students will turn down CSM for Milbank for $10k. Top law students will, however, turn down CSM for a peer firm (without reentering this discussion) for $10k. More generally, all law students will certainly think twice about joining a firm that has said that it does not want to compensate at the very top of the market in New York.

Firms that don't pay the top of the market do not care about attracting the very highest quality of talent. Law firms are all about their lawyers. Having a lawyer who is 90% as good as the opposing counsel doesn't mean your lawyer should get paid 90% as much; it means your lawyer sucks and should get paid nothing.

[Helmholtz]

WHY HAVEN’T MORE FIRMS ANNOUNCED??????

Firms with only a few offices (e.g., DPW, S&C, STB, Cravath, Debevoise) can move very quickly, and certainly one of them should match or raise today. If we don't hear from any of these firms today, they are being very cautious about not getting leapfrogged.

Firms with lots of international offices and a dispersed partnership (e.g., Cleary, Latham, Skadden, Sidley, Kirkland) may take up to a week to react. That said, earlier in this thread a Kirkland associate mentioned that Kirkland had already pre-approved matches of certain firms up to $200k as of 2016...

Are we really going to be talking about the Milbank Scale for the next five years? I doubt it.

FWIW K&E also took 3-4 days to announce the match in 2016, so I wouldn’t read much into that. I do think the leapfrogging concern is real though, so I suspect it’ll take a bit for all of the top firms to get on board. I’m optimistic for that reason - if firms are expecting one of their peers to go to 200k and they know they’re going to match it, why not be the one to go first and get your name in lights like MILBANK.

Because it pisses off clients.

It’s a fair concern, but I don’t buy it for V10 clients. If you’re willing to pay Cravath rates you probably want them recruiting the best associates.

TBF, I still doubt that law students holding CSM offers are going to turn them down against other firms even if they stay at 180k.

If you're holding a CSM offer and planning to go, you probably don't have offers from other firms.

[Man from Nantucket]

WHY HAVEN’T MORE FIRMS ANNOUNCED??????

Firms with only a few offices (e.g., DPW, S&C, STB, Cravath, Debevoise) can move very quickly, and certainly one of them should match or raise today. If we don't hear from any of these firms today, they are being very cautious about not getting leapfrogged.

Firms with lots of international offices and a dispersed partnership (e.g., Cleary, Latham, Skadden, Sidley, Kirkland) may take up to a week to react. That said, earlier in this thread a Kirkland associate mentioned that Kirkland had already pre-approved matches of certain firms up to $200k as of 2016...

Are we really going to be talking about the Milbank Scale for the next five years? I doubt it.

Remember, even at firms with relatively concentrated partnerships, the partners all have actual jobs, too, and this won't even take effect until 7/1 so they may not feel a huge rush. STB, DPW, S&C, Debevoise and K&E all took two days to match last time. Breathe.

How many Debevoise associates do we have in this thread?

[Anonymous User]

Is there a site that has each firm's PPP over time? I could have sworn Milkbank was a $1 to $1.5 million PPP firm and I see it's a $3 million PPP firm!

[Clearly]

Love the energy on this when talking about the raise, good stuff. I have some unsolicited comments for some of the others ITT, stfu. Some of y’all are literally on here arguing over whose peer firms with who. I cannot be more serious when I say this, nobody gives a fuck!! I just had to scroll 4 pages through people arguing whether Milbank is a peer firm with Jones day like wtf *insert nick young gif here*. Seriously, if you want to discuss peers and prestige (even though you totally don’t care about prestige ) maybe start a new thread. Let’s preserve this thread for what really matters, giving us more money. Maybe re-name the thread JG Wentworth 877-CASH-NOW to really bring it home

You don't seem to be connecting things. Prestige is very relevant to the discussion. Watch..."Cravath matched the Millbank scale"... See how weird that sounds? That prestige gap is why we think one of the actual comp leaders might retain their throne.

[Anonymous User]

How many Debevoise associates do we have in this thread?

Out of that list, K&E is the one that does not belong, not Debevoise. Like DPW, CSM and CGSH, the median lawyer at Debevoise attended Columbia; the median lawyer at Kirkland attended Cornell.

[Anonymous User]

Firms with higher leverage probably have to think more about the raise. Kirkland has like a 1:1 ratio, so they could realistically go to like 250 without having any seismic changes.

Some of these V10s have like 7 associates per partner. That’s like $100k a partner is losing to fund associates.

And let’s stop pretending clients pay these absurd rates for associates because they think the quality of associate work is better at a Cravath over a Wilmer. The clients want the best partners and they’re willing to pay whatever to work with that partner. Stop tooting your horns.

I hope Kirkland destroys the market.

[Anonymous User]

You don't seem to be connecting things. Prestige is very relevant to the discussion. Watch..."Cravath matched the Millbank scale"... See how weird that sounds? That prestige gap is why we think one of the actual comp leaders might retain their throne.

Milbank raised salaries, and ATL's clickbait headline not once mentions Milbank; it does, however, mention Cravath and how it didn't raise salaries ("New York To $190K — No, Cravath Didn’t Make The First Move"). Go figure.

[TheoO]

WHY HAVEN’T MORE FIRMS ANNOUNCED??????

Firms with only a few offices (e.g., DPW, S&C, STB, Cravath, Debevoise) can move very quickly, and certainly one of them should match or raise today. If we don't hear from any of these firms today, they are being very cautious about not getting leapfrogged.

Firms with lots of international offices and a dispersed partnership (e.g., Cleary, Latham, Skadden, Sidley, Kirkland) may take up to a week to react. That said, earlier in this thread a Kirkland associate mentioned that Kirkland had already pre-approved matches of certain firms up to $200k as of 2016...

Are we really going to be talking about the Milbank Scale for the next five years? I doubt it.

FWIW K&E also took 3-4 days to announce the match in 2016, so I wouldn’t read much into that. I do think the leapfrogging concern is real though, so I suspect it’ll take a bit for all of the top firms to get on board. I’m optimistic for that reason - if firms are expecting one of their peers to go to 200k and they know they’re going to match it, why not be the one to go first and get your name in lights like MILBANK.

Because it pisses off clients.

It’s a fair concern, but I don’t buy it for V10 clients. If you’re willing to pay Cravath rates you probably want them recruiting the best associates.

TBF, I still doubt that law students holding CSM offers are going to turn them down against other firms even if they stay at 180k.

You must have graduated without debt. What a life.

Not speaking for myself. I'm debt-riddled. I'm basing this all on experience dealing with fellow law students. The power of the brand is more than most can take.

[TheoO]

Firms with higher leverage probably have to think more about the raise. Kirkland has like a 1:1 ratio, so they could realistically go to like 250 without having any seismic changes.

Some of these V10s have like 7 associates per partner. That’s like $100k a partner is losing to fund associates.

And let’s stop pretending clients pay these absurd rates for associates because they think the quality of associate work is better at a Cravath over a Wilmer. The clients want the best partners and they’re willing to pay whatever to work with that partner. Stop tooting your horns.

I hope Kirkland destroys the market.

Isn't K&E filled with non-equity partners?

[Cobretti]

Firms with higher leverage probably have to think more about the raise. Kirkland has like a 1:1 ratio, so they could realistically go to like 250 without having any seismic changes.

Some of these V10s have like 7 associates per partner. That’s like $100k a partner is losing to fund associates.

And let’s stop pretending clients pay these absurd rates for associates because they think the quality of associate work is better at a Cravath over a Wilmer. The clients want the best partners and they’re willing to pay whatever to work with that partner. Stop tooting your horns.

I hope Kirkland destroys the market.

Isn't K&E filled with non-equity partners?

Yes, its basically synonymous with senior associate.

[Anonymous User]

TBF, I still doubt that law students holding CSM offers are going to turn them down against other firms even if they stay at 180k.

I don't think that top law students will turn down CSM for Milbank for $10k. Top law students will, however, turn down CSM for a peer firm (without reentering this discussion) for $10k. More generally, all law students will certainly think twice about joining a firm that has said that it does not want to compensate at the very top of the market in New York.

Firms that don't pay the top of the market do not care about attracting the very highest quality of talent. Law firms are all about their lawyers. Having a lawyer who is 90% as good as the opposing counsel doesn't mean your lawyer should get paid 90% as much; it means your lawyer sucks and should get paid nothing.

Idk man the plaintiffs lawyers I fight against every day are mostly retarded and they still make a lot of headway because turns out our civil justice system rewards outrageous accusations with little evidentiary support