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

[tuhaybey]

http://www.vault.com/company-rankings/l ... sRankID=15

. . . Covington should not be able to hold onto this ranking. Next time associates get the vault survey request (and next time rising 2Ls choose firms) they need to make it clear what happens when you screw your associates.

Agreed.

[Anonymous User]

^ I believe Orrick did match in all offices. Someone please confirm?

Edit: They have not.

[Anonymous User]

cap was kind enough to share his data and some interesting metrics.

some interesting things so far:

for the most part, these are the players you'd expect. if you'd look at the PPP standings, we've heard from everyone in 1-20 except:

WLRK (lol)
GDC (shame!)
Boies (shame!)
Latham (shame!)
BuckleySandler (do they hire entry level associates?)
and Willkie.

With Weil coming in as the least profitable of the very-profitable group, PPP ranges from above 6MM (lol WLRK), to 2.5MM.

We also have two hero firms punching way above weight. Cooley and Winston are both in the 1.9-1.8MM PPP range and still signed up for this.

In terms of who is giving up the most (and who will be hurt), PW and Cleary are the movers who will take the biggest hit so far, but there's not much to support that Cravath did this to spite its close competitors: the salary move will cost CSM more than all but PW, DPW, Cleary and Weil.

but, if we include those who haven't moved, it'll also cost more for Cadwalader, White and Case, Orrick, DLA Pipe, K&L Gates, and Squire Patton Boggs to match than it did for Cravath to set.

In terms of firms we've talked about to shame, the PPP hit for Munger would only be about 27k. Compare that to Cadwalader who takes a 150k PPP hit, dropping their PPP by 7.25%.

Out of curiosity, where does Dechert appear on this list?

[Big Shrimpin]

cap was kind enough to share his data and some interesting metrics.

some interesting things so far:

for the most part, these are the players you'd expect. if you'd look at the PPP standings, we've heard from everyone in 1-20 except:

WLRK (lol)
GDC (shame!)
Boies (shame!)
Latham (shame!)
BuckleySandler (do they hire entry level associates?)
and Willkie.

With Weil coming in as the least profitable of the very-profitable group, PPP ranges from above 6MM (lol WLRK), to 2.5MM.

We also have two hero firms punching way above weight. Cooley and Winston are both in the 1.9-1.8MM PPP range and still signed up for this.

In terms of who is giving up the most (and who will be hurt), PW and Cleary are the movers who will take the biggest hit so far, but there's not much to support that Cravath did this to spite its close competitors: the salary move will cost CSM more than all but PW, DPW, Cleary and Weil.

but, if we include those who haven't moved, it'll also cost more for Cadwalader, White and Case, Orrick, DLA Pipe, K&L Gates, and Squire Patton Boggs to match than it did for Cravath to set.

In terms of firms we've talked about to shame, the PPP hit for Munger would only be about 27k. Compare that to Cadwalader who takes a 150k PPP hit, dropping their PPP by 7.25%.

isnt cov like #70 in PPP?

[Big Shrimpin]

cap was kind enough to share his data and some interesting metrics.

some interesting things so far:

for the most part, these are the players you'd expect. if you'd look at the PPP standings, we've heard from everyone in 1-20 except:

WLRK (lol)
GDC (shame!)
Boies (shame!)
Latham (shame!)
BuckleySandler (do they hire entry level associates?)
and Willkie.

With Weil coming in as the least profitable of the very-profitable group, PPP ranges from above 6MM (lol WLRK), to 2.5MM.

We also have two hero firms punching way above weight. Cooley and Winston are both in the 1.9-1.8MM PPP range and still signed up for this.

In terms of who is giving up the most (and who will be hurt), PW and Cleary are the movers who will take the biggest hit so far, but there's not much to support that Cravath did this to spite its close competitors: the salary move will cost CSM more than all but PW, DPW, Cleary and Weil.

but, if we include those who haven't moved, it'll also cost more for Cadwalader, White and Case, Orrick, DLA Pipe, K&L Gates, and Squire Patton Boggs to match than it did for Cravath to set.

In terms of firms we've talked about to shame, the PPP hit for Munger would only be about 27k. Compare that to Cadwalader who takes a 150k PPP hit, dropping their PPP by 7.25%.

Out of curiosity, where does Dechert appear on this list?

dechert is i think 22 in PPP

[smaug]

Dechert is coming up/on the bubble so to speak. It would move their PPP from 2.5MM to 2.4MM (approx) but their PPP might be more than Weil's after the move...

Also on the bubble/in that range are Willkie, K&S, Paul Hastings.

SRZ, WSGR, Fried Frank, Proskauer, and Sidley would take us to 2MM PPP after the move.

[TLSModBot]

cap was kind enough to share his data and some interesting metrics.

some interesting things so far:

for the most part, these are the players you'd expect. if you'd look at the PPP standings, we've heard from everyone in 1-20 except:

WLRK (lol)
GDC (shame!)
Boies (shame!)
Latham (shame!)
BuckleySandler (do they hire entry level associates?)
and Willkie.

With Weil coming in as the least profitable of the very-profitable group, PPP ranges from above 6MM (lol WLRK), to 2.5MM.

We also have two hero firms punching way above weight. Cooley and Winston are both in the 1.9-1.8MM PPP range and still signed up for this.

In terms of who is giving up the most (and who will be hurt), PW and Cleary are the movers who will take the biggest hit so far, but there's not much to support that Cravath did this to spite its close competitors: the salary move will cost CSM more than all but PW, DPW, Cleary and Weil.

but, if we include those who haven't moved, it'll also cost more for Cadwalader, White and Case, Orrick, DLA Pipe, K&L Gates, and Squire Patton Boggs to match than it did for Cravath to set.

In terms of firms we've talked about to shame, the PPP hit for Munger would only be about 27k. Compare that to Cadwalader who takes a 150k PPP hit, dropping their PPP by 7.25%.

isnt cov like #70 in PPP?

No way they're hanging at a solid 69th place.

[Big Shrimpin]

WHAT A TIME TO BE ALIVE

TY BRO

i havent felt this ALIVE in a LONG time

that's what 4 years of BIGLAW will do 2 u

[smaug]

isnt cov like #70 in PPP?

yup. significantly below anyone else who has moved so far.

Jones Day is even lower.

They're definitely the ones getting squeezed hardest by the profitability/prestige divide.

[Big Shrimpin]

cap was kind enough to share his data and some interesting metrics.

some interesting things so far:

for the most part, these are the players you'd expect. if you'd look at the PPP standings, we've heard from everyone in 1-20 except:

WLRK (lol)
GDC (shame!)
Boies (shame!)
Latham (shame!)
BuckleySandler (do they hire entry level associates?)
and Willkie.

With Weil coming in as the least profitable of the very-profitable group, PPP ranges from above 6MM (lol WLRK), to 2.5MM.

We also have two hero firms punching way above weight. Cooley and Winston are both in the 1.9-1.8MM PPP range and still signed up for this.

In terms of who is giving up the most (and who will be hurt), PW and Cleary are the movers who will take the biggest hit so far, but there's not much to support that Cravath did this to spite its close competitors: the salary move will cost CSM more than all but PW, DPW, Cleary and Weil.

but, if we include those who haven't moved, it'll also cost more for Cadwalader, White and Case, Orrick, DLA Pipe, K&L Gates, and Squire Patton Boggs to match than it did for Cravath to set.

In terms of firms we've talked about to shame, the PPP hit for Munger would only be about 27k. Compare that to Cadwalader who takes a 150k PPP hit, dropping their PPP by 7.25%.

isnt cov like #70 in PPP?

No way they're hanging at a solid 69th place.

FUCK MY ASS ur right

HOGAN @ 70

[Anonymous User]

Do ya'll think W&C moves up to $220k?

[Anonymous User]

at 1.5mm ppp firm...sweating bullets.

[Anonymous User]

at 1.5mm ppp firm...sweating bullets.

same...not normally an anon poster...not expecting anything for a while, if at all

[n1o2c3a4c5h6e7t]

The more NY gets paid, the more TX pulls away.

[Anonymous User]

at 1.5mm ppp firm...sweating bullets.

same...not normally an anon poster...not expecting anything for a while, if at all

As someone at a firm that would be hard hit by the hikes, this period of celebration has been not particularly sanguine. I really would love to know what it's like to be at one of those powerhouse firms that matched.

[Anonymous User]

So with Jones Day at 1M, could it even afford the move? I've heard they deflate their PPP by reinvesting much of their revenue towards future endeavors -- more long term oriented.

[TLSModBot]

Do ya'll think W&C moves up to $220k?

Not immediately. When firms moved to 160K, W&C went to 165K and stayed for a while - not sure when the next bump up came but it was months later at least. I think they might go 185/190 and then adjust upwards if need be.

[MCFC]

As Cravath goes, so goes Broadway. https://twitter.com/nytimes/status/740721592888623104

[dailygrind]

So with Jones Day at 1M, could it even afford the move? I've heard they deflate their PPP by reinvesting much of their revenue towards future endeavors -- more long term oriented.

It's not like law firms have R&D departments. If JD were a big plaintiff-side firm that were investing in cases that could bring in the big bucks I'd believe it, but I don't think that's the case.

[Big Shrimpin]

at 1.5mm ppp firm...sweating bullets.

same...not normally an anon poster...not expecting anything for a while, if at all

As someone at a firm that would be hard hit by the hikes, this period of celebration has been not particularly sanguine. I really would love to know what it's like to be at one of those powerhouse firms that matched.

honestly, i understand that conference rooms are filled with UNLIMITED BOTTLES of krug, dom, moet, etc. being distributed, indiscriminately, by EQUITY PARTNERS, while UNLIMITED CHEESE PLATES are passed around groups of GIDDY associates

building cleaning staff apparently OVERWHELMED by accumulation of refuse

[Anonymous User]

Do ya'll think W&C moves up to $220k?

Not immediately. When firms moved to 160K, W&C went to 165K and stayed for a while - not sure when the next bump up came but it was months later at least. I think they might go 185/190 and then adjust upwards if need be.

W&C has been at $200k for over a year now. But they'd start becoming "below market" by year 3--when like half the summers actually start working. They'd have to move to 220, right? At least to retain the talent they have now

[TLSModBot]

Do ya'll think W&C moves up to $220k?

Not immediately. When firms moved to 160K, W&C went to 165K and stayed for a while - not sure when the next bump up came but it was months later at least. I think they might go 185/190 and then adjust upwards if need be.

W&C has been at $200k for over a year now. But they'd start becoming "below market" by year 3--when like half the summers actually start working. They'd have to move to 220, right? At least to retain the talent they have now

I'm reasonably certain sheer prestige would keep them going but yes they'll probably bump up. WilCo stands out in big ticket lit work so I think they'd still attract top talent even if they were only equal to current top market pay.

[rpupkin]

Do ya'll think W&C moves up to $220k?

Doubt it. They raised base salaries 20K just a little over a year ago. I could see them raising salaries another $5K- $10K, maybe.

[rpupkin]

Do ya'll think W&C moves up to $220k?

Not immediately. When firms moved to 160K, W&C went to 165K and stayed for a while - not sure when the next bump up came but it was months later at least. I think they might go 185/190 and then adjust upwards if need be.

W&C has been at $200k for over a year now. But they'd start becoming "below market" by year 3--when like half the summers actually start working. They'd have to move to 220, right? At least to retain the talent they have now

In general, associates at firms like W&C don't lateral to leveraged big law firms, so I'm not sure they'll see it like you do. W&C has paid mid-levels and senior associates slightly below market for several years.

[Anonymous User]

I'm p sure Gibson and Latham will follow by Friday, and MTO will follow as soon as their democratic "voting" procedure has had its play. Boies and Wachtell are probably trying to figure out how to proportionally beat the market.