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

[imalreadyamember?]

First non-joking poast in a while:

Have any of these firms not matching at least sent some communication with associates, notifying them that management is aware of what's going on and will address it (or whatever)?

People deserve at least that.

Nope. I'm at one of A&P CWT SRZ K&S and have received nothing its just associate speculation. it was mentioned to a junior partner in a drinking setting and she/he had no idea what was going on

I have a really hard time with the notion that STB can match in a day or two but the entire HHR et. al partnership is just so busy it can't be bothered to even address it for a week.

LOL I hope this is sarcasm that I'm missing. STB saw 180k and went "oh thank god it's not higher" and pressed GO on the nuclear launch code button that's been in place for years. Like flipping a coin in a fountain.

[LaLiLuLeLo]

First non-joking poast in a while:

Have any of these firms not matching at least sent some communication with associates, notifying them that management is aware of what's going on and will address it (or whatever)?

People deserve at least that.

Sheppard Mullin sent this email on Friday evening:

All of us have been reading about the changes in associate salary that are currently taking place in large law firms. Our firm’s management is following the developments in the market and considering the way in which our firm should respond. As in the past, firm management will be influenced by the actions of the law firms with which our firm competes most often for Associate talent. At present, most of those firms have not yet announced changes. We will continue to monitor market developments, and we will communicate with you again.

SMRH needs to be advanced up the shit list ASAP.

"We compete with such elite firms as Covington & Burling and the Law Offices of Larry H. Parker, neither of which has announced a raise."

Management provided us with a list of firms they consider "peer" when there were issues with bonuses and other benefits. Based on the movement in the last few days, we basically just need Orrick and Pillsbury to match, then any argument for not matching will become suspect. Loeb, Alston and Bird, and Arnold and Porter would be nice, too.

Pillsbury is probably doing the same thing and won't move until they have to.

[Anonymous User]

Ropes & Gray to 180. Just now

all offices?

All US offices

[Anonymous User]

Ropes & Gray to 180. Just now

all offices?

Yes, all US offices, memo here:
http://abovethelaw.com/2016/06/how-you- ... -salaries/

[Anonymous User]

Update: MoFo matched for summers.

[TLSModBot]

As much as we rag on Covington, there could be some good that will come out of them not matching.

For instance, think of the additional blood drive donations as CovingTTTon associates sell plasma to make rent.

[123fakest]

.

[El Pollito]

*replying to recruiters with fat joe videos*

[Big Shrimpin]

*replying to recruiters with fat joe videos*

lold

[TFALAWL]

Bracewell just matched!

[Anonymous User]

goddammit jones day you're killing me here

[Anonymous User]

goddammit jones day you're killing me here

My best guess is JD WH and A&P are holding hands sheltering under Covingttton. This allows them to save prestige-face by saying they are following their "peers".

Now that Ropes has moved, WH and Goodwin will follow tomorrow or in a few days. Then Cov. will raise saying "last week's memo didn't mean we weren't going to move D.C. to 180, we just needed to evaluate market conditions before making a move rather than following the pack." A&P will fold.

While this is happening (hopefully this week), JD's competitors in other markets will slowly move in step and after that, JD will follow.

DLA and K&L will not move before JD.

Firms below v-50 will send opaque "we are raising" which will = 145 --> 160.

Then this thread will die.

[Anonymous User]

WTactualF MB....

[Anonymous User]

goddammit jones day you're killing me here

JD will probably announce via snail mail or something.

[Anonymous User]

goddammit jones day you're killing me here

JD will probably announce via snail mail or something.

For many firms the lag can be attributed to partner votes etc. Not so with JD.

Realistically, the firm is in a tight spot: with all the new offices opening this year, they are probably low on cash flow (and notoriously hate taking too much debt) + their PPP puts them on the margins. On the other hand, their blackbox compensation means that associates only get market base but no bonus, which means that associates make 10-40% less even before 180k.

That said JD isn't picky about pedigree T-14 grads, or perceived prestige. Brogan is more about bottom line (it's part of the Kool-aid thing). So they could be willing to pick less competitive candidates.

Nonetheless, they need a 170 recruits just to maintain 1.7/1 leverage.

Take this info and make conclusions as I am not a biglaw analyst

[Anonymous User]

WTactualF MB....

Did they announce something or is this just a general why are they waiting so long complaint?

[Serett]

[youtube]GFxVmYXr-s0[/youtube]

[Anonymous User]

Mayor Jones Shepparding Arnold and Wilmer from a Brown unCovetted Day

[Anonymous User]

Re: MB, general groan/complaint.

[Anonymous User]

goddammit jones day you're killing me here

My best guess is JD WH and A&P are holding hands sheltering under Covingttton. This allows them to save prestige-face by saying they are following their "peers".

Now that Ropes has moved, WH and Goodwin will follow tomorrow or in a few days. Then Cov. will raise saying "last week's memo didn't mean we weren't going to move D.C. to 180, we just needed to evaluate market conditions before making a move rather than following the pack." A&P will fold.

While this is happening (hopefully this week), JD's competitors in other markets will slowly move in step and after that, JD will follow.

DLA and K&L will not move before JD.

Firms below v-50 will send opaque "we are raising" which will = 145 --> 160.

Then this thread will die.

[Anonymous User]

Re: MB, general groan/complaint.

To: MB
From: JD

Welcome to BlackBox

[Anonymous User]

goddammit jones day you're killing me here

Heard from pretty well sourced folks that "unofficially" JD will match before OCI begins. Unofficial b/c Brogan hasn't declared it officially.

[Anonymous User]

My firm has not even sent an email saying they are aware of what is going on yet. I guess they just dont care. Time to get the resume dusted off I guess (and yes I'm the idiot who turned down a V25 for a V75 because of "fit").

Also, where are the ATTTlanta firms at (A&B, King and Spalding).I mean, Paul Hastings is @180k in your own home market, though I understand that the office is small but really wtf.


Well, maybe i will just talk more shit about ConvingTTTon.

HOGAN bros take foreign born ASS MODELS to Georgia Browns's eating fresh FARM RAISED catfish before returning to sweet Dupoint 2 BR apartment to smash. Covington slackers WALK to Pentagon City Mall to meet TINDER dates who are "new to town" and "no hook-ups please" for SUBWAY footlongs (no chips) before returning to crystal city studio they share with two friends from HIGH SCHOOL. The friends pay no rent.

[Anonymous User]

I saw a covingTTTon bro in line at the social services building at 14th and U this morning. Sad times. Identified him by his ratty saddle bag.

[NeverBanned]

Paul Hastings Atlanta Associates buy ownership stake in Hawks with court side seats every game. CovingTTTon associates save up to attend one Washington Mystics WNBA pre-season game.