2015 Biglaw Boneus Thread Forum

[Anonymous User]

STB matched.

Had such high hopes for STB this year...

[Anonymous User]

Why 190? I mean, besides talking one's book. NY to 175 seems more realistic.

The real problem here is that law firms got way out ahead of themselves in the overheated period from 2005 to 2007, when starting base salaries in NYC went from $125K to $160K in two years. Then 2008 happened and these same firms found themselves feeling stupid. In constant dollars, the $125K of 2005, would be a little over $152K in 2015. Combined with the fact that supply and demand is still buyer-friendly, and that economic outlook is still uncertain, there's really no incentive to move.

we don't want your reasonable arguments!

don't know if you're considering in your analysis that the job was less demanding in 2005. This is all I could find http://www.altmanweil.com/dir_docs/reso ... cument.pdf
Not saying this HAS to change your conclusion

That report doesn't sound like the job was "less demanding" in 2005 (1995, definitely; 2005, not so much). I mean, my firm (one of the potential market leaders mentioned multiple times in this thread) reports that its average associate billable hours are actually *lower* than the average reported there for firms of 150+ lawyers. We can talk about how those numbers get massaged down for PR/recruiting reasons, but I would assume Altman Weil is using the same source that reports our average associate billables being in the high 1800s.

[Anonymous User]

Shearman matched.

[anonnymouse]

Shearman matched.

Sweet necro, anon.

[jbagelboy]

Shearman matched.

Sweet necro, anon.

Lol.

[charliekelly33]

What the man has to say about NY to 190k: LOL!
http://www.americanlawyer.com/id=120274 ... 2615717726

You can tell AmLaw's intended audience is not the same as ATL's

[charliekelly33]

This is also interesting: http://www.nalp.org/1014research see Table 2 -- longest streak of stagnant salaries on record

[bowser]

WTF, they compare apples to oranges. The nominal median household income in 1995 was $34,076. People are such lazy fact-ignoring pieces of crap.

"Since 1995, when first-year associates in New York made $85,000, their salaries have almost doubled, according to the National Association for Law Placement. Meanwhile household income in the U.S. has barely budged in the past 20 years, when adjusted for inflation. In 1995, the median was $50,978, while in 2014 it was $53,657."

[First Offense]

WTF, they compare apples to oranges. The nominal median household income in 1995 was $34,076. People are such lazy fact-ignoring pieces of crap.

"Since 1995, when first-year associates in New York made $85,000, their salaries have almost doubled, according to the National Association for Law Placement. Meanwhile household income in the U.S. has barely budged in the past 20 years, when adjusted for inflation. In 1995, the median was $50,978, while in 2014 it was $53,657."

Way to move the goalposts there. Jesus that's awful.

Edit: Although Associate salaries were 132k adjusted for inflation, so it has still gone up pretty significantly. Although if the bonuses were higher then, that could easily cover the difference.

[Anonymous User]

Have heard that DPW will be shattering.

[anonnymouse]

Have heard that DPW will be shattering.

At first I scoffed because only Kirkland SHATTERS but then I realized that you meant DPW will be shattering (notice the difference) the hoaps and dreams of thousands of associates by matching Cravath.

[charliekelly33]

Have heard that DPW will be shattering.

I trust this anonymous post without qualification. NY to 190k confirmed.

[Big Shrimpin]

Have heard that DPW will be shattering.

At first I scoffed because only Kirkland SHATTERS but then I realized that you meant DPW will be shattering (notice the difference) the hoaps and dreams of thousands of associates by matching Cravath.

sounds right

[Anonymous User]

Have heard that DPW will be shattering.

DPW tends to announce on Wednesdays and the holiday party is today, stay tuned for SHATTER confirmation

[arklaw13]

It would be hilarious if DPW significantly undercuts Cravath's bonuses but goes to 190. Would be a nice windfall for associates at the few firms that already matched bonuses

[Cobretti]

WTF, they compare apples to oranges. The nominal median household income in 1995 was $34,076. People are such lazy fact-ignoring pieces of crap.

"Since 1995, when first-year associates in New York made $85,000, their salaries have almost doubled, according to the National Association for Law Placement. Meanwhile household income in the U.S. has barely budged in the past 20 years, when adjusted for inflation. In 1995, the median was $50,978, while in 2014 it was $53,657."

Embarrassing

[Greenandgold]

WTF, they compare apples to oranges. The nominal median household income in 1995 was $34,076. People are such lazy fact-ignoring pieces of crap.

"Since 1995, when first-year associates in New York made $85,000, their salaries have almost doubled, according to the National Association for Law Placement. Meanwhile household income in the U.S. has barely budged in the past 20 years, when adjusted for inflation. In 1995, the median was $50,978, while in 2014 it was $53,657."

Embarrassing

In case anyone is curious, $85,000 in 1995 is about the same as $132,000 in 2015. So it's an increase from $132,000 to $160,000 for first-year associates in New York, compared to a median income of $50,978 in 1995 moving to $53,657 in 2015.

Source: http://data.bls.gov/cgi-bin/cpicalc.pl? ... year2=2015

[cheaptilts]

I'm sure employers may not care about this, but isn't context important? Did the cost of completing a plumbing certificate course increase by a gazillion percent between 1985-2015, too?

[krads153]

WTF, they compare apples to oranges. The nominal median household income in 1995 was $34,076. People are such lazy fact-ignoring pieces of crap.

"Since 1995, when first-year associates in New York made $85,000, their salaries have almost doubled, according to the National Association for Law Placement. Meanwhile household income in the U.S. has barely budged in the past 20 years, when adjusted for inflation. In 1995, the median was $50,978, while in 2014 it was $53,657."

Embarrassing

In case anyone is curious, $85,000 in 1995 is about the same as $132,000 in 2015. So it's an increase from $132,000 to $160,000 for first-year associates in New York, compared to a median income of $50,978 in 1995 moving to $53,657 in 2015.

Source: http://data.bls.gov/cgi-bin/cpicalc.pl? ... year2=2015

Meanwhile COL and tuition have tripled or more....

whoever wrote that is really dumb though or intentionally misleading people

[Br3v]

I'm sure employers may not care about this, but isn't context important? Did the cost of completing a plumbing certificate course increase by a gazillion percent between 1985-2015, too?

Do you think this actually does make us per se worse candidates than in 1985? If the marginal benefit has reduced we might assume the quality candidates went elsewhere (IB), leaving us.


DF's reverse auction is real.

[Cobretti]

I'm sure employers may not care about this, but isn't context important? Did the cost of completing a plumbing certificate course increase by a gazillion percent between 1985-2015, too?

Do you think this actually does make us per se worse candidates than in 1985? If the marginal benefit has reduced we might assume the quality candidates went elsewhere (IB), leaving us.


DF's reverse auction is real.

Apps have been down for years now, we are biglaw's silver medals.

[PMan99]

Meanwhile Amlaw100 PPP was ~$515,000 in 1996 and is $1.55 million now.

[charliekelly33]

Meanwhile Amlaw100 PPP was ~$515,000 in 1996 and is $1.55 million now.

515k is 780k in today's dollars... but the associates are the ones being greedy.

[TLSModBot]

Meanwhile Amlaw100 PPP was ~$515,000 in 1996 and is $1.55 million now.

515k is 780k in today's dollars... but the associates are the ones being greedy.

dude just make equity partner what's the big deal. Very easily attainable in 7 10 15-ish years of hard work and luck and the right connections and being a white male wouldn't hurt while you're at it.

[Anonymous User]

I love when people post Amlaw PPP numbers like they are tethered to real partner comp. It's so quaint. Have fun in Corporations class, guys.