NY to 200k?! Forum

[Bear2019]

I want to hear some hot takes on who WON'T match.

Also, inb4 endless hysterics over firms that are clearly going to match taking a long time to announce.

I wouldn’t be surprised if the DC firms don’t match, with the exception of Akin.

[Monochromatic Oeuvre]

I want to hear some hot takes on who WON'T match.

Also, inb4 endless hysterics over firms that are clearly going to match taking a long time to announce.

The Sisters of St. Margaret Convent down on Fulton are gonna have a hard time matching. Profits were stagnant last year. Heavily concentrated in a dying practice area.

[ExpOriental]

I want to hear some hot takes on who WON'T match.

Also, inb4 endless hysterics over firms that are clearly going to match taking a long time to announce.

I wouldn’t be surprised if the DC firms don’t match, with the exception of Akin.

I'd be surprised if they don't, with possible exceptions of A&P and Hogan.

I also expect them to take their sweet time, and for Covington to whine about it.

[Anonymous User]

I would rather make 270k and live in nyc then make 300k and live in Kentucky. Think that’s probably true for most people

This is crazy wrong.

[Sackboy]

I would rather make 270k and live in nyc then make 300k and live in Kentucky. Think that’s probably true for most people

It might be true for most people, but there is also a significant minority that would take this arrangement in a heartbeat. I certainly would.

[KM2016]

I would rather make 270k and live in nyc then make 300k and live in Kentucky. Think that’s probably true for most people

This is crazy wrong.

John Calipari has entered the chat.

[Anonymous User]

I would rather make 270k and live in nyc then make 300k and live in Kentucky. Think that’s probably true for most people

This is crazy wrong.

I sincerely don't know how you could spend 300k a year salary even in urban Kentucky, except for maybe buying a huge house you don't need.

Also, having worked in NYC, it was always obvious that it didn't make sense associates in other markets got the same pay. Now that've lateraled away form NYC, it's pretty obvious to me that the only just and fair thing is that we all get the same pay.

[Anonymous User]

I sincerely don't know how you could spend 300k a year salary even in urban Kentucky, except for maybe buying a huge house you don't need.

You are not spending it. You are saving it. And you can get a "house" with a "kitchen," a "home office," and a "yard." That way your "family" has a decent place to stay instead of being crammed into an exorbitant and comparatively tiny apartment with basically no visibility of the natural world at all.

Also, NYC is just generally terrible and sucks ass.

[Anonymous User]

I sincerely don't know how you could spend 300k a year salary even in urban Kentucky, except for maybe buying a huge house you don't need.

Also, having worked in NYC, it was always obvious that it didn't make sense associates in other markets got the same pay. Now that've lateraled away form NYC, it's pretty obvious to me that the only just and fair thing is that we all get the same pay.

I don't think most people are spending their entire biglaw salary. I want more money so I can save faster and leave this lifestyle forever. Comp should be tied to billable rates and hours billed.

[Anonymous User]

I would rather make 270k and live in nyc then make 300k and live in Kentucky. Think that’s probably true for most people

This is crazy wrong.

Not only is it crazy wrong but it ignores that there are tons of other extremely popular cities you can do this in -- Nashville, Tampa, Charlotte, etc.

Go on, tell us how you couldn't possibly live in a place where you don't have Gramercy Tavern, Broadway, and Montessori schools.

[ExpOriental]

I'm hearing McDermott matched, but can't confirm.

For reference:

24th in gross revenue (up 18% in 2020)

37th in PPEP (up 26% in 2020)

Not a surprising match, looking at those numbers.

Also, can this thread please, please not devolve into the 500th city mouse vs. country mouse flame war? It's beyond tedious, and none of you have anything new or interesting to say about it. It should be banworthy at this point. At least, people should be outed for anon abuse so I can know to make fun of them in the future.

[Monochromatic Oeuvre]

Oh cool, TLS's very first argument about what places to live are better!

[FedFan123]

I would rather make 270k and live in nyc then make 300k and live in Kentucky. Think that’s probably true for most people

This is crazy wrong.

You’re telling me what (i) I would rather choose and (II) I think is crazy wrong? You’re not very bright.

Who the hell would want to live in Kentucky? How many bales of bluegrass can I own?

[Anonymous User]

I would rather make 270k and live in nyc then make 300k and live in Kentucky. Think that’s probably true for most people

This is crazy wrong.

Not only is it crazy wrong but it ignores that there are tons of other extremely popular cities you can do this in -- Nashville, Tampa, Charlotte, etc.

Go on, tell us how you couldn't possibly live in a place where you don't have Gramercy Tavern, Broadway, and Montessori schools.

Nashville, Tampa, and Charlotte aren't as cheap as you think they are. Also, comparing those cities to Kentucky is a joke, they aren't even comparable.

[Anonymous User]

Oh cool, TLS's very first argument about what places to live are better!

In fairness, it started as a thought about how firms could prosper without matching (and then possibly raising hours for bonuses).

[dwil770]

I would rather make 270k and live in nyc then make 300k and live in Kentucky. Think that’s probably true for most people

This is crazy wrong.

You’re telling me what (i) I would rather choose and (II) I think is crazy wrong? You’re not very bright.

Who the hell would want to live in Kentucky? How many bales of bluegrass can I own?

He probably thinks you're crazy wrong for thinking most people would rather live in NYC for less money than live in Kentucky. That's probably true for most people around you, but unlikely to be true across all people. Probably closer to being true among lawyers, which frankly is sort of damning.

[Anonymous User]

I'm hearing McDermott matched, but can't confirm.

For reference:

24th in gross revenue (up 18% in 2020)

37th in PPEP (up 26% in 2020)

Not a surprising match, looking at those numbers.

Also, can this thread please, please not devolve into the 500th city mouse vs. country mouse flame war? It's beyond tedious, and none of you have anything new or interesting to say about it. It should be banworthy at this point. At least, people should be outed for anon abuse so I can know to make fun of them in the future.

Sorry I'm working opposite an acquaintance from UG who is a NYC truther and waiting for his ass to release signatures for 5 hrs now, needed an outlet for my frustration.

Everyone in the v20 or so is going to match, there will be a few randoms in the v30 and v40 who predictably don't. Just going to take a week or few for everyone to catch up.

[Anonymous User]

I'm hearing McDermott matched, but can't confirm.

For reference:

24th in gross revenue (up 18% in 2020)

37th in PPEP (up 26% in 2020)

Not a surprising match, looking at those numbers.

Also, can this thread please, please not devolve into the 500th city mouse vs. country mouse flame war? It's beyond tedious, and none of you have anything new or interesting to say about it. It should be banworthy at this point. At least, people should be outed for anon abuse so I can know to make fun of them in the future.

https://abovethelaw.com/2021/06/we-have ... ion-scale/

[Lesion of Doom]

I would rather make 270k and live in nyc then make 300k and live in Kentucky. Think that’s probably true for most people

This is crazy wrong.

You’re telling me what (i) I would rather choose and (II) I think is crazy wrong? You’re not very bright.

Who the hell would want to live in Kentucky? How many bales of bluegrass can I own?

He probably thinks you're crazy wrong for thinking most people would rather live in NYC for less money than live in Kentucky. That's probably true for most people around you, but unlikely to be true across all people. Probably closer to being true among lawyers, which frankly is sort of damning.

The Kentucky thing was just for illustration. And Charlotte is more expensive than Kentucky, but you get a whole lot more house for 800k in Charlotte than you do in NYC. Goes without saying but take a look at Zillow and you see how dramatic the difference is. NYC associates are *that* close to being much wealthier in real terms.

[ExpOriental]

I'm hearing McDermott matched, but can't confirm.

For reference:

24th in gross revenue (up 18% in 2020)

37th in PPEP (up 26% in 2020)

Not a surprising match, looking at those numbers.

Also, can this thread please, please not devolve into the 500th city mouse vs. country mouse flame war? It's beyond tedious, and none of you have anything new or interesting to say about it. It should be banworthy at this point. At least, people should be outed for anon abuse so I can know to make fun of them in the future.

Sorry I'm working opposite an acquaintance from UG who is a NYC truther and waiting for his ass to release signatures for 5 hrs now, needed an outlet for my frustration.

Everyone in the v20 or so is going to match, there will be a few randoms in the v30 and v40 who predictably don't. Just going to take a week or few for everyone to catch up.

V20 notably includes Jones Day and Williams & Connolly, who are very much open questions as to whether they'll match, and what form their "match" will take considering they're already off market.

Likewise, you'll see firms that are basically guaranteed to match (Fenwick, Schulte) down in the 70s and 80s.

I think Vault, as per usual, will only have a loose correlation here; at least, I think financials (particularly PPEP and growth) are going to be a lot more probative.

[NYto200K]

I have to ask.

How is it that McDermott can match in a matter of hours but my v10 which always matches takes weeks to do so? Is it being afraid of being outmatched, as if they cannot just raise again? They would be able to afford it, and does anyone really take a reputational hit for matching twice if needed to stay at the top. I doubt. I'm glad my firm will match. It just pisses me off that it always takes them so long. I won't be surprised when the usual happens: associates from this specific firm begin complaining here about the glacial pace, some even doubting if they will match. They always do, but they delay at what cost.

[Anonymous User]

If DPW matches the Milbank McDermitt scale, I will be disappointed.

[tlsguy2020]

Don't firms bill out associates in mid-market offices at lower rates than NYC? How does a firm like Cooley or Gibson or something market and bill an NYC associate that lives in Kentucky vs. a Denver associate that lives in Idaho?

[Anonymous User]

Confirmed that MWE matched. They also recently announced a permanent 3-day in-person/2-day remote WFH policy (with in-person less often if your partners don’t care) starting this September. Their growth and PPP last year were gangbusters.

[Anonymous User]

Cadwalader match. Raises starting July 1