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

[Anonymous User]

Here's hoping Morgan Lewis matches in all offices, which would mean they are paying 180k in their Pittsburgh office too. And then forcing the hand of K&L, Reed Smith, Jones Day. One can dream!

lol

This statement is ridiculous for more than one reason. First, the highest paying firm is Reed Smith at $145k, which they just upped like last year. Second, ML's Pittsburgh office is small, which would not warrant an increase in salary. Third, Pittsburgh is a TTT city with one of the lowest COL. IMO, the associates at biglaw satellite offices there are overpaid as it is.

I thought JD paid the most in Pittsburgh at $145, then it was K&L at $135, then ReedSmith at $125. That may have changed since I was looking at Pittsburgh firms though. Either way, yeah it's completely ridiculous to expect those firms to pay that much. Either they're smaller offices (ML and JD) or they're firms that are really struggling and have low PPP and PPL (RS and KL). The top kids from Pitt/Duquesne and T14 grads with ties looking to get back are already filling their summer classes. They don't need to raise salaries much, especially not to 180.

[trbrny]

I think now that our important work has been substantially accomplished, we need to regroup, refocus and rename this thread - "NY to 190k - the Dream Never Dies". We need to start laying the groundwork for next year's moves, ala the quick bump from 145k to 160k!

[Single-Malt-Liquor]

Anyone at firms that have already matched-- what was it like? Were there faint cheers down the hallway, or just business as usual?

Business as usual at FF. However, they're currently building a cage around our office building in NY, so I think people were happy that they weren't just going to padlock us in.

FF to 360 degree cage match!

[El Pollito]

when is it cool to start whining about being underpaid again? 2 years?

[Single-Malt-Liquor]

when is it cool to start whining about being underpaid again? 2 years?

Naaa, you gotta start laying the groundwork down now. This raise is shit, it's only 235% of what we deserve!

[PennBull]

when is it cool to start whining about being underpaid again? 2 years?

in January when we all get NOBONUS

[Anonymous User]

when is it cool to start whining about being underpaid again? 2 years?

As soon as the glamour of these raises wears off. So like 2 pay cycles, maybe just 1. July 4th is a nice round date to start again.

[Anonymous User]

when is it cool to start whining about being underpaid again? 2 years?

As soon as the glamour of these raises wears off. So like 2 pay cycles, maybe just 1. July 4th is a nice round date to start again.

Forgot that's only 3 days into the raises taking effect...maybe push it back some.

[Anonymous User]

Very smart move for Dechert Philly to jump to 180 pre recruitment/bidding. This should certainly force MLB to bump to 180. I doubt any other Philly firms will match right away. Perhaps a smaller bump to 165/170, but no rush on that.

[Anonymous User]

I think now that our important work has been substantially accomplished, we need to regroup, refocus and rename this thread - "NY to 190k - the Dream Never Dies". We need to start laying the groundwork for next year's moves, ala the quick bump from 145k to 160k!

Seeing as how my firm has not raised yet, FML, but yeah it's time to keep the train rolling and it's our own fault if we're left at the station

[Abbie Doobie]

when is it cool to start whining about being underpaid again? 2 years?

i think the mantra goes "as soon as you get your pay raise you start looking for your next pay raise"

[Monochromatic Oeuvre]

when is it cool to start whining about being underpaid again? 2 years?

The very next time you look at your loan balance.

[Anonymous User]

Can confirm Orrick. Starting July 1 including summers.

What caused the delay in announcing?

[Anonymous User]

Anyone know whether Seward & Kissel will match?

Are they vault? Cannot seem to find their PPP anywhere.

found an article stating their PPP for 2005 was $1.48M. Not sure what it is now though. Does that mean it went significantly down?

If that article is true, and you can safely assume it has gone up since then, then they have some serious explaining to do.

[Anonymous User]

Here's hoping Morgan Lewis matches in all offices, which would mean they are paying 180k in their Pittsburgh office too. And then forcing the hand of K&L, Reed Smith, Jones Day. One can dream!

lol

This statement is ridiculous for more than one reason. First, the highest paying firm is Reed Smith at $145k, which they just upped like last year. Second, ML's Pittsburgh office is small, which would not warrant an increase in salary. Third, Pittsburgh is a TTT city with one of the lowest COL. IMO, the associates at biglaw satellite offices there are overpaid as it is.

You sound like a New Yorker that is butthurt over spending 3k a month on an apartment while we in secondary markets live in mansions. Also, all of those firms already pay 145k in Pittsburgh.

I'll be floored if any firm in Pittsburgh finds it necessary to compete with the recent salary bump. You're probably correct; most of the larger satellite offices offer $145 starting, but that move was pretty recent.

I thought JD paid the most in Pittsburgh at $145, then it was K&L at $135, then ReedSmith at $125. That may have changed since I was looking at Pittsburgh firms though. Either way, yeah it's completely ridiculous to expect those firms to pay that much. Either they're smaller offices (ML and JD) or they're firms that are really struggling and have low PPP and PPL (RS and KL). The top kids from Pitt/Duquesne and T14 grads with ties looking to get back are already filling their summer classes. They don't need to raise salaries much, especially not to 180.

I went to school in Pittsburgh so I know exactly how those offices operate and what they're offering. As the poster above mentioned, most biglaw firms with offices there are offering $145. That includes JD and K&L. I'll tell you right now that those offices are highly competitive because the COL is so low and the pay isn't really that bad (no NYC bonus tho). In fact, many of those firms, who once had strong ties to Pitt/Duq, are foregoing those schools and recruiting elsewhere. Just take a look at the last couple years' summer classes at K&L, Reed Smith, Cohen, etc. Other firms, like MLB, Pepper Hamilton, and McGuire Woods don't even have summer programs or hire out of law school.

Basically, Pittsburgh associates won't see a pay raise to $160 for another couple of years because the firms feel no pressure to do so. They'll take NYC/DC/CHI leftovers or T14 grades with Pittsburgh pride until the well runs dry.

[2014]

I was at a firm retreat about 2 days after the firm matched. I was sitting at the dinner table with one of the long time partners who said that over the last couple of years it's become harder and harder to recruit new associates, and that our corporate office is below the number of associates that they'd like to have, and he was hoping the pay raise will make it easier to recruit. This is a v10 firm, if that matters at all

So, I wouldn't call the raise unjustified from that perspective

Sure that's well and good, but the reason isn't salary it's the lower enrollment in law schools which has bled into the schools that your firm prefers to hire from. No firm is struggling to put bodies in seats, they are struggling to put Top [X]% bodies from Schools A, B, and C and all of those variables are in their control before salaries come into play.

For salaries to remedy that partner's concern, the extra $20k needs to drive more people to apply to law school and cause good schools to increase class sizes. That very well may happen but it's tenuous at best to project it with any confidence.

[Anonymous User]

I was at a firm retreat about 2 days after the firm matched. I was sitting at the dinner table with one of the long time partners who said that over the last couple of years it's become harder and harder to recruit new associates, and that our corporate office is below the number of associates that they'd like to have, and he was hoping the pay raise will make it easier to recruit. This is a v10 firm, if that matters at all

So, I wouldn't call the raise unjustified from that perspective

Sure that's well and good, but the reason isn't salary it's the lower enrollment in law schools which has bled into the schools that your firm prefers to hire from. No firm is struggling to put bodies in seats, they are struggling to put Top [X]% bodies from Schools A, B, and C and all of those variables are in their control before salaries come into play.

For salaries to remedy that partner's concern, the extra $20k needs to drive more people to apply to law school and cause good schools to increase class sizes. That very well may happen but it's tenuous at best to project it with any confidence.

I would tend to agree; however, it is unclear whether the partner was discussing new graduates or laterals. If I'm not mistaken, the lateral market has gotten quite tight over the years.

[Single-Malt-Liquor]

I was at a firm retreat about 2 days after the firm matched. I was sitting at the dinner table with one of the long time partners who said that over the last couple of years it's become harder and harder to recruit new associates, and that our corporate office is below the number of associates that they'd like to have, and he was hoping the pay raise will make it easier to recruit. This is a v10 firm, if that matters at all

So, I wouldn't call the raise unjustified from that perspective

Sure that's well and good, but the reason isn't salary it's the lower enrollment in law schools which has bled into the schools that your firm prefers to hire from. No firm is struggling to put bodies in seats, they are struggling to put Top [X]% bodies from Schools A, B, and C and all of those variables are in their control before salaries come into play.

For salaries to remedy that partner's concern, the extra $20k needs to drive more people to apply to law school and cause good schools to increase class sizes. That very well may happen but it's tenuous at best to project it with any confidence.

I would tend to agree; however, it is unclear whether the partner was discussing new graduates or laterals. If I'm not mistaken, the lateral market has gotten quite tight over the years.

They kind of all screwed themselves in 2008-2010 on that one.

[Cicero76]

With Weil, Boies, Dla, and Mwe paying 180, W&C paying 175, Hogan and Baker above 160 and Locke Lorde paying 155 in Miami, then Gt, HK, Bilzin, Akerman and other Miami-based market-paying firms should raise, right? ... Right?!

Where did you get info re: W&C paying 175?

.

Could you PM me maybe if you know?

[Anonymous User]

So to recap, a Crowell and Moring Anchorage 2nd year now makes more than a Jones Day NY 3rd year?

[jbagelboy]

when is it cool to start whining about being underpaid again? 2 years?

Naaa, you gotta start laying the groundwork down now. This raise is shit, it's only 235% of what we deserve!

you're still underpaid by $10k right now. Whine away.
#NYto190
#whatisdeadmayneverdie

[Anonymous User]

Had practice group lunch scheduled. It was cancelled pending an important announcement and an accompanying meeting. Announcement finally came: new partner in our office. And the lunch was downgraded to appetizers. So now I have no raise and no lunch. THANKS

[Anonymous User]

Foley cockteased today. Probably no decision until after an end-of-the-month management committee meeting.

[bern victim]

Had practice group lunch scheduled. It was cancelled pending an important announcement and an accompanying meeting. Announcement finally came: new partner in our office. And the lunch was downgraded to appetizers. So now I have no raise and no lunch. THANKS

DESCRIBE the quantity of cheese cubes provided

[Anonymous User]

Had practice group lunch scheduled. It was cancelled pending an important announcement and an accompanying meeting. Announcement finally came: new partner in our office. And the lunch was downgraded to appetizers. So now I have no raise and no lunch. THANKS

DESCRIBE the quantity of cheese cubes provided

I'm boycotting but probably no greater than one plate. Described as LIGHT apps.