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

[Anonymous User]

Morgan Lewis matched.

[Anonymous User]

Morgan Lewis matched.

It was inevitable once Dechert matched. Which offices?

[Anonymous User]

Andrews Kurth matched

Is Dallas pretty solidly 180 across the board at this point?

Not Haynes and Boone, which has the biggest Dallas office of any firm by a significant margin. They'd better get their behinds in gear.

[Anonymous User]

Can we change the title to shame JD into matching? This is getting ridiculous.

I don't think JD really matched the market before this increase. Not sure why that would change now.

Not in total comp of course, but they basically do in base comp. Which, as an incoming associate, is what I care about at the moment. I, and I assume everyone else who accepted an offer from JD, knew what they were getting into in terms of getting forever nobonused. But I accepted that on the understanding that my base comp would at least still be market. It's just ridiculous that every firm I turned down, save maybe one at this point, has moved to 180.

I'm not sure JD even matches base comp after your first couple of years, at least not consistently. I honestly don't understand why someone who prioritizes market compensation would choose JD.

Wouldn't say it was a priority, but something I expected. Keep in mind I made my decision before bonuses were announced in fall 2014. Before 2014, they had been pretty shitty. Never planned on staying more than a couple years, so 25k over two years didn't seem like that big of a deal when weighed against how much I liked the firm vs. the other ones I had offers from that followed market bonuses. (I suppose I could have switched during 3L, but I didn't). But now the difference is up to 40k over 2 years just in base comp, plus whatever I lose out on bonuses. That's untenable to me.

Chill out yo. JD will match soon and unless you really suck you will make at minimum market base comp. Mark my words. They're just slow because they need to recalculate comp individually for like 1000 associates. I've accepted this fact and moved on with my life.

[kaysta]

god I love the savagery of this profession any more updates keep em coming

[Anonymous User]

Andrews Kurth matched

Is Dallas pretty solidly 180 across the board at this point?

Not Haynes and Boone, which has the biggest Dallas office of any firm by a significant margin. They'd better get their behinds in gear.

BB, V&E, AK, LL, Weil, GDC, Sidley have all matched.

HayBoo, JD, TK, and NRF have not.

[Anonymous User]

Can we change the title to shame JD into matching? This is getting ridiculous.

I don't think JD really matched the market before this increase. Not sure why that would change now.

Not in total comp of course, but they basically do in base comp. Which, as an incoming associate, is what I care about at the moment. I, and I assume everyone else who accepted an offer from JD, knew what they were getting into in terms of getting forever nobonused. But I accepted that on the understanding that my base comp would at least still be market. It's just ridiculous that every firm I turned down, save maybe one at this point, has moved to 180.

I'm not sure JD even matches base comp after your first couple of years, at least not consistently. I honestly don't understand why someone who prioritizes market compensation would choose JD.

Wouldn't say it was a priority, but something I expected. Keep in mind I made my decision before bonuses were announced in fall 2014. Before 2014, they had been pretty shitty. Never planned on staying more than a couple years, so 25k over two years didn't seem like that big of a deal when weighed against how much I liked the firm vs. the other ones I had offers from that followed market bonuses. (I suppose I could have switched during 3L, but I didn't). But now the difference is up to 40k over 2 years just in base comp, plus whatever I lose out on bonuses. That's untenable to me.

Chill out yo. JD will match soon and unless you really suck you will make at minimum market base comp. Mark my words. They're just slow because they need to recalculate comp individually for like 1000 associates. I've accepted this fact and moved on with my life.

Different Anon:

I agree that JD will match soon, but I still think that their lagging is bad form. How hard would it be to send a memo saying "we are raising salaries: first year to 180k, all associates more senior will be individually notified of their raise when they receive their comp memo at the end of the month."

Also, in Non-NYC, it's pretty typical for 4+ years to see base salary compression in addition to NOBONUS. That's one of the reasons that JD has struggled with midlevel retention more than other shops.

[Anonymous User]

Where's the anon who promised WilmerHale today?

Yeah, what is going on with this? With the exception of WachTTTel and Williams and ConnollTTTY (both of which are non-traditional comp models), they're easily the most prominent firm not to have matched. Moreover, all of their main rivals in DC and Boston have matched. Guess those clouds in the DC lobby really are as expensive as they say....

[Anonymous User]

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

what did they say? I'm assuming SA at the retreat?

At the retreat, they (Rothman and Jaspan) indicated that the raises happened right after their last management committee meeting, so there's no decision yet. They mentioned the next meeting isn't until near the end of the month. They stated their intent is to be competitive geographically, so likely good news for major markets and questionable news for other offices (which isn't a surprise by any means, given how the firm is organized; raising all secondaries to $180k would cost Foley a lot more than it would many other firms). Hopefully it still means something for those other offices, but we'll see.

that's kinda what i thought, and feared. I can see the rational with keeping non-major markets lower, but at the same time do they really want Milwaukee office to be 40k below Chicago when that's really who they're trying to pull people from (the people i know there didn't go b/c it was Milwaukee, it was b/c of the practice group. It conceivably wouldn't be too much to bump every office 20k though. Then they're not driving up Detroit, FL offices, Madison, etc to 180 when the market is between 100 and 120, maybe 145 in FL (even though one firm already went to 180 in detroit).

[LaLiLuLeLo]

My buddies at Pillsbury are gettin antsy. Official HQ in NY, unofficial HQ in SF. Tho that PPP aint too great.

[Anonymous User]

How did Morgan Lewis announce?

Any mention of Summers?

[Anonymous User]

Can we change the title to shame JD into matching? This is getting ridiculous.

I don't think JD really matched the market before this increase. Not sure why that would change now.

Not in total comp of course, but they basically do in base comp. Which, as an incoming associate, is what I care about at the moment. I, and I assume everyone else who accepted an offer from JD, knew what they were getting into in terms of getting forever nobonused. But I accepted that on the understanding that my base comp would at least still be market. It's just ridiculous that every firm I turned down, save maybe one at this point, has moved to 180.

I'm not sure JD even matches base comp after your first couple of years, at least not consistently. I honestly don't understand why someone who prioritizes market compensation would choose JD.

Wouldn't say it was a priority, but something I expected. Keep in mind I made my decision before bonuses were announced in fall 2014. Before 2014, they had been pretty shitty. Never planned on staying more than a couple years, so 25k over two years didn't seem like that big of a deal when weighed against how much I liked the firm vs. the other ones I had offers from that followed market bonuses. (I suppose I could have switched during 3L, but I didn't). But now the difference is up to 40k over 2 years just in base comp, plus whatever I lose out on bonuses. That's untenable to me.

Chill out yo. JD will match soon and unless you really suck you will make at minimum market base comp. Mark my words. They're just slow because they need to recalculate comp individually for like 1000 associates. I've accepted this fact and moved on with my life.

Different Anon:

I agree that JD will match soon, but I still think that their lagging is bad form. How hard would it be to send a memo saying "we are raising salaries: first year to 180k, all associates more senior will be individually notified of their raise when they receive their comp memo at the end of the month."

Also, in Non-NYC, it's pretty typical for 4+ years to see base salary compression in addition to NOBONUS. That's one of the reasons that JD has struggled with midlevel retention more than other shops.

Earlier anon: Yeah, I agree. But that's asking a little too much from JD. We are not known for transparency. Remember when we found out about Trump through ATL? At least we're consistent. Ha.

[Big Shrimpin]

Where does Andrews Kurth fall in amlaw/ppp/etc?

[Anonymous User]

How did Morgan Lewis announce?

Any mention of Summers?

Voicemail. Don't recall any mention of summers but frankly I barely listened after I figured out what was going on for me.

[Big Shrimpin]

How did Morgan Lewis announce?

Any mention of Summers?

Voicemail. Don't recall any mention of summers but frankly I barely listened after I figured out what was going on for me.

VM? Lolz

[Anonymous User]

How did Morgan Lewis announce?

Any mention of Summers?

Voicemail. Don't recall any mention of summers but frankly I barely listened after I figured out what was going on for me.

VM? Lolz

Yeah. Basically all announcements come via voicemail from the chair.

[Actus Reus]

How did Morgan Lewis announce?

Any mention of Summers?

Voicemail. Don't recall any mention of summers but frankly I barely listened after I figured out what was going on for me.

VM? Lolz

Yeah. Basically all announcements come via voicemail from the chair.

This is the most boomer thing in this thread.

Did you have to press *4 in order to accept the raise?

[Anonymous User]

anyone hear anything about greenberg traurig?

Seems like they are keeping quiet for now. Probably waiting it out as long as possible.

They were one of the earlier movers back in '07

So was Fish. Not this time apparently (or its memo just hasn't been leaked?)

I have it on good authority (equity partner) that there will be no raise.

[Anonymous User]

anyone hear anything about greenberg traurig?

Seems like they are keeping quiet for now. Probably waiting it out as long as possible.

They were one of the earlier movers back in '07

So was Fish. Not this time apparently (or its memo just hasn't been leaked?)

I have it on good authority (equity partner) that there will be no raise.

GT or Fish? Also, trolling?

[First Offense]

Hasn't GT turned super cheapo lately?

[BigZuck]

I just don't like BigZuck, not really trying to make an actual argument.

What are your thoughts on Brogan though?

Seems like a pretty chill dude

[Anonymous User]

anyone hear anything about greenberg traurig?

Seems like they are keeping quiet for now. Probably waiting it out as long as possible.

They were one of the earlier movers back in '07

So was Fish. Not this time apparently (or its memo just hasn't been leaked?)

I have it on good authority (equity partner) that there will be no raise.

GT or Fish? Also, trolling?

Plz not GT...

[Anonymous User]

anyone hear anything about greenberg traurig?

Seems like they are keeping quiet for now. Probably waiting it out as long as possible.

They were one of the earlier movers back in '07

So was Fish. Not this time apparently (or its memo just hasn't been leaked?)

I have it on good authority (equity partner) that there will be no raise.

GT or Fish? Also, trolling?

Fish, no troll.

[Anonymous User]

Where's the anon who promised WilmerHale today?

Yeah, what is going on with this? With the exception of WachTTTel and Williams and ConnollTTTY (both of which are non-traditional comp models), they're easily the most prominent firm not to have matched. Moreover, all of their main rivals in DC and Boston have matched. Guess those clouds in the DC lobby really are as expensive as they say....

Idk man someone on here says vaguely that they're announcing yesterday, then says oops never mind they meet TUESDAY (GOOD GOD ARE YOU SERIOUS JUST HAVE AN AD HOC MEETING), then someone else says nope today's the day. Jerkin me around like a Covington DC associate.

[Anonymous User]

Looking for K&S or A&B to make a move. All of the firm's with larger Atlanta offices are in a holding pattern.

Would love to see market get moved from $135 to $155. Nobody I know expects the Atlanta office to match, but lots want to firms to at least reduce salary compression.