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

[Single-Malt-Liquor]

Also, gtfo that JD intentionally waited to appease it's summers. Summers are a money hole for firms. The fact that these firms raised for summers is still insane to me.

Especially after the summer already started. Like, who's gonna quit their summer job two weeks in because they didn't get a raise?

I doubt they're worried about summers quitting, more like jumping ship during 3L. Once one firm raised for summers it kind of became a thing and comparatively speaking, its a drop in the bucket.

100 summers
Extra $380 a week for the last five weeks
$38K split between the partners.

They probably spent less time agonizing over it than it took me to write this post.

[goodxkarma]

3) New recruits are mostly STEM people from mid ranked schools that most other Biglaw firms have no interest in. HYS EE/CS superstars weren't going to Fish anyway, so this won't change much.

Wait, so where are you supposed to go if you top-level credentials but want to do patent?

High-ranked GP with a well-established IP practice, probably.

[UnicornHunter]

Also, gtfo that JD intentionally waited to appease it's summers. Summers are a money hole for firms. The fact that these firms raised for summers is still insane to me.

Especially after the summer already started. Like, who's gonna quit their summer job two weeks in because they didn't get a raise?

I doubt they're worried about summers quitting, more like jumping ship during 3L. Once one firm raised for summers it kind of became a thing and comparatively speaking, its a drop in the bucket.

100 summers
Extra $380 a week for the last five weeks
$38K split between the partners.

They probably spent less time agonizing over it than it took me to write this post.

It is funny that some firms made it an even $3500 and technically their summers are being paid more per week than their first years.

[Anonymous User]

3) New recruits are mostly STEM people from mid ranked schools that most other Biglaw firms have no interest in. HYS EE/CS superstars weren't going to Fish anyway, so this won't change much.

Wait, so where are you supposed to go if you top-level credentials but want to do patent?

High-ranked GP with a well-established IP practice, probably.

What if you, like, want take a depo or be involved in an IPR or learn how the patent office works?

[mushybrain]

Yeah but those sucker summers have to live off that all year and take the bar. I'm ok with it.

[mushybrain]

3) New recruits are mostly STEM people from mid ranked schools that most other Biglaw firms have no interest in. HYS EE/CS superstars weren't going to Fish anyway, so this won't change much.

Wait, so where are you supposed to go if you top-level credentials but want to do patent?

High-ranked GP with a well-established IP practice, probably.

What if you, like, want take a depo or be involved in an IPR or learn how the patent office works?

Take a vow of poverty.

[bern victim]

3) New recruits are mostly STEM people from mid ranked schools that most other Biglaw firms have no interest in. HYS EE/CS superstars weren't going to Fish anyway, so this won't change much.

Wait, so where are you supposed to go if you top-level credentials but want to do patent?

High-ranked GP with a well-established IP practice, probably.

What if you, like, want take a depo or be involved in an IPR or learn how the patent office works?

IP associates at GP firms do those things. i even do some small pros matters occasionally.

[Anonymous User]

3) New recruits are mostly STEM people from mid ranked schools that most other Biglaw firms have no interest in. HYS EE/CS superstars weren't going to Fish anyway, so this won't change much.

Wait, so where are you supposed to go if you top-level credentials but want to do patent?

High-ranked GP with a well-established IP practice, probably.

What if you, like, want take a depo or be involved in an IPR or learn how the patent office works?

(Fish equity partner)

[Anonymous User]

3) New recruits are mostly STEM people from mid ranked schools that most other Biglaw firms have no interest in. HYS EE/CS superstars weren't going to Fish anyway, so this won't change much.

Wait, so where are you supposed to go if you top-level credentials but want to do patent?

High-ranked GP with a well-established IP practice, probably.

What if you, like, want take a depo or be involved in an IPR or learn how the patent office works?

(Fish equity partner)

Not going to Fish, but did choose IP boutique over GP for exposure to meaningful work. Guess I'll get paid less as a result.

[DELG]

wow the seyfarth memo is aggressive. you can just silently not match instead of admitting your firm is going under.

Can't find it on ATL where is this

[lost129]

You all are correct, I'm speaking from a smaller market where typical non-IP starting salaries have stayed in the 135k range.

[Anonymous User]

Also, gtfo that JD intentionally waited to appease it's summers. Summers are a money hole for firms. The fact that these firms raised for summers is still insane to me.

Especially after the summer already started. Like, who's gonna quit their summer job two weeks in because they didn't get a raise?

I doubt they're worried about summers quitting, more like jumping ship during 3L. Once one firm raised for summers it kind of became a thing and comparatively speaking, its a drop in the bucket.

100 summers
Extra $380 a week for the last five weeks
$38K split between the partners.

They probably spent less time agonizing over it than it took me to write this post.

It is funny that some firms made it an even $3500 and technically their summers are being paid more per week than their first years.

I had also been wondering about that.

[camelcrema]

Also, gtfo that JD intentionally waited to appease it's summers. Summers are a money hole for firms. The fact that these firms raised for summers is still insane to me.

Especially after the summer already started. Like, who's gonna quit their summer job two weeks in because they didn't get a raise?

I doubt they're worried about summers quitting, more like jumping ship during 3L. Once one firm raised for summers it kind of became a thing and comparatively speaking, its a drop in the bucket.

100 summers
Extra $380 a week for the last five weeks
$38K split between the partners.

They probably spent less time agonizing over it than it took me to write this post.

It is funny that some firms made it an even $3500 and technically their summers are being paid more per week than their first years.

I had also been wondering about that.

Wasn't this also the case at 160? First years made $3077 and some firms rounded up to an even $3100 for summers.

[Anonymous User]

I think this is all a political move by Cravath. Cravath can afford $190k, but they know that a lot of other firms would try to follow suit at $180k (and to do so would need to do things like take a partnership vote).

In the next couple years, Cravath, or a player at that level, will bump it to $190k, knowing that:
1) some firms won't be able to afford to do so; and
2) some firms that could possibly make it work financially will choose not to because some of the older partners will push back harder against the raise to $190k with the argument that "we just gave all those brat associates raises last year."

That's my conspiracy theory.

[Anonymous User]

Also, gtfo that JD intentionally waited to appease it's summers. Summers are a money hole for firms. The fact that these firms raised for summers is still insane to me.

Especially after the summer already started. Like, who's gonna quit their summer job two weeks in because they didn't get a raise?

I doubt they're worried about summers quitting, more like jumping ship during 3L. Once one firm raised for summers it kind of became a thing and comparatively speaking, its a drop in the bucket.

100 summers
Extra $380 a week for the last five weeks
$38K split between the partners.

They probably spent less time agonizing over it than it took me to write this post.

It is funny that some firms made it an even $3500 and technically their summers are being paid more per week than their first years.

I had also been wondering about that.

Wasn't this also the case at 160? First years made $3077 and some firms rounded up to an even $3100 for summers.

I thought $3,080 was the extent of the rounding. I felt pretty good about my $3. Didn't know some bros had $23.

[jkpolk]

we got lowballed - they'll be another bump soon

[smaug]

lmao

[Bumi]

Why is ATL treating above-market comp firms as though they are behind Cravath? Keeping W&C on these lists is misleading.

[Single-Malt-Liquor]

We're going to $200,000 people.

[smaug]

Why is ATL treating above-market comp firms as though they are behind Cravath? Keeping W&C on these lists is misleading.

Is it though?

What's all in comp at W&C theses days?

[MCFC]

wow the seyfarth memo is aggressive. you can just silently not match instead of admitting your firm is going under.

Can't find it on ATL where is this

http://abovethelaw.com/2016/06/one-firm ... e-thing/2/

[Bumi]

Why is ATL treating above-market comp firms as though they are behind Cravath? Keeping W&C on these lists is misleading.

Is it though?

What's all in comp at W&C theses days?

$200K for first years base. Also, nevermind, ATL took them off the regional list. That's Muphry's law for you.

[JenDarby]

wow the seyfarth memo is aggressive. you can just silently not match instead of admitting your firm is going under.

Can't find it on ATL where is this

http://abovethelaw.com/2016/06/one-firm ... ise-thing/

edit: MCFC beat me to it

[smaug]

Why is ATL treating above-market comp firms as though they are behind Cravath? Keeping W&C on these lists is misleading.

Is it though?

What's all in comp at W&C theses days?

$200K for first years base. Also, nevermind, ATL took them off the regional list. That's Muphry's law for you.

With no bonus, right?

"Above market" is a bit of a stretch. Differently structured comp but let's not make them out to be way better than the pack

[Monochromatic Oeuvre]

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.

I'm the vague anon from before. Management committee held an ad hoc meeting on Tuesday of this week, which is why everyone expected an announcement on Tuesday. Partners have their regularly scheduled meeting next Tuesday, which may be the cause of the delay. Bob and Susan are both in the DC office today to talk to SA. Otherwise I know nothing.

Oh thank goodness. Some SA will surely risk his/her offer by being a little too openly upset by the delay and we'll finally know more. That makes sense I guess but seems weird. Maybe they tabled it because some people want to discuss whether to match everywhere (i.e. whether to include Denver and the West Coast offices).

"We found the money for the raise. Say hello to 180 and goodbye to Kyle."