NYC to 180k Forum

(On Campus Interviews, Summer Associate positions, Firm Reviews, Tips, ...)
Forum rules
Anonymous Posting

Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.

Failure to follow these rules will get you outed, warned, or banned.
Anonymous User
Posts: 428123
Joined: Tue Aug 11, 2009 9:32 am

NYC to 180k

Post by Anonymous User » Tue Apr 03, 2012 9:58 am

i heard from a number of important ppl that nyc market is going to 180k. any truth behind that?

Renzo

Gold
Posts: 4249
Joined: Tue Dec 02, 2008 3:23 am

Re: NYC to 180k

Post by Renzo » Tue Apr 03, 2012 10:15 am

Saddest attempted flame ever.

005618502

Gold
Posts: 2577
Joined: Thu May 06, 2010 10:56 pm

Re: NYC to 180k

Post by 005618502 » Tue Apr 03, 2012 10:49 am

Weren't you suupposed to post this 2 days ago bro?

User avatar
Big Shrimpin

Gold
Posts: 2470
Joined: Fri Oct 24, 2008 12:35 pm

Re: NYC to 180k

Post by Big Shrimpin » Tue Apr 03, 2012 11:19 am

OUT DAT OP FLAME

User avatar
thesealocust

Platinum
Posts: 8525
Joined: Mon Oct 20, 2008 8:50 pm

Re: NYC to 180k

Post by thesealocust » Tue Apr 03, 2012 11:22 am

It's not totally implausible. Once the market started heating up (more accurately: de-thawed?) I know a lot of firms ran into retention problems, which as best as I can tell was the root of NYC to 160 back in the day.

Want to continue reading?

Register now to search topics and post comments!

Absolutely FREE!


User avatar
top30man

Silver
Posts: 1224
Joined: Wed Sep 14, 2011 9:11 pm

Re: NYC to 180k

Post by top30man » Tue Apr 03, 2012 11:22 am

Big Shrimpin wrote:OUT DAT OP FLAME

drbarry987

Bronze
Posts: 163
Joined: Mon Mar 07, 2011 9:25 pm

Re: NYC to 180k

Post by drbarry987 » Tue Apr 03, 2012 11:23 am

I heard "from a number of important people" that NYC market is going to 160k + free CrossFit and Chipotle

User avatar
DrGuano

Bronze
Posts: 192
Joined: Thu Dec 17, 2009 1:13 pm

Re: NYC to 180k

Post by DrGuano » Tue Apr 03, 2012 11:53 am

drbarry987 wrote:I heard "from a number of important people" that NYC market is going to 160k + free CrossFit and Chipotle
That definitely amounts to 20K annually. Basically the same thing. I'm down.

xcountryjunkie

Bronze
Posts: 437
Joined: Tue Dec 01, 2009 7:52 pm

Re: NYC to 180k

Post by xcountryjunkie » Tue Apr 03, 2012 11:57 am

thesealocust wrote:It's not totally implausible. Once the market started heating up (more accurately: de-thawed?) I know a lot of firms ran into retention problems, which as best as I can tell was the root of NYC to 160 back in the day.
If the retention problem is not serious enough to warrant spring bonuses, it is not serious enough to warrant a base salary increase. A base salary increase isn't going to happen in the foreseeable future.

Want to continue reading?

Register for access!

Did I mention it was FREE ?


User avatar
Old Gregg

Platinum
Posts: 5409
Joined: Thu Sep 01, 2011 1:26 pm

Re: NYC to 180k

Post by Old Gregg » Tue Apr 03, 2012 7:19 pm

Not happening. And the retention problem alluded to above impacted midlevels, whose bonuses have been adjusted accordingly. No one cares about first years.


User avatar
MrPapagiorgio

Gold
Posts: 1740
Joined: Sat Feb 13, 2010 2:36 am

Re: NYC to 180k

Post by MrPapagiorgio » Mon Apr 16, 2012 6:09 pm

Must be true then.
/sarcasm

User avatar
Doritos

Silver
Posts: 1214
Joined: Tue Nov 24, 2009 8:24 pm

Re: NYC to 180k

Post by Doritos » Mon Apr 16, 2012 6:11 pm

Niiiiiiccceeee....

The real question is do the other big firms care? The article mentioned how Cravath and friends have been getting beat this year in bonus payouts so we will see if they view these turn of events as real challenges to their prestige dominance...

Register now!

Resources to assist law school applicants, students & graduates.

It's still FREE!


User avatar
FlightoftheEarls

Silver
Posts: 859
Joined: Fri Dec 19, 2008 5:50 pm

Re: NYC to 180k

Post by FlightoftheEarls » Mon Apr 16, 2012 6:13 pm

That's pretty interesting. The website says there are only 12 associates and law clerks total, so it's unlikely the major firms will follow. But anything is possible.

User avatar
NinerFan

Bronze
Posts: 482
Joined: Thu Sep 01, 2011 1:51 pm

Re: NYC to 180k

Post by NinerFan » Mon Apr 16, 2012 6:14 pm

MrPapagiorgio wrote:
Must be true then.
/sarcasm
It's certainly true for that one firm.

gulcregret

Bronze
Posts: 115
Joined: Mon Aug 30, 2010 11:08 pm

Re: NYC to 180k

Post by gulcregret » Mon Apr 16, 2012 6:28 pm

DC to 180k happened a few years ago with a really super prestigious firm and no one followed. I think...

User avatar
Cavalier

Gold
Posts: 1994
Joined: Mon Apr 13, 2009 6:13 pm

Re: NYC to 180k

Post by Cavalier » Mon Apr 16, 2012 6:46 pm

gulcregret wrote:DC to 180k happened a few years ago with a really super prestigious firm and no one followed. I think...
Williams & Connolly doesn't pay bonuses. Pre-ITE I think associates at other DC firms were a little better off, but now W&C associates do better. Plus they make $3450/week over the summer.

Get unlimited access to all forums and topics

Register now!

I'm pretty sure I told you it's FREE...


rad lulz

Platinum
Posts: 9807
Joined: Sun Feb 19, 2012 10:53 pm

Re: NYC to 180k

Post by rad lulz » Mon Apr 16, 2012 6:48 pm

I love emergent memes.

NY TO 180!!!

xcountryjunkie

Bronze
Posts: 437
Joined: Tue Dec 01, 2009 7:52 pm

Re: NYC to 180k

Post by xcountryjunkie » Mon Apr 16, 2012 7:51 pm

I'd love for NYC to actually hit 180K since I'll be an SA there this summer, but I'm just not seeing it (yet). Most firms raised salaries in the early 2000s from 120 to 130 to 145 to 160 because they wanted the top associates and didn't want to get left behind by the market. I don't see how a firm with 11 associates makes any of the big firms cave. Desmarais just isn't a threat to steal enough of the top associates for it to matter.

Caveat: while I don't think any big firms will follow, I think if any one of the major firms does, almost everyone will follow.

User avatar
IAFG

Platinum
Posts: 6641
Joined: Mon Jun 15, 2009 1:26 pm

Re: NYC to 180k

Post by IAFG » Mon Apr 16, 2012 7:58 pm

xcountryjunkie wrote:
thesealocust wrote:It's not totally implausible. Once the market started heating up (more accurately: de-thawed?) I know a lot of firms ran into retention problems, which as best as I can tell was the root of NYC to 160 back in the day.
If the retention problem is not serious enough to warrant spring bonuses, it is not serious enough to warrant a base salary increase. A base salary increase isn't going to happen in the foreseeable future.
Agree with this. Anemic bonuses but then higher bases? Prolly not. Edit: also, I don't get the whole "retention problem" thing. Everyone pays say same base and same bonus, where are people going??

User avatar
FlightoftheEarls

Silver
Posts: 859
Joined: Fri Dec 19, 2008 5:50 pm

Re: NYC to 180k

Post by FlightoftheEarls » Mon Apr 16, 2012 8:08 pm

thesealocust wrote:It's not totally implausible. Once the market started heating up (more accurately: de-thawed?) I know a lot of firms ran into retention problems, which as best as I can tell was the root of NYC to 160 back in the day.
The increase in salaries may have begun when the market was de-thawing, but the final 160k figure seems to have come at the very height of the heyday.
http://abovethelaw.com/2007/01/breaking ... -salaries/

Communicate now with those who not only know what a legal education is, but can offer you worthy advice and commentary as you complete the three most educational, yet challenging years of your law related post graduate life.

Register now, it's still FREE!


concurrent fork

Silver
Posts: 669
Joined: Sun Mar 21, 2010 9:40 am

Re: NYC to 180k

Post by concurrent fork » Mon Apr 16, 2012 8:12 pm

Questionable reporting by ATL on this one. I really doubt the big firms see any retention threat from an IP boutique moving to 180K. I also fail to see how this will "trickle down through recruiting" since 99% of law students don't have an EE degree.

I'm hopeful, but realistic.

User avatar
wiseowl

Silver
Posts: 1070
Joined: Thu Jul 03, 2008 4:38 pm

Re: NYC to 180k

Post by wiseowl » Mon Apr 16, 2012 8:30 pm

With due respect because the guy is a baller, Desmarais is now basically a patent troll for hire. He can diversify back I'm sure, but for now, not sure how sustainable that business model is.

r6_philly

Diamond
Posts: 10751
Joined: Sat Dec 19, 2009 4:32 pm

Re: NYC to 180k

Post by r6_philly » Mon Apr 16, 2012 8:52 pm

concurrent fork wrote:Questionable reporting by ATL on this one. I really doubt the big firms see any retention threat from an IP boutique moving to 180K. I also fail to see how this will "trickle down through recruiting" since 99% of law students don't have an EE degree.

I'm hopeful, but realistic.
So new IP associates to 180k? :mrgreen:

run26.2

Silver
Posts: 1027
Joined: Thu Jul 01, 2010 1:35 am

Re: NYC to 180k

Post by run26.2 » Mon Apr 16, 2012 9:02 pm

wiseowl wrote:With due respect because the guy is a baller, Desmarais is now basically a patent troll for hire. He can diversify back I'm sure, but for now, not sure how sustainable that business model is.
What do you mean by diversify back?

Seriously? What are you waiting for?

Now there's a charge.
Just kidding ... it's still FREE!


Post Reply Post Anonymous Reply  

Return to “Legal Employment”