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

[Anonymous User]

Has Manatt matched yet?

They already don't pay market, so why would they match?

[LaLiLuLeLo]

ManaTTT went from $125k then to $150k recently. Why in the world would they go to $180k? They haven't paid market in years.

[imalreadyamember?]

Also anyone know anything about Polsinelli? Any chance they match??

I'm almost certain they don't pay market right? Are they at 160 in some offices? Man what's with all these people hoping they're about to get a $50k raise haha

[Anonymous User]

ManaTTT went from $125k then to $150k recently. Why in the world would they go to $180k? They haven't paid market in years.

Isn't the gap for the firms that are paying $145k/150k too large now (now that most large firms are at 180k) for them to stay at the same level? its a $35k difference!

[LaLiLuLeLo]

ManaTTT was at $125k for years while market was $160k. Doubt they care about $180k.

[Anonymous User]

Also anyone know anything about Polsinelli? Any chance they match??

I'm almost certain they don't pay market right? Are they at 160 in some offices? Man what's with all these people hoping they're about to get a $50k raise haha

Nope don't pay market . it's nice to hope they step it up to the big time someday lol

[Actus Reus]

Now ITT, we separate those truly in biglaw from those not (Manatt)

[Anonymous User]

A&P matched, US offices and summers.

Has this been confirmed?


Looks like remaining Am Law 100 with more than 1mil PPP in 2016 are:

1. Wachtell Lipton: $6,600,000
19. King & Spalding: $2,515,000
20. Dechert: $2,510,000
35. Fragomen: $1,850,000
38. WilmerHale: $1,810,000
41. Orrick: $1,790,000
43. Alston & Bird: $1,745,000
48. Williams & Connolly: $1,560,000
51. Morgan Lewis: $1,530,000
52. Katten: $1,510,000
53. Fish & Richardson: $1,490,000
54. Greenberg Traurig: $1,475,000
55. Sheppard Mullin: $1,445,000
56. Kaye Scholer: $1,380,000
58. Holland & Knight: $1,250,000
[60. Arnold & Porter: $1,210,000]
61. Pillsbury: $1,185,000
63. Foley & Lardner: $1,130,000
64. Reed Smith: $1,105,000
65. Perkins Coie: $1,100,000
66. Mintz Levin: $1,065,000
67. Venable: $1,060,000
68. McGuire Woods: $1,045,000
69. Crowell & Moring: $1,035,000
70. Pepper Hamilton: $1,025,000
71. Seyfarth: $1,020,000
72. Jones Day: $1,010,000

mcguirewoods will face an associate rebellion if we do not get any raise. Our "merit" compensation model combined with low bonuses, put us significantly behind the old market numbers once you got to your ~4th year. now it's worlds apart.

[imalreadyamember?]

Also anyone know anything about Polsinelli? Any chance they match??

I'm almost certain they don't pay market right? Are they at 160 in some offices? Man what's with all these people hoping they're about to get a $50k raise haha

Nope don't pay market . it's nice to hope they step it up to the big time someday lol

Maybe if they expand their offices in the big cities. Looking at their website and I did not realize they had so many effing offices, wow. But yeah they don't have to pay that much in KC sorry bruh.

[Anonymous User]

Expect WH announcement tomorrow

I am above Anon. I have failed you. Just canceled my booth at POV for tonight. Didn't lose my deposit because Skadden SA bought out entire rooftop.

WH partners meet next Tuesday.

[Anonymous User]

Expect WH announcement tomorrow

I am above Anon. I have failed you. Just canceled my booth at POV for tonight. Didn't lose my deposit because Skadden SA bought out entire rooftop.

WH partners meet next Tuesday.

Fuck me, TUESDAY? They can't call like an ad hoc meeting? Jesus guys. What were you going off for the above prediction? I trusted you anon (jk but you got me hype). ETA: hope you're incorrect a second time (but in a good way)

[Anonymous User]

K&L has to at least match NYC right? It did in a week in 2007 and there's only 26 associates in the office...

Isn't K&L in the midst of some pretty bad times right now?

K&L has been bleeding partners

Sooo... PPP is up??

Lol, not those partners.

Subjectively NY is still busy though... So maybe just a debate about how TTT they will be in lesser markets? Pitt and Seattle being huge probably makes it harder to decide considering those are the "Home" offices...

Also $210M contingency payment means PPP is up...

[Anonymous User]

ManaTTT went from $125k then to $150k recently. Why in the world would they go to $180k? They haven't paid market in years.

Isn't the gap for the firms that are paying $145k/150k too large now (now that most large firms are at 180k) for them to stay at the same level? its a $35k difference!

I'm at a firm making $150k and I'm not very optimistic about getting any sort of raise (let alone to $180 - that'll never happen) in the near future. esp considering that not even all of the market has moved yet - what's the motivation to give raises?

[Anonymous User]

ManaTTT went from $125k then to $150k recently. Why in the world would they go to $180k? They haven't paid market in years.

Isn't the gap for the firms that are paying $145k/150k too large now (now that most large firms are at 180k) for them to stay at the same level? its a $35k difference!

I'm at a firm making $150k and I'm not very optimistic about getting any sort of raise (let alone to $180 - that'll never happen) in the near future. esp considering that not even all of the market has moved yet - what's the motivation to give raises?

To attract people in OCI and attorneys in general. I chose my firm paying $145k over $160k firms because I really liked the firm and the people there and the $15k difference was tolerable. But $35k is kinda hard to justify even if you love the firm.

[Anonymous User]

ManaTTT went from $125k then to $150k recently. Why in the world would they go to $180k? They haven't paid market in years.

Isn't the gap for the firms that are paying $145k/150k too large now (now that most large firms are at 180k) for them to stay at the same level? its a $35k difference!

I'm at a firm making $150k and I'm not very optimistic about getting any sort of raise (let alone to $180 - that'll never happen) in the near future. esp considering that not even all of the market has moved yet - what's the motivation to give raises?

To attract people in OCI and attorneys in general. I chose my firm paying $145k over $160k firms because I really liked the firm and the people there and the $15k difference was tolerable. But $35k is kinda hard to justify even if you love the firm.

Yeah I mean, I made that choice too (firms I turned down haven't gone to 180 yet though). it's not clear to me that these firms really compete for talent at oci with firms paying 180 (but I also don't know much about recruiting - and I don't think many people would choose 150 over 180). Agreed that it will make attracting laterals a lot tougher though.

It's just hard for me to think they'll be motivated to move as quickly as we'd all like, but I'd love to be wrong.

[Anonymous User]

Dechert associates have been receiving recruiter emails that basically say "Dechert is being a dick by not stepping up at this point, why not go somewhere else." Not sure what the firm's waiting for. I guess the partners are taking their time mourning the fact that they might have to part with a teeny-weeny fraction of their $2.5m PPPs in the foreseeable future.

[Big Shrimpin]

Dechert associates have been receiving recruiter emails that basically say "Dechert is being a dick by not stepping up at this point, why not go somewhere else." Not sure what the firm's waiting for. I guess the partners are taking their time mourning the fact that they might have to part with a teeny-weeny fraction of their $2.5m PPPs in the foreseeable future.

Watch it bro, the daily flower arrangements in the hamptons house are NOT CHEAP.

[Anonymous User]

Expect WH announcement tomorrow

I am above Anon. I have failed you. Just canceled my booth at POV for tonight. Didn't lose my deposit because Skadden SA bought out entire rooftop.

WH partners meet next Tuesday.

Fuck me, TUESDAY? They can't call like an ad hoc meeting? Jesus guys. What were you going off for the above prediction? I trusted you anon (jk but you got me hype). ETA: hope you're incorrect a second time (but in a good way)

Anon is incorrect the second time too. You'll hear tomorrow.

[Anonymous User]

Dechert associates have been receiving recruiter emails that basically say "Dechert is being a dick by not stepping up at this point, why not go somewhere else." Not sure what the firm's waiting for. I guess the partners are taking their time mourning the fact that they might have to part with a teeny-weeny fraction of their $2.5m PPPs in the foreseeable future.

Confirmed that Sheppard Mullin associates firm wide and practice group wide have been getting similar emails.

[Anonymous User]

Expect WH announcement tomorrow

I am above Anon. I have failed you. Just canceled my booth at POV for tonight. Didn't lose my deposit because Skadden SA bought out entire rooftop.

WH partners meet next Tuesday.

Fuck me, TUESDAY? They can't call like an ad hoc meeting? Jesus guys. What were you going off for the above prediction? I trusted you anon (jk but you got me hype). ETA: hope you're incorrect a second time (but in a good way)

Anon is incorrect the second time too. You'll hear tomorrow.

Don't you tease me, anon, I am in no mood. Fool me once...

[Anonymous User]

Dechert associates have been receiving recruiter emails that basically say "Dechert is being a dick by not stepping up at this point, why not go somewhere else." Not sure what the firm's waiting for. I guess the partners are taking their time mourning the fact that they might have to part with a teeny-weeny fraction of their $2.5m PPPs in the foreseeable future.

Confirmed that Sheppard Mullin associates firm wide and practice group wide have been getting similar emails.

Confirmed further that said emails have subject lines that include the stroke-inducing "Time for a Raise"

[MCFC]

http://www.wsj.com/articles/companies-p ... 1466029554

After Cravath, Swaine & Moore LLP said last week it would boost starting pay for its junior-most lawyers to $180,000, law firms across the country stumbled over themselves to announce salary increases for their own associates.

But now companies are pushing back.

Bank of America Corp.’s top lawyer recently sent an email to a group of law firms calling the increases in associate lawyer pay unjustified, making it clear the bank wouldn’t help firms absorb the cost.

“While we respect the firms’ judgment about what best serves their long-term competitive interests, we are aware of no market-driven basis for such an increase and do not expect to bear the costs of the firms’ decisions,” David Leitch, Bank of America’s global general counsel, wrote in the email, reviewed by The Wall Street Journal

[Anonymous User]

Dechert associates have been receiving recruiter emails that basically say "Dechert is being a dick by not stepping up at this point, why not go somewhere else." Not sure what the firm's waiting for. I guess the partners are taking their time mourning the fact that they might have to part with a teeny-weeny fraction of their $2.5m PPPs in the foreseeable future.

No idea what is taking them so long. Maybe they're trying to be stingy in Philly again?

[LaLiLuLeLo]

http://www.wsj.com/articles/companies-p ... 1466029554

After Cravath, Swaine & Moore LLP said last week it would boost starting pay for its junior-most lawyers to $180,000, law firms across the country stumbled over themselves to announce salary increases for their own associates.

But now companies are pushing back.

Bank of America Corp.’s top lawyer recently sent an email to a group of law firms calling the increases in associate lawyer pay unjustified, making it clear the bank wouldn’t help firms absorb the cost.

“While we respect the firms’ judgment about what best serves their long-term competitive interests, we are aware of no market-driven basis for such an increase and do not expect to bear the costs of the firms’ decisions,” David Leitch, Bank of America’s global general counsel, wrote in the email, reviewed by The Wall Street Journal

BofA was a client of a firm I worked at many moons ago. This doesn't surprise me in the least. They were cheap fucks then, and cheap fucks now.

[Anonymous User]

http://www.wsj.com/articles/companies-p ... 1466029554

After Cravath, Swaine & Moore LLP said last week it would boost starting pay for its junior-most lawyers to $180,000, law firms across the country stumbled over themselves to announce salary increases for their own associates.

But now companies are pushing back.

Bank of America Corp.’s top lawyer recently sent an email to a group of law firms calling the increases in associate lawyer pay unjustified, making it clear the bank wouldn’t help firms absorb the cost.

“While we respect the firms’ judgment about what best serves their long-term competitive interests, we are aware of no market-driven basis for such an increase and do not expect to bear the costs of the firms’ decisions,” David Leitch, Bank of America’s global general counsel, wrote in the email, reviewed by The Wall Street Journal

Haha! The firms must not have listened, considering that after CWT moved today nearly all the Biglaw offices in Charlotte, where BoA is headquartered, are at 180.