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FOREIGN OFFICE COMPENSATION OF U.S FIRM
Posted: Sat Jan 09, 2016 3:33 pm
by rav17
Does anybody know if the foreign offices of big law U.S firms follow the same lockstep model as their U.S offices? So for instance, would a 1st year associate working in the London office off Skadden Arps or Sullivan & Cromwell start of making 160k (converted to pounds obviously) like their counterparts in the NYC office?
Re: FOREIGN OFFICE COMPENSATION OF U.S FIRM
Posted: Sat Jan 09, 2016 4:12 pm
by cowgirl_bebop
Some foreign offices have their own compensation systems more in line with the COL in that particular city/country; I know US firms in London do not pay the equivalent of a NYC salary to their newly qualified attorneys, and they do not all pay the same "market" rate. Other offices, like some in Asia, do offer the NYC scale + plus a cost of living adjustment for US attorneys who work there. It will all depend on the firm, the city, and probably where you are qualified.
Re: FOREIGN OFFICE COMPENSATION OF U.S FIRM
Posted: Sat Jan 09, 2016 4:31 pm
by Anonymous User
All caps title was pretty unnecessary.
CSM's London COL adjustment is around 100k, plus or minus a little. Id guess other NYC firms are similar.
Re: FOREIGN OFFICE COMPENSATION OF U.S FIRM
Posted: Sat Jan 09, 2016 6:11 pm
by rav17
Anonymous User wrote:All caps title was pretty unnecessary.
I don't care, that is in no way relevant to my question, I just happened to have caps locked enabled when I made the post and didn't really notice until you pointed it out. In the future i'll refrain from using an all caps title if it makes you feel better.
Re: FOREIGN OFFICE COMPENSATION OF U.S FIRM
Posted: Sat Jan 09, 2016 7:27 pm
by Anonymous User
Depends on the firm. Some pay to a local scale but in London, increasingly US firms pay to the
NY scale, including bonuses.
Re: FOREIGN OFFICE COMPENSATION OF U.S FIRM
Posted: Sun Jan 10, 2016 3:30 am
by Anonymous User
rav17 wrote:Anonymous User wrote:All caps title was pretty unnecessary.
I don't care, that is in no way relevant to my question, I just happened to have caps locked enabled when I made the post and didn't really notice until you pointed it out. In the future i'll refrain from using an all caps title if it makes you feel better.
I also answered your question.
Anonymous User wrote:CSM's London COL adjustment is around 100k, plus or minus a little. Id guess other NYC firms are similar.
You can also just ask HR at your firm to get the most accurate answer. Or ask someone who recently came back from being in a foreign office. COLA seems to constantly be changing a little bit.
Re: FOREIGN OFFICE COMPENSATION OF U.S FIRM
Posted: Mon Jan 11, 2016 11:18 pm
by Anonymous User
Anonymous User wrote:All caps title was pretty unnecessary.
CSM's London COL adjustment is around 100k, plus or minus a little. Id guess other NYC firms are similar.
I was a paralegal at CSM London. The COLA was adjusted periodically, especially when there were larger interest rate swings. They attys there were making a killing, but also never left the office or the printer to ever see London, so there's that. However, the London office associates were better about taking European-style vacations of a week or two at a time, and definitely a bit before they rotated over and back.
Re: FOREIGN OFFICE COMPENSATION OF U.S FIRM
Posted: Tue Jan 12, 2016 2:51 pm
by Anonymous User
It also depends where you were hired, and where your J.D. is from.
I've worked in the office of a V10 firm in Hong Kong, and was paid a decent (but not $100K or anything) COLA, on top of the standard New York market salary. I was hired out of the New York office however, and sent to Hong Kong for a year. However, attorneys hired out of the Hong Kong office itself, even after they become full associates, are paid dramatically less than the New York market (~50%), and obviously receive no COLA.