NYC to 200k Forum

Love With The Coco · Post by **Love With The Coco** » Sat Mar 24, 2018 12:33 pm

Firms are rolling in the dough and the top firms are busy as hell. Is this the summer we jump to 200k?

Rumors/analysis in this thread. Let's make it happen.

Anonymous User · Post by **Anonymous User** » Sat Mar 24, 2018 3:02 pm

You think we go 190k first or would the next firm jump straight to 200k

Love With The Coco · Post by **Love With The Coco** » Sat Mar 24, 2018 4:44 pm

10k jump is a slap in the face. What's Cravath/S&C's PPP this year? 210 seems more likely than 190

mvp99 · Post by **mvp99** » Sat Mar 24, 2018 6:22 pm

Increase bonuses not fixed costs. We are all better off that way

ikethegremlin · Post by **ikethegremlin** » Sat Mar 24, 2018 11:37 pm

y'all are hilarious. It's not even a full 2 years since we went to 180k, and it was at 160k for 10 years before that.

Love With The Coco · Post by **Love With The Coco** » Sun Mar 25, 2018 2:47 am

And what was it before 160k? For how long?

That's right.

Sinatra · Post by **Sinatra** » Sun Mar 25, 2018 5:05 am

Love With The Coco wrote:And what was it before 160k? For how long?

the answer to this for those who don't know?

Hutz_and_Goodman · Post by **Hutz_and_Goodman** » Sun Mar 25, 2018 8:02 am

If the economy doesn’t go into a recession I predict that base salary will go to $200k either next year or 2020.

jd20132013 · Post by **jd20132013** » Sun Mar 25, 2018 9:03 am

a more sensible system would start increasing salaries at second and third years so that you aren't just juicing salaries for associates who are totally useless

Johann · Post by **Johann** » Sun Mar 25, 2018 11:53 am

Most firms are already having problems paying 180k. Eg see the baker McKenzie thread and jones day reluctance to match. There are maybe 10-15 firms that can afford a 200k firstborn year base. They might move, but we’d see a stratification almost assuredly.

Love With The Coco · Post by **Love With The Coco** » Sun Mar 25, 2018 1:07 pm

Thats extra incentive for the big boys to move. Could eliminate much of their compensation.

MillllerTime · Post by **MillllerTime** » Sun Mar 25, 2018 2:27 pm

Love With The Coco wrote:Thats extra incentive for the big boys to move. Could eliminate much of their compensation.

Exactly (although I'll assume you mean competition) - the only reason firms raise salaries is because NYC firms have trouble recruiting and maintaining associates who would prefer to do the same thing without NYC taxes and COL. The fact that only 20-30 firms would match (and only in major offices) is precisely the reason to do so.

All that said, agree with the point about needed to raise midlevel and senior associate salaries much more than first or second year salaries.

Anonymous User · Post by **Anonymous User** » Sun Mar 25, 2018 2:27 pm

Sinatra wrote:
Love With The Coco wrote:And what was it before 160k? For how long?
the answer to this for those who don't know?

Simpson moved to 160 in January, 2007, less than a year a year after Simpson had gone to 145 in February, 2006. Prior to then, starting salaries had been at 125 for about 5 years.

A graph is here: https://abovethelaw.com/2017/03/could-b ... recession/

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