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NYC to 200k
Posted: Sat Mar 24, 2018 12:33 pm
by Love With The Coco
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.
Re: NYC to 200k
Posted: Sat Mar 24, 2018 3:02 pm
by Anonymous User
You think we go 190k first or would the next firm jump straight to 200k
Re: NYC to 200k
Posted: Sat Mar 24, 2018 4:44 pm
by Love With The Coco
10k jump is a slap in the face. What's Cravath/S&C's PPP this year? 210 seems more likely than 190
Re: NYC to 200k
Posted: Sat Mar 24, 2018 6:22 pm
by mvp99
Increase bonuses not fixed costs. We are all better off that way
Re: NYC to 200k
Posted: Sat Mar 24, 2018 11:37 pm
by ikethegremlin
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.
Re: NYC to 200k
Posted: Sun Mar 25, 2018 2:47 am
by Love With The Coco
And what was it before 160k? For how long?
That's right.
Re: NYC to 200k
Posted: Sun Mar 25, 2018 5:05 am
by Sinatra
Love With The Coco wrote:And what was it before 160k? For how long?
the answer to this for those who don't know?
Re: NYC to 200k
Posted: Sun Mar 25, 2018 8:02 am
by Hutz_and_Goodman
If the economy doesn’t go into a recession I predict that base salary will go to $200k either next year or 2020.
Re: NYC to 200k
Posted: Sun Mar 25, 2018 9:03 am
by jd20132013
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
Re: NYC to 200k
Posted: Sun Mar 25, 2018 11:53 am
by Johann
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.
Re: NYC to 200k
Posted: Sun Mar 25, 2018 1:07 pm
by Love With The Coco
Thats extra incentive for the big boys to move. Could eliminate much of their compensation.
Re: NYC to 200k
Posted: Sun Mar 25, 2018 2:27 pm
by MillllerTime
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.
Re: NYC to 200k
Posted: Sun Mar 25, 2018 2:27 pm
by Anonymous User
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/