Vedder Price salary

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Vedder Price salary

Post by Anonymous User » Sat Nov 07, 2020 9:46 pm

I was speaking to a recruiter today about applying to firms and they mentioned Vedder. I’m trying to relocate to Chicago but I’d like to stay at a market/near market firm. The recruiter insisted that Vedder has the full scale if you hit the billable hours requirement. Can anyone verify this?

Also, the recruiter said the bonuses are “competitive,” but I don’t know what that means. Are bonuses at Vedder near market?

I have to really overhaul my resume if I want to submit, so I’m wondering if it’s something I’d even consider before doing that.

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Re: Vedder Price salary

Post by Anonymous User » Sat Nov 07, 2020 10:18 pm

"competitive" tends to mean market average for that geographical area.

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Re: Vedder Price salary

Post by Anonymous User » Sun Nov 08, 2020 2:20 am

Interested as well.

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Re: Vedder Price salary

Post by Anonymous User » Sun Nov 08, 2020 10:46 am

Anon bc I interviewed with them and had a recruiter

Obviously their comp starts at 190k but I didn’t get the sense (or confirmation) that they pay market bonuses. Someone can correct me but I also *think* that their comp isn’t the full cravath scale for all class years (which would suggest that they aren’t paying full market bonuses)

I don’t interpret “competitive” bonuses to mean market bonuses. I know of a number of V100s in the city that don’t pay full market bonuses and start at 190k and then phase out to black box comp beyond that. I assume Vedder follows this pattern or something close

Edit: one more note. Whether Vedder pays market bonuses is something that the recruiter should be able to easily confirm if they do. Standardized class bonuses are something the firm and the recruiter would definitely tell you about since it’s a big draw. Responding vaguely with only that the bonuses are “competitive” suggests they don’t pay market

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Re: Vedder Price salary

Post by Anonymous User » Sun Nov 08, 2020 6:31 pm

Also interested. To the last anonymous poster - do you have a sense as to what the comp structure realistically looks like compared to the lock-step?

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Anonymous User
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Re: Vedder Price salary

Post by Anonymous User » Sun Nov 08, 2020 9:17 pm

It's Cravath scale. My interviewer told me on OCI 2 years ago.

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Re: Vedder Price salary

Post by Anonymous User » Mon Nov 09, 2020 12:59 am

OP here.

So I guess the recruiter was not wrong when they said it’s Cravath scale. I’m honestly kind of shocked that it is Cravath scale. Thanks for the info!

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Re: Vedder Price salary

Post by Anonymous User » Wed Nov 11, 2020 5:52 pm

Different poster (anonymous b/c in talks with firms) - Is anyone willing to share the reputation and culture of the firm from what they know? Thanks in advance.

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Re: Vedder Price salary

Post by Anonymous User » Sat Nov 21, 2020 11:24 am

Vedder is not Cravath scale. It's 190K to start and compressed.

As far as rep goes, it's a very strong and solid firm in the Chicago market. It's a bit boomerish (jeans only on Friday just started like last year). Strong financial teams, not so strong at litigation. It's not on the Kirkland/Sidley/Mayer level nor is it on the Winston/MWE level but a step below IMO.

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Re: Vedder Price salary

Post by Anonymous User » Sat Nov 21, 2020 11:34 am

To the last anon - in terms of compressed salary, do you know how compressed? Thanks!

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Re: Vedder Price salary

Post by Anonymous User » Sat Nov 21, 2020 11:42 pm

No firsthand info but from friends that have worked there after being at mid-sized Chicago firms (think Pederson, NGE..), the pay is quite similar. I think it is fairly compressed in that it's like 190-200-205-215-220 sort of deal. With bonuses not being Cravath level either. That said, it is Chicago.

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