I know many people in the Nashville large firms and work at a firm that would fit perfectly there. Based on what I know, the whole “everyone wants to open in Nashville” thing is overblown. That’s why the only biglaw firm with a presence there is K&L, which is arguably not even biglaw because it doesn’t pay market. More firms have set up shop in SLC and MIA.Anonymous User wrote: ↑Tue Dec 28, 2021 10:47 amYou don’t have to believe something for it to be true lol. I didn’t say these baby firms would be the ones raising. I said the top of Nashville would match Cravath. A bunch of AmLaw firms (all the way to the top) have been salivating over Nashville for years, just waiting. What highly desirable summer or junior associate is going to walk away from 200+? I work in “the big 4” and I know people working AmLaw hours for non-AmLaw pay. The rates will come up. All partners here do is gripe about how low their rates are. There’s a lot of factors that will soon make the perfect storm.Anonymous User wrote: ↑Tue Dec 28, 2021 1:00 amHighly doubt this will happen in 2022. I know junior partners at some of the firms who are fuming right now because they’re now making less than senior associates. I’ve noticed that these smaller regional southern firms have bigger classes of junior/nonequity partners than other places. Unless they are willing to raise those salaries as well, I think it’ll be very hard for them to bump again to Cravath in 2022. Also, the rates couldn’t sustain that kind of bump.Anonymous User wrote: ↑Mon Dec 27, 2021 10:32 amAnon from earlier. Won’t drop the full scale but Baker is not being cheap (compared to how Nashville firms used to play it) and clearly, a gauntlet has been thrown here. Nashville will hit Cravath in 2022.
Also, rates can’t go up much if they can’t be sustained. I’ve heard that K&L is already struggling with rates there. Plus, most of the major clients get insane discounts for their big ongoing matters. I know associates who bill out in the $200-300s/hr for some of their big healthcare clients.
I love Nashville and am excited that it’s finally getting with the times (it was paying $105k when I was comparing offers back in the day), but I think people/lawyers in Nashville have started to believe they are living in the next Austin, which isn’t the case.
I hope to be proven wrong, but unless Kirkland decides to set up shop in Nashville, I don’t see any firm with associates paying market there.