NY to 200k?! Forum
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NY to 200k?!
Word on the street is that Milbank is raising salaries. Can anyone please confirm?
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Re: NY to 200k?!
Milbanker here, confirmed. 10-15K rasies for all other class years as well
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Re: NY to 200k?!
Can you post the full scale?Anonymous User wrote: ↑Thu Jun 10, 2021 11:08 amMilbanker here, confirmed. 10-15K rasies for all other class years as well
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Re: NY to 200k?!
Milbank's new comp scale (starting July 2021):
2021/2020: $200,000 ($10,000 increase)
2019: $210,000 ($10,000 increase)
2018: $230,000 ($10,000 increase)
2017: $270,000 ($15,000 increase)
2016: $295,000 ($15,000 increase)
2015: $320,000 ($15,000 increase)
2014: $340,000 ($15,000 increase)
2013: $355,000 ($15,000 increase)
2021/2020: $200,000 ($10,000 increase)
2019: $210,000 ($10,000 increase)
2018: $230,000 ($10,000 increase)
2017: $270,000 ($15,000 increase)
2016: $295,000 ($15,000 increase)
2015: $320,000 ($15,000 increase)
2014: $340,000 ($15,000 increase)
2013: $355,000 ($15,000 increase)
Last edited by Anonymous User on Thu Jun 10, 2021 11:23 am, edited 1 time in total.
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Re: NY to 200k?!
I support this move. Willkie and DPW need to be moved up as well for the bonuses.
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Re: NY to 200k?!
Great news and I think this trend upwards will continue so long as retention remains so bad. At my V5 it’s an absolute knife fight to keep anyone past like 2 years lmao
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Re: NY to 200k?!
Hopefully DPW tops it and comes back with $220k. I know they can do it.
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Re: NY to 200k?!
Anyone think the same thing will happen like last time (another firm coming in and further raising midlevel salaries)?
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Re: NY to 200k?!
Can we all start chanting "DPW to 215"
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Re: NY to 200k?!
Yes, that's how it works. The rest of the law firms will follow eventually (slowly). Else, Milbank would be singled out with above-market salary and hoard all the talents.Anonymous User wrote: ↑Thu Jun 10, 2021 11:34 amAnyone think the same thing will happen like last time (another firm coming in and further raising midlevel salaries)?
The term "Milbank scale" will definitely stick.
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Re: NY to 200k?!
I'd honestly be surprised if another firm (looking at you, DPW) doesn't blow past this increase and raise salaries further for all levels across the scale. Question is whether it's going to be 210k or moreAnonymous User wrote: ↑Thu Jun 10, 2021 11:34 amAnyone think the same thing will happen like last time (another firm coming in and further raising midlevel salaries)?
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Re: NY to 200k?!
It is now the "Milbank Scale." Cravath in ruins.
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Re: NY to 200k?!
I doubt firms will come over the top for junior associates, but I think it's likely DPW will come over for mid-levels and seniors. Firms are bleeding mid-levels and the V10 needs to distinguish themselves from the rest of the Vault 100 besides prefstige.
Now is Cravath's chance to actually be relevant again!
Now is Cravath's chance to actually be relevant again!
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Re: NY to 200k?!
I hope you're right, but what's your reasoning?Anonymous User wrote: ↑Thu Jun 10, 2021 11:40 amI'd honestly be surprised if another firm (looking at you, DPW) doesn't blow past this increase and raise salaries further for all levels across the scale. Question is whether it's going to be 210k or moreAnonymous User wrote: ↑Thu Jun 10, 2021 11:34 amAnyone think the same thing will happen like last time (another firm coming in and further raising midlevel salaries)?
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Re: NY to 200k?!
+1. Milbank still not getting enough Vault credit. Even in the NY rankings it is only #17, below Sidley, W&C, GDC, etc ...
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Re: NY to 200k?!
Indeed.
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Re: NY to 200k?!
Fried Frank matched Millbank.
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Re: NY to 200k?!
Does anyone have the stats on how midlevel/senior salaries increased during the last bump from 180k to 190k (or better yet also from 160k to 180k)? Was it basically across the board like this (with a slight bump for mids/seniors at +5 over the increase) or was there any more meaningful differentiation in the salary raise between class levels?
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Re: NY to 200k?!
Milbank Scale forever.
Only way Cravattth retains a shred of dignity after the past few years is to come over the top in a big way.
Only way Cravattth retains a shred of dignity after the past few years is to come over the top in a big way.
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- DoveBodyWash
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Re: NY to 200k?!
DPW will come out over top. Covington will be the last one if they match at all lol
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Re: NY to 200k?!
I wouldnt be surprised if the DC firms (besides maybe Akin) just don't match.DoveBodyWash wrote: ↑Thu Jun 10, 2021 12:03 pmDPW will come out over top. Covington will be the last one if they match at all lol
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Re: NY to 200k?!
For context:
the 180-190 raises were on the same scale essentially -
1-3rd years +$10K
4-8 years +$15k
the 160-180 raises were on a more graduated scale and (obviously) larger -
1-2nd years +$20k
3-4th years +$25k
5-6th years +$30k
7-8th years +$35k
Kind of surprised this scale is more like the 180-90 bump than the 160-80 bump given the issues with midlevel retention.
Sources:
https://www.vault.com/blogs/vaults-law- ... -where-why
https://abovethelaw.com/2016/06/breakin ... -salaries/
the 180-190 raises were on the same scale essentially -
1-3rd years +$10K
4-8 years +$15k
the 160-180 raises were on a more graduated scale and (obviously) larger -
1-2nd years +$20k
3-4th years +$25k
5-6th years +$30k
7-8th years +$35k
Kind of surprised this scale is more like the 180-90 bump than the 160-80 bump given the issues with midlevel retention.
Sources:
https://www.vault.com/blogs/vaults-law- ... -where-why
https://abovethelaw.com/2016/06/breakin ... -salaries/
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Re: NY to 200k?!
I hope S&C drops comp - people are making too much
Seriously? What are you waiting for?
Now there's a charge.
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