NY to 200k?! Forum

[objctnyrhnr]

Would have expected more matches today, tbh. Honestly I’m just comforted by the fact that everybody from I dunno mintz to McDermott to baker is getting in on raises. I don’t think any v30s, and maybe even v50s, can choose to ignore this besides Jones day I guess.

[Monochromatic Oeuvre]

Would have expected more matches today, tbh. Honestly I’m just comforted by the fact that everybody from I dunno mintz to McDermott to baker is getting in on raises. I don’t think any v30s, and maybe even v50s, can choose to ignore this besides Jones day I guess.

Your friendly neighborhood V35 has entered the chat.

[objctnyrhnr]

Would have expected more matches today, tbh. Honestly I’m just comforted by the fact that everybody from I dunno mintz to McDermott to baker is getting in on raises. I don’t think any v30s, and maybe even v50s, can choose to ignore this besides Jones day I guess.

Your friendly neighborhood V35 has entered the chat.

Yeah I mean I think the orricks, DLA’s,
and molews of the world are pretty stuck in having to match dpw here no question.

[MrTooToo]

Oh man it has been such a pleasure reading two junior attorneys / 2Ls snipe back and forth at each other for twenty posts over whether reading a firm compensation memorandum is or is not indicative of professional competency; this has been highly relevant to my interest in whether I am going to be able to now afford the 911 lease payment or will be stuck with a CayTTTman. Thanks all.

[objctnyrhnr]

Oh man it has been such a pleasure reading two junior attorneys / 2Ls snipe back and forth at each other for twenty posts over whether reading a firm compensation memorandum is or is not indicative of professional competency; this has been highly relevant to my interest in whether I am going to be able to now afford the 911 lease payment or will be stuck with a CayTTTman. Thanks all.

I just started deleting some of them. Enough already.

[Sackboy]

It's a very real possibility that firms had Juneteenth programming/PR today and did not want to distract from that.

[Anonymous User]

Also when is Cravaths partner meeting?

[Anonymous User]

It's a very real possibility that firms had Juneteenth programming/PR today and did not want to distract from that.

Well raising the pay of their labor force would be a great way to celebrate Juneteenth.

[Anonymous User]

Retention bonuses might not make sense given the structure of COVID and year end bonus payouts but if firms are trying to retain people beyond the end of 2021 (attrition will be a huge issue in 2022 because of this year), they may consider a retention bonus with a lock up.

Don’t know if I would want a retention bonus though. I’m probably out by year end.

(Anon because of last two sentences).

[Anonymous User]

Also when is Cravaths partner meeting?

They meet Monday at lunch. A partner I work with suggested today’s meeting would be long which makes me think that no announcement today means they’re just taking a wait and see approach but will not be raising

[LBJ's Hair]

It's a very real possibility that firms had Juneteenth programming/PR today and did not want to distract from that.

thought that was this coming friday, but i guess ymmv, maybe yours was doing it today

(If that was sarcasm, kudos -- I can't tell in this thread anymore)

[Anonymous User]

I've heard rumblings from friends at other V10s that some firms are contemplating retention bonuses on top of matching the new salary scale (and on top of the bonuses announced earlier this year). Anyone got the scoop?

they've already managed to stagger the special '21 bonuses + annuals as if they were quarterly retention bonuses already, what would these look like?

By announcing another round of special bonuses will come in April or so, though I very much doubt they would announce that this early. I bet it would come around the time that year-end bonus amounts were announced, maybe a bit earlier. Gotta dissuade the associates who are job-hunting in October in order to jump in January after the check clears.

[ExpOriental]

It's a very real possibility that firms had Juneteenth programming/PR today and did not want to distract from that.

Firms are busy assembling focus groups of black members of the firm (non-billable) to determine if temporarily replacing the rainbow theming with the firm logo symbolically busting through a chain is "too much"

[Anonymous User]

It's a very real possibility that firms had Juneteenth programming/PR today and did not want to distract from that.

Firms are busy assembling focus groups of black members of the firm (non-billable) to determine if temporarily replacing the rainbow theming with the firm logo symbolically busting through a chain is "too much"

Good lord...

[AureliusCapital]

Firms should up the salaries if they expect people back in the office. If they think a mass exodus is happening now, wait until people are fed up with being forced into the office as well. Only thing that will keep people silent for a few years is more money.

[Anonymous User]

If Milbank's strategy pays off in terms of a big jump in vault ranking, it might motivate management there to just do it again.

[NYto200K]

If Milbank's strategy pays off in terms of a big jump in vault ranking, it might motivate management there to just do it again.

It already paid off the first time. They moved about 15 spots. They'll move again this year, too. But the jump won't take into account these raises, because of the timing of when associates complete the survey (last month the latest).

Also, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, disappointed in the lack of movement today. Plan to lateral from my V10 to McDermott if no announcement tomorrow.

[Anonymous User]

I think the no matches are largely good news. These raises were generally not impressive. They were similar to prior raises, but we aren't in a prior raise world. We are in the world of bonuses coming semi-regularly, outrageous lateral bonuses, firms hiring people with poor credentials, etc. I think firms haven't matched yet, because people aren't convinced this is the end. A raise could come from any of like 20 firms right now, so people are sitting on the sidelines. I fully expect another re-raise.

[Anonymous User]

V&E matched DPW scale

[objctnyrhnr]

Predictions for tomorrow?

[Anonymous User]

Predictions for tomorrow?

CovingTTTon to 160

[Anonymous User]

Predictions for tomorrow?

CovingTTTon to 160

are vault rankings out tomorrow?

[Anonymous User]

Predictions for tomorrow?

There should be prediction markets for pay bumps & matches so that I, a degenerate gambler, can lose money on this whole thing

[Anonymous User]

Would be preferable to see an increase to the higher levels of the scale rather than bumping up the base. I’m sure juniors feel differently but iirc this is how we finalized 190 in the old system.

[Untitleddestiny]

Would be preferable to see an increase to the higher levels of the scale rather than bumping up the base. I’m sure juniors feel differently but iirc this is how we finalized 190 in the old system.

Not happening. People gave Cravath very little longterm credit for doing that last time. Some people were even calling it the Milbank scale because they finalized the 190. Setting the 1st year number has too much symbolic rep power and that is the most heavily advertised one. Hell that is probably why DPW went over even there. Whatever the final scale is the first year pay will be increased every time this round and finalized in the last boost.