Milbank/Davis Polk/Cravath Scale: NYC to 215-415k Forum

[bigbeau]

Junior associates will get around $500 and Senior associates around $1000 each month, after taxes of course! And taking into account inflation, we're back to 2021 salaries.

Such fucking whiners. Name another industry that has regularly given industry-wide base salary raises of 5-10% in the last few years.

Yeah dude other people have it worse so we should all lick partners boots and be unreservedly grateful for inflation-matching raises.

Uh...you know you still get regular raises every year that are pretty fucking significant, right? Like this just an increase of the scale? The purpose of which is to stay in line with inflation, and any more is just extra? Should law grads today get paid more than those 3 years ago accounting for inflation? Jesus lawyers are whiny.

[Anonymous User]

Junior associates will get around $500 and Senior associates around $1000 each month, after taxes of course! And taking into account inflation, we're back to 2021 salaries.

Such fucking whiners. Name another industry that has regularly given industry-wide base salary raises of 5-10% in the last few years.

Literally every single one? Name one that hasn't. Salaries are way up everywhere.

[Anonymous User]

Should law grads today get paid more than those 3 years ago accounting for inflation?

Yes. Next question.

[Anonymous User]

Junior associates will get around $500 and Senior associates around $1000 each month, after taxes of course! And taking into account inflation, we're back to 2021 salaries.

Such fucking whiners. Name another industry that has regularly given industry-wide base salary raises of 5-10% in the last few years.

Yeah dude other people have it worse so we should all lick partners boots and be unreservedly grateful for inflation-matching raises.

Uh...you know you still get regular raises every year that are pretty fucking significant, right? Like this just an increase of the scale? The purpose of which is to stay in line with inflation, and any more is just extra? Should law grads today get paid more than those 3 years ago accounting for inflation? Jesus lawyers are whiny.

Considering how much more profitable law firms are today off the backs of associate labor, yes, they should get paid more than 3 years ago.

[bigbeau]

Should law grads today get paid more than those 3 years ago accounting for inflation?

Yes. Next question.

Well good news. They ARE. That's what this is.

[Anonymous User]

Should law grads today get paid more than those 3 years ago accounting for inflation?

Yes. Next question.

Well good news. They ARE. That's what this is.

Can’t believe someone is arguing against getting a raise LOL. Or that people are whiny if they expect that they should get a larger portion of the profit their labor generates.

[Anonymous User]

I think what separates law from other industries is that in other industries, you have to march into your boss office and demand a raise every year/few years. Some people don't do it so they suffer from being underpaid for years.

[Anonymous User]

Junior associates will get around $500 and Senior associates around $1000 each month, after taxes of course! And taking into account inflation, we're back to 2021 salaries.

Such fucking whiners. Name another industry that has regularly given industry-wide base salary raises of 5-10% in the last few years.

Market for tech has been "poppin off"

[thisismytlsuername]

It's painfully obvious how many of you have never worked outside of biglaw. You'd be lucky to get a 1% annual raise in most white-collar jobs, setting aside the scale raises that biglaw lawyers also get. Do you all realize that virtually all industries *don't* give annual 5-10% progression raises? (Again, I'm not even talking about the increases to the full scale that have occurred repeatedly in the last few years.)

[JM14]

Junior associates will get around $500 and Senior associates around $1000 each month, after taxes of course! And taking into account inflation, we're back to 2021 salaries.

Such fucking whiners. Name another industry that has regularly given industry-wide base salary raises of 5-10% in the last few years.

Sorry, can you speak up? I can't hear you over my 90 hour work week...

[Anonymous User]

Traveling nurses are pulling $10k/week and senior software engineers hitting $1mm/year. NYC to $225k

[bigbeau]

Should law grads today get paid more than those 3 years ago accounting for inflation?

Yes. Next question.

Well good news. They ARE. That's what this is.

Can’t believe someone is arguing against getting a raise LOL. Or that people are whiny if they expect that they should get a larger portion of the profit their labor generates.

Who's arguing against raises? I'm arguing against complaining about a raise that outpaces almost every field in the modern world. 26 year olds coming out of school making 215k is bonkers.

And yes, if you're getting a nice raise, and your first thought is "it should be higher", you're whiny. Firm associate salaries are so insanely bloated it's insane.

[thisismytlsuername]

Junior associates will get around $500 and Senior associates around $1000 each month, after taxes of course! And taking into account inflation, we're back to 2021 salaries.

Such fucking whiners. Name another industry that has regularly given industry-wide base salary raises of 5-10% in the last few years.

Sorry, can you speak up? I can't hear you over my 90 hour work week...

Must really be getting crushed to be poasting at noon on a Thursday.

[Anonymous User]

It's painfully obvious how many of you have never worked outside of biglaw. You'd be lucky to get a 1% annual raise in most white-collar jobs, setting aside the scale raises that biglaw lawyers also get. Do you all realize that virtually all industries *don't* give annual 5-10% progression raises? (Again, I'm not even talking about the increases to the full scale that have occurred repeatedly in the last few years.)

As someone who worked for 7 years before law school, yeah that is correct, but again, why is "other people get fucked so you're not allowed to want more" a point people try and argue?

Ya'll are free to tell the partners you don't want a raise, I'm sure their third marble bathroom in their vacation home will appreciate your contribution.

Firm associate salaries are so insanely bloated it's insane.

Clearly not if firms feel the need to keep offering the raises, offering special bonuses, and clients keep paying the bills for the associate work.

[Anonymous User]

Firm associate salaries are so insanely bloated it's insane.

So bloated it's literally impossible to find a third year or more senior to accept the salary at half of market paying firms

[Anonymous User]

Junior associates will get around $500 and Senior associates around $1000 each month, after taxes of course! And taking into account inflation, we're back to 2021 salaries.

Such fucking whiners. Name another industry that has regularly given industry-wide base salary raises of 5-10% in the last few years.

Sorry, can you speak up? I can't hear you over my 90 hour work week...

Before I was a lawyer, my F500 company guaranteed a 4% increase to base YoY (CPA in corporate accounting). I was making not quite six figures, but had I stayed another year or two, it would have been with my bonus. This was also my first job right out of college. Promotions essentially every two years, so base goes up way more than 4% when you annualized it and probability weighted it with essentially guaranteed promotion. 8:30-4:30 M-F no weekend was quite nice and I wonder if I made the right choice going to law school everyday.

[Anonymous User]

Traveling nurses are pulling $10k/week and senior software engineers hitting $1mm/year. NYC to $225k

Add to that, most tech employees get stock options which lawyers, of course, don't. Have a friend who became a millionaire just through his stock options at Nvidia as an SWE from 2013 to now. Not even counting salary.

[thisismytlsuername]

It's painfully obvious how many of you have never worked outside of biglaw. You'd be lucky to get a 1% annual raise in most white-collar jobs, setting aside the scale raises that biglaw lawyers also get. Do you all realize that virtually all industries *don't* give annual 5-10% progression raises? (Again, I'm not even talking about the increases to the full scale that have occurred repeatedly in the last few years.)

As someone who worked for 7 years before law school, yeah that is correct, but again, why is "other people get fucked so you're not allowed to want more" a point people try and argue?

Ya'll are free to tell the partners you don't want a raise, I'm sure their third marble bathroom in their vacation home will appreciate your contribution.

That's not what I'm saying. All I said was that it's whiny as hell to greet the news of "here is a 5-10% scale raise" with "WHY ISN'T IT HIGHER".

[Anonymous User]

Any matches?

[thisismytlsuername]

Traveling nurses are pulling $10k/week and senior software engineers hitting $1mm/year. NYC to $225k

Add to that, most tech employees get stock options which lawyers, of course, don't. Have a friend who became a millionaire just through his stock options at Nvidia as an SWE from 2013 to now. Not even counting salary.

If you'd rather get your comp spread out over a four year vest in a form that may or may not be worth something someday instead of straight cash, I bet you can find a job that would be happy to pay you that way.

[randomthrowaway]

Isn't this the fourth raise in the last six years? Recall that biglaw didn't raise salaries at all from 2007 to 2016. And didn't start paying the huge bonuses until ~2014?

[Anonymous User]

Traveling nurses are pulling $10k/week and senior software engineers hitting $1mm/year. NYC to $225k

Add to that, most tech employees get stock options which lawyers, of course, don't. Have a friend who became a millionaire just through his stock options at Nvidia as an SWE from 2013 to now. Not even counting salary.

If you'd rather get your comp spread out over a four year vest in a form that may or may not be worth something someday instead of straight cash, I bet you can find a job that would be happy to pay you that way.

I dunno, I guess I just don't understand why anyone would call someone else "whiny" for demanding more of the value of their labor when there is an asymmetrical relationship when it comes to bargaining power. The relationship between workers and managers (in this case, associates and Partners), when it comes to comp, should always be adversarial, because they're trying to squeeze every last drop out of you.

So if anything, what you're getting paid is the bare minimum that they are willing to pay you to keep you on the job generating more profit for them.

[Anonymous User]

It's painfully obvious how many of you have never worked outside of biglaw. You'd be lucky to get a 1% annual raise in most white-collar jobs, setting aside the scale raises that biglaw lawyers also get. Do you all realize that virtually all industries *don't* give annual 5-10% progression raises? (Again, I'm not even talking about the increases to the full scale that have occurred repeatedly in the last few years.)

As someone who worked for 7 years before law school, yeah that is correct, but again, why is "other people get fucked so you're not allowed to want more" a point people try and argue?

Ya'll are free to tell the partners you don't want a raise, I'm sure their third marble bathroom in their vacation home will appreciate your contribution.

That's not what I'm saying. All I said was that it's whiny as hell to greet the news of "here is a 5-10% scale raise" with "WHY ISN'T IT HIGHER".

Seems pretty whiny to whine about people who want a bigger raise. Who wouldn't want a bigger raise, and it's pretty clear firms have a lot of room to provide a bigger raise if they can immediately match any increase.

[glitched]

Should law grads today get paid more than those 3 years ago accounting for inflation?

Yes. Next question.

Well good news. They ARE. That's what this is.

Can’t believe someone is arguing against getting a raise LOL. Or that people are whiny if they expect that they should get a larger portion of the profit their labor generates.

As time goes on, more and more people in this forum have become or will be partners. They lose money when stuff like this are announced.

[ExpOriental]

Should law grads today get paid more than those 3 years ago accounting for inflation?

Yes. Next question.

Well good news. They ARE. That's what this is.

Can’t believe someone is arguing against getting a raise LOL. Or that people are whiny if they expect that they should get a larger portion of the profit their labor generates.

As time goes on, more and more people in this forum have become or will be partners. They lose money when stuff like this are announced.

I'm not an associate, I'm just a temporarily embarrassed partner