Would you make the move? Forum

[Anonymous User]

Hi all

I am a mid level associate in an international office (low tax jurisdiction) of a US headquartered firm. Up until recently, while not on the NY comp scale, the firm has paid associates in my office around $10-30K below NY for each class level. Given the low tax, the take home math has worked out for me.

However, with the latest rounds and re-ups of NY comp, the gap between what we are paid here and the firm's US offices is getting very big (think almost $100K after bonuses are factored in). Other US based firms in this jurisdiction pay their associates on the NY scale and so there is now a clear gap between my firm and its competitors in this jurisdiction.

I am doing well here and am often told that if I keep going, I have a good "shot" at partnership. However, that is still a good 4-5 years away, without any real guarantees no matter how many pats on the back I get right now.

Would you forgo potentially up to $100K a year in take home salary now for the long game of making it to partnership, or would you switch over to another firm that pays NY scale in this jurisdiction and make more money up front.

I know there are a lot of factors, but any thoughts would be much appreciated.

[Anonymous User]

Hi all

I am a mid level associate in an international office (low tax jurisdiction) of a US headquartered firm. Up until recently, while not on the NY comp scale, the firm has paid associates in my office around $10-30K below NY for each class level. Given the low tax, the take home math has worked out for me.

However, with the latest rounds and re-ups of NY comp, the gap between what we are paid here and the firm's US offices is getting very big (think almost $100K after bonuses are factored in). Other US based firms in this jurisdiction pay their associates on the NY scale and so there is now a clear gap between my firm and its competitors in this jurisdiction.

I am doing well here and am often told that if I keep going, I have a good "shot" at partnership. However, that is still a good 4-5 years away, without any real guarantees no matter how many pats on the back I get right now.

Would you forgo potentially up to $100K a year in take home salary now for the long game of making it to partnership, or would you switch over to another firm that pays NY scale in this jurisdiction and make more money up front.

I know there are a lot of factors, but any thoughts would be much appreciated.

How in demand is your work? Are you fungible? What would happen if you left.

The reason I ask is if you're truly partner material and the firm needs your work, then you might be able to negotiate. I would just do it empty-handed--the only salary negotiations I've heard about in biglaw occur when someone has a better offer elsewhere. So theoretically, you could interview at one of these peer firms in the city, get an offer at NYC market, and then tell your firm you're considering leaving unless they match the other firm.

Of course, there's no guarantee for bonuses, but at least this would help narrow the gap.

[Anonymous User]

Hi all

I am a mid level associate in an international office (low tax jurisdiction) of a US headquartered firm. Up until recently, while not on the NY comp scale, the firm has paid associates in my office around $10-30K below NY for each class level. Given the low tax, the take home math has worked out for me.

However, with the latest rounds and re-ups of NY comp, the gap between what we are paid here and the firm's US offices is getting very big (think almost $100K after bonuses are factored in). Other US based firms in this jurisdiction pay their associates on the NY scale and so there is now a clear gap between my firm and its competitors in this jurisdiction.

I am doing well here and am often told that if I keep going, I have a good "shot" at partnership. However, that is still a good 4-5 years away, without any real guarantees no matter how many pats on the back I get right now.

Would you forgo potentially up to $100K a year in take home salary now for the long game of making it to partnership, or would you switch over to another firm that pays NY scale in this jurisdiction and make more money up front.

I know there are a lot of factors, but any thoughts would be much appreciated.

How in demand is your work? Are you fungible? What would happen if you left.

The reason I ask is if you're truly partner material and the firm needs your work, then you might be able to negotiate. I would just do it empty-handed--the only salary negotiations I've heard about in biglaw occur when someone has a better offer elsewhere. So theoretically, you could interview at one of these peer firms in the city, get an offer at NYC market, and then tell your firm you're considering leaving unless they match the other firm.

Of course, there's no guarantee for bonuses, but at least this would help narrow the gap.

I don't think any associate is truly non-fungible. But I think they would certainly have an unwanted uphill task of replacing someone of my level of experience who wants to be here.

And even if I'm a great associate, I've come to appreciate that being a great associate has little to do with ultimate partnership prospects. Those are all about internal politics / support, timing, business case etc. So can I really say I can make partner here? Not really. I don't think anyone can. But that might be too cynical a thought.

[Anonymous User]

Hi all

I am a mid level associate in an international office (low tax jurisdiction) of a US headquartered firm. Up until recently, while not on the NY comp scale, the firm has paid associates in my office around $10-30K below NY for each class level. Given the low tax, the take home math has worked out for me.

However, with the latest rounds and re-ups of NY comp, the gap between what we are paid here and the firm's US offices is getting very big (think almost $100K after bonuses are factored in). Other US based firms in this jurisdiction pay their associates on the NY scale and so there is now a clear gap between my firm and its competitors in this jurisdiction.

I am doing well here and am often told that if I keep going, I have a good "shot" at partnership. However, that is still a good 4-5 years away, without any real guarantees no matter how many pats on the back I get right now.

Would you forgo potentially up to $100K a year in take home salary now for the long game of making it to partnership, or would you switch over to another firm that pays NY scale in this jurisdiction and make more money up front.

I know there are a lot of factors, but any thoughts would be much appreciated.

How in demand is your work? Are you fungible? What would happen if you left.

The reason I ask is if you're truly partner material and the firm needs your work, then you might be able to negotiate. I would just do it empty-handed--the only salary negotiations I've heard about in biglaw occur when someone has a better offer elsewhere. So theoretically, you could interview at one of these peer firms in the city, get an offer at NYC market, and then tell your firm you're considering leaving unless they match the other firm.

Of course, there's no guarantee for bonuses, but at least this would help narrow the gap.

I don't think any associate is truly non-fungible. But I think they would certainly have an unwanted uphill task of replacing someone of my level of experience who wants to be here.

And even if I'm a great associate, I've come to appreciate that being a great associate has little to do with ultimate partnership prospects. Those are all about internal politics / support, timing, business case etc. So can I really say I can make partner here? Not really. I don't think anyone can. But that might be too cynical a thought.

That's a different tone from your original post, but if partnership prospects are truly that dismal, then it sounds like comp today is king. Interview elsewhere and use that as leverage to see if your current firm will bump you up. If they bump you up, then you can maintain your dismal chance at partnership at the firm that has already been impressed with your work. If they don't, head to greener pastures.

[Anonymous User]

What's the saying that keeps getting repeated, as if it is the correct advice in most instances ? Bird in hand is worth two in the bush. That applies here, too. I would make the move.

[Anonymous User]

I have seen too many people get strung along on the partnership might happen for you! line who end up soldiering away for years and forgoing other opportunities before finally realizing it was all smoke and mirrors that I am now extremely skeptical of it generally. I agree with the pp -- a way to test their interest in you is to get another offer and see if they are willing to negotiate to keep you.

[Anonymous User]

I have seen too many people get strung along on the partnership might happen for you! line who end up soldiering away for years and forgoing other opportunities before finally realizing it was all smoke and mirrors that I am now extremely skeptical of it generally. I agree with the pp -- a way to test their interest in you is to get another offer and see if they are willing to negotiate to keep you.

Yes, why not get another offer and negotiate! After all, you will just be demanding from your current firm a market compensation, which they should be able to give you.