DPW Counsel Salary Data Points Forum

[Anonymous User]

Does anyone have any data points they could share for counsel pay (including any base salary and bonus breakdowns) at DPW or other similarly situated firms. Saw mention of a $700k figure in a prior thread, but don’t think it was ever verified. Many thanks in advance!

[Anonymous User]

Several senior counsels at my V10 verifiably make low seven figures.

[Anonymous User]

To piggyback, other than salary, any data points on other benefits DPW or other V10 firms offer for counsel (e.g., 401k match, estate planning services, etc)?

[Anonymous User]

Bumping in case anyone else has any info on this. Thank you!

[Anonymous User]

Almost more than the actual number I'd be interested to understand how the compensation is structured. If someone says "$700k" does that mean 700k guaranteed? Or a 400k base and a (potential) 300k bonus? 500k, no bonus, but a portion of the revenue generated above $2m up to 200k? In some ways the structure matters as much as the all-in by that point, e.g., I'd be much happier getting 600k per year every year than 400k with the possibility of a bonus from 0-300k where almost half my potential comp is up in the air each year.

[Anonymous User]

At Skadden counsel pay (almost always -- some exceptions for weird cases like laterals getting a look for partner etc) is just a continuation of senior associate pay. The bonuses are a little higher, the base is a little higher. Basically imagine the lockstep associate structure just continued. This is the case for three years. You're counsel 1 the year you make counsel, then you are on a new ladder for 1/2/3. Then after that it becomes more blackbox.

[Anonymous User]

To piggyback, other than salary, any data points on other benefits DPW or other V10 firms offer for counsel (e.g., 401k match, estate planning services, etc)?

At White & Case, counsel receive a firm contribution to 401k (up to about $15,000 per year).

[Anonymous User]

I think we need to be clear that the definition of "counsel" differs from firm to firm. Some firms like mine just use it as a sub-in for senior associate (similar to K&E's designation of partner) at EO Y6. Promotion is pretty much automatic, and these people make lockstep with their class year at other firms despite the title change. For us there's no such thing as a 7th year associate - just a 1st year counsel. I believe Skadden is like this too, but I may be wrong. We have a different position called "special counsel" that is more selective, and pay is more opaque.

At other firms, the counsel designation is only conferred on the later category (i.e., not just automatic promotion at some designated year that's within the typical market lockstep scale). Again, I may be wrong so please correct me, but I think that DPW is one of those firms. Talking about Y7 counsel pay at my firm or at Skadden is sort of irrelevant to what OP is asking. Sorry if I'm mistaken.

[Anonymous User]

At my firm there's a senior associate designation and separately counsel. Broadly speaking there seems to be two groups of counsel, there's the younger ones who were up for partner but instead make counsel, and then there's a bunch of more experienced attorneys who usually cane from in house.

[Anonymous User]

At my firm there's a senior associate designation and separately counsel. Broadly speaking there seems to be two groups of counsel, there's the younger ones who were up for partner but instead make counsel, and then there's a bunch of more experienced attorneys who usually cane from in house.

What year do people normally make counsel instead of partner? That's the relevant question.

Put more simply, I don't think counsel pay until after Y9-ish)is relevant to the question here, because those people are probably close to market and different from those with more experience, where compensation seems to be more opaque and vary more from firm to firm.

[Anonymous User]

At my firm there's a senior associate designation and separately counsel. Broadly speaking there seems to be two groups of counsel, there's the younger ones who were up for partner but instead make counsel, and then there's a bunch of more experienced attorneys who usually cane from in house.

What year do people normally make counsel instead of partner? That's the relevant question.

Put more simply, I don't think counsel pay until after Y9-ish)is relevant to the question here, because those people are probably close to market and different from those with more experience, where compensation seems to be more opaque and vary more from firm to firm.

Same timeline as making partner. Around 9th year. It's not a stop on the way to partner (but supposedly sometimes it is).

[Anonymous User]

Anecdotally, for DPW, there have been a lot more data points of associates being promoted to counsel in years 6-8 (so, slightly ahead of that traditional year 9 mark). I think the idea is that it’s being seen a more of a stepping stone to equity, which both extends the runway slightly, but also acts a retention tool to try to get these associates to hang around longer in the current job market. Not sure about compensation in those instances though.