Latham Counsel Compensation? Forum

[Anonymous User]

Does anyone know compensation structure for counsel levels at Latham? Current senior looking to lateral and a few places have indicated they'd be open to a counsel title upgrade, but I know for counsel compensation can range all over the place. I have heard before that counsel at Latham can make substantial money, $700k+, but don't know if that was just a rumor or fact.

[Anonymous User]

That figure is right.

[Anonymous User]

That figure is right.

Can you expand?

[Anonymous User]

They showed us a slide of counsel/partner pay and it showed that counsel pay is in that ballpark. Don't have any more color about differences across offices/practice groups, etc.

[Anonymous User]

I don’t think LW associates promoted to counsel make $700s. Maybe all in and after 10 years as career counsel.

[Anonymous User]

I believe starting comp all in for new counsel is just about 600k

[Anonymous User]

I don’t think LW associates promoted to counsel make $700s. Maybe all in and after 10 years as career counsel.

Yeah I don't think this is right. With bonus + base salary I think you're in the ballpark of $650-700k right away.

[Anonymous User]

Thanks all. I'm the original poster.

I'm curious because $700kish comp lateraling into counsel would be a substantial boost to what I believe I would be offered for counsel at my current firm if I stayed (probably high $500s all in) so wanted to just get ballpark figures right.

[Anonymous User]

I don’t think LW associates promoted to counsel make $700s. Maybe all in and after 10 years as career counsel.

Yeah I don't think this is right. With bonus + base salary I think you're in the ballpark of $650-700k right away.

Hard to imagine... I don't know the bonus component, but your base increase from associate level is pretty minimal and continues to be each year. If you assume similar or just a little above current top-line associate bonuses, then I'd expect just below $600 all-in starting as year-1 counsel.

[Anonymous User]

Thanks all. I'm the original poster.

I'm curious because $700kish comp lateraling into counsel would be a substantial boost to what I believe I would be offered for counsel at my current firm if I stayed (probably high $500s all in) so wanted to just get ballpark figures right.

I’m in a similar situation. If I get promoted to counsel in my practice area, I’m expecting just a small increase to my total comp (so just under $600s, I think), but on 2 occasions when I’ve inquired with some friends at other firms who’ve made partner in my practice, they’ve indicated that their respective firms can offer $700 base if I lateraled (with total comp just under $900).

The best year 1 counsel comp I’ve heard of in my practice is $700 base with $300 bonus.

[Anonymous User]

Thanks all. I'm the original poster.

I'm curious because $700kish comp lateraling into counsel would be a substantial boost to what I believe I would be offered for counsel at my current firm if I stayed (probably high $500s all in) so wanted to just get ballpark figures right.

I’m in a similar situation. If I get promoted to counsel in my practice area, I’m expecting just a small increase to my total comp (so just under $600s, I think), but on 2 occasions when I’ve inquired with some friends at other firms who’ve made partner in my practice, they’ve indicated that their respective firms can offer $700 base if I lateraled (with total comp just under $900).

The best year 1 counsel comp I’ve heard of in my practice is $700 base with $300 bonus.

What year is counsel at the firms you're talking about? $700k at Y7 (which is when my firm makes counsel) is way above market, but it sounds like you're talking about positions after the typical associate track.

[Anonymous User]

Thanks all. I'm the original poster.

I'm curious because $700kish comp lateraling into counsel would be a substantial boost to what I believe I would be offered for counsel at my current firm if I stayed (probably high $500s all in) so wanted to just get ballpark figures right.

I’m in a similar situation. If I get promoted to counsel in my practice area, I’m expecting just a small increase to my total comp (so just under $600s, I think), but on 2 occasions when I’ve inquired with some friends at other firms who’ve made partner in my practice, they’ve indicated that their respective firms can offer $700 base if I lateraled (with total comp just under $900).

The best year 1 counsel comp I’ve heard of in my practice is $700 base with $300 bonus.

Mind sharing the firm via pm? In a similar situation at a Latham-peer firm in NY.

[Anonymous User]

Thanks all. I'm the original poster.

I'm curious because $700kish comp lateraling into counsel would be a substantial boost to what I believe I would be offered for counsel at my current firm if I stayed (probably high $500s all in) so wanted to just get ballpark figures right.

I’m in a similar situation. If I get promoted to counsel in my practice area, I’m expecting just a small increase to my total comp (so just under $600s, I think), but on 2 occasions when I’ve inquired with some friends at other firms who’ve made partner in my practice, they’ve indicated that their respective firms can offer $700 base if I lateraled (with total comp just under $900).

The best year 1 counsel comp I’ve heard of in my practice is $700 base with $300 bonus.

What year is counsel at the firms you're talking about? $700k at Y7 (which is when my firm makes counsel) is way above market, but it sounds like you're talking about positions after the typical associate track.

It varies, but the top number above is at a firm that makes you counsel at Y9 (in levfin).

Also, no idea how to PM to an anon ... I'm a total luddite. My impression is there's more leeway for negotiation when lateraling in levfin, especially when a firm is looking to build out capacity (and this was during the boom years of '20 / '21 fwiw).

[Anonymous User]

Thanks all. I'm the original poster.

I'm curious because $700kish comp lateraling into counsel would be a substantial boost to what I believe I would be offered for counsel at my current firm if I stayed (probably high $500s all in) so wanted to just get ballpark figures right.

I’m in a similar situation. If I get promoted to counsel in my practice area, I’m expecting just a small increase to my total comp (so just under $600s, I think), but on 2 occasions when I’ve inquired with some friends at other firms who’ve made partner in my practice, they’ve indicated that their respective firms can offer $700 base if I lateraled (with total comp just under $900).

The best year 1 counsel comp I’ve heard of in my practice is $700 base with $300 bonus.

What year is counsel at the firms you're talking about? $700k at Y7 (which is when my firm makes counsel) is way above market, but it sounds like you're talking about positions after the typical associate track.

It varies, but the top number above is at a firm that makes you counsel at Y9 (in levfin).

Also, no idea how to PM to an anon ... I'm a total luddite. My impression is there's more leeway for negotiation when lateraling in levfin, especially when a firm is looking to build out capacity (and this was during the boom years of '20 / '21 fwiw).

Cahill?

[Anonymous User]

I’m counsel in a Levfin practice at a NY market paying firm, class of 2013. Salary 415K (flat from 2022 to 2023) 2022 year end bonus was 115k. May have to look into lateraling if these figures folks are posting up thread are still available in current market. I know for at least one peer firm counsel receive a partial 401K match up to about $20K/year.

[Anonymous User]

I’m counsel in a Levfin practice at a NY market paying firm, class of 2013. Salary 415K (flat from 2022 to 2023) 2022 year end bonus was 115k. May have to look into lateraling if these figures folks are posting up thread are still available in current market. I know for at least one peer firm counsel receive a partial 401K match up to about $20K/year.

Have you considered lateraling into a JP?

[Anonymous User]

I’m counsel in a Levfin practice at a NY market paying firm, class of 2013. Salary 415K (flat from 2022 to 2023) 2022 year end bonus was 115k. May have to look into lateraling if these figures folks are posting up thread are still available in current market. I know for at least one peer firm counsel receive a partial 401K match up to about $20K/year.

Have you considered lateraling into a JP?

what’s a JP?

[Anonymous User]

I’m counsel in a Levfin practice at a NY market paying firm, class of 2013. Salary 415K (flat from 2022 to 2023) 2022 year end bonus was 115k. May have to look into lateraling if these figures folks are posting up thread are still available in current market. I know for at least one peer firm counsel receive a partial 401K match up to about $20K/year.

Have you considered lateraling into a JP?

what’s a JP?

Assuming JPM. Lateraling into JPM as BigLaw Finance Counsel may give you a better salary than what you're getting.

[Anonymous User]

I’m counsel in a Levfin practice at a NY market paying firm, class of 2013. Salary 415K (flat from 2022 to 2023) 2022 year end bonus was 115k. May have to look into lateraling if these figures folks are posting up thread are still available in current market. I know for at least one peer firm counsel receive a partial 401K match up to about $20K/year.

Have you considered lateraling into a JP?

what’s a JP?

Assuming JPM. Lateraling into JPM as BigLaw Finance Counsel may give you a better salary than what you're getting.

From your current gig as counsel into a junior partnership at another firm.

[Anonymous User]

Interestingly, Gibson Dunn has job postings for lateral counsel in NY and they've put up the salary range due to the new law as $450,000 - $485,000. They say its for Class of 2014+ and appears to be aligned with the idea that counsel salaries are basically a usual lock step bump from the highest Associate levels. Although I assume bonuses are bespoke and not lock step which is where all in comp for counsel can be quite a bit higher than what they've posted.

[Anonymous User]

Double post.