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This NY Magazine article on biglaw from 1999 could have been written in 2023...

Posted: Thu Mar 09, 2023 4:58 pm
by institutionalized
https://nymag.com/nymetro/news/crimelaw ... ndex2.html

The only thing missing is the rise of Kirkland.

Re: This NY Magazine article on biglaw from 1999 could have been written in 2023...

Posted: Thu Mar 09, 2023 6:19 pm
by Anonymous User
institutionalized wrote:
Thu Mar 09, 2023 4:58 pm
https://nymag.com/nymetro/news/crimelaw ... ndex2.html

The only thing missing is the rise of Kirkland.
Just up the partnership comp by 5x, rates by 5x and associate comp by barely 2x.

Re: This NY Magazine article on biglaw from 1999 could have been written in 2023...

Posted: Thu Mar 09, 2023 10:04 pm
by Anonymous User
Anonymous User wrote:
Thu Mar 09, 2023 6:19 pm
institutionalized wrote:
Thu Mar 09, 2023 4:58 pm
https://nymag.com/nymetro/news/crimelaw ... ndex2.html

The only thing missing is the rise of Kirkland.
Just up the partnership comp by 5x, rates by 5x and associate comp by barely 2x.
Not pushing back on the premise, but it's worth noting that associate comp has tracked with inflation. $114,500 in 1999 translates to $205,600 today, which is ~5% below the $215k firms currently pay first years. I think senior associate salaries have grown more relative to inflation. Of course, partner comp has increased much more relative to inflation.

Re: This NY Magazine article on biglaw from 1999 could have been written in 2023...

Posted: Thu Mar 09, 2023 10:12 pm
by Anonymous User
institutionalized wrote:
Thu Mar 09, 2023 4:58 pm
https://nymag.com/nymetro/news/crimelaw ... ndex2.html

The only thing missing is the rise of Kirkland.
Where are the big 2023 bonuses???