LawSchool.Life

Yeah it happens a decent amount.

Chasing prestige is where many people go wrong and why their biglaw careers end abruptly

The economy is good so they can’t really fire anyone right now.

1 million or bust (household student loan debt)

It’s pretty much always safe to assume tight lipped associates = above market comp. it’s an implicit understanding.

Johannes wrote: ↑

Fri Jun 15, 2018 6:34 pm

Johannes wrote: ↑

Tue Jun 12, 2018 8:37 am

This isn’t a top 15 move. At least 50 firms will move including some that aren’t sniffing 1 million rpl or 3m ppp.

Seen/heard enough from non-ny/SF markets with these numbers gonna do match and bonus. This puppy is done - Texas, dc, SF nyc; 80%+ of V100 gone.

Called it.

BullPenn wrote: ↑

Tue Jun 19, 2018 4:59 pm

James Baxter wrote: ↑

Tue Jun 19, 2018 4:50 pm

Latham probably just sends an email out to the partners with voting buttons.

fire 50% of associates y/n

Whoops think I misclicked. Oh well it’s gone now.

They are all moving. You realize how large these bureaucracies are? It’s just red tape at this point.

You guys are so impatient. Everyone’s falling in line.

Johannes wrote: ↑

Tue Jun 12, 2018 8:37 am

This isn’t a top 15 move. At least 50 firms will move including some that aren’t sniffing 1 million rpl or 3m ppp.

Seen/heard enough from non-ny/SF markets with these numbers gonna do match and bonus. This puppy is done - Texas, dc, SF nyc; 80%+ of V100 gone.

Big Red wrote: ↑

Thu Jun 14, 2018 5:23 pm

hm, still waiting on movement from native TX firms right?

You guys look at this all wrong. “Native” means nothing in today’s legal landscape. That was proven during 180k.

the firms skadden considers its peers have a requirement of zero so let's not go overboard and call 900 obscenely low. an associate could easily be below 900 at this point even tho they'll hit 1800-2000 by year end. are there stats on how many associates miss year-end bonus? like actual stats, not ...

bruinfan10 wrote: ↑

Thu Jun 14, 2018 4:36 pm

dude. forget DC, who even works in that swamp anyway. where are the CA firms. this is getting intolerable.

Chilllllll Don’t you know the song and dance yet

The D.C. firms will definitely match salary. If you look back, in 2016 when Covington tried to hold the line on D.C. salaries they went very early on that, before matches from Cleary, STB, S&C, etc. All firms with D.C. Offices that compete for talent to a certain degree. Then eventually Akin, Hogan...

BearCat wrote: ↑

Thu Jun 14, 2018 3:52 pm

When is Wachtell going to 220k? Which will push Kellogg to 250k. None of that matters to any of us but I like seeing big numbers.

Wachtell is at like 400k now. The only reason associates are super tight lipped there is the money is super good.

This isn’t a top 15 move. At least 50 firms will move including some that aren’t sniffing 1 million rpl or 3m ppp.

relax anons. MANY more firms are going to match than the ones posted by smokey. those are all surefire matches this week. the interesting part of this thread (which im getting in early for) will be which firm DEWEYs itself matching in july that has no business matching.

private equity makes a shitload of money. returns are good. Fund II procreates to makes Funds III-XIV after its successful. Once you have that type of money from a booming practice that can be leveraged up a lot, you go buy yourself some groups in hot new non-NYC markets and hope your name/cross sel...

Yeah instead of asking a higher percentage ask when your billable rate will go up...

Public service loan forgiveness for govt work should ease the debt burden significantly. 10 years repaying 6-8% of your salary and then remaining loans forgiven. I became a lawyer basically for the same reasons as you - no other options. It’s fine enough. This is assuming PSLF is still an option. A...

Public service loan forgiveness for govt work should ease the debt burden significantly. 10 years repaying 6-8% of your salary and then remaining loans forgiven.

I became a lawyer basically for the same reasons as you - no other options. It’s fine enough.

thanks anon. valuable data point to have and ill def defer to you as you seem to have personal insight that i dont. chicago as a whole, generally is pretty ties oriented, so this makes sense and could be the current trend of Kirkland.

tough prediction. if partners dont have an incentive to leave, then it doesnt matter what model there is because there will be a de facto institutional model with partners being firm lifers. so the big thing here is kirkland's pay model/culture/ideology being so very different from someone like crav...

I could be off on this, but there has to be a limit on that trend, right? Like obviously it makes way more economic sense to get an attorney that has a few years of experience instead of farming fresh law students, but in order to feed the need for laterals, there will always have to be fresh hires...

yep ive noticed the same trend.