Let’s be real the money is the only thing that motivates BIG LAWYERS
Also (and somewhat relatedly) I just barely got a Peloton so I don’t quite feel equipped to post in that thread yet.
This is a post from an anon user on TLS. I wish we had this caliber of NYCto200 posting on LSL tbh.
I just got drinks with a Milbank bankruptcy senior recently. He seems plugged-in and isn't inclined to bullshit but also obviously doesn't have any power whatsoever on this.
Per him, Milbank thought the raise to 190k would really increase the quality of their applicants. He doesn't think that happened this cycle, mostly because everyone matched. Milbank also wants to cement itself as a "top" firm, it knows that it doesn't have a name that rings out (to the casual ear) as much as PW, STB, etc. Per him, not only does Milbank rarely get screeners with "top" candidates, but many of those "top" candidates either cancel their callbacks or ultimately go to a more traditionally known top firm.
The solution, he is hearing, is a substantial raise once the recession starts in earnest because 1.) their bankruptcy group will more than keep the firm afloat and 2.) not everyone will be able to match. He thinks Milbank to 205 in 2020 or 2021, because Cadawalder, Shearman, DLA won't be able to match then and it will distinguish Milbank from other shops and therefore place them in the STB/PW/DPW/Skadden tier and get them quality people accordingly.
Intentionally anon because easy to figure out who I spoke to from my post history.
https://abovethelaw.com/2019/08/as-summ ... r-bonuses/
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