Author Topic: Law School (Read 416598 times)

shiframeir · « **Reply #1260 on:** June 06, 2016, 03:50:16 PM »

Quote from: CS91 on June 06, 2016, 03:27:34 PM

Finally. Cravath makes the move to $180k. Now let's hope everyone else follows.

http://www.google.com/url?q=http%3A%2F%2Fabovethelaw.com%2F2016%2F06%2Fbreaking-ny-to-180k-cravath-raises-associate-base-salaries%2F&sa=D&sntz=1&usg=AFQjCNFkSJbn59xoZ5mBg4fRA6i783CgyQ

shkoyach!

AJK · « **Reply #1261 on:** June 06, 2016, 03:55:27 PM »

CS91 · « **Reply #1262 on:** June 06, 2016, 03:57:57 PM »

I'm assuming a bunch of firms are gonna match before OCI rolls around. Make it rain!

elit · « **Reply #1263 on:** June 06, 2016, 04:13:01 PM »

Quote from: CS91 on June 06, 2016, 03:27:34 PM

Finally. Cravath makes the move to $180k. Now let's hope everyone else follows.

http://www.google.com/url?q=http%3A%2F%2Fabovethelaw.com%2F2016%2F06%2Fbreaking-ny-to-180k-cravath-raises-associate-base-salaries%2F&sa=D&sntz=1&usg=AFQjCNFkSJbn59xoZ5mBg4fRA6i783CgyQ

What's it up from?

CS91 · « **Reply #1264 on:** June 06, 2016, 04:22:25 PM »

Quote from: elit on June 06, 2016, 04:13:01 PM

What's it up from?

$160k.

And heard from an unverified source that STB has already matched.

henche · « **Reply #1265 on:** June 06, 2016, 05:20:14 PM »

I am currently resenting all lawyers and students junior to me.

CS91 · « **Reply #1266 on:** June 06, 2016, 05:26:22 PM »

Quote from: henche on June 06, 2016, 05:20:14 PM

I am currently resenting all lawyers and students junior to me.

Why? Senior associates are getting a bump (salary that is; not the type in your signature) too.

henche · « **Reply #1267 on:** June 06, 2016, 05:28:26 PM »

Quote from: CS91 on June 06, 2016, 05:26:22 PM

Why? Senior associates are getting a bump (salary that is; not the type in your signature) too.

most biglaw lawyers only last a few years. and in all events only last 10 years as associate. So if I spend, say, 5 years in biglaw, and got the benefit of the bump for only part of that, then I'm worse off than a new entrant who stays the same 5 years with the benefit the whole time.

Conversely, tuition was also slightly lower for me, but not by the same magnitude.

jj1000 · « **Reply #1268 on:** June 06, 2016, 05:33:57 PM »

Clearly the new lawyers are just more talented and deserve the higher salary

AJK · « **Reply #1269 on:** June 06, 2016, 05:36:14 PM »

Quote from: henche on June 06, 2016, 05:20:14 PM

I am currently resenting all lawyers and students junior to me.

Looking at the glass half-empty.

A bump is a bump is a bump.

henche · « **Reply #1270 on:** June 06, 2016, 05:48:06 PM »

Quote from: AJK on June 06, 2016, 05:36:14 PM

Looking at the glass half-empty.

A bump is a bump is a bump.

I'm looking at it half full. I want full!

CS91 · « **Reply #1271 on:** June 06, 2016, 05:48:14 PM »

Quote from: jj1000 on June 06, 2016, 05:33:57 PM

Clearly the new lawyers are just more talented and deserve the higher salary

Oh, stop it

shiframeir · « **Reply #1272 on:** June 06, 2016, 06:02:00 PM »

Quote from: AJK on June 06, 2016, 05:36:14 PM

Looking at the glass half-empty.

A bump is a bump is a bump.

yup. R Henche wherever u are u should feel some of the bump, and u probably enjoyed the downturn while kids coming in are all working harder (or should be...).

good sam · « **Reply #1273 on:** June 06, 2016, 07:07:11 PM »

Quote from: henche on June 06, 2016, 05:28:26 PM

most biglaw lawyers only last a few years. and in all events only last 10 years as associate. So if I spend, say, 5 years in biglaw, and got the benefit of the bump for only part of that, then I'm worse off than a new entrant who stays the same 5 years with the benefit the whole time.

Conversely, tuition was also slightly lower for me, but not by the same magnitude.

Shall we start a collection fund for you?

churnbabychurn · « **Reply #1274 on:** June 06, 2016, 07:09:14 PM »

What is the "bump" all about?

Is it reflective of higher tuition? More competition for talent?

hvaces42 · « **Reply #1275 on:** June 06, 2016, 07:14:07 PM »

Quote from: jj1000 on June 06, 2016, 05:33:57 PM

Clearly the new lawyers are just more talented and deserve the higher salary

Im sure they think they are.

jj1000 · « **Reply #1276 on:** June 06, 2016, 07:20:01 PM »

Quote from: churnbabychurn on June 06, 2016, 07:09:14 PM

What is the "bump" all about?

Is it reflective of higher tuition? More competition for talent?

Probably a better economy since the crash almost a decade ago.

Ephcc90 · « **Reply #1277 on:** June 06, 2016, 07:33:42 PM »

Took my LSAT today so taking this as a good sign:)

hvaces42 · « **Reply #1278 on:** June 06, 2016, 07:38:35 PM »

Quote from: Ephcc90 on June 06, 2016, 07:33:42 PM

Took my LSAT today so taking this as a good sign:)

SMH

The naivete is astounding.

eliteflyer · « **Reply #1279 on:** June 06, 2016, 07:44:40 PM »

Quote from: churnbabychurn on June 06, 2016, 07:09:14 PM

What is the "bump" all about?

Is it reflective of higher tuition? More competition for talent?

Consider that the last time standard starting salary at biglaw firms was raised (in 2007) tuition at my alma matter was about $41K per year. It's now $61K per year. Average cost of living in NYC (where nearly all of Cravath's lawyers are resident) has gone up by a similarly astronomical factor.

I suspect many competitors will match the increase, but will be curious to see whether offices outside of NYC and other expensive locales get the bump as well.

Quote from: AJK on June 06, 2016, 05:36:14 PM

Looking at the glass half-empty.
A bump is a bump is a bump.

Maybe Henche is planning on making partner shortly, in which case part of the added cost for this is coming straight out of his draw.

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Author Topic: Law School (Read 416598 times)