Law School

[shiframeir]

At the same time, once the ball starts rolling, which everyone assumes it will, you become second tier in recruiting if you don't.

For example, if Skadden doesn't match, they won't be able to convince a single recruit to choose them over Cravath. So they match.  And so on.

agreed on Skadden (they are surprisingly much less leveraged than we normally assume they are). But check this out to really see where the hurt might be http://www.americanlawyer.com/id=1202755653121/Firms-Ranked-by-Revenue-Per-Lawyer?slreturn=20160506233123 & http://www.americanlawyer.com/id=1202755652747. places like DLA Piper, baker Mckenzie and K&L Gates, and smaller places that have a real NY office but many more lawyers outside NY than in NY (Reed Smith/Bryan Cave) look to be firms that will be seriously hurt by these raises esp outside NY, so they are unlikely to allow a raise outside NY (if at all), esp since they arent top recruiters anyway.
I feel like any firm making over $1M in revenue per lawyer/$550k VPL is prob able to make the raise without a blink, esp since we may see lower bonuses. Those firms won't gain enough proportionally by holding back the bonuses (won't pick up better partner talent for the incremental savings) and in any event won't lose partners for raising since most heavy hitters will also raise, limiting the greener grass options to virtually status quo. 

[EJB]

Edited to highlight the offer 150k part. Never heard of anything like that right out of school.

It's rare but I know a few that took home around that. And it's not that rare a few years in.

[AJK]

agreed on Skadden (they are surprisingly much less leveraged than we normally assume they are). But check this out to really see where the hurt might be http://www.americanlawyer.com/id=1202755653121/Firms-Ranked-by-Revenue-Per-Lawyer?slreturn=20160506233123 & http://www.americanlawyer.com/id=1202755652747. places like DLA Piper, baker Mckenzie and K&L Gates, and smaller places that have a real NY office but many more lawyers outside NY than in NY (Reed Smith/Bryan Cave) look to be firms that will be seriously hurt by these raises esp outside NY, so they are unlikely to allow a raise outside NY (if at all), esp since they arent top recruiters anyway.
I feel like any firm making over $1M in revenue per lawyer/$550k VPL is prob able to make the raise without a blink, esp since we may see lower bonuses. Those firms won't gain enough proportionally by holding back the bonuses (won't pick up better partner talent for the incremental savings) and in any event won't lose partners for raising since most heavy hitters will also raise, limiting the greener grass options to virtually status quo.

Easy for those firms, they can simply make the raise NY only. Problem for these types of firms though, if they do that, they'll lose top talent in non-NY offices like Chicago and LA.

[henche]

Easy for those firms, they can simply make the raise NY only. Problem for these types of firms though, if they do that, they'll lose top talent in non-NY offices like Chicago and LA.

You have to consider, there's a reason why all the firms paying 160 today, are. Not all pay 160, there are still a few holdouts, especially in secondary market cities, and I don't expect those to match now either.

[CS91]

Milbank matched for all offices.

[henche]

Milbank matched for all offices.

And it's in the (mil)bank!  As far as I'm concerned.

My thoughts: Milbank is pretty baller for this. They knew they'd eventually match anyway, so figured they may as well look as if they're the Cravath peer firm.

[CS91]

And it's in the (mil)bank!  As far as I'm concerned.

My thoughts: Milbank is pretty baller for this. They knew they'd eventually match anyway, so figured they may as well look as if they're the Cravath peer firm.

Yup, only a matter of time that the rest follow now that a non-V5/10 matched.

This is literally the only thing keeping me somewhat happy while studying for the Bar. Literally the worst thing I've ever done. 7 more weeks...

[shiframeir]

Yup, only a matter of time that the rest follow now that a non-V5/10 matched.

This is literally the only thing keeping me somewhat happy while studying for the Bar. Literally the worst thing I've ever done. 7 more weeks...

You're doing it wrong. are u doing barbri? why so terrible? should be able to spend the afternoon everyday going for long walks with the Mrs. dont have to get serious until a few weeks before.

[henche]

You're doing it wrong. are u doing barbri? why so terrible? should be able to spend the afternoon everyday going for long walks with the Mrs. dont have to get serious until a few weeks before.

+1

also, do barbri on double speed.

[AJK]

I began studying in earnest after July 4 weekend.

[AJK]

Milbank matching all offices bodes well.

[michael]

Just had associates committee meeting. Managing partner said they will wait and see...

[CS91]

You're doing it wrong. are u doing barbri? why so terrible? should be able to spend the afternoon everyday going for long walks with the Mrs. dont have to get serious until a few weeks before.

+1
also, do barbri on double speed.

Yea, Barbri. Listening on 1.5x-2x depending on the lecturer. But still, between lectures and doing the practice questions/essays, it takes up most of the day. And overall, I'm just sick of studying.

[henche]

Yea, Barbri. Listening on 1.5x-2x depending on the lecturer. But still, between lectures and doing the practice questions/essays, it takes up most of the day. And overall, I'm just sick of studying.

Don't do the practice essays.

just watch videos, take notes at 2x, and do MBE questions. that's what I did and here I am.

[shiframeir]

Don't do the practice essays.

just watch videos, take notes at 2x, and do MBE questions. that's what I did and here I am.

same. can't imagine most people actually do the practice stuff (i didnt even touch mbe questions til july). It's beautiful outside, enjoy it and hunker down after july 4. This is with the caveat that i assume you are a good test taker generally (thus u got this far). 

[henche]

same. can't imagine most people actually do the practice stuff (i didnt even touch mbe questions til july). It's beautiful outside, enjoy it and hunker down after july 4. This is with the caveat that i assume you are a good test taker generally (thus u got this far).

+1

Do you have any idea how bad your schedule will be for the next 5 years or more after this?

This is your last time being outside during daylight. 

[CS91]

Don't do the practice essays.

just watch videos, take notes at 2x, and do MBE questions. that's what I did and here I am.

same. can't imagine most people actually do the practice stuff (i didnt even touch mbe questions til july). It's beautiful outside, enjoy it and hunker down after july 4. This is with the caveat that i assume you are a good test taker generally (thus u got this far). 

I hear you guys. True, I'd probably pass even if I did less, but my thought process is that I'd rather "overstudy" when it comes to the Bar compared to taking it easy and then on the odd chance that I crap out on test day, have regrets. I'd rather have a bit of a worse summer and guarantee (as much as that's possible) a pass.

[CS91]

+1

Do you have any idea how bad your schedule will be for the next 5 years or more after this?

This is your last time being outside during daylight.

I'm fully aware of how bad it'll be.

[henche]

Anyway, shiframeir, what aere your big spending plans for this cash? Gonna get a boat?

[eliteflyer]

Just had associates committee meeting. Managing partner said they will wait and see...

Which firm?