Law School

[AJK]

Presumably, the billing rate raises will be lower than their matching counterparts. Or so they would have their clients and associates think.

[skyguy918]

QE matches.

Just googled that to find out what the Q partner's last name is (pretty obvious in retrospect, but I couldn't think of any Q names for the life of me) only to find that their office is in my building.

[CS91]

QE matches.

And Winston, Debevoise, Cleary, Covington and STB.

[CS91]

We think this way too, and we are balancing our thoughts about interfering vs. providing real-life options.

Normally I'm very against people meddling into a young couple's lives (I don't know what your relation to them is, but I'm usually even against parents mixing in), but I personally think that in this scenario, it has to be done, albeit carefully. This is too high-stakes not to. That's just my opinion though.

[eliteflyer]

DPW has matched Cravath. You heard it here first.

[henche]

DPW has matched Cravath. You heard it here first.

anti-semites

[CS91]

DPW has matched Cravath. You heard it here first.

Actually heard it from someone else first. 

[shiframeir]

Presumably, the billing rate raises will be lower than their matching counterparts. Or so they would have their clients and associates think.

any client that thinks that needs better lawyers to protect them.

[shiframeir]

In choosing a fair basket/deductible on business rep claims for a purchase agreement (maybe 3 people here will know what im talking about) for some reason i always gravitate to 18-based numbers. today my client called me out and asked why i chose 180k on a 16.3M deal. I said 163k would prob make more sense but 180 is a nice round number. I felt like an idiot. but a lively one.

[Ergel]

Is it so bad if he just takes a year off?
I know I'm in a different industry, but I took a bunch of years off before working. I had to talk around it during interviewing, but it didn't set me back

[elit]

Yes. I was a yeshiva guy with no post-high school secular education, and more inclined to a profession than business (part of why I'm a tax lawyer instead of M&A). 

If I was MO and had gone to college, maybe I'd be a doctor or a dentist or an engineer.  If I wasn't frum, maybe I'd be a chef or a ski bum.  But I still think I'm more inclined to law than any of those, and would gladly choose it again from scratch except for the hours.   

Definitely the ski bum

[eliteflyer]

I can't believe this is even (still?) a discussion.

The wife doesn't want to leave during shana rishona because she wants to be near her sister? And for that, she's going to forestall her new husband's career aspirations for a year? Or perhaps permanently by choosing Cardozo over Emory? Frankly, if this girl needs to be persuaded that staying in NY is the wrong decision, there are bigger issues at play. 

This.

[eliteflyer]

In choosing a fair basket/deductible on business rep claims for a purchase agreement (maybe 3 people here will know what im talking about) for some reason i always gravitate to 18-based numbers. today my client called me out and asked why i chose 180k on a 16.3M deal. I said 163k would prob make more sense but 180 is a nice round number. I felt like an idiot. but a lively one.

I have yet to propose such arbitrary baskets on a whim (in my case, in credit agreements). Usually follow (i) a precedent deal or (ii) a number keyed off of CTA, EBITDA or some other business metric.

[shiframeir]

I have yet to propose such arbitrary baskets on a whim (in my case, in credit agreements). Usually follow (i) a precedent deal or (ii) a number keyed off of CTA, EBITDA or some other business metric.

to be clear, i key it off of something, but just round over a lil bit. I don't think its religious, its just some neurotic part of me. I have fought with many lawyers on baskets etc and its always a hahndle anyway, with silly claims of what is "market".

[good sam]

The answer to all things law-school related, is not "42."  It is this graph:



See how there are lots of jobs that pay 160 (as of Monday, 180), and lots of jobs that pay 45-60, but very few jobs that pay anything in between?

Going to a slightly lower school doesn't equate to a slightly lower salary.  It is binary--you either make 180 or you make 60.

Is the graph starting salaries or all salaries?

[henche]

Is the graph starting salaries or all salaries?

starting

[CS1]

starting

A friend sent us helpful information. If anyone has helpful, educational links or sources where we can research facts and details about T20 law schools + advantages in non-NY good starting salaries and long-term jobs, please add to thread. Thank you.

http://www.payscale.com/college-salary-report/best-schools-by-type/law

[shiframeir]

Anybody else enjoying hearing gripes from newly minted partners pissed about the raises? I think i'm going to buy the smallest handmade violin with my raise so i can just enjoy this more

[henche]

Anybody else enjoying hearing gripes from newly minted partners pissed about the raises? I think i'm going to buy the smallest handmade violin with my raise so i can just enjoy this more

Junior partner at my firm asked one of my friends my year if she was excited about the raises, several days before we matched.

I haven't heard any gripes. I've griped that it wasn't a few years ago when I was a first year.

[hvaces42]

NYLJ had an article today that the raise didnt even outpace inflation, let alone inflated student loans from inflated tuition and real costs of living in NY. So it makes life a bit more tolerable, but at what cost? What are the average minimum billable hours at the AM 100? Was it even a $15 an hour bump after 9 years? This is what they are proud of??? I just dont get the allure.