So, whatever happened to Latham?

I often wonder how many practicing attorneys actually post to this board compared to the number of law students. Mostly because a grown-up realizes that the decision to work in Boston, DC, LA, or Chicago as opposed to NYC has to do with a lot more than $15k in base pay. To act as if there is really a 'regional' legal market where attorneys will flow from smaller (yet still major) cities into NYC for a relatively small increase in compensation, COL-adjusted of course, smacks of a superficial understanding of the biglaw industry.

My point is basically this. There might be some people who are in law school who might be a little bit more attracted to NYC because of the $$$. But the folks from the quality law schools (and the quality folks from the not-so-quality law schools) will still go where they want -- if they have good reasons for living in and working in another city, those reasons won't be completely undermined by a few hundred more dollars in each paycheck.

All we knew was that the Latham committee was meeting. Maybe their meeting concluded with what many meetings conclude with: a decision to have another meeting...

Jenner matches Sidley:

http://www.jenner.com/careers_new/careers.asp?ID=000012178803

Patton Boggs this afternoon announced the following salary scale for associates in the Dallas office:

2006 - $145,000
2005 - $150,000
2004 - $165,000
2003 - $185,000
2002 - $195,000
2001 - $210,000
2000 - $220,000
1999 - $225,000

Thank you Jenner! Maybe now the other Chicago firms will get moving.

Any Mayer news?

That's a huge amount of money in Dallas.

That's a huge amount of money for Dallas.

Why, oh why, the need to post "Any Mayer news?"

If you work at Mayer, have you heard any news?

If you don't, has any news gone un-posted? Do you think there is a conspiracy to keep the breaking Mayer salary news a secret?

"windbag"-- The question is not whether $15K will draw people from one market to another, but rather whether it will draw people down the street-- for example, to the DC office of a NY-based firm.

Windbag,

Yes, a 15k difference in pay may not be the deciding factor in deciding between two different markets. However, many (or most) NY firms pay the same compensation to associates in their satellite offices.

A 15k difference in salary may not cause a quality law student to choose NY over SF, but it may substantially influence that student's decision to work for a NY satellite office in SF.

Also, remember, NY firms pay larger bonuses, so the total compensation differential is even more than 15k.

I often wonder how many practicing attorneys actually post to this board compared to the number of law students. Mostly because a grown-up realizes that the decision to work in Boston, DC, LA, or Chicago as opposed to NYC has to do with a lot more than $15k in base pay. To act as if there is really a 'regional' legal market where attorneys will flow from smaller (yet still major) cities into NYC for a relatively small increase in compensation, COL-adjusted of course, smacks of a superficial understanding of the biglaw industry.

My point is basically this. There might be some people who are in law school who might be a little bit more attracted to NYC because of the $$$. But the folks from the quality law schools (and the quality folks from the not-so-quality law schools) will still go where they want -- if they have good reasons for living in and working in another city, those reasons won't be completely undermined by a few hundred more dollars in each paycheck.

Someone is obviously posting windbag's comment over and over again. Lat, please delete them.

Troutman Sanders in NYC just matched...kind of, with 15k raises across the board.

Here's the likely spam source:

http://www.xoxohth.com/thread.php?thread_id=572243&mc=3&forum_id=2

It would be so easy for Latham and Gibson to just jump up and say $145 in L.A. and $160 in N.Y. However, the fact that they are waiting and waiting means that 1) they are considering paying $160 in L.A., or 2) they think someone else is going to jump out to $160 in L.A. and they don't want to look stupid announcing $145 and then changing to $160.

Troutman Sanders just raised every class year $15,000, starting February 1st. It occurred via conference call. Other offices will be having their own conference call.

Re: total compensation.

Even with the larger bonuses -- which is generally the rule in NYC although there are some offices in other markets with comparable bonus levels -- the cost of living in NYC still far exceeds that of almost any other city in the country. It may sound ridiculous but it is true, mostly because of the cost of real estate/rental.

Re: satellite offices of firms based in NY.

I get the argument but I think it reiterates my point. Someone who is working in DC or Boston isn't going to pick up sticks and move to NYC for a nominal net increase in pay, but they might walk down the street. The lateral market is where pay differential could have a bigger impact; also, though, laterals have lifestyle concerns and much better knowledge of competitor bonus policies and other compensation info than law students. Dangle $160k in front of law students in DC and you're perhaps going to do better than your peer firms who are paying $145k. (I say perhaps because in NYC, it's not like everyone can or wants to work at Skadden or Wachtell.)

Re: Mayer.

There is actually a conspiracy to keep 2007 summer associates on this board from finding out if they will get raises next summer. Don't worry, you will get raises next summer. The only question outside of NYC is how much of a raise. Toddle along to class now.

so i guess any dreams of kirkland chi going to 150+ are basically dead?

BTW, Gibson's L.A. associates committee is meeting with the partners in charge at 4:30pm PST thursday, and I guarantee the salary issue will be the primary item discussed.

Maybe GDC & LW will decide their 2007 compensation by 2008.

heard a crazy rumor that Orrick is jumping to 160 firmwide. any inside backers?

Anon 5:17--what's your source?

Winston & Strawn is playing the waiting game.

I work at Orrick and haven't heard a thing about salary increases.

What did Patton Boggs do in NY?

Winston & Strawn is playing the waiting game.

who is that xoxo guy that's begging for a link all the time, anyway?

Patton Boggs has a shell of an office in NY, with no associates except for one that is also in the NJ office.

Anyone hear anything about Dechert?

looks like mayer and kirkland are playing the waiting game. Hoping no one will notice and they will get by without a salary increase.

I heard from a reliable source that Reed Smith compensation committee is meeting to raise rates in nYC

Mayer just matched for Chicago

Class Year Maximum Salary
1 2006 $145,000
2 2005 $155,000
3 2004 $170,000
4 2003 $190,000
5 2002 $210,000
6 2001 $225,000
7 2000 $240,000

Any other offices (Mayer)?

I am sick of hearing comments like 5:25's. If you think Kirkland or Mayer Brown are not going to raise salaries, when Sidley did, you are crazy. They will all match $160,000 in NY and $145,000 in Chicago.

Someone said Kirkland's meeting regarding compensation wasn't until February. So hold your horses.

I miss Lat's law clerk obsession.

MBRM DC is same as Chicago

Troutman all offices?

I can confirm Mayer Chicago

Any scoop on WilmerHale DC yet?

DC offices at $160K (estimated no. of DC associates):
Skadden Arps (176)
Fried Frank (84)
Willkie Farr (62)
Cleary Gottlieb (56)
LeBoeuf Lamb (46)
McKee Nelson (46)
Weil Gotshal (44)
Cadwalader (34)
Clifford Chance (31)
Fish & Richardson (28)
Milbank (26)
Shearman & Sterling (22)
Debevoise (18)
Sullivan & Cromwell (16)
Dewey Ballantine (15)
Paul Weiss (14)
Simpson Thacher (7)
-----------------------
DC offices at $145K (estimated no. of DC associates):
Hogan & Hartson (162)
Covington & Burling (159)
Sidley Austin (109)
O'Melveny & Myers (107)
Akin Gump (63)
Morrison & Foerster (51)
Jenner (23)
Sheppard Mullin (15)

No. of associates comes from firm website (some are rough counts) or from NALP.

Any additions?

Anon 5:31 - please do that for LA!

I know Wiley Rein isn't such a big player, but I'm mad that they haven't raised salaries yet when the partners took home so much money last year.

5:27: I think 5:25 was being ironic. Lay off the coffee, 5:27. Have a beer.

Mayer Houston?

With Skadden, Quinn, and Proskauer at $106k and Strook at $150k in LA, where is Latham LA likely to end up? Dont they have to get up to $160k to save some face? Any comments?

I think that it is time for a blacklist naming the firms that have not matched yet but should have... like B&M, Jones Day, Chadbourne, DLA Piper, to mention a few

Seriously. You can't have Proskauer's little LA office at 160 and Latham at 135/145.

You are shorting Dewey & McKee.

i second the blacklist--
pressure should be heavy on Chadbourne and other NY-based firms... what are they waiting for?

But it's been like that for a while in LA, the little boutiques have been at 145 (Quinn, Irell, Proskauer) for a while now while the big guys have been at 135. It's just much more of a financial hit for the big guys to go to 160 nationally while it's not as big of a deal for the boutiques to do it.

Saying "Mayer just matched for Chicago" by raising first year salaries to $145,000 is like saying you call a $5 bet by tossing in $3 of chips.

Anything from Arnold & Porter yet?

La Law--why not? This is the exact situation in DC with the firms mentioned in the 5:31 post. Until one of the big, national firms (other than Skadden) goes to 160, I can't see LW going there.

Have any Chicago offices gone to 160, other than Skadden which has always been a bit above the rest of Chicago without any big effect?

5:46 - you would think that the Big 3 would all have to match Quinn, and Dewey, and the others, in LA, but if OMM didn't, maybe they don't.

I'm not really sure how much "saving face" figures into the equation. My guess is that this will be more of a bottom line decision. It would seem to present L&W and GDC an opportunity to distance themselves from some of their CA peers, though, so maybe that will figure into the decision.

Maybe if Kirkland moves it will pressure L&W, as they'd be the only v10 to not have moved. But, then again, maybe not.

Have any Chicago offices gone to 160, other than Skadden which has always been a bit above the rest of Chicago without any big effect?

isn't it just possible that LW is waiting to announce its salary bumps on its own schedule? i mean, raising salaries does require a navigation of bureaucracy. should we be reading anything into this so-called "lag time"? i know my LA firm isn't going to announce for a couple weeks, because that's when it decided (long ago) to announce the salary raise. i'm not doubting they'll match market, but i'm just not expecting a rush announcement like we've seen so far.

5:51 - Those of us who don't gamble, don't get the sarcasm.

5:51, proskauer is a boutique now?

I would think Wiley would have to go to $145 eventually. It considers itself a top DC firm and with all the prestige from Blackberry and Fred Fielding becoming White House counsel, it looks a little silly to trail the other "homegrown" DC firms--at least for the starting salary.

No - no other (non-Skadden) Chicago offices have gone to $160k.

5:55 - my apologies, I just meant that they have a smaller LA office making it a much different financial decision than it would be for LW. There have always been a handful of firms in LA (Quinn, Irell, etc.) that are slightly higher than market but the big guys haven't felt pressure to match them and I don't know why now would be any different - even though I really hope they do match.

Dumb question --

Is Profit Per Partner --the actual take home pay of partners?

Mayer just matched NY, retroactive to 1/1/07, with increases reflected in 2/9 paycheck, for all associates employed and in good standing (including having met all requisite performance standards) on that date.

Since when did Proskauer go to $160 in LA?

So it looks like virtually all of the 2006 AmLaw top 25 have now raised:

1 Skadden
2 Latham & Watkins
3 Baker & McKenzie
4 Jones Day
5 Sidley Austin
6 White & Case
7 Weil, Gotshal
8 Mayer, Brown
9 Kirkland & Ellis
10 Piper Rudnick
11 Sullivan & Cromwell
12 Greenberg Traurig
13 Shearman & Sterling
14 Wilmer Cutler
15 O’Melveny & Myers
16 Morgan, Lewis
17 McDermott Will
18 Cleary Gottlieb
19 Gibson, Dunn
20 Simpson Thacher
21 Hogan & Hartson
22 Morrison & Foerster
23 Paul, Hastings
24 Akin Gump
25 Foley & Lardner

Latham & Wilmer are holding out. I can't remember if we've heard anything from Gibson, Foley, Jones Day, or Baker.

6:01:

No, it's not. Partnership works on a share/unit basis. I guess it depends on how firms work, but your pay will reflect your share in the firm. If all partners had identical amounts of shares/units, then PPP would = Partner's paycheck, but I am guessing that most firms vary the number of units partners have (ex. new partners would receive fewer than more experienced partners or those who bring in more business).

nothing from baker. i'm all too keenly aware of THAT.

Patterson Belknap Webb & Tyler has matched in New York.

6:04 - since January 25 see the memo here:

http://www.abovethelaw.com/skaddenfreude/

Thanks 6:07. (especially for not mocking a dumb question~!)

Vinson, Baker and Jaworski matches...

6:07, Gibson has done nothing so far.

6:01 -- This article explains what PPP is and why it can be misleading.

http://www.law.com/jsp/dc/PubArticleDC.jsp?id=1146051862524

Jacoby & Meyers just matched.

"Vinson, Baker and Jaworski matches..." Is that a question or a statement?

Can people please be CLEAR about what they are posting!?!?

kirkland hasn't matched, right?

Can someone clarify/confirm Mayer? Did they match NYC in all offices?

Whoever posted 6:07pm is wrong -- DLA Piper (aka Piper Rudnick) has not yet matched in NY or anywhere else.

"Jacoby & Meyers just matched."

Who thinks that sort of shit is funny? I mean, c'mon.

This isn't Greedy/Autoadmit - it's a blog which has temporarily become the best place to get good info on law firm salaries.

Please, please, please don't waste everyone's time...

6:17 - I didn't write the post but thought it was a little funny - please relax.

Mayer did not match NYC in all offices. They matched Sidley in Chicago - $145 starting.

Where the frig is the Latham announcement?

Mayer's DC and Chicago salaries (145k & climbing from there, not NY scale) are in the 5:26 pm posting above.

6:15:

I have memo in hand for Mayer NY, only. I cannot speak to other offices, although I understand from an earlier post that DC and Chicago have increased to $145k.

nothing from wilmer at all? not even nyc?

6:17 is either (i) David Lat; or (ii) a 3rd year at Latham seriously freaking out.

"But it's been like that for a while in LA, the little boutiques have been at 145 (Quinn, Irell, Proskauer) for a while now while the big guys have been at 135. It's just much more of a financial hit for the big guys to go to 160 nationally while it's not as big of a deal for the boutiques to do it."
First off, Prokauer was not at 145 for a while. They had been paying their LA associates 135, and they are a tiny office in LA anyway.

Kirkland, which is a sizeable office in LA went to 145 a month ago in CA, and this is where the market was going before STB announced. If K&E decided 30 days ago that their CA associates (and notably NOT their DC and Chicago associates) should be paid on the NYC scale, I don't see how they can change the tune now. I think if K&E does go to 160, Latham has to follow.

can anyone confirm that KIRKLAND matched? if so did they bitch out and just go to 145k in chicago

Who said the matched?

I'm 6.17. I am neither a law student nor a Latham associate. What I am is someone who has spent WAY too much time on this blog the last week hoping to see the raise filter down to mid-sized firms in NY (and I know I'm not the only one).

Everytime I see a firm name I don't recognize, I get a little shot of joy, which is regularly followed by dismay when I Google the firm and find they (1) folded three years ago, (2) are a fictional paper company, (3) are a pharmacy chain, or (4) are a personal injury ambulance chaser.

I apologize.

BTW, Bendini, Lambert, and Locke just raised to 175K in Virginia.

Kirkland has not matched anything in Chicago yet.

6:24

If possible, can you post Mayer NY memo

thx

If there really was a call this morning among Partners and Associates at Latham, then they run a pretty tight ship.

Methinks no leaks means likely no such meeting. Especially to not even get an update that "no decisions were made."

wow, 6:35, i hope you're joking, but you definitely were my laugh of the day.

i just heard that crosby heafey and gray cary just matched. can anyone confirm?

crosby heafey? They haven't existed since 2004???

crosby heafey? They haven't existed since 2004???

Montgomary Burns matched 160k for all nuclear plant employees (except Homer).

Does anyone know about the market in Shelbyville???

Butler Binion matches...

6:43 --who are you "hearing" this from? From associates at those firms? details pls!

Patterson memo?

Guys this is not funny!!!

>:(

Don't post fictional law firms because it makes me mad when I look them up and they don't exist!!!

Will V&E go to 145K in Texas?

Can someone confirm Simpson?

Since when did Morgan Lewis match??

6:58: At least 145K. Maybe even 150K..

Are these salaries per year or per week?

Thanks

Any information about Morgan Lewis?

6:59 - Morgan Lewis matched in NY right away and is waiting like everyone else I assume to see what happens in the other markets before making a move. I'm sure 145 is a given but I figure most firms are hoping that is where it stops and are waiting to see essentially what Latham does, at least in LA.

Morgan Lewis matched the 160k scale in NY, but has not announced other offices yet.

Dewey Cheatem & Howe matched

awesome!!!!!!!!!!

6:57 - You should really stop looking up fictional law firms. I don't see where that gets you.

Lawl at 7:03...

I'm sure 6:57 is making fun of 6:35

6:57 - if you haven't heard of the firm, it's not worth looking up. you must chill.

6:44 and 6:57: again, your continued lack of humor / self awareness is making my day.

yes, crosby heafey long ago became part of reed smith. it's a joke. likewise, gray cary is now part of the DLA piper conglomerate.

so i'll help you all out in advance. you should NOT look up the following firms, which for our purposes are red herrings:

-Hale and Dorr
-McCutchen, Doyle, Brown & Enersen
-Crane, Poole & Schmidt
-McKenzie, Brackman, Cheney & Kuzak
-Shaw Pittman
-Winthrop, Stimson, Putnam & Roberts
-The Venture Law Group
-Brobeck, Phleger & Harrison
-Rogers & Wells

7:12 -- LMAO @ Crane, Poole & Schmidt!

Speaking of Brobeck, I think we should observe a moment of silence for the firm that started all these salary wars 7 years ago.

Don't forget Coudert!

WholeFoods just matched!

WholeFoods didnt just match--they're doing double coupon Tuesdays!

I thought Coudert dissolved????

Why would they match? What's the incentive?

WholeFoods is holding off until they see what the Dems will do with the minimum wage...

Stop it! When you post something like "WholeFoods matched" it makes me think that WholeFoods is hiring for legal services now and paying top rates! Then I have to go to their website and find that they still only sell groceries and at just above minimum wage. You guys are playing with fire with these hoax posts!

Seriously though, whats the deal with Baker's NY office?

7:31 -- Seriously, I heard Dunder-Mifflin did raise -- $170k for first years and minimal compression. Ever thought about Scranton? I hear its lovely in the Spring.

Baker McKenszie is matching, Baker Botts in not.

baker NY took in a whole bunch of coudert's people when they dissolved, summer associates and all.

7:34 -
How do you know Baker Botts is not going to match eventually?

Baker Botts will match when the Texas market moves...

Skjerven Morrill just went to 160K

What's the deal with Atlanta? Anyone have any news from any firm in the southeast?

6:35, 6:39 and 7:00: you made me laugh.
the exceptionally slow pace with which firms are joining the match-race this week creates serious need for the humor-posts while those of us whose firms are holding out reload, reload and reload the page hoping to hear we got a raise

7:42: Fish is @ 160K in ATL

Gunderson Dettmer up'd the ante with a $175k starting salary and guaranteed $60k bonus.

Can someone post the Mayer memo? Thanks!

Harry Palms matched...

Is Gunderson post true?

No. They compete with Dunder (The Office)

i think your lawyering skills are as bad as your singing. that's a no for hollywood.

I think the really interesting move has been Fish & Richardson. They are really bursting with success and it's amazing that they are among the few who have gone to 160 in all the smaller markets (Austin, Atlanta, Dallas ...). I have many friends with Masters/PhD in engineering disciplines who are in law school, and most of them are going to Fish & Richardson. It's a firm to keep an eye on.

Montgomery Ward just matched.