Skaddenfreude: Chadbourne, A Word on Wilson Sonsini, and an Open Thread
Earlier today, we published salary data for Wilson Sonsini. We quoted a poster who was disappointed that the raise was retroactive only to February 1st. We then received this clarification from a source at the firm:
Our raise was made retroactive to February 1 rather than January 1 because we have a February 1 fiscal year start. Compensation matters are always handled as of February 1.In addition, bonuses were 15 percent higher this year because partner profits were up 15 percent. Staff bonuses were also 15 percent higher.
We are very busy at WSGR these days -- cranking on all cylinders!
We also (finally) received confirmed information about Chadbourne & Parke. We reprint it after the jump.
CHADBOURNE & PARKE
From a source at the firm:
"Chadbourne matched what Simpson is paying in NY for all levels (i.e., $280K for class of 1999). We announced it last Thursday, February 1."
"The DC scale appears below. Raises are retroactive to January 1. There was no mass memo to all associates in NY. The word was spread by phone, via class reps. Associates then received individual memos with their salary figure."
"There was an email sent out to DC associates with their new pay scale (see below). Our DC is actually 'above market,' depending upon how you define 'market' in DC."
Chadbourne & Parke: Washington office
Class Annual Salary
2006 $160k
2005 $165k
2004 $175k
2003 $195k
2002 $215k
2001 $230k
2000 $245k
1999 $250k
1998 $260k
(23) Comments
I wonder why there's only a $5K raise between 6th and 7th years.
Isn't it true at WSGR that their new higher billing rates went into effect January 1? Seems a bit hypocritical to start charging clients more on January 1 but only start paying associates more on February 1.
philly - always a bridesmaid, never a bride.
David! Give us some more on the Northwestern SBA scandal (links in the comments to most recent Charney post)!
Who cares about the Northwestern SBA scandal?
It sounds very boring to me - SBA pres offends Latinos Students association, people ask him to resign, he resigns. End of story. where's the "scandal"? Who cares.......
Typical law student shit. I hate law students.
KIRKLAND & ELLIS LLP
MEMORANDUM
Confidential
TO: Firmwide Associates and Non-Share Partners
CC: Firmwide Share Partners
FROM: Thomas D. Yannucci, P.C.
Chair, Firm Committee
DATE: February 7, 2007
RE: Associate and Non-Share Partner Compensation
________________________________________________________________________
The Firm has always been committed to paying our associates and non-share partners compensation at the top of each market in which we practice. In light of recent moves by some firms with regard to base salary for associates, the Firm Committee has approved increases to our associate base salaries, retroactive to January 1, 2007, as set forth below: Class Year New York California Chicago/D.C.
2006 $160,000 $160,000 $145,000
2005 $170,000 $170,000 $155,000
2004 $185,000 $180,000 $170,000
2003 $210,000 $190,000 $190,000
2002 $230,000 $210,000 $210,000
2001 $250,000 $225,000 $225,000
These increases will be reflected in the February 28 payroll.
Appropriate adjustments are also being made to non-share partner draws, effective February 1, 2007. Each non-share partner will be notified of his or her increased draw amount shortly. Increased non-share partner draws will be reflected in the March draw payments.
Thank you again for all of your hard work and dedication.
Thomas D. Yannucci, P.C.
Kirkland & Ellis LLP
(202) 879-5056
(202) 879-5200
655 Fifteenth Street, N.W.
Suite 1200
Washington, D.C. 20005
tyannucci@kirkland.com
WHOA - STOP THE PRESS!!!!!!!! THERE IT IS - THE KIRKLAND MEMO!!!
now can we end all of the salary talk, right?
No way that Kirkland screws DC that way.
No, we can't stop all the talk. People need to start stirring the pot down in Texas.
K&E doesn't end debate about Texas
Re: 3:38
That's right. Why in the world are the Texas firms still silent? We need to put some pressure on them for a raise.
Screwing DC? What about CA 4th, 5th and 6th years?
Anywho, they're all already making out like bandits with their giant bonuses - especially the Chi and DC folks.
That's right ya'll!
JD Cleveland to 135. I would assume Columbus and Pittsburgh as well.
Well, it's hardly "screwing" DC. It's just surprising considering that "matching" (because it's only a match the first two years) in California but not DC hasn't really been the trend (if anything, I get the sense that firms are more likely to pay more in DC). But maybe K&E's CA offices compete more directly with NY-based competitors than their DC office?
JD Dallas or Houston???
Can someone confirm that Bracewell & Giuliani has matched in NY.
I can confirm that the Kirkland number are:
Class|New York|California|Chicago/D.C.
2006 |$160,000|$160,000 |$145,000
2005 |$170,000|$170,000 |$155,000
2004 |$185,000|$180,000 |$170,000
2003 |$210,000|$190,000 |$190,000
2002 |$230,000|$210,000 |$210,000
2001 |$250,000|$225,000 $225,000
Can't confirm B&G, but I can confirm that there was a hot pic of Giuliani slipping his wife the tongue on the cover of the New York Post.
Ropes and Kirkland went completely different directions. Ropes matched the later years in non-NYC offices and Kirkland matched the early years.
THANK YOU for finally getting the Chadbourne confirmation!
I guess it depends on what you think your problem will be -- hiring newbies or lateral retention/hiring. Ropes is concerned about retention and K&E is concerned about lateral retention/hiring.
Could there possibly be a firm less aware of associate reaction than Howrey in DC? I can't understand how any 2L would seriously look at them if they had any other options...