Nationwide Pay Raise Watch: Venable to $160K
Some good news from a tipster over at Venable:
You can finally remove D.C.'s Weirdest Law Firm from your List of Shame. (Does the List even exist now, or is it being revamped for $190K?)A memo was just issued announcing that first-year salaries at Venable will be raised to $160,000 effective July 2008. Sure, we're a tad bit behind the times, but at least we finally came through. The firm also mistakenly upped first-years' salaries for the pay period that ended this week, but in a move that shows their infinite generosity, they decided the first-years could keep this "bonus" money, with the next paychecks going back to the $145K level (until July 2008).
Memo after the jump.
Earlier: Venable: DC's Weirdest Law Firm?
VENABLE LLP -- MEMORANDUM -- 2008 ASSOCIATE COMPENSATION
To: [Associate]
RE: Compensation
Date: January 24, 2008
Your compensation information is listed below:
[redacted]
The firm will increase the salaries of 1st year associates to $160k effective the first full pay period in July 2008.
For all other associates, the salary stated in the compensation memo will be your salary for all of 2008 and includes a 2008 merit increase where warranted, and an additional upward adjustment where warranted that takes into account changes in associate salaries that have occurred in the last several months. Our guiding principle has been pay for performance.
2008 salaries will be reflected in your next paycheck on January 25.
Bonus checks, if applicable, will be mailed directly to your home address and will also be dated January 25.
In keeping with our past practice, [the managing partners] will hold meetings in the next few weeks to review associate compensation and talk generally about the state of the firm. In the meantime, if you have any questions please feel free to call me directly. Thank you for your efforts on behalf of the firm.

is there a better place to work now? everyone knows it's the last honest lifestyle firm around.
Is Venable really that great in terms of QOL?
Venable is not venerable. Venable sucks! If I hadn't accidentaly killed myself masturbating I would take a flamethrower to that place!
Can ATL Lazy Queen update his servers?! What the hell is wrong with this website?!?!
WHAT DOES LAT MAKE IN REVENUE?!
What's the deal with that huge Venable flag perched on the top of their office? A little bizarre. Like they've conquered that corner of the street...all hail the kingdom of Venable and Rosa Mexicana!
Interesting. Maybe this resurrects NYC to 175/190...
Is that a little "registered" or copyright symbol next to Venable's name? wtf?!?
Yes, the QOL is very good at Venable. A lot of part time options and reasonable hours.
10:15, don't blame Lat for the servers. See the "About" page - he is the editor, not the publisher. He generates content, but is not involved with the technological or business aspects of ATL.
Blaming Lat for the servers is like blaming Maureen Dowd if the ink on your Sunday Times is smudged.
You know what, Tom Harkin, we're going to New Hampshire and South Carolina, and Michicgan, and Oklahoma, and Missouri, and California, and then we're going to Washington, D.C. to take back the White House... YEEEEEEEEAAAAAAAYYYYYAAAAH!!!!
All of NY is on the list of shame.
Does anyone know if this applies to all their offices (Baltimore in particular)? The memo isn't clear.
July? Huh?
I assume they are not on the lockstep 160-280k scale.
whatever.
Any bonus news? Several commenters have mentioned Orrick and Latham. Latty Boy?
Baker and Hostetler DC also raised to 160. I don't have a memo, but someone out there should have it. Better late than never!
McDermott is allegedly revising bonuses upwards. We shall see...
I need my own blog, now that I am dead:
1) There is a real opportunity for a legal blog with some risque content. What NYC lawyer doesn't like a little teen girl-on-girl action? throw in a salary raise or bonus gossip? Revenue growth in the quadruple digits. Food channel did it (Giatta, yummy). Is Lat gay or something?
2) What was the final outcome of the "Wrecked Rectum" finger-probe lawsuit? That is a Friday blog for the ages!
3) This so-called "Lat" character needs to have better posts on Friday where lawyers can fritter away their time posting silly comments, spitting coffee out their nose, masturbating with a belt around their neck, etc, until the weekend.
4) Dan Weiser anyone?
5) Two girls, one cup is waaaaay overrated.
6) NYT "picks" McCain. That is real good news for him. I think op-ed could be summarized as "Republicans are freaking morons, but McCain is the best of the lot. So if you are too stupid to pick a democrat, pick mccain." McCain is enthused with recommendation I am sure.
7) Clinton's Unleashed. Big Surprise. Just remember the "trash-talking" that is going on now, so when general election rolls around, we won't have weepy clintons blaming right-wing-conspiracy (or will we?). I love the clinton's and would pay good money for a porn tape of the two...
8) Economic Stimulus my ass! you just gave a bunch of money from tax-payers to non-taxpayers. That is "wealth redistribution" not economic stimulus. I am all for giving other people's money away, but how did Bush lead the charge and cloak under economic stimulus?! Now I am in precarious situation of hoping for collapse in economy; because if this "give my money to poor people" stimulus is linked to an economic recovery, we will be seeing more of it. Poor people cannot stimulate economy becuase they merely pay shanty rent, buy drugs, hookers and other black market goods and services. Couldn't they have just paid poor people $600 to vote in primaries?
9) Guiliani is a lunatic and scares the shiznit out of me. Consider, within 1 hour of my death, idiotic massage therapist calls and olsen twin 4 times and cops none. WTF? I wasn't even dead, until the third call to olsen twin (then I laughed myself to death, all on the inside of my coma, of course).
10) go see my new movie--otherwise my death will be in vain.
11) Damn naomi watts was hot! If she hadn't left me I would definetly be alive. Of course Kiera knightly could have saved me, bitch. Instead I was stuck with ONE olsen twin -- couldn't even pull off olsen twin threesome. I am a miserable failure. Four Feathers?! God, what was I thinking.
12) Wow, I am up to twelve points? if you are still reading, you are a true fan. thanks. post some sort of comment in support of my rant, otherwise this will be my last rant and I will spend the rest of eternity trying to get this leather belt from around my neck...
Heath
Heath to regular rant on ATL! AWESOME!
This is stupid. They are announcing in January that they are raising in July? Do other firms do that?
Can someone post some Heath Ledger nude autopsy photos please?!?
Can someone post some Heath Ledger nude autopsy photos please?!?
This is stupid. They are announcing in January that they are raising in July? Do other firms do that?
Despite the economy, it seems likely NYC will have to raise to 175K now.
$175k?!?! I am not taking a pay cut!
o rly, 1143; thx so much!
TO: 10:13am (aka Venable PR dept.)
"Lifestyle" is relative.
Venable asks that associates bill 1900hrs/yr to remain in good standing. There are exceptions to that requirement for those associates on a part-time/"mommy-track", which works out fine.
At 1950, associates become bonus eligible. A nonscientific survey estimates that this year's average bonus was slightly above 10k. Not too bad for Md, but pitiful for New York where they have small office. It is estimated that 3 out of 5 associates hit the 1950 number firm wide, but that may vary by practice group.
Pro-bono hours are treated as non-billable, but are "encouraged."
To be sure, Venable is not a sweat-shop, but it is also not 9 to 5.
From what I gather from my peers, if you want to make money, work someplace else. If you want to "have a life" Venable may be an option.
Ledger knew too much.
He had to go.
Ledger knew too much.
He had to go.
Ledger knew too much.
He had to go.
11:50 - ?
There's a darker side to this story. Read again, "... and an additional upward adjustment WHERE WARRANTED that takes into account changes in associate salaries that have occurred in the last several months." In other words, current associates are not necessarily going to get a raise commensurate with the increase in first year salaries. You could have first years making as much as, if not more than, 2nd and 3rd years. How f-ed up is that?
I interviewed at Veneble this year and was told they'd be at $160K by the time the summers started. Sounds like the summer associates will get paid more than the first years when they start. Thats fucked up.
My classmate at Venable doesn't pile up too many hours, but he also complained about those bonuses. I also remember that they screwed over a bunch of summer associates from either '05 or '06. Don't trust that place.
My classmate at Venable doesn't pile up too many hours, but he also complained about those bonuses. I also remember that they screwed over a bunch of summer associates from either '05 or '06. Don't trust that place.
Birch Bayh on the Rooftop Bacci Ball Court? Hollah! Let's be honest, this firm's only redeeming quality is its lobbying. Otherwise, quite sub-optimal.
I am a vampire now, bitches!
Here's the real scoop on Venable based on first hand experience. Hours are good, bonuses suck. End of story.
TO: 10:13am (aka: Venable PR dept.)
"Lifestyle" is relative.
Venable asks that associates bill 1900hrs/yr to remain in good standing. There are exceptions to that requirement for those associates on a part-time/"mommy-track", which works out fine.
At 1950, associates become bonus eligible. A nonscientific survey estimates that this year's average bonus was slightly above 10k. Not too bad for Md, but pitiful for New York where they have small office. It is estimated that 3 out of 5 associates hit the 1950 number firm wide, but that may vary by practice group.
Pro-bono hours are treated as non-billable, but are "encouraged."
To be sure, Venable is not a sweat-shop, but it is also not 9 to 5.
From what I gather from my peers, if you want to make money, work someplace else. If you want to "have a life" Venable may be an option.
The mid-levels got screwed. Many will be making less than summers and first years. Compression there is horrible.
any firm that is only now raising to 160 in DC is an f'ing joke. veneble is a crap factory.
Venable is scrapass
Make no mistake, Venable is the SHITTIEST firm in DC. "Venable" in the district is equivalent to saying "I had an offer from Westlaw in Baltimore, but it was recinded".
does this include a subsidized bocchi racket?????????????
They are very much NOT on the lock step scale. In fact after this hike many third and fourth years will make less than first years.
The memo was especially nasty because it was given to all associates--even those getting only 5k or 0 bumps.
There appears to be a new regime and its mission is to reward hours with salary bumps (not much) and minimal bonuses.
when i interviewed, they asked me to sing my school´s fight song ~ shady as the shit that is venable.
one time, during an interview, a Venable interviewer said I had "Nice Yams" I walked out of the interview and haven't looked back since.
Venable definitely is the worst of the "big" DC firms. If you're working there, it just means you didn't get any other offers in the area . . . and if you're staying there, it means you can't get any lateral offers. Simple as that.
To clarify: the raise to $160k did include Baltimore. Venable is a good lifestyle firm. I love all the hating in DC. I went to a "top 10" law school, and I don't know anyone else my year happier at the firm where they work. (or with a better family life).
Also, regarding compression: 1st years to not make more than 2nd/3rd/4th years. The raise might not have been 100% lockstep (i.e. $15k for everyone)(although it was with me), but the salary seems to generally start at $160k for first years, and increase $10k/yr.
Also, regarding the timing, for other than 1st years, the raise was retroactive to Jan 1.
I think everyone's aware that "better family life" is just a wink-wink term for "shitty firm"-- kind of like how the media says "urban" because they don't like saying "black"
12:41 and 9:01 - I resent that you are calling Venable the "shittiest firm in DC" and "the worst of the big DC firms." I had multiple offers from other "big" DC firms and chose Venable and have had lateral offers and have chosen to stay at Venable. I am sure that experiences differ, but I have found Venable to be a very good place to work where the partners care about your professional development and you really can have a life and a great legal practice.
In a recent all hands meeting to explain the compensation screwing that the associates just endured, our fearless leader Karl Racine said that we can always leave. Classy....