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Started By
Message
re: Law Firm Cravath Raising Starting Salaries to $180,000
Posted on 6/7/16 at 11:56 am to 632627
Posted on 6/7/16 at 11:56 am to 632627
quote:
My wife is an attorney (no pics) and started out as an associate at a firm and hated it. I have an acquaintance that's an associate at Latham Watkins and apparently loves it. Some people are just wired differently
People are definitely wired differently. Know someone who loved the billable hour and used to basically compete with other crazies for who could bill more per year.
But it, like so many other jobs, is in many ways dependent upon your office atmosphere and those you work with. Latham in Houston has a number of ex-VE people who are, for the most part, great to work with and for (at least by reputation anyway). Also depends on sections. Some sections in firms are notorious for toxic partners.
My wife's section is filled with kind-hearted, understanding partners (for the most part) who value and take an interest in her personal life. Which goes into the luck I was talking about earlier.
2
Posted on 6/7/16 at 11:59 am to RedRifle
quote:
$180,000
lol poors. And the majority of lawyers don't make near that.
Posted on 6/7/16 at 12:02 pm to Cold Cous Cous
quote:
Maybe not but last month I researched lodestars in ED La and I was appalled. Judges chopping down $220/hour fees for fifteen-year lawyers as unreasonable.
That's fricking absurd.
Posted on 6/7/16 at 12:05 pm to LoveThatMoney
quote:
But it, like so many other jobs, is in many ways dependent upon your office atmosphere and those you work with. Latham in Houston has a number of ex-VE people who are, for the most part, great to work with and for (at least by reputation anyway). Also depends on sections. Some sections in firms are notorious for toxic partners.
This cannot be emphasized enough. I have been incredibly lucky so far in my career. I have only dealt with one truly toxic partner in my career. Each firm, each practice group and each working group within a practice group has its own personality.
Posted on 6/7/16 at 12:06 pm to Mo Jeaux
quote:
Why don't you get out? You really find your job "soul crushing"?
Numbers don't lie - lawyers are well above average in terms of suicide, alcoholism, and drug addiction rates.
In my experience there are like 10-15% of attorneys who take to it like a duck to water and just don't see why everyone else is complaining. But that's not the majority. Think about how bad a job must be for a 27 or 28 year old making 200K+, with bonus, to just up and walk away. Yet that happens all the time - the turnover rate in these firms is astounding, and the vast majority is voluntary.
Posted on 6/7/16 at 12:07 pm to LoveThatMoney
Ya this is what it looks like my wife lucked into. She lateraled into a group which has lead female partners who value having kids and families so while it will still be more work than her last firm, it won't be the end of the world either if those issues come up.
Posted on 6/7/16 at 12:13 pm to Mo Jeaux
I always hear bad things about V&E Houston. Fulbright had an amazing rep last I heard.
Posted on 6/7/16 at 12:22 pm to RedRifle
How many hours do you work for that $180K
Posted on 6/7/16 at 12:25 pm to CorporateTiger
quote:
always hear bad things about V&E Houston. Fulbright had an amazing rep last I heard
Well that's just wrong. Both have their warts, but Fulbright isn't any better than VE in any fashion.Posted on 6/7/16 at 12:45 pm to RedRifle
quote:
I bet you he'd be driving a 3-Series or an A4.
Posted on 6/7/16 at 12:48 pm to Cold Cous Cous
quote:
Think about how bad a job must be for a 27 or 28 year old making 200K+, with bonus, to just up and walk away. Yet that happens all the time - the turnover rate in these firms is astounding, and the vast majority is voluntary.
Yeah, I get it. I live it. See my follow up post about it not necessarily being so bad per se, but about it also not resembling expectations. Posted on 6/7/16 at 12:49 pm to RedRifle
What's the COL in New York again?
Posted on 6/7/16 at 12:49 pm to VicVinegar03
quote:
lol poors. And the majority of lawyers don't make near that.
The frick you make your first year out of graduate school?
Posted on 6/7/16 at 12:50 pm to Slinky
quote:
What's the COL in New York again?
Why?
Posted on 6/7/16 at 12:56 pm to The Torch
quote:
How many hours do you work for that $180K
Likely billing a minimum of 2000 hours a year. Generally, the higher you bill the better your bonus.
Posted on 6/7/16 at 1:01 pm to LoveThatMoney
I'm just stating what I've had friends say. Never worked at either. There's obviously a lot of selection bias in it since knowing a few people from one ground will skew your perception of that firm around whatever group you know most.
It's always just interesting when a hear such glowing things about V&E online after hearing two friends (different practice areas) experiences. Both have since bailed so things might have changed since.
It's always just interesting when a hear such glowing things about V&E online after hearing two friends (different practice areas) experiences. Both have since bailed so things might have changed since.
Posted on 6/7/16 at 1:11 pm to Jim Smith
That's probably 3000 hours or so in a year, if not more, right? So somewhere in the range of 12-13 hours a day during the week.
My friend is an associate at a firm that is in the Vault top 20, so very similar to this one, and I think that's about what he does most weeks. Usually about 7 AM to 8:00 PM, except for the worst weeks.
My friend is an associate at a firm that is in the Vault top 20, so very similar to this one, and I think that's about what he does most weeks. Usually about 7 AM to 8:00 PM, except for the worst weeks.
Posted on 6/7/16 at 1:14 pm to Keys Open Doors
quote:
That's probably 3000 hours or so in a year, if not more, right? So somewhere in the range of 12-13 hours a day during the week.
My friend is an associate at a firm that is in the Vault top 20, so very similar to this one, and I think that's about what he does most weeks. Usually about 7 AM to 8:00 PM, except for the worst weeks.
I'm not saying this is not true, but I would like to provide a little caveat. Most lawyers that I know of are notorious for exaggerating how much/how long they work. Also, we are not necessarily the most efficient workers either.
Posted on 6/7/16 at 1:15 pm to Keys Open Doors
I don't work in New York and never have, but my understanding of big law in Houston is that billing 3000 is a rarity. Not so rare that you never hear about it, but rare enough to make it remarkable.
Posted on 6/7/16 at 1:17 pm to lsupride87
180 isn't balling in NYC. It's called doing well, but it isn't "balling".
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