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Started By
Message
re: Law Firm Cravath Raising Starting Salaries to $180,000
Posted on 6/7/16 at 10:25 am to CorporateTiger
Posted on 6/7/16 at 10:25 am to CorporateTiger
quote:
Not billing hours is one of my greatest joys in life.
Honestly, out of all the things that I could bitch about in respect of this job, the billable hour system is the one thing that I absolutely loathe. 
2
Posted on 6/7/16 at 10:30 am to Mo Jeaux
all my friends in "billable" jobs hate it. i know some programs help track time as you go, but you still have to review it at the least
and you can't bill for your billing memos just inefficient
and you can't bill for your billing memos
just inefficient Posted on 6/7/16 at 10:34 am to Mo Jeaux
quote:
What type of law do you practice?
I used to be a litigator, but now I do real estate and corporate transactions. Being a litigator made me want to open the window of my 44th floor office.
Posted on 6/7/16 at 10:38 am to lsupride87
quote:
is basically frick you money still in NYC
I think your definition of ballin and frick you money is off.
180k definitely isn't ballin and it's not even in the stratosphere of frick you money
Posted on 6/7/16 at 10:40 am to Mo Jeaux
It is the most venal practice in the world. I get to just come in and work on issues at my leisure until I leave.
Posted on 6/7/16 at 10:56 am to SlowFlowPro
quote:
the 2 major things about law that i've learned are that (1) to make a lot of money, you have to take on a TON of work and (2) you don't often create or produce anything when it's all said and done. it's just moving paper in an overly-complex system that was created by lawyers to fulfill #1
(2) is the reason why partners crush it. You can bill 2200+ as a partner but if you're not producing business adequately you're not going to get points. That's just the way it is is, unless you work at a firm that pays bonuses based on seniority.
Posted on 6/7/16 at 10:58 am to CorporateTiger
quote:
Not billing hours is one of my greatest joys in life.
In house. Get some bruh.
This post was edited on 6/7/16 at 1:44 pm
Posted on 6/7/16 at 11:02 am to SlowFlowPro
The only guy I know in law whose job I somewhat envy is one of my friends in patent. He had this awesome gig where he could just grind out his patent applications, but got a cut of the huge plaintiff's settlements that the litigation guys pursued. They had this system I always thought was borderline unethical where you basically bet on the plaintiff's cases in the office by personally fronting the litigation costs for a bigger cut of the recovery. My buddy walked with a 28 year old co-worker to the bank to see the guy deposit his $13 million check on a file. Even with that awesome gig, my friend got tired of the greedy assholes fighting over money and moved to a smaller place.
Posted on 6/7/16 at 11:05 am to Jim Smith
That's what I do heh.
This post was edited on 6/7/16 at 11:10 am
Posted on 6/7/16 at 11:09 am to Bunk Moreland
quote:
They had this system I always thought was borderline unethical where you basically bet on the plaintiff's cases in the office by personally fronting the litigation costs for a bigger cut of the recovery.
we JUST had a discussion about that after the Hogan-Gawker litigation was revealed to be funded by Thiel
i don't think you can do that in LA
Posted on 6/7/16 at 11:16 am to SlowFlowPro
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.
Regarding cost of living in New York, I generally agree that once you get outside of rent, lots of costs can be kept down, however if you want to party, that can get pretty pricey. There are plenty of dive bars in NYC where you can party for cheap, but I'm guessing the type of 20something year old that's wired to work as an associate for a big law firm making 180k probably wants to flaunt that money a bit at the finer establishments.
Regarding cost of living in New York, I generally agree that once you get outside of rent, lots of costs can be kept down, however if you want to party, that can get pretty pricey. There are plenty of dive bars in NYC where you can party for cheap, but I'm guessing the type of 20something year old that's wired to work as an associate for a big law firm making 180k probably wants to flaunt that money a bit at the finer establishments.
Posted on 6/7/16 at 11:16 am to SlowFlowPro
180k to work 90 hours a week and live in one of the most expensive cities in the world isn't all that appealing.
Posted on 6/7/16 at 11:20 am to stout
quote:Im not. 9-10k will be average take home depending on 401k
I think you are underestimating the taxes.
quote:Thats $400 a month in groceries. A $100 a week for a single guy is plenty. The rest he will eat out/entertainment/fun money
Also, there is no way you are living on $400 per month in NYC for food
quote:I put in car note for shits a giggles. Having a car is for an idiot
You also left out parking
quote:Included in the $150 a month cable
internet
quote:You get a free subway card
bus/subway/taxi/uber, toll fees
quote:No it isnt
a $3K per month apartment in the city is a loft type sardine can that's like 400 sq ft.
This post was edited on 6/7/16 at 11:23 am
Posted on 6/7/16 at 11:21 am to lsupride87
You're quickly turning into lunchbox
Posted on 6/7/16 at 11:23 am to TheOcean
quote:I lived in New York so I pointed out comparing it to 70k in BR is assinine. When questioned on it, I responded. Exactly what would you like me to do Jameis?
You're quickly turning into lunchbox
Posted on 6/7/16 at 11:24 am to barry
quote:
180k to work 90 hours a week and live in one of the most expensive cities in the world isn't all that appealing.
It's not only NYC that associates are making 180k as 1st year associates. Imagine knocking down 180k at 25 living in Houston or Dallas.
Posted on 6/7/16 at 11:28 am to Joseph Bockrath
quote:
I'd be shocked if Jones still has partners billing at 190/hour.
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. I guarantee you that there are Jones Walker junior partners who are billing less than some paralegals at places like Cravath or Wachtell in NYC.
Posted on 6/7/16 at 11:29 am to Cold Cous Cous
quote:
Judges chopping down $220/hour fees for fifteen-year lawyers as unreasonable.
wow
and i thought the LASC was bad about this
Posted on 6/7/16 at 11:37 am to Jim Smith
quote:
Imagine knocking down 180k at 25 living in Houston or Dallas.
I bet you he'd be driving a 3-Series or an A4.
Posted on 6/7/16 at 11:43 am to Cold Cous Cous
I recently looked at a list of rates that firms charge my company and shook my damn head at what we are paying some New York firms. No clue how some attorneys justify paying that much to management for a Texas law acquisition.
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