Skaddenfreude: Here’s the Cadwalader Memo
Thanks to everyone who sent this to us — and sorry for the delay in posting it. Here’s the CWT memorandum announcing pay raises for its associates.
CADWALADER, WICKERSHAM & TAFT
From: Link, Robert
Sent: Tuesday, January 23, 2007 3:26 PM
To: MAIL-NY_ASSOCIATES; MAIL-DC_ASSOCIATES
Cc: MAIL-NY_PARTNERS; MAIL-NY_COUNSEL; MAIL-DC_PARTNERS; MAIL-DC_COUNSEL; Freeman, Claudia; Ellis, Patricia; Wallsh, Mitch; Sekler, Mitchel; Pinkerton, Dyana
Subject: 2007 Compensation
In keeping with our pledge to provide compensation that is competitive with the other leading law firms in our markets, we will increase associate base salaries in New York and Washington effective January 1, 2007 as follows:
Class of 2006 - $160,000
Class of 2005 - $170,000
Class of 2004 - $185,000
Class of 2003 - $210,000
Class of 2002 - $230,000
Class of 2001 - $250,000
Class of 2000 - $265,000
Class of 1999 - $280,000
We are also raising the base salary for the members of the Class of 2007, who will arrive in the fall, to $160,000. Thank you for your hard work and efforts on behalf of the firm.
Earlier: Previous announcements of law firm associate salary increases (scroll down through “Skaddenfreude” archives)
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Comments
CWT is the first to clearly state that this raise applies to a non-NY office.
Is that right?
S&C matched
CWT is the first to clearly state that this raise applies to a non-NY office.
Is that right?
XO posted this 15 minutes before you. Link?
You don't have to link to a site if you didn't read it there. Lat doesn't read xoxohth, so he doesn't have to link to anything there (and he never does).
Also, unlike his post yesterday, this one contains no claim to being first with the news.
Xoxohth people, please go away.
David: just heard from two sources that S&C matched. Can you confirm?
Yes, just posted the memo:
http://www.abovethelaw.com/2007/01/skaddenfreude_sc_says_charney.php
Wait xoxohth people can even read? I thought that site was just chattering sub-standard frat boys with dreams of one day going to law school. At best, it seems like a cess pool of monkeys.
Wait xoxohth people can even read? I thought that site was just chattering sub-standard frat boys with dreams of one day going to law school. At best, it seems like a cess pool of monkeys.
what is with this xoxo bullshit. Who cares about that site. who carews if someone posted 5 minutes faster. you are a typical gunner and a major loser. grow up.
(listening out the window for D.C. associates simultaneously cheering wildly)
(listening out the window for D.C. associates simultaneously cheering wildly)
CWT following suit is big news. P/P-wise, they are on par with the others who have raised, but several firms lower down the P/P ladder consider themselves to be peers. Perhaps it is inevitable now that the New York market will be at the $160K and up scale?
XO isn't trolling for credit for Paul Weiss or for S&C. But given that it did post the STB and Cadwalader raises first, it would like credit where due.
anonny--I agree, CWT is big news. CWT is going to be the breakout firm that guarantees this raise to associates at 30-50 law firms in NYC.
I guarantee that there is a large contingent at xoxo who can not only read, 4:20 Anonymous, but beat you as measured against just about any reasonable metric for success at life that you could come up with. Lots of us go there for the oft intelligent discussion and skip over all the racist crap. It has its warts, but it is far from a "cess pool."
In this post, Lat's making no claim that he's the first one to post. Nor did he get the information from xoxo and repost it here.
Thus, no "credit" is due to xoxo. Had he said he was the first and it turned out that he wasn't, maybe there would be some kind of journalistic obligation to correct. Had he gotten the info from xoxo, maybe some obligation to give "credit."
Reasonable people can disagree about whether the warts have taken over the body at xoxo, I suppose.
With CWT matching, what are the odds that TPW will?
With CWT matching, what are the odds that TPW will?
Two raises before I start? Thank you, CWT!! :) :)