Skaddenfreude: The Quinn Emanuel Memo
Capitalization in the original. All lowercase is very appropriate for the youthful, fun, California-based Quinn Emanuel firm.
——-Original Message——-
From: John Quinn
Sent: Wed 1/24/2007 12:14 PM
To: Associates
Cc:
Subject:
Attachments:
beginning february 1 the firm will match the recently announced increases in base salaries for years 2001 through 2006. incomes of more senior lawyers will be dealt with on a case by case basis, given the firm’s partnership track.
John B. Quinn
Quinn Emanuel Urquhart Oliver & Hedges, LLP
(101) 
Comments
damn, no "thank for your hard work over the past year"??? Quinn's email sounds like it hardly wanted to up the salaries. they might as well wrote, "here take it this, are you satisfy now?"
Or perhaps the smallcaps is due to being sent on a Blackberry?
Time for Weil to stop procrastinating and match. Why do they always have to be the last ones to do everything?
I'd hardly say Weil is the "last" when most firms haven't acted yet. Chill out.
why is john quinn's email's time stamp 2.5 hours from now? isn't he on the west coast?
blackberries automatically capitalize, so no, anon2. it's just quinn emanuel.
12:57pm - It's hilarious to see "the man" get caugth up in a bidding war.
If the person who forwarded the email is an East Coast Quinn associate (for example, in NY), then the time stamp totally makes sense.
i worked at quinn, and i can assure you it is neither youthful or fun. a devil in casual clothing, but it is nice to see they are finally rewarding the associates with market rate salaries.
finally? what are you talking about? Quinn has been at 145k and it is a good place to work...
Dewey matched.
i'll second dewey matching.
Dewey -- which offices?
Dewey matched.
i'll second dewey matching.
It seems pretty clear that the NY firms are going to follow suit.
The remaining questions:
(1) Will other LA firms match Quinn's raise? Considering the "Big 3" were already lower than Quinn/Irell and other smaller LA markets, they will almost certainly raise. How much? Will we see the market equalize (in base salary) in the major legal markets, much as it was before last year?
(2) What will major Chicago firms do? Kirkland? Morgan? If they match in Chicago, they have to match in DC.
(3) What will DC firms do? Some of the NY firms with smaller DC offices have already raised the stakes to $160,000. Will this become the trend?
"Dewey -- Which Orifices?"
Dewey matched for US and UK associates.
1:45 PM: you must be a law professor.
After a pleasant respite, our server troubles are back. But in the meantime, you can treat the Dewey news as confirmed. We've heard it firsthand from sources at the firm.
To those who say Dewey matched, post a friggin' memo.
To those who say Dewey matched, post a friggin' memo.
To Anonymous | January 24, 2007 01:45 PM
Several NY firms with DC and LA offices have already matched in all US offices, including those two markets. Quinn is matching those raises, they're not the first mover. LA will certainly go up, DC will certainly go up
The only question is Chicago. This move seems partially motivated by NYC firms wanting to put pressure on non-NYC firms with NYC offices. Chicago firms would be smart to put the same pressure on NYC firms with Chicago offices.
Plus, $25k is more than enough to motivate someone to move from Chicago to Los Angeles, cost of living is pretty close, the weather is already so much nicer, why not get paid more to enjoy it? It will certainly make a huge difference in recruiting this year.
Also, Chicago based firms with NYC offices HAVE to match in NYC and I think Associates in Chicago based firms would be very demoralized to see Associates at satellite offices making so much more.
Finally, as posted elsewhere, PH is new to the Chicago market and fighting to stake a claim, they could establish themselves as a leader by beating all the established Chicago firms to the punch.
There's every reason for Chicago to follow, assuming at least ONE firm is smart enough to make the move. If not come recruiting time, they'll have a hard time talking Law Students to forgo jobs in prestigous NYC, or weather friendly LA.
Anonymous (1:45) -
Which Big 3 are you referring to?
This is really annoying, they have a no copy no forward thing set up on the executive committee email. Any tips on how to get around it? I would send you the memo David but it's not working...
Cut and paste! OR print screen. For G*ds sake people!
2:08 - I believe that's Gibson Dunn, Latham, and Orrick
At Dewey: screen grab -- press print screen and copy into paint or something
It won't let me cut and paste or print screen. I'm not an idiot, I tried everything!
At Dewey: screen grab -- press print screen and copy into paint or something
Anon 2:03 -
Already hearing people talk about moving to Los Angeles if Chicago doesn't match.
It's O'Melveny, not Orrick.
Big 3=Gibson, Latham, O'Melveny
Fried Frank just announced.
LA hasn't even announced their match - hopefully the CHI associates haven't already given their two weeks...
Big 3=Gibson, Latham, O'Melveny
Can someone take a digital photo and send it?
Fried Frank just announced.
We matched.
Orrick is based in San Francisco.
The three LA firms are Gibson, Latham & O'Melveny
"Plus, $25k is more than enough to motivate someone to move from Chicago to Los Angeles, cost of living is pretty close, the weather is already so much nicer, why not get paid more to enjoy it?"
Sorry,but cost of living is not close at all. Housing will cost you about 50% more in L.A., and most other costs are higher as well - take it from someone who has lived in both. There is a reason why Kirkland raised salaries to 145 in LA and not in Chicago. Even at 135 to 160, your money actually goes farther in Chicago; check any online calculator.
At Dewey: screen grab -- press print screen and copy into paint or something
Wow, thought Dewey would be hurting after the Orrick merger collapsed. Lemme see a time stamp on that Dewey memo!
"Plus, $25k is more than enough to motivate someone to move from Chicago to Los Angeles, cost of living is pretty close, the weather is already so much nicer, why not get paid more to enjoy it?"
Sorry,but cost of living is not close at all. Housing will cost you about 50% more in L.A., and most other costs are higher as well - take it from someone who has lived in both. There is a reason why Kirkland raised salaries to 145 in LA and not in Chicago. Even at 135 to 160, your money actually goes farther in Chicago; check any online calculator.
Sorry,but cost of living is not close at all. Housing will cost you about 50% more in L.A., and most other costs are higher as well - take it from someone who has lived in both. There is a reason why Kirkland raised salaries to 145 in LA and not in Chicago. Even at 135 to 160, your money actually goes farther in Chicago; check any online calculator.
Sorry,but cost of living is not close at all. Housing will cost you about 50% more in L.A., and most other costs are higher as well - take it from someone who has lived in both. There is a reason why Kirkland raised salaries to 145 in LA and not in Chicago. Even at 135 to 160, your money actually goes farther in Chicago; check any online calculator.
Wow, thought Dewey would be hurting after the Orrick merger collapsed. Lemme see a time stamp on that Dewey memo!
Fried Frank Folk: If you received the news by email (or as an word processing document attached to an email), can you cut and paste the memo text into the comments?
FRIED FRANK
To: All DC and New York Associates and Special Counsel
cc: All Partners
From: Valerie Jacob
Justin Spendlove
We are pleased to announce an increase to the associate base salary scale as follows:
Class Year Adjusted Base Salary
2006 $160,000
2005 $170,000
2004 $185,000
2003 $210,000
2002 $230,000
2001 $250,000
2000 $265,000
1999 $280,000
1998 $290,000
This increase is retroactive to January 1, 2007, and will be reflected in the February 9, 2007 payroll. Bonuses for 2007 will be determined at year-end, as usual.
Base salaries and bonuses for Special Counsel will be determined on an individual basis in the Spring, as usual.
The Firm's continued success depends upon the support and contribution of all our associates. We are very appreciative of the efforts and hard work of all our attorneys during this fiscal year and we look forward to continued success next year.
2:16
not quite yet - we're still recruiting - can't give notice until we've already got offers. But haven't 3 or 4 firms in LA already gone to $160... I know in Los Angeles the following three are already at $160k: Quinn, S&C, Milbank Tweed -- how can the other firms NOT match that?
2:28
The firms you mention at $160,000 were already at the $145,000 payscale, so they had already been higher (though there was increasing speculation that the Big Three might match the $145,000 soon). That said, I don't think they could sustain a $15,000 difference without destroying morale.
Justin *Spendlove* at Fried Frank?! Nice.
Yes, I think Spendlove may be the Chairman/Managing Partner, etc. It is a real name!
Where is Cravath?
Weil??? Anybody awake at headquarters?
Weil??? Anybody awake at headquarters?
I thought Gibson LA was paying 145K - so much for "one firm"
I work at one of the big 3 - if they don't match the new raise in salaries, morale will be very low indeed. it was bad enough that we endured a $10K difference for an entire year while most of our peers in CA outposts of NY firms got paid more than us, but now they're making $25K more! we don't work any less than our NY counterparts. i think the big 3 would be wise to announce sooner rather than later, as each day they make us wait is another drop in morale (in exponential amounts).
Cravath is hopefully trying to figure out whether to see Simpson's $15K-$30K... and RAISE a little bit more...
I work at one of the big 3 - if they don't match the new raise in salaries, morale will be very low indeed. it was bad enough that we endured a $10K difference for an entire year while most of our peers in CA outposts of NY firms got paid more than us, but now they're making $25K more! we don't work any less than our NY counterparts. i think the big 3 would be wise to announce sooner rather than later, as each day they make us wait is another drop in morale (in exponential amounts).
No, O'Melveny, Latham, and Gibson only paid $145,000 to their NY office (in addition to higher bonuses in NY for some of them), and $135,000 for their domestic offices.
All three firms are very similar, with most of their lawyers in CA, DC, and NY. Thus, if any of those firms make a move, expect them to do it for all domestic offices.
Lat, where are the Dewey/FF memo's?
What does the "Retroactive to Jan. 1st" part mean?
Cravath is trying to decide whether to match or raise. They are seriously debating it at the highest levels. (which is why they haven't announced yet).
Is Morrison & Foerster coming? Have any SF based firms (Orrick) made the jump for their NY satellites?
Big 3=Gibson, Latham, O'Melveny
Since when should these be the big three???
Cravath and Skadden?
What time did Fried, Frank memo go out (officially)? Is Cravath using Pony Express?
Is Morrison & Foerster coming? Have any SF based firms (Orrick) made the jump for their NY satellites?
What time did Fried, Frank memo go out (officially)? Is Cravath using Pony Express? Is Dewey confirmed?
Elvis,
They are the "Big Three" of the Los Angeles/CA market.
2:52--it's an LA thing.
Fried Frank went out at 2:11
how long for the rest of the firms to match!!!!??? i hate waiting!!!!!!!
From: Jacob-Spendlove
To: NY Associates & Special Counsel; DC Associates; DC Special Counsel
Cc: FFHSJ All Partners
Sent: Wed Jan 24 14:08:06 2007
Subject: Associate Compensation
To: All DC and New York Associates and Special Counsel
cc: All Partners
From: Valerie Jacob
Justin Spendlove
We are pleased to announce an increase to the associate base salary scale as follows:
Class Year Adjusted Base Salary
2006 $160,000
2005 $170,000
2004 $185,000
2003 $210,000
2002 $230,000
2001 $250,000
2000 $265,000
1999 $280,000
1998 $290,000
This increase is retroactive to January 1, 2007, and will be reflected in the February 9, 2007 payroll. Bonuses for 2007 will be determined at year-end, as usual.
Base salaries and bonuses for Special Counsel will be determined on an individual basis in the Spring, as usual.
The Firm's continued success depends upon the support and contribution of all our associates. We are very appreciative of the efforts and hard work of all our attorneys during this fiscal year and we look forward to continued success next year.
"It won't let me cut and paste or print screen. I'm not an idiot, I tried everything!"
Chloe, send the schematics of the FF US offices to my PDA so that I can infiltrate one of their buildings and snap a digital picture of the salary increase memo to send to David at CTU ATL! Oh, sorry, had a 24 moment.
"Cravath is trying to decide whether to match or raise. They are seriously debating it at the highest levels. (which is why they haven't announced yet)."
Really? Why would they raise? They have never match Skadden or Wachtell. Why would they now try something like this?
Any word on Boston based firms? How fast/slow were they to match the last round?
Anyone wanna post the Dewey or Greenberg Traurig memos complete with time stamps so I can print them out and carelessly drop them in the hallway of my foot-dragging firm?
Any word on Boston based firms? How fast/slow were they to match the last round?
Any word on Boston based firms? How fast/slow were they to match the last round?
Cravath, PLEASE raise! It's obvious this jump to $160,000 isn't that big of a deal, as everyone and their mother is matching. Let's leave some of these ma and pa shops in the dust!
skadden matched
stop snivelling cravathie and get back in your sleeping bag under your desk...
where is the proof of skadden matching?
I have a sick grandmother, I need the pay raise. Okay, not really.
What firms are left in the top tier....vault/amlaw20 that haven't raised?
Did Skadden match or go above again?
where is the proof of skadden matching?
Did Greenberg Traurig actually raise or was that a false positive? Here are AmLaw 20 firms that haven't raised...
Latham, Baker & Mckenzie, Jones Day, Sidley, White & Case, Weil, MayerBrown, Kirkland & Ellis, DLA, GT???, WilmerHale, O'Melveny, MLB, McDermott Will & Emery, Gibson
Weil will announce in 15 minutes.
how would you know they're going to announce in 15 min??
Weil matched for all US offices. It was annouced at an all-associates meeting.
can someone confirm Weil matched?
there is no skadden memo - they sent out individual emails.
there is no skadden memo - they sent out individual emails.
so redact the skadden email and post it. At least copy and post the part that matters...the increases.
Here is the Greenberg Memo (well, the part that matters):
From: Rosenbaum, Richard A. (National Operating Shareholder)
Sent: Tuesday, January 23, 2007 6:13 PM
To: NYAssoc
Cc: NYALLShld
Subject: Associate salaries
To our New York associates:
We are pleased to announce that our New York office will be increasing associate compensation retroactive to January 1, 2007.
The new standard salary range will start at $160,000 for the class of 2006 (and for new associates arriving with the 2007 incoming class) and increase for each subsequent class through the class of 1999 and beyond. Each associate will be advised of her or his salary by the end of this week.
What time did Weil memo go out? I want to calculate exactly how long it takes my firm to match. I say one hour starting...now.
weil memo was stamped 5:11 EST
is anyone else besides me worried about what this means for hours expectations??? we are already pushed to the brink
Can someone post the Weil memo?
The Weil memo is here:
http://www.abovethelaw.com/2007/01/skaddenfreude_the_weil_memo.php
Confirmed, although no comment from "official" sources (read: Dannhauser and/or PR person).
Boston firms won't match $160 without screwing over the midlevels. That's when they'll start losing people to NYC and CA. Cost of living ain't that different.