We like your idea of drawing up a list of major law firms that have not (yet) joined in the latest round of associate pay raises.
Such lists have been floating around in the comments over the past few weeks. But we thought we’d try and prepare an “official” LIST OF SHAME.
Law students, law clerks, and potential lateral associates:
When thinking about whether or not to accept an offer from a particular Biglaw shop, consider whether they appear on the List of Shame — along with all the non-compensation-related variables that should be considered when choosing a firm.
But do hold their presence on the List of Shame against them. That’s why we call it the List of Shame!
After the jump, our stab at a List of Shame.
We’ve drawn up these lists based upon this comment, by 11:15 PM, and this one, by commenter “Wasting Time.” We thank these two readers for their research.
We liked Wasting Time’s idea of breaking up the big list into smaller ones, including ones for firms with no New York office or only a small New York office. Please note that the intial data is taken from Wasting Time; we’ve just copied and pasted it.
(So blame WT for any mistakes. Also, the numbering here is from the Vault 100 rather than the AmLaw 100. If you don’t like that, take it up with WT. Or draw up an AmLaw 100-based List of Shame yourself, and email it to us or post it in the comments.)
After reviewing this table, please email us about any errors you see. To support your claim of error, please include one of the following:
(1) a memo or email announcement, if one hasn’t been previously posted here at ATL;
(2) if there is no such memo or email, an explanation of why (e.g., the news was announced orally at a meeting); or
(3) a link to our prior post about the firm in question (if we previously announced that the firm had raised base salaries, and its inclusion on the List of Shame was just an oversight).
After confirming the error, we will update and correct the list. So just check back here, and refresh your browser, to see the latest information.
LISTS OF SHAME
As of February 12, 2007
List of Shame (primary list) (for firms with New York offices with more than 10 associates)
1. Wachtell Lipton [FN1]
40. Baker Botts
43. Baker & McKenzie
45. Boies Schiller
50. Fulbright & Jaworski
58. Vinson & Elkins
70. Hunton & Williams
75. Nixon Peabody
77. Bryan Cave
82. Reed Smith
83. Dorsey & Whitney
90. Baker & Hostetler
91. Thelen Reid
92. Mintz Levin
95. Dickstein Shapiro
98. Kelley Drye
100. Seyfarth Shaw
Firms That Haven’t Raised But Have No New York Presence (so don’t hold your breath)
17. Williams & Connolly
89. Finnegan Henderson
94. Fenwick & West
Firms That Haven’t Raised But Have Small New York Offices (so they can probably get away with cheapness)
69. Steptoe (5 assocs)
71. Patton Boggs (1 assoc)
79. Crowell (5 assocs)
80. Howrey (7 assocs)
87. Squire Sanders (2 assocs)
93. Kilpatrick Stockton (2 assocs)
96. Venable (8 assocs)
18. Gibson Dunn [see here]
19. Arnold & Porter [see here; but we'd love a memo if anyone has one] [FN2]
25. Ropes & Gray [see this comment; we like emails better than comments, because they provide greater accountability; but we did confirm that the comment came from a Ropes & Gray IP address]
42. Freshfields [FN3]
46. Pillsbury Winthrop [see this comment, and this memo]
57. Cooley Godward [FN4]
68. Foley & Lardner [FN5]
72. Perkins Coie [FN6]
99. Preston Gates (now K&L Gates) [see here]
FN1: As one of you notes, “Wachtell is not on either list. For them, does it really matter since they give out such huge bonuses?”
Our view: No, it doesn’t really matter. But for what it’s worth, we’re hearing that WLRK is considering a new base salary structure that will slightly top the market (e.g., $165K instead of $160K for first-years).
FN2: By email, from a verified source at the firm: “I can confirm that Arnold & Porter’s NY office matched the market increases, retroactive to January 1st. You won’t see the memo though, it’s been copy-protected.”
FN3: By email, from a verified source at the firm: “Freshfields shouldn’t be on the shame list; they announced in January.”
The Freshfields memo was attached. To view it (PDF), click here.
FN4: By email, from a verified source at the firm:
“Cooley Godward Kronish raised to the 160K scale in NY, and the 145K scale everywhere else (although Colorado scale is lower after 1st years) last Monday, Feb. 5 via written memo. Not sure why the news hasn’t broken yet.”
FN5: By email, from a verified source at the firm: “Foley & Lardner has raised: to $160k in NYC, +$10K in every other office.”
FN6: By email, from a verified source at the firm:
“Perkins raised to the $145K structure for its ‘major market’ offices, which include Chicago, DC, San Francisco, and LA (and maybe others, of which I am unaware). Perkins stepped up on Wednesday of last week to compensate its associates at the top of the market in the markets that it has a presence, so please remove it from your list of shame.”