Biglaw, Money, Real Estate, Skaddenfreude

Bad News for Atlanta Associates?

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Atlanta associates, don’t get us wrong. We are on your side. Here at ATL, we fully support the quest of associates in ATL to obtain just compensation for their law firm labors.
But it’s not a good sign when your local real estate market is going down the tubes, as suggested by an article in today’s New York Times. If you can buy a three-bedroom house for $134,000, the argument that you need a $160,000 starting salary is weakened.
And if “wages [in Atlanta] have been stagnant for much of this decade,” as the Times reports, it impairs your ability to vote with your feet — to tell your Biglaw bosses that, if salaries don’t improve, you’re going to take a different job down the street (even a non-legal one). One big factor placing upward pressure on associate salaries in New York is the need for law firms to compete with investment banks and hedge funds for talent.
Look, money isn’t everything. Working in Atlanta obviously has many non-monetary attractions.
But if more money is what you’re after, maybe you just need to move.
Increasing Rate of Foreclosures Upsets Atlanta [New York Times]

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