Nationwide Pay Raise Watch: Susman Godfrey Raises (Yawn)
The folks over at litigation powerhouse Susman Godfrey like to toot their own horn. But that’s okay, because they have a lot to boast about. The firm has been tremendously successful, and it pays its people very well (especially in terms of bonuses).
So this news should come as no surprise to anyone. From the Texas Lawyer:
Over the weekend, Houston-based Susman Godfrey joined the growing list of Texas-based firms opting to compensate Texas associates at rates comparable to their New York counterparts.According to firm spokesman Shawn Raymond, the partners at Susman decided on July 21 to raise associate salaries effective Aug. 1 to $160,000 for first-years, $170,000 for second-years, $175,000 for third-years, $180,000 for fourth-years, and $190,000 for fifth years — after which lawyers at the firm are considered candidates for partnership.
“We want to attract the best and brightest at this firm,” Raymond says when asked about the changes.
That’s one short partnership track — which makes up for the relatively small salary increases after the second year. (And considering that pay levels for Texas associates beyond the second year are still up in the air, it’s not clear that Susman is even below market.)
Susman Godfrey Raises Associate Salaries, Effective Aug. 1 [Texas Lawyer]
(23) 
Comments
AUTHOR:
EMAIL:
IP: 12.4.231.218
URL:
DATE: 07/23/2007 11:02:41 AM
first
5 year partnership track? I'm calling b/s. Does anyone know a Susman associate made partner in 5 years?
DC Vault List of Shame (still at $145,000)
17. Williams & Connolly ($165k no bonus)
42. Baker & McKenzie
59. Alston & Bird
64. Holland & Knight
70. Hunton & Williams
71. Patton Boggs
74. Kirkpatrick Lockhart
75. Nixon Peabody
77. Bryan Cave
86. McGuire Woods
93. Kilpatrick Stockton
96. Venable
I've said it in other threads. Other than Williams & Connolly, you don't want these firms ("List of Shame" shops) to raise.
Top 20 firms can afford raises. Firms below that can't.
Notably, almost all of the DC "List of Shame" firms are far down on the list.
why am I in DC?
sorry chump, you are second. the anti-first strikes again.
What is PPP like at Susman Godfrey?
11:17 -- read this (and comments): http://www.abovethelaw.com/2007/05/susman_godfrey_wins_prize_for.php
Hm - $160k in Texas, up for partner after five years, PPP > $3mil...
Anyone know where to send a resume?
Any word from Fulbright, Baker Botts, Akin Gump? Does anyone know when these firms are planning to raise?
What about MidTex? Has anyone heard whether Winstead, Haynes and Boone, Hughes and Luce, Gardere, etc. are going to try and keep up?
SG makes plenty of partners after 5 years. Two recent examples are David Orozco and Victoria Cook, both 2001 grads, both partners in 2006 -- and they both had clerkships before they started.
Thompson & Knight bumped to $160,000
http://www.legalfriction.com/?q=node/179
Can anyone confirm the TK bump?
Not to mention that SG pays about the most generous bonus out there; hours are painful, but work is meaningful and bonuses are regularly 1/2 to 2/3 of base salary, from what I hear...
How hard is it to snag a job @ SG outside of T14, in particular UT?
Take a look at the attorney profiles. http://www.susmangodfrey.com. Unless you have a high position on your school's law review, you're probably out of luck. But you don't lose anything by trying.
I'm on LR now so I'm deff going to give it a shot.
Actually, looks like UT is far and away your best shot at landing an SG job. You've got a bunch of Yale grads, some Harvard grads, and a sprinkling of Chicago, Stanford, Cornell, and Columbia in there. But my unscientific review shows that UT is the most represented school by far, and not just in the Texas offices.
What a joke. And that great quote, "no strings attached." Meaning no strings attached as long as you bill 2800 hours." So the little middie associate at V&E squirms his way to 2000 hours and makes the same base plus a guaranteed def'd comp of some 20-50k. Meanwhile the susman guy works 2800 hours, pulls in a 70k bonus that takes him only 20k ahead of the guy at VE.
Wow, that last 800 hours was really worth it. Thanks for generously paying me that extra $20k for those extra 800 hours, glad I did that.
No strings my ass. Glad to see the firm with $3MM PPP is really putting it all on the line to make sure its associates are well comp'd for their 2800 hours.
You'll be well comped when you make 3 million in five years cuz you've made partner
Obviously it's a 5 year track to non-equity partner.
"Meanwhile the susman guy works 2800 hours, pulls in a 70k bonus that takes him only 20k ahead of the guy at VE."
You don't know anyone at Susman, do you? Associates usually double their salary come bonus time ... much better than any firm except Wachtell.
"Obviously it's a 5 year track to non-equity partner."
Nope. That's the real partnership track.