Associate Bonus Watch: Ropes & Gray Goes for a Half-Skadden, With a Twist
Ropes & Gray has announced the bonus structure they will be paying to junior associates across all of their offices. While the structure is nominally a Half-Skadden payout (which might work just fine for Boston based attorneys), there are a bunch of interesting caveats.
The basic structure is as follows:
Class: Base Salary: Bonus: Total Compensation2008: $160,000: $17,500 (prorated): $177,500
2007: $160,000: $17,500: $177,500
2006: $170,000: $20,000: $190,000
But there are some opportunities for top Ropes associates to make a lot more, while associates who are low on hours get nothing:
As you know, we have an activity target of at least 1,900 billable and pro bono hours to be eligible for a bonus. This year, we have increased bonuses from the above scale for associates who worked substantially more than the targeted amount, and decreased rather than eliminated bonuses for many associates who worked substantially less. We did not apply the hours target to associates in the class of 2008 because their integration into client matters is still in progress. We have also adjusted bonuses in unusual circumstances where an associate’s performance review is substantially below our expectations.
More after the jump, including the full Ropes & Gray bonus memo.
If we’re reading everything correctly, this memo means that high billing Ropes associates will not get shafted like attorneys at Cravath. But that bonus money will not come out of partners’ pockets. Instead, top billers will be eating what low billers left behind.
It is junior associate versus junior associate over at Ropes. We imagine that everybody will get that message for 2009.
More senior associates at Ropes have always had their bonuses determined on a case-by-case basis. That will not change this year, though once again overall compensation is expected to be less than last year:
For more senior associates, bonuses will, as always, be determined and communicated individually. These bonuses will reflect personal contribution on a qualitative and quantitative level, prevailing compensation in the geographic markets we serve, and market conditions. As with more junior classes, bonuses will not include the special, one-time bonuses paid in 2007.
Overall, the scheme seems designed so that Ropes can keep their superstars happy, keep profits per partner high, and put the onus squarely on the backs of low billers to up their production for 2009. It’s better than layoffs, it’s better than a straight Half-Skadden, and I suppose fostering competition for work among associates is a good business idea.
I just wouldn’t want to be caught in the crossfire.
The full Ropes memo is below.
ROPES & GRAY — MEMO — 2008 ASSOCIATE BONUSES
We are announcing standard bonuses and total compensation for associates in the classes of 2006, 2007 and 2008 as follows:
Class: Base Salary: Bonus: Total Compensation
2008: $160,000: $17,500 (prorated): $177,500
2007: $160,000: $17,500: $177,500
2006: $170,000: $20,000: $190,000
Consistent with other major law firms, our 2008 compensation does not continue the special, one-time bonus element that was part of 2007 compensation. Also, like the vast majority of other law firms, we are paying standard annual bonuses on a scale that is approximately 50 percent of the 2007 scale. These changes reflect conditions in the markets in which we practice and the recent decline in overall activity levels.
As you know, we have an activity target of at least 1,900 billable and pro bono hours to be eligible for a bonus. This year, we have increased bonuses from the above scale for associates who worked substantially more than the targeted amount, and decreased rather than eliminated bonuses for many associates who worked substantially less. We did not apply the hours target to associates in the class of 2008 because their integration into client matters is still in progress. We have also adjusted bonuses in unusual circumstances where an associate’s performance review is substantially below our expectations.
For more senior associates, bonuses will, as always, be determined and communicated individually. These bonuses will reflect personal contribution on a qualitative and quantitative level, prevailing compensation in the geographic markets we serve, and market conditions. As with more junior classes, bonuses will not include the special, one-time bonuses paid in 2007.
Like you, we are disappointed that 2008 will not conclude as a more robust year for legal services. We understand that changes in the market bonus structure, specifically decreases in the annual bonus scale and the absence of the special 2007 one-time bonuses, will generally result in lower year-over-year total compensation for associates. While we cannot predict when activity levels will return to normal, we are confident that our diversified practices and client base will serve us well during the downturn, and will also permit us to participate fully in the upturn when it materializes.
All bonuses will be paid by direct deposit on December 24, 2008. Associates must be employed by the firm on that date in order to be eligible for bonuses. Compensation for associates who joined us during the year or who were on reduced schedules will be prorated appropriately.
We are proud of the extraordinary team of lawyers who comprise this firm and of their shared values and teamwork. On behalf of the entire partnership, thank you for your contribution and professionalism.
Earlier: We’re Super: Thanks For Asking
Prior ATL coverage of associate bonuses.
(168) 
Comments
IT"S A MUSTACHE KINDA MORNING
pene a la vodka
second
Third.
wait- anyone there longer than 2006 doesnt get a standard bonus...?
Seventh.
"decreased" for associates who worked "substantially less" than 1900?
interested to hear from ropes people how many people are in this category and how this is playing out.
I give Ropes a lot of credit for not being annoying like every other stupid firm that begins their bonus memos with "We are pleased to announce ..." And they are somewhat apologetic. Well done Ropes.
"it's better than a straight Half-Skadden, and I suppose fostering competition for work among associates is a good business idea."
Interesting that MysTTTal is opposed to lockstep compensation, and that he thinks the hours based bonus of places like WEMED and Schulte Roth and Pillsbury Madison Sutro is a superior to the lockstep systems favored by S&C, Wachtell, Skadden, and other firms.
very well-played
tenf
Ropes is GAY 8>
Ropes is, and always will be, the cream of the crop in terms of class.
fourteenf
Elie - You've misread the email.
"decreased rather than eliminated bonuses for many associates who worked substantially less"
I.e., even those under 1900 are getting a bonus, it just won't be a full bonus.
Word on the street is that Skadden, for all its good bonuses, is rescinding offers to its "Skadden Fellows."
I think that's fair. Make bonuses based on performance, not just year.
This is how all firms should run bonuses. Lockstep is a thing of the past.
Nicely done, R&G. This is a remarkably candid and apparently fair position in the current market. Those who had busy years don't get screwed because other parts of the firm were dead. And, those that have no work keep their jobs but don't get a bonus.
far superior method to stupid nyc lock-step firms
This seems fair so long as this has always been done this way.
Why did no litigation associate complain back when the M & A people were bringing in loads of money and driving their bounues up?
Elie -
I am not the sort of person that would type out personal attacks, but seriously, did you really go to HLS?
Try reading the memo before you post. Very clearly everyone at Ropes is getting a bonus: "and decreased rather than eliminated bonuses for many associates who worked substantially less."
The firm is going out of its way to be fair to those who aren't making their hours because their practice area is currently slow.
Ropes is great place to work. This is a classy, responsible and fair approach given the circumstances.
And for the record, Ropes does not cultivate "superstars" or encourage "competition" among associates.
15 is right. It says that if you're under 1900, you still get a bonus but it is reduced (in an unspecified manner). But, missing your hours will NOT mean that you get zero bonus, unlike at some other places.
WLRK numbers yet?
25th.
16, what? Aren't the Skadden fellows some sort of separate charitable foundation? Like they fund kids to work for nonprofits? You mean they're withdrawing their funding?
"We have also adjusted bonuses in unusual circumstances where an associate's performance review is substantially below our expectations" can mean zero bonus
The post about Skadden fellows is just incorrect. What constant nonsense is posted on these comments....
This seems pretty generous considering that Ropes is not even a New York based firm.
But maybe that is now a good thing in this environment? It'll be very interesting whether other non-ny based firms (most of which have traditionally lower rpl compared to ny firms) will be able to/will decide to match. Ropes seems to be the first of this bunch (aside from those that announced months ago) to have announced.
They have some really classy stuff in Texas.
Ropes & Gray handled that with lots of class. Well done.
And Elie... reading comprehension, my friend....
Have to agree with the majority her e - this is a nice example of the kind of decent, straight-forward communication we'd like to see from all firms. Ropes is a class act; my firm could learn something from them.
They have some really classy stuff in Texas.
I'm going to order a half-Skadden with a twist at the firm party bar.
Bonuses based on merit and actual production? WTF is the world coming to? Say it ain't so. Time served should be the only factor in determining bonuses.
29: considering NY-based firms are losing a huge swath of a traditional client base -- financials -- and are negotiating more blended rates and lower fees for many other clients, it's about time that NYC-based firms are brought down to earth. Lawyers at NYC offices are no smarter than lawyers in Boston, DC, Chicago, LA or San Fran. Perhaps now their financials will more accurately reflect this reality.
Wouldn't it be simpler for Biglaw factories to just cut out all the professional pretense in these reward structures and reward quantity (paid overtime) and quality (poor performers get fired, overachievers get to stay during layoffs and may even get promoted) like at every other factory in the country....
38
Ropes and Chains
Ropes and Chains
Better: Ropes and Gray or its nemesis WilmerHale?
As your comment is substantially below any thinking person's expectations, 27, if you worked at Ropes, we would give you nothing for a bonus.
Clever 39- Did you make that up yourself?
I bet you also take credit for making up the phrase "Go Big of Go Home."
You Suck.
This sound eminently fair - well done Ropes.
Did anyone else catch this: "All bonuses will be paid by direct deposit on December 24, 2008. Associates must be employed by the firm on that date in order to be eligible for bonuses."??????
Now I know that R&G's memo seems really classy, but is there a chance they might make some cuts before the 24th? It doesn't seem out of the realm of possibility...
Ropes is a completely worthless third-rate firm. Any firm that has as one of its main recruiting bullet-points "first year associates get their own offices," clearly does not have it's shit together.
"All bonuses will be paid by direct deposit on December 24, 2008. Associates must be employed by the firm on that date in order to be eligible for bonuses."
Does this mean "we might yet fire you before then," or "if you're planning on leaving the firm, wait until then if you want your bonus"?
I beat you to it 47.
-45
Well looks like we know what WilmerHale and Goodwin Procter are going to do.
ctrl+c
ctrl+v
44 - it all depends on how much upside potential there is. If you worked 2,400 and they only give you a measley 5k or so, then it's more of an insult. Working 500 hours over the "cutoff," as a junior associate, brings in 100-150k dollars in revenue.
No offer 46?
45 -
No. This is standard language. They're not firing people to avoid paying bonuses, it's just being clear for people who, if choosing to leave, often do right after bonuses are paid out.
The NY bashing would be more convincing if Ropes wasn't pouring resources into its newish NYC branch.
46 -- check you're understanding of contractions. your being unprofessional
45 - That language is standard on Ropes bonus announcements. It just means if you are dumb enough to leave in late December, you don't get a bonus. They aren't going to lay anyone off.
Ropes in NYC has no work - hordes and battallions of 1st year associates sitting around . . . will probably go under in 2009
45,
That language is standard for bonus memos (at least R&G's memos). There have been no cuts yet and none are expected.
46,
Where did you learn how to use apostrophes? Clearly somewhere completely worthless and third-rate.
46 - you clearly know nothing about Ropes, since first years don't get their own office, and they pride themselves on that. Whether you like or not aside, it's how it's been for many years, so I don't know what firm you're talking about.
53: Yes, Ropes is trying to expand its NYC office. But it's also expanding Boston. See its impending move to the Prudential building.
Ropes in NYC has no work - hordes and battallions of 1st year associates sitting around . . . will probably go under in 2009
Ropes in NYC has no work - hordes and battallions of 1st year associates sitting around . . . will probably go under in 2009
Are Skadden fellows losing their positions? That can't be.
58, they pride themselves on it? The level of Ropes koolaid in Boston is ridiculous.
Ropes is a classy firm. They recently upped their one-year clerkship bonus to $50,000 in all offices (I think it was $35k before except in the NY office, where it was $50k) and they didn't even announce it. They just put it on their website and now it is so.
Ropes in NYC has no work - hordes and battallions of 1st year associates sitting around . . . will probably go under in 2009
41- Wilmer; and it isn't particularly close.
Ropes is a classy firm. They recently upped their 1-year clerkship bonus to $50k for all offices (up from I think $35k in all offices but NY where it was $50k). They changed that fact on their website and that was that.
WilmerHale on the other hand, only says that they give a "competitive" bonus, whatever that means: http://www.wilmerhalecareers.com/associates/judicialclerks/
Hey -- does Ropes in NYC have any work? or are there hordes and battallions of 1st year associates sitting around?
Does anyone think they'll go under in 2009?
"We have also adjusted bonuses in unusual circumstances where an associate's performance review is substantially below our expectations." - so even poor performers get bonuses?
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53 - "resources" being given to NYC are to expand its already successful IP litigation practice. The firm seems to have no desire to have the office emulate ny firms that primarily represent ibanks, etc.
Are Skadden fellows losing their positions? That can't be.
Does anyone knwo how Kanye West did on SNL?
Did anybody see Kanye West on SNL? I missed it, how was he?
Stay classy, Wilmer.
So basically they are ending lockstep bonuses. Other than the associates who are killing themselves with hours the bonuses will suck for everyone else. Aren't only TTT firms non-lockstep?
Are Skadden fellows the fellows who work at Skadden D.C.? Cause I've heard from excellent sources that that place is like Kanye West on SNL: hordes and battallions of 1st year associates sitting around
Does anyone know how Kanye West was on SNL?
Yes, 92, only TTT firms like Wachtell, Boies, Quinn Emanuel, Kirkland and others use non-lockstep bonus systems.
SkaddenDC associates sit around and play WoW all day. They are very good at it.
Mr. Ropes: Do you fancy a mustache ride?
Mr, Gray: Yes, please. Here's your nickel.
Not sure what you're missing, 92. Lockstep provides the floor, and high billers get above the lockstep amount. That's the best system you can have.
i don't read this as ending lockstep. it is an explanation for what happens to associates that don't make minimum hours (and gives a possible advantage to those that exceed).
"lockstep" firms might pay no bonus to associates that don't meet hours.
you bill 1900 = market bonus = lockstep, no?
for associates before 2006 there is no lockstep, but itlooks like it was always that way at ropes.
98, associates are getting bonuses based on hours and performance reviews. Some are getting little to nothing. Seems like non-lockstep to me.
95, lockstep firms: Cravath, Skadden, Paul Weiss, Debevoise, Cleary Gottlieb, Weil, Milbank, etc.
My Sheep is way bigger that your puny little sheep, bro. Sorry
Joel Rifkin
Hey MysTTTal,
Why don't you get off your fat ass and figure out the bonus situation over at CWT.
Lockstep firms = Highly leveraged sweatshops where the back-breaking work of associates contributes to huge PPPs.
Now, ask yourself where you would rather be. Those prestige points aren't exchangeable for cash.
The bonus over at CWT is all of their hot NYC female associates to bang.
99, Lockstep = get the same bonus regardless of hours. This is how it works at Debevoise, Paul Weiss, Cleary, etc. So if you billed 1400 hours that year you'd still get the same bonus as your class; Ropes would pay you less. That's not lockstep.
Wilmer is going to do exactly the same thing, even with the decreased but not eliminated bonuses for low performers.
95: Not so subtle trolling for Boies, Quinn Emanuel, and Kirkland.
105:
i see. i thought that lockstep firms had hours minimums that could disqualify you from bonus.
thanks,
-99 (aka clueless 3l)
107: Does trolling = destroying a commenter's point?
this is basically the same system as Schulte, right?
Ropes has always been lockstep for first through third years, discretionary after that. BUT, the non-lockstep bonus has always equaled what NY is paying, plus or minus some small amount ($5k to $20k depending on year) for superstars/laggards. So nothing really new here re: lockstep/non-lockstep. The only thing new about this announcement is the hard 1900 hour level (it used to be considered unseemly to disclose that number, but that has been changing over the past few years).
Some others are saying we should go South because that's where the power and money is going. http://endofesq.com/?p=692. Maybe NY and Chicago are yesterday.
Every firm should do bonuses like Dreier did: Make every associate strip down into their underwear and then enter a giant glass box with money flying around; however much you could grab in 1 minute was your bonus.
Sorry for speaking ill of the deceased, but how could those working there not see the writing on the wall? What a crazy story, just cannot get over it.
46 -
There are 2nd and 3rd years at Ropes who do not have their own offices. Not exactly an adverstised "perk".
In the eyes of Elie, firms can do no right.
46 -
There are 2nd and 3rd years at Ropes who do not have their own offices. Not exactly an adverstised "perk".
You are all awful people that will be on the unemployed lines very soon trying to tell somebody about your "skills". Why can't you admit that your careers suck and you spent a fortune on a legal education that is declining in value everyday.
Who is this guy Elie who gets assailed every time he posts.
wilmer > ropes
This is a terrible policy (though obviously smart for Ropes). Nobody is going to have enough hours to hit 1900 at Ropes this year. This way, Ropes can pay bonuses way below level and not get called out on it.
Wilmer, who lost one of its top rainmakers in its Boston office to Ropes just this past summer, is not > than Ropes.
Wilmer is better for litigation and slightly more selective than Ropes, but both garner similar levels of respect, which is to say, much more respect than most NYC sweatshops
119 -
You are misinformed. Almost everyone I know at Ropes made 1900 hours this year, and a substantial percentage billed significantly more. Ropes is being generous by not eliminating bonuses for those who billed under 1900, and by offering better than market for those associates who stayed busy throughout the year. Year after year, Ropes has paid at or above market bonuses (including last year, when non-NY associates received full special bonuses), and has distinguished itself with a classy and thoughtful memo (as opposed to just following the herd with a "We are pleased to announce...").
119 - where are you getting this information? Are you just making this stuff up? (I'm referring to "nobody is going to have enough hours to hit 1900 at Ropes this year").
119 is making it up.
Or, 119, why don't you prove you're a Ropes associate and tell us all what happened at Ropes this past Friday?
119 here. On Friday, Brad Malt called an associates meeting in the big conference room on 32 and showed up wearing nothing but grape dental floss around his privates and a sun-bonnet. Not an especially productive meeting, but it did boost associate morale.
That's what I thought.
121: From what I've heard / encountered, selectivity seems to vary with market. Wilmer DC is definitely more selective than Ropes DC. Ropes Boston tends to be slightly more selective than Wilmer Boston -- however, this is mitigated by the size of the Ropes Boston summer class (enormous) vs. the size of the Wilmer Boston summer class (comparatively small). Nevertheless, on average, Ropes Boston seems to get summers from higher ranked law schools than Wilmer Boston does.
Not true, 127. Many Ropes Boston summers in the past typically didn't get offers at Wilmer Boston, while Wilmer Boston summers also had offers at Ropes Boston.
127--what about Ropes NYC?
Ropes NYC is less selective than Ropes Boston, but most of the summer class consists of IP folk.
if you just started work at ropes and failed the bar exam, do you still get a bonus?
124, what DID happen at ropes this past friday?
Ice storm-related power outage disrupted data systems firm wide.
128: Not sure where you're getting your information, but there were lots of Ropes Boston summers who received Wilmer Boston offers. It would be difficult, near impossible to figure out which group was larger as a percentage. Therefore, comparing the law schools of the summers at each firm is an easier / better way to determine selectivity / quality. In this category, Wilmer Boston lags behind.
Wilmer wins in D.C., Ropes wins in Boston, tie in NY. Everyone satisfied?
135 summarized in one sentence what I'm sure posters will continue to argue about for another 100 posts. Good job.
Baker Botts Boston is so much better than Portland Proskauer
It's apples and oranges to compare WH and Ropes in NYC.
HLS 2L here who probably could have done a bit more last year. No offer from Ropes-Boston, yes offer from Wilmer-Boston. Know two others in the same boat. I'm still feeling ok about my life, overall. Though an offer from Ropes would have been nice as I was into the idea of not having to decide as a 3L what kind of lawyer i want to be when I grow up.
135
correct
Wilmer Palo Alto or Ropes SF?
I'd concur; WilmerHale in DC over Ropes; Ropes in Boston. Even in DC, however, Wilmer is less first-rate than it used to be. Top two firms in D.C. are Covington (all around) and Williams & Connolly (litigation only). No doubt.
Ropes' DC office is tiny. Cf. WimerHale's. Not comparable.
141
Ropes operates a single office with 2 "locations"-- SF and Palo Alto. See "SF / Palo Alto" on NALP form (was looking at lateraling there if wife matched for residency at UCSF). They have a growing IP practice, like Ropes everywhere. Probably stronger than Wilmer out there. Is anyone keeping score?
For what it's worth, I was turned down by Ropes (DC) and accepted at Wilmer (DC). I have to say that I was upset about the ropes thing, but I wouldn't give up Wilmer for it, now that I've been there. I would have to say (based on what I've seen and heard) that Wilmer in Boston is <<<<< Ropes in Boston. I'm glad, however, to be where I am.
By the way, lit and appellate is really why Wilmer does so well in DC.
You're a rich firm, and you've gone too far
'Cause you know it don't matter anyway
You can rely on the half the associate's money
You can rely on the half the associate's money
I t's a bitch firm but it's gone too far
'Cause you know it don't matter anyway
Say bonus but it won't get you too far,
Get you too far
And don't you know, don't you know
That it's wrong to take what is given you
So far gone, on your own
You can get along if you try to be strong
But you'll never be strong
'Cause
You're a rich firm and you've gone too far
'Cause you know it don't matter anyway
You can rely on half the associate's money
You can rely on half the associate''s money
It's a bitch firm and it's gone too far
'Cause you know it don't matter anyway
Say bonus but it won't get you too far,
Get you too far
High and dry, out of the Boston rain
It's so easy to hurt others when you can't feel pain
And don't you know that a love can't grow
'Cause there's too much to give, 'cause you'd rather live
For the thrill of it all, oh
You're a rich firm, and you've gone too far
'Cause you know it don't matter anyway
You can rely on half the associate's money
You can rely on half the associate's money
It's a bitch firm and it's gone too far
'Cause you know it don't matter anyway
Say Half Skadden but it won't get you too far,
Say Half Bonus but it won't get you too far,
Say Half Bonus but it won't get you too far,
Get you too far
138 - how are WilmerHale's and Ropes's NYC offices like apples and oranges?
Can anyone comment on how Ropes NYC is doing?
WilmerHale's NYC office isn't anchored and dominated by its IP group like Ropes' office is (b/c of Fish & Neave)
149 is correct. Ropes NY is a glorified IP boutique. Wilmer NY is much more diversified in its practice areas.
Anyone who thinks that Wilmer Boston is even comparable to Ropes Boston works at Wilmer.
Ropes is head and shoulders above any other Boston firm.
Anyone who thinks that Wilmer Boston is even comparable to Ropes Boston works at Wilmer.
Ropes is head and shoulders above any other Boston firm.
Gotta say that as much as I like Wilmer, I lost some respect for that shop when they dropped good ole Lloyd from the name to add the silly Bostonian folk.
In order to be able to eat dinner at Wilmer associates need to explain what client need is keeping them at the office. What a joke.
I am curious to know what range of hours is considered "substantially above 1900." 2100? 2300? 3000? They could do anything with that statement. Too vague.
What range of hours is considered to be "substantially above 1900" - 2100? 2300? Higher?
My impression is that its closer to 2300 than it is to 2100.
153 = EPIC FAIL
WilmerHale's official name is still Wilmer Cutler Pickering Hale & Dorr
The issue is less about moving away from lockstep and more about not communicating that move to associates. The bonus letter states:
"As you know, we have an activity target of at least 1,900 billable and pro bono hours to be eligible for a bonus. "
"As you know" is an interesting choice of words since it is the first communication stating that you must meet 1900 to be eligible for a bonus. The only formal communication to associates about 1900 hours was that it was the new target billable. Wondering associates who were not being given enough work were reassured throughout the year that 1900 was a "target" or "soft" billable hours and that bonuses this year would be lockstep.
159 -- Perhaps those associates to whom you refer should not have sat in their offices waiting to be "given enough work." There was plenty of work to be done this year.
Ropes is a great firm. Classy all the way. Always has been.
Ropes is a great firm. Classy all the way. Always has been.
"The issue is less about moving away from lockstep and more about not communicating that move to associates. The bonus letter states:
"As you know, we have an activity target of at least 1,900 billable and pro bono hours to be eligible for a bonus. "
"As you know" is an interesting choice of words since it is the first communication stating that you must meet 1900 to be eligible for a bonus. The only formal communication to associates about 1900 hours was that it was the new target billable. Wondering associates who were not being given enough work were reassured throughout the year that 1900 was a "target" or "soft" billable hours and that bonuses this year would be lockstep. "
This is NOT TRUE. The 1900 billable requirement was communicated very plainly to associates a year ago. It was made clear during last year's bonus round that the 1900 target is a requirement to be paid the full bonus for your class year.
Well done. Hopefully the other NY based firms (who are STILL WAITING for the rest of the sheep before announcing) will follow this lead.
70-86 = the most truthful person on the blog.
Ropes NYC is definitely more than a glorified IP boutique. Before the Fish merger, there was the Reboul merger which brought about 80 attorneys primarily focused on private equity deal work. Currently, the firm's bankruptcy practice is based in New York, most non-Boston deal work is brought in by NY, and the firm has been aggressively growing every department in the NY office. For example, the 2008 Tax class in NY is over twice the size of the Boston tax class. If you talk to any senior partner in NY or Boston, they will tell you that the firm's future is in NY, since there is not much room left to grow in Boston.
Also, talking about our DC office is kind of pointless. It is small, and mostly exists to house our government enforcement and environmental law practices. The plan is to expand the new midmarket private equity centered office in Chicago to be larger than DC in a few years.
Anyone saying that noone in the NY office will hit the hours target clearly has no idea what they're talking about. Almost everyone I know hit the target for last year. We're still busy in NY too. In addition to the IP lit cases, we have a decent amount of mid-market private equity deals going, along with our insanely busy RIC practice. Even Bain is more active in the current market than the other large PE groups.
64, that's because other firms in Boston (at least Goodwin and I think Wilmer) were paying 50k last year, while Ropes was only paying 35k. Of course they don't want to draw attention to that
Proskauer Rose is dying!