blech. first.

firsty

$115,000/yr in Hartford is WAY more than $160,000 in NYC. You could literally pay off $100k in loans over three years while living like a KING.

#2, you were not first. You were second, and therefore racist.

In other dismal news for the law industry, Bob Hammersmith, a solo practitioner headquartered in Hoboken, told his secretary to buy the generic toilet paper as a cost-cutting measure. The end times are truly here.

Arse Robster

4 - it is now 105k.

I don't know what kind of economic forecasters they have over at Robinson, but where I come from an upwards-shooting Dow means a recession is over. It has been over a month since we hit bear market lows and the Dow 's resiliency has established that this isn't a flash in the pan bear market run, but the start of a new boom. History will not look kindly on Robinson here. One can only hope that other firms have more sense.

9 --> wrong alter, broheim!

The Curse of Thelen has a simple explanation. There were a lot of incompetent partners at Thelen who could not manage a law firm and who had no business sense. That is why Thelen went bust. A law firm that hires those partners will experience the same results.

Oops!

The Curse of Thelen has a simple explanation. There were a lot of incompetent partners at Thelen who could not manage a law firm and who had no business sense. That is why Thelen went bust. A law firm that hires those partners will experience the same results.

Robinson Cole is still more prestigious than Kirkland.

N. Wacker Stud

Notwithstanding this Connecticut firm, the question is, who if anyone would/could be a "market-leader" in cutting salaries.

Cravath (and Latham) won't because they've taken enough heat already.

Wachtell won't because their raison d'etre is that they pay more than anyone else. If they cut base comp, everyone will just assume they'll make up for it in bonuses and won't match.

Skadden won't because they're looking golden right now, after years of being considered as less elite than their peers (rightly or wrongly).

I just don't see DPW, STB, Cleary or Debevoise doing it - these supposedly "nice" places to work have never (to my knowledge) been on the leading edge of a cut, and I don't see them undercutting their recruiting and morale-boosting schtick in one fell swoop.

That leaves S&C, which is still suffering from the scandals of late. I don't see them wanting to get back in the business of attracting bad press. They raised clerkship bonuses to help put that behind them; this will cast them in a bad light again.

In sum: maybe some big NY firms will do it (e.g., Shearman, White & Case, Milbank), but I don't see any of the tip-top shops doing it, and therefore the rest of the V20 that sees itself as those firms' peers won't do it either.

If you work for this CT firm or GT, or McGuire Woods, I'm sorry.

Ahem.

The firm has like 3 or 4 Kent Scholars from CLS. Not too fucking shabby.

@9 - You have brought shame upon your entire family.
EPIC SNAIL

I don't mean to be one of those arrogant sounding, "who the hell is this?" people, but I've never heard of this firm, can someone tell me what their focus or specialty is?

9: Looks like Dow Is Up Guy has gone off the rails. Time to throw in the towel. And how many usernames do you have anyway?

My core competency is prestige.

N. Wacker Stud

Notwithstanding this Connecticut firm, the question is, who if anyone would/could be a "market-leader" in cutting salaries.

Cravath (and Latham) won't because they've taken enough heat already.

Wachtell won't because their raison d'etre is that they pay more than anyone else. If they cut base comp, everyone will just assume they'll make up for it in bonuses and won't match.

Skadden won't because they're looking golden right now, after years of being considered as less elite than their peers (rightly or wrongly).

I just don't see DPW, STB, Cleary or Debevoise doing it - these supposedly "nice" places to work have never (to my knowledge) been on the leading edge of a cut, and I don't see them undercutting their recruiting and morale-boosting schtick in one fell swoop.

That leaves S&C, which is still suffering from the scandals of late. I don't see them wanting to get back in the business of attracting bad press. They raised clerkship bonuses to help put that behind them; this will cast them in a bad light again.

In sum: maybe some big NY firms will do it (e.g., Shearman, White & Case, Milbank), but I don't see any of the tip-top shops doing it, and therefore the rest of the V20 that sees itself as those firms' peers won't do it either.

If you work for this CT firm or GT, or McGuire Woods, I'm sorry.

18 - I think the internet might be able to help. In fact, it told me that they just expanded to Providence. How can they be struggling?

Coincidentally, I'm traveling to Hartford next week for oral argument against a Robinson & Cole associate. I'm considering needling him about the salary cut before the argument to get under his skin, but would that be crossing the line? I'd take him to lunch later if it really hurt his felings, assuming that there's somewhere there worth going to.
--Heading to Hartford

Salary watch: who care?

what's a robinson cole?

I think I might have a delicious tossed salad for lunch today.

Methinks the same unemployed associate is the 4-5 different avatars that post regularly.

Can we have a separate blog that reports only on shitty firms? Separate but equal, of course.

Although not a peer firm, Robinson Cole's John Lynch has displayed tremendous courage and leadership in adopting my "hybid tough love" package in dealing with the infirm economy. John, here is a word of advice: come June, cut another $10K from their salary. Where will they go? They will have to swallow the cuts since in this economy you control who gets a paycheck. I only pray peer firms will follow John's example. I believe John boy is on his way to making lawyer of the week for a second time. Well done John.

Robinson Cole did have a beard.

Goddamn. My secretary just had another screaming road warrior again. That's it. She's finished.

Partner Emeritus, I know who you are...

Partner Emeritus = KennyPowers

N. Wacker Stud

#30, you forgot to tell use the Dow is up.

The ship be sinking...

The way I see it, Shooter, we've only just begun.

@34, you are an asshole.

robinson cole--maker of fine shoes since 1956

4 - You cannot live like a king in Hartford.

$105k/yr in Hartford as a first year is still a ton of money. Hartford County was recently one of the POOREST counties in America. You could live like a KING!.

-poster #4

A king of a shithole. Enjoy that.

The way I see it, Shooter, we've only just begun.

Elie/Kash/Lat,
You know, this is as good a time as ever to do an expose on the plight of lower-tier law grads (who pay just as or almost as much as T14 grads --> upwards of 175k principal at 8%) but will never even *sniff* 160k.
Jesus, guys, these fucking "institutions" of learning are robbing these poor kids. They will never pay off the debt, and they will never discharge their debt...just so some fucking softbatch former circuit court clerks who don't want to hack Biglaw can teach. The common sentiment in this economy is that not even T6 grads are guaranteed jobs where they can service their debt without having to live in their parents basement..can you imagine what its like to be a 2009 graduate of Western New England?
And yet, law school applications are apparently up this year. http://lawschool.about.com/b/2009/03/24/law-school-applications-up-hiding-out-in-law-school.htm

Some news on the Shipman & Goodwin layoffs of incoming associates please

Dear ATL, this is not helpful at all. If a firm in the top 50 does this, then please let us know. We don't need to hear about every small struggling law firm.

Some news on the Shipman & Goodwin layoffs of incoming associates please

@45, It is my opinion that you were probably laid off by Goodwin and that is neither dignified nor prestigious.

N. Wacker Stud

Robinson Cole is being prudent. The firm was not fooled by the March runup in the Dow, which was a classic bear market rally. The Dow is below 8000 again, and will continue to trend downward for a while.

I was sodomized last night...and thoroughly enjoyed it.

N. Wacker Stud

If the only thing the law firms are cutting these days is salary, I will have to switch my avatar from a guillotine to a paper cutter.

2L's...

We're screwed.!

There will only be 50% offer rates this summer in BigLaw. Then there will be a flood of 3L's reinterviewing at OCI. But 0% will be hired.

2L's are going to take the fall for all the money that was wasted for the 3L deferrals. 75k for nothing.

2L's are law's lost generation. Run for the hills...

The national firms in Hartford (stupidly) pay WAY over "market" for CT - and yes, even as a fairly junior associate at one of those places, you can live like a "king" - 3500 sq ft house, whatever foreign auto you choose, country club membership. And if Hartford is not cool enough for you, you can make the short drive into NYC on the weekends and stay at the Waldorf if you want.

However, the bubble is bursting on these places - Thelen is gone, Dewey is gone, Dechert and Bingham are downsizing, perhaps gone by next year. The jig is almost up. It was fun while it lasted....

How about some responsible reporting for a change, a$$clown. "The list of firms cutting associate salaries keeps growing." Not a single -major- firm has come close to cutting associate salaries yet. Lift yourself out of the gutter...

Would anyone like to make balloon knot animals?

The Dow is Down Guy: apparently you haven't been reading the news. Wells Fargo, Goldman Sachs and JP Morgan have all posted stronger than expected earnings for the first quarter and jobless claims declined last week. And this is on top of the good news that has been pouring in since March. Cutting salaries now flies in the face of common sense. The recession is gone. The new boom is here.

Quinn just stole something from Akin.

A55 L08StER

19-Robinson Cole is a law firm and they perform legal work for clients

What is a glory hole you ask?
A Glory hole is a place like Kirkland, or Shearman, or Bingham.

N. Wacker Stud

Actually, 41, Hartford County is the 116th wealthiest county in the country according to 2008 statistics with a median household income $10,000 higher than the national average. But don't let the facts get in your way.

Sincerely,
Someone Who Will Never Live in Hartford Anyway

53 is right - I used to work at one of those places. It was sweet for a while, but it was almost so good it was a joke. So out of whack with the Hartford market. And most of those people don't need to work very hard (by NYC standards). Sounds like some of those firms are finally wising up.

It's a very well-known firm in New England. Get your heads out of your asses, seriously.

FETUS!

I am rich and live in New Canaan. The rest of you are all idiots.

41/61 - The City of Hartford itself is extremely poor. The nicest suburbs (Avon, Simsbury, Farmington) are extremely rich.

So there you go.

#41 and #61 - maybe #41 was referring to the City of Hartford, which is in the lowest tier (at least by observation) in terms of median income.

#46 - completely idiotic comment. R&C is within the NLJ 200 list and has over 200 attorneys. R&C has a very broad and diversified practice and has some very good lawyers. P.S. I don't work at R&C but know people there.

#65 - I live in Greenwich and I am a Socialist.

Why cut salaries when you can permanently freeze them like LATHAM. Also, just fire more associates to hike up partner draws.

-I am safe biatches

66/67, 61 here

Don't know why I really care, I don't live in Hartford nor will I ever, but I felt the need to respond to 41 anyway. He said Hartford County, so I responded to that. Even if the city is poor, it doesn't support his point that you can "live like a king" working in Hartford on $115K. I looked into the towns you referenced, and the median income in those towns is around $50-$60K (household $80-$90). Don't see how you can "live like a king" only making twice as much as your average Joe.

61 - I agree, $105K does not let you live like a king. But if you are part of a 2 earner household, it brings you pretty close in Hartford

The Dow is Up Guy/Former Partner Emeritus -

Your rosy outlook must be based on something you saw in USA Today. While there has been some moderation in the rate of economic decline, the economy remains in the grips of the Great Recession. The following are excerpts from an article in today's Financial Times, where you will see a specific reference to further contraction in the legal market:

"There were hints yesterday that the recession is becoming less ferocious in some parts of the country. The Federal Reserve’s 'beige book', a collection of anecdotal evidence from its dozen regional banks, said that five had seen a 'moderation' in the pace of decline, and several saw signs that activity in some sectors was stabilising at 'a low level.'
But the Fed concluded that 'overall economic activity contracted further or remained weak.' It reported layoffs and hiring freezes across the country and said 'the employment outlook is generally bleak.'
Retail spending was 'sluggish,' and the 'beige book' reported few signs of life in commercial real estate, tight credit conditions and continuing contraction of non- financial business services such as consulting and legal work. The Fed also reported 'downward pressures' on prices, from raw materials to goods in shops and fees for services. In fact, prices in the US fell in the year to March, marking the first annual decline since 1955.
'There are a few flickers of improving conditions in selected industries and markets,' said Brian Bethune, US economist at IHS Global Insight. But he warned 'the beige book is consistent with a moderation in the rate of contraction of activity in the second quarter, but does not provide any evidence of a more tangible line of sight to a recovery.'
Separate data yesterday showed industrial production plunged 12.8 per cent in the year to March, while manufacturing output fell at the fastest rate since the end of the second world war.
US industrial production fell for the fifth month running in March, dropping by 1.5 per cent on weak manufacturing output. The decline was worse than economists expected.
The proportion of manufacturing capacity not in use fell to 69.3 per cent from a revised 70.3 per cent. The figure is the lowest since 1967, when the Fed began keeping such records."

BTW - posting under two separate avatars is a sign that you have way too much time on your hands. You must be a law student.

Sincerely,

The Dow is Down Guy

69: You can live well and like a king *only* when compared to the existence one would eke out in the NYC suburbs on a $115K salary. The houses are a lot cheaper up there and the public schools are a lot better. I agree, though - "like a king" is a bit much. If you have loans, childcare, and all the rest, you're going to feel it, even up there.

#67 - Tovarich! And to all my suffering brothers and sisters out there.

I am glad that there are others of my - *ahem* - economic persuasion in this country.

When will we learn that it is we, the legal proletariat, that control the means of production. Rise up my brothers (and sisters) and together, we can fight the good fight against the likes of Partner Emeritus.

First, we should force the collectivization of the means of production - that is to say, the law firms, so that all of the profits are owned by the workers collectively.

Second, we should institute a Revolutionary Committee in each collective to ensure that the former oppressors of the legal proletariat are appropriately punished. Perhaps 3 years hard labor in the copy room would be appropriate.

Third, we should form a union among various collectives - call it the Lawyers United for a Socialist Tomorrow (LUST) - and forward the cause of a glorious revolution by promoting our 5 year plan.

Arise! Onward! Forward!

I live like a Burger King in Hartford.

E. Mystal

None this BS matters if we don't get rid of Pelosi and Reid in 2010.

FAIR TAX NOW.

DOWN WITH SOCIALISM

UP WITH AMERICAN EXCEPTIONALISM!!!

#75 - Don't turn around, Der Kommisar's in town. . .

75 -

Go back to smoking your tea bag.

In the battle between the Dow is Up Guy and the Dow is Down Guy, it appears to me that the Down Guy has won this round.

75, Socialism is the new, new black. Learn to love it.

75 - Elie lives like a Burger King no matter what city he's in.

This comment is addressed to post no. 71.

I happen to agree with your overall analysis of the economy. Do not confuse me with these other miscreants and clowns that are laughing at the expense of law students and lawyers that have had their futures wiped out by the current economic tsunami. What was laughable about Wells Fargo's $3B profit for 1st quarter 2009 is that they are still sitting on $320B of toxic asset backed mortgages. It would appear that books are being cooked in corporate America and in the Obama administration. The more things change, the more they remain the same.

Any news on the other big CT firms? UKS, Shipman, Wiggin?

Let's take a vote... Who wants me to release the identity of Partner Emeritus?

83: Ummm, you can just view his IP address (and everyone else's here) by typing ALT and F4. You're welcome.

83: Ummm, you can just view his IP address (and everyone else's here) by typing ALT and F4. You're welcome.

84/85 - don't be a slick idiot. ALT-F4 closes the window. We aren't that dumb.

84/85 - If you TYPED "ALT and F4" nothing would have happened. If you are going to try something like that, at least use the right language ("hit ALT and F4 simultaneously", for instance). You are a fucking loser.

84 - BUT I HAZ A MAC!?!?!?!?

83's shtick is a lame as Eastbound & Down. At least HBO had the common sense to cancel that show.

89 - My show has been renewed for a second season. Suck it fag.

To: N. Wacker Stud

45 here, you're so right, now just like you I have nothing better to do

The fact that some third rate firm in Connecticut is raising or lowering salaries is about as interesting as watching a government access television station. Really, get a life.

you're all a bunch of whackers. not all of you can work at biglaw, and even for those who are, you'd probably learn a hell of a lot more at a place like Robinson and Cole where they don't shove you into an office for a week of document review or force you to attend (not take) depositions. R&C is a respected firm that pays well for its market, and you elitist pricks who don't care will be begging for a job there when (i) you get laid off by biglaw or (ii) you have a family and decide you want a life.

92 - who are you? how is Robinson and Cole a third rate firm? i love how biglaw associates are so smug in this economy. hope you get laid off, and very soon.

The R&C trolls were really out in full force yesterday. Must be Western New England 3Ls. 93/94, you're in the same shitty position as your friends in biglaw. But we are more handsomely compensated (if we can keep this gig).

R&C has no jobs to offer, so no laid off lawyer will be begging at their door anytime soon.

SECOND-RATE FIRM CUTS ASSOCIATE SALARIES, ADMITS INFERIORITY, ACCEPTS FUTURE INABILITY TO RECRUIT TOP TALENT