Money
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Blogging, Education / Schools, Money, Music, Non-Sequiturs, Politics, Sonnenschein
Non-Sequiturs: 09.05.07
* Sadly, the Nixon Peabody theme song didn’t make the cut. [TechnoLawyer] * “Sonnenschein sued for millions by former partner.” [Legal Times] * News you can use: “How much income can parents have before losing all financial aid for their kids’ college?” [TaxProf Blog] * We’re late in linking to this, but here’s Blawg Review […] -
Biglaw, Law Schools, Money, Skaddenfreude
Skaddenfreude: Distribution of 2006 Starting Salaries for Lawyers
We’ve made this point before in these pages, and we’ll make it again: not every recent law school graduate is on the $160K (or even $145K) scale. Many newly minted lawyers are pulling down salaries that fall well short of the six-figure mark. Check out this interesting graphic, which shows the distribution of full-time salaries […] - Sponsored
Legal AI: 3 Steps Law Firms Should Take Now
If 2023 introduced legal professionals to generative AI, then 2024 will be when law firms start adapting to utilize it. Things are moving fast, so… -
Biglaw, Money, Skaddenfreude
Nationwide Pay Raise Watch: Kilpatrick Stockton
One of the firms from this morning’s open thread, Kilpatrick Stockton, recently announced associate pay raises. We heard the news from multiple sources. Here’s what one had to say: Kilpatrick Stockton raised salaries on Friday, effective 1/1/08 (in all markets). 145K in Atlanta and all NC offices, 160 in NY, DC and for IP associates […]
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Biglaw, Money, Skaddenfreude
Skaddenfreude: The Am Law Associate Paycheck Report
Good stuff. Check it out here (article) and here (chart). The Paycheck Report [The American Lawyer] Associates Salary Survey [The American Lawyer] -
Biglaw, Job Searches, Layoffs, Money, Skaddenfreude, Wall Street
Layoffs?
Last week we wondered whether conditions in the stock and credit markets might lead to layoffs or affect bonuses. The situation has continued to deteriorate, particularly in the credit market. Now others are starting to join us in the rampant speculation about layoffs. From the NYT’s DealBook: The current turmoil in the credit market has […] -
Biglaw, Bonuses, Clerkships, Money, Skaddenfreude
Clerkship Bonus Watch: Open Thread
A week has passed since our last bit of clerkship bonus news. Have you heard anything on this subject that we haven’t previously reported? If so, please note it in the comments, or email us (subject line: “Clerkship Bonus Watch”). Bonus question: With respect to the Dewey Ballantine / LeBoeuf Lamb merger, whose clerkship bonus […] -
Denny Chin, Fabulosity, Federal Judges, Kim McLane Wardlaw, Kimba Wood, Loretta Preska, Money, Romance and Dating, Ruth Bader Ginsburg, SCOTUS, Stephen Breyer, Supreme Court
A Solution to the Federal Judicial Pay Crisis: Marry Into Money
As we previously mentioned, and as Lawrence Hurley of the Daily Journal reports here, Congress is considering a proposal that would raise federal judges’ salaries by a significant margin. Here’s what the new scale would look like (with current salaries indicated parenthetically): District Court Judges: $247,800 (up from $165,200)Court of Appeals Judges: $262,700 ($175,100)Associate Justices […] -
Biglaw, Layoffs, Money, Skaddenfreude
Nationwide Pay Raise Watch: NYC to 190 Associate Layoffs?
A few weeks ago, we were getting bombarded with rumors of supposedly imminent New York pay raises. Davis Polk to $180K! Simpson Thacher to $190K! The gossip was running rampant. But in the last two weeks or so, with all of the turmoil in the stock market and tightening in the credit market, pay raise […] - Sponsored
Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
In this CLE-eligible webinar, we’ll explore the most common accounting pitfalls and how to avoid them for your firm. -
Fabulosity, Lawyerly Lairs, Money, Real Estate
Lawyerly Lairs: Livin' La Vida Loca
In Lawyerly Lairs, the ATL feature that takes you inside the luxurious homes of legal luminaries, we focus a lot on New York City. We’ve previously peeked inside the residences of Schulte partner Rick Presutti, ex-S&C associate Aaron Charney, Cravath partner John Beerbower, Columbia law profs Hans Smit and Sarah Cleveland, and lawyer-turned-TV-personality Greta Van […] -
Biglaw, Labor / Employment, Money
Imagine There's No Billables
It’s easy if you try. No billable minimum below us. Above us only sky (high bonuses). The billable hour has its critics. See, e.g., this great piece by Scott Turow. Alternatives to the billable hour are slowly emerging. But nobody seems to think it’s going away anytime soon. If you’re a first-year associate at Ford […] -
Biglaw, Bonuses, Clerkships, Money, Skaddenfreude
Clerkship Bonus Watch: Latham Joins the $50K/$70K Club (For Real)
To all of you who have been complaining about the clerkship bonus policy of Latham & Watkins, the firm has heard your pleas. And it has taken action. But if you’re starting at the firm in 2007, you might not reap the benefits of your whining advocacy. An LW offeree passed along this information to […] -
Aaron Charney, Gay, Money, Real Estate
Brokeback Lawfirm: Noble Black
After we wrote about Aaron Charney flipping his condo for a tidy profit, a reader emailed us: Do some research on Noble Black, Charney’s agent at Corcoran. I remember reading an article several years ago where he left a New York Biglaw firm to go into residential real estate because the money just wasn’t good […] -
Biglaw, Money, Skaddenfreude
Nationwide Pay Raise Watch: Sutherland Asbill & Brennan
The person maintaining this Atlanta List of Shame needs to update it. The starting salary in the Atlanta office of Sutherland Asbill & Brennan is now $145,000 (effective January 1, 2008). The firm has also raised first-year salaries to $160,000 in Houston and Washington, DC (effective September 1, 2007). For more senior associates, things are […]
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Legal AI: 3 Steps Law Firms Should Take Now
If 2023 introduced legal professionals to generative AI, then 2024 will be when law firms start adapting to utilize it. Things are moving fast, so…
Sponsored
The Business Case For AI At Your Law Firm
ChatGPT ushers in the age of generative AI – even for law firms.
Sponsored
Is The Future Of Law Distributed? Lessons From The Tech Adoption Curve
The rise of remote work has dramatically reshaped the relationship between Lawyers and Law Firms, see how Scale LLP has taken the steps to get…
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Sponsored
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
How to best leverage generative AI as an early adopter with ethical use.
Sponsored
Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
In this CLE-eligible webinar, we’ll explore the most common accounting pitfalls and how to avoid them for your firm.
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Biglaw, Money, Skaddenfreude
Nationwide Pay Raise Watch: Jones Day (Atlanta)
A source at Jones Day has confirmed for us the rumor that the firm’s Atlanta office has raised starting salaries to $150,000. Here’s more detail: First years are at $150,000, and senior classes are to be paid commensurate with Jones Day’s goals to pay at the top of each market in which it operates. There […] -
Money, Ridiculousness, Roy Pearson, Tort Reform
Dry Cleaners Won't Press Suit
The story of ALJ Roy Pearson and his $54 million pants isn’t over just yet. From the Washington Post: [T]he small-business owners sued by D.C. Administrative Law Judge Roy Pearson withdrew their demand that he pay nearly $83,000 for their legal bills, saying that enough money had been raised from supporters to cover the expenses […] -
Biglaw, Money, Skaddenfreude
Nationwide Pay Raise Watch: Gardere Wynne Sewell
More Texas pay raise news. The latest: Gardere Wynne Sewell has raised starting salaries to $160,000, effective September 1. No word yet on more senior classes. Memo after the jump. -
Biglaw, Money, Skaddenfreude, Thompson Hine
Nationwide Pay Raise Watch: Thompson Hine
Last week, Thompson Hine raised starting salaries in some of its Ohio offices, effective January 1, 2008. The new first-year associate salaries: Cincinnati, $115,000; Cleveland, $125,000; and Dayton, $115,000. Memo after the jump. -
Biglaw, Lawyerly Lairs, Money, Real Estate
Lawyerly Lairs: It's Good To Be King A Biglaw Partner
The miseries of life at a large law firm are regularly chronicled in these pages. But don’t forget: It’s a living. And if you make partner at a top firm, it’s a very, very good living. From an anxious reader: I’m a 2L about to start the whirlwind of OCI at my law school. So […] -
Biglaw, Intellectual Property, Money, Skaddenfreude
Nationwide Pay Raise Watch: IP Firms
As law firms around the country raise associate starting salaries to $160,000, some people are wondering: What about intellectual property shops? We don’t think there’s much to this story. It’s our understanding that most top IP firms are already at $160K (and have been there for quite some time). As everyone knows, IP is hot […] -
Allen Matkins, Biglaw, King & Spalding, Money, Skaddenfreude
Nationwide Pay Raise Watch: Odds and Ends
None of these items is new. But as we were going through our overflowing inbox — if we owe you an email, we apologize for our delinquency (or blame our spam filter) — we came across some associate pay raises not previously mentioned here: 1. King & Spalding: We provided extensive coverage of their recent […]