Money
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Biglaw, Money, Skaddenfreude
West Coast Pay Raise Watch: MoFo Sees Orrick's San Francisco, and Raises It a Sacramento
As noted by several commenters, and as this article in Monday’s Recorder will report, Morrison & Foerster has announced a firm-wide increase in associate base salaries. This follows on the heels of pay raise news from two other California-based (or California-originating) firms, Orrick, Herrington & Sutcliffe and O’Melveny & Myers. Here’s the new MoFo pay […] -
Biglaw, Lolcats, Money, Pictures, Skaddenfreude
Skaddenfreude: A Photo Essay
From ATL reader Darrin Brown: As always, your breaking comp announcements are always appreciated. In response to these recent developments, I whipped up a couple of “lolcats” style graphics in my office this morning. Please feel free to use or enjoy as you see fit. No animals were harmed, and no clients were billed, during […] - Sponsored
Is The Future Of Law Distributed? Lessons From The Tech Adoption Curve
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Biglaw, Money, Skaddenfreude
Skaddenfreude: O'Melveny Joins In the Fun
We have confirmed, with sources at the firm, the news that O’Melveny & Myers has raised associate base salaries in its California offices. The firm’s California and New York offices are now on the same salary scale. The O’Melveny & MYers news was conveyed through a firm-wide voice-mail. The message said: “Over the past 24 […]
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Biglaw, Bonuses, Clerkships, Money, Skaddenfreude
Clerkship Bonus Watch: Davis Polk Joins the $50K Club
We have received confirmation, from multiple sources, of a rumor that previously arose in the comments: Davis Polk & Wardwell has raised its clerkship bonus to $50,000. It joins the distinguished company of Sullivan & Cromwell, Simpson Thacher, Paul Weiss, Weil Gotshal, Cravath, Cleary Gottlieb, and Skadden Arps. Also, contrary to this joke, Davis’s enhanced […] -
Biglaw, Money, Skaddenfreude
Skaddenfreude: Orrick Raises California Salaries
Some happy news for Golden State associates of Orrick, Herrington & Sutcliffe. A source at the firm tells us: “Orrick just matched New York salaries on the West Coast. We received a memo and videocast from [firm chairman] Ralph Baxter this morning.” “All offices start at $160,000, except for Sacramento and Pacific Northwest.” According to […] -
Biglaw, Bonuses, Clerkships, Money, Skaddenfreude
Clerkship Bonus Watch: Skadden Has Joined the $50K Club
Yesterday we floated this rumor: “Skadden has raised its clerkship bonuses: $50,000 for one clerkship, $70,000 for two years. Applicable to all offices.” We have not received official confirmation from the firm. But we have now received, via email, confirmation of this news from multiple sources. So we believe it’s safe to treat it as […] -
Biglaw, Bonuses, Money, Skaddenfreude
Clerkship Bonus Watch: Has Skadden Joined the $50K Club?
Earlier today, a source advised us as follows, by email: “Skadden has raised its clerkship bonuses: $50,000 for one clerkship, $70,000 for two years. Applicable to all offices” Excluding anonymous commenters, we’ve heard this news from just this one source (although a source who claims to have heard the news from multiple offerees). We don’t […] -
Money, Skaddenfreude
Skaddenfreude: Mammas, Don't Let Your Babies Grow Up to Be State Public Defenders
The sticklers among you object to our using the cute pun “Skaddenfreude” to refer to our compensation coverage. After all, there’s really no “taking malicious satisfaction in another person’s troubles” when reading this column (unless you take perverse pleasure in thinking about how hard Biglaw attorneys must work for their six-figure salaries). If you’re one […] - Sponsored
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Biglaw, Bonuses, Clerkships, Money, Skaddenfreude
The $50K Club: Official Word on Weil
In case any of you were wondering, last Friday’s news about Weil Gotshal clerkship bonuses has been officially confirmed. Here’s a statement from a firm spokesperson: “Weil will pay $50K for a one-year state or Federal clerkship and $70K (i.e., the current amount) for a two-year clerkship.” So there you have it, from the horse’s […] -
Biglaw, Bonuses, Clerkships, Money, Skaddenfreude
Skaddenfreude: Cleary Gottlieb Is in Da Club
The various comments added to our last post, stating that Cleary Gottlieb has joined the elite ranks of law firms paying $50,000 clerkship bonuses, are correct. Here’s the email, from CGSH partner David Leinwand: From: David LEINWANDTime: 2:01 pm I am very pleased to announce that the firm will be increasing its judicial clerkship bonus […] -
Biglaw, Bonuses, Clerkships, Money, Skaddenfreude
Skaddenfreude: The $50K Club Welcomes Cravath, Swaine & Moore
Today brings more happy tidings for law clerks, emanating from The Death Star. Check out the Cravath website (navigate through Career Information: Law Students, Life at Cravath, and Associate Life): Incoming associates, in fall 2007, who have completed a U.S. Federal district court, Federal appellate court, or state highest court clerkship receive a bonus of […] -
Biglaw, Money, Skaddenfreude
Skaddenfreude: Squire Sanders Raises -- Finally
In late March, we made a special shout-out to Squire Sanders & Dempsey. It hadn’t participated in the latest round of associate pay raises, and several of you had complained about that to us. So we highlighted their presence on the LIST OF SHAME. Weeks and weeks passed. But now, after taking its sweet time […] -
Biglaw, Money, Partner Profits, Robins Kaplan Miller & Ciresi, Skaddenfreude
Skaddenfreude: Wiley Rein Dethrones Wachtell Lipton as America's Most Profitable Biglaw
Let the wailing and gnashing of teeth begin. The AmLaw 100 rankings — The American Lawyer’s closely watched, annual listing of the hundred largest law firms in the United States, ranked by revenue — are now available. We’ll have more to say on the rankings later. Their release is a big story, deserving of multiple […]
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Biglaw, Bonuses, Job Searches, Money, Skaddenfreude
Skaddenfreude: Special Bonuses for D.C. Lateral Candidates?
Here’s an interesting rumor that’s making the rounds: I have heard through the grapevine that some large law firm(s) [possibly Hogan Hartson] in Washington are desparately in need of corporate associates — from junior associates on up. Apparently the idea is to offer around $30,000 as a bonus to lateral. This shows the real need […] -
Biglaw, Bonuses, Clerkships, Money, Skaddenfreude
$50k Club: Weil Makes It the Fab Four
It didn’t take long for the $50k club to gain another member! Multiple sources tell us that Weil, Gotshal & Manges decided last night to match the $50,000 clerkship bonus being offered by Sullivan & Cromwell, Simpson Thacher & Bartlett, and Paul Weiss. Who’ll be the next to join this exalted group? Programming Note: With […] -
Biglaw, Bonuses, Clerkships, Money, Skaddenfreude
Skaddenfreude: Paul Weiss Joins the $50k Club!
Multiple sources have just confirmed to ATL that Paul Weiss has matched the $50,000 clerkship bonus paid by Sullivan & Cromwell and Simpson Thacher & Bartlett. The head of recruiting called people with outstanding offers today to make the announcement. From a source: PLEASE post this news so that it will continue to put pressure […] -
Biglaw, Magic Circle, Money, Skaddenfreude, United Kingdom / Great Britain
Skaddenfreude: Salary Wars Jump Across the Pond
It appears that the salary wars have made their way to London. With London salaries rising into the neighborhood of £65,000, and with the current exchange rate over two $/£, the gap between New York and London salaries is narrowing considerably. This from the London Times Online: City sources said newly-qualified lawyers at A&O would […] -
Biglaw, Bonuses, Clerkships, Money, Skaddenfreude
Skaddenfreude: Wilmer Raises Its Clerkship Bonus
In the comments to our last post on clerkship bonuses, there was a claim that WilmerHale has raised its clerkship bonus to $35,000. That claim is true. This email went out yesterday: From: Dunbar, AndriannaDate: Apr 19, 2007 5:52 PMSubject: Clerkship Bonus UpdateTo: As part of our commitment to providing attorney compensation that is at […] -
Biglaw, Bonuses, Clerkships, Job Searches, Money
Skaddenfreude: Simpson Matches S&C's $50,000 Clerkship Bonus
Apparently Sullivan & Cromwell is no longer the only Biglaw shop paying a $50,000 clerkship bonus. According to multiple sources, Simpson Thacher & Bartlett — which in January kicked off the latest round of base salary increases for associates — has followed suit. If S&C were the only member of the $50K club, competitor firms […] -
Banking Law, Education / Schools, Money, Morning Docket, Politics, Supreme Court, Violence
Morning Docket: 04.18.07
* The National Bank Act preempts state regulation of mortgage lenders, even those that are operating subsidiaries of banks and not banks themselves. [U.S. Supreme Court (PDF)] * Payphone operators can sue for compensation from long-distance carriers. [U.S. Supreme Court (PDF)] * Department of Education can use number of pupils rather than number of school […]