We had a tough time picking our finalist couples this week, and LEWW will be the first to admit that we’re not totally certain we chose the right three. (We’re sure our commenters and e-mailers will let us know if we’ve dropped the ball.) Specifically, in addition to our three finalists, we considered thesethreecouples, and if you work at Shearman, Simpson Thacher, Wachtell, Willkie, or Ropes & Gray, you might want to click on those links to read about your colleagues or their spawn.
But onward to this week’s finalists! Here they are:
As we have previously bitterly lamentedobserved, sometimes it seems like all the blessings of life are reserved for Supreme Court clerks. And they include not just $250,000 signing bonuses and top-shelf legal jobs, but luxury real estate, too.
This latest Lawyerly Lairs post looks at the expanding digs of Joel I. Klein (Powell) and his wife, Nicole K. Seligman (OT 1984/Marshall). From the New York Observer:
New York is a city of poshly-housed public servants.
The mayor owns two mansions in the East 70’s; the governor goes rent-free in a terraced Fifth Avenue apartment (it’s owned by his dad); development chief Robert Lieber has a new $7.25 million condo at Trump International; and even Public Advocate Betsy Gotbaum is in the Beresford.
Now Schools Chancellor Joel Klein has bonus space on Park Avenue. He and his wife Nicole Seligman, a Sony executive vice president (and an ex-lawyer for both Oliver North and Bill Clinton) have paid $1.7 million for their second apartment at 95-year-old 565 Park Avenue.
Yes, that’s right — their second apartment in this venerable building. The couple already own the unit directly above their new acquisition. Hello, duplex!
(C’mon, get real: Did you really expect Klein and Seligman to slum it in a sub-$2 million apartment? As people have observed countless times in these pages, $2 million doesn’t buy you much in NYC.)
More details after the jump.
Although the pace seems to be slowing, our open threads on Vault 100 firms continue to generate a decent quantity (and quality) of comments. So we’ll press on, for the benefit of those of you who are now in the throes of the law firm application process.
Please pose questions about and share insights into these five law firms (in Vault 100 order, with prestige scores in parentheses):
16. Williams & Connolly LLP (7.234) 17. Sidley Austin LLP (7.232) 18. Gibson, Dunn & Crutcher LLP (7.158) 19. O’Melveny & Myers LLP (7.105) 20. White & Case LLP (7.092)
Over in the D.C. office of Baker & McKenzie, the natives are getting restless. They’ve prepared this cute little bar graph (thumbnail image; click to enlarge):
The graphic above also reflects that Williams & Connolly now pays starting salaries of $165,000. We hadn’t heard (or written) about that news, but it’s official.
Does anyone have a memo and/or more information about what Williams & Connolly pays beyond the first year? If so, please email us. Thanks. Update / Correction: Whoops, we forgot that W&C raised salaries back in March. What we were thinking, and meant to write, is that Williams & Connolly hasn’t raised associate salaries in response to the latest round of nationwide pay hikes (as kicked off by Orrick).
Remember that W&C traditionally doesn’t pay year-end bonuses, but pays an above-market base to make up for it. Their current scale — 165, 180, 195, etc. — is still above-market, but not by as much as usual. Further Update / Correction: Apparently Greenberg Traurig is still at $145K in Washington. We’ve revised the graph accordingly. Earlier: Nationwide Pay Raise Watch: What’s Up With Williams & Connolly?
We recently asked for information about compensation developments at Williams & Connolly. We haven’t heard anything about base salary increases; but we do have information about two other topics.
First, we’ve confirmed that the firm’s clerkship bonus currently stands at $25,000. If you do a district and circuit clerkship, you get $50,000.
Second, on Tuesday of this week, summer associate pay at W&C was raised to $3100 a week, retroactive to whenever the summers started. The information was conveyed orally (so no memo). From a summer: “While most of us were not overly concerned about the previous differential, the raise is definitely a nice and welcome gesture.” Earlier: Nationwide Pay Raise Watch: What’s Up With Williams & Connolly?
By email and in comments, readers have expressed significant curiosity about associate compensation at Williams & Connolly, the elite, Washington-based litigation boutique. We’d like to help; but we don’t have anything to report at the current time.
Here are some questions that we’d like your thoughts on:
1. Base Salaries. Historically the firm has paid above-market base salaries, but no bonuses. Back in March, Williams & Connolly raised to $165K. At that time, when homegrown D.C. firms were paying 145/155/170, a starting salary of $165,000 was well above the market.
But now that Washington-based firms have raised to 160/170/185, will Williams & Connolly raise again to stay ahead of the competition? Or might they stay at $165,000, but start paying bonuses?
2. Clerkship Bonuses: Speaking of bonuses…. The last we heard, Williams & Connolly paid a clerkship bonus of $25,000. Is that still correct? Do they differentiate between district and circuit court clerkships? What about people with two years of clerkship experience? Inquiring minds want to know.
Update: A current offeree confirms that the W&C clerkship bonus is still at $25K.
3. Summer Associates. A rumor, from a tipster:
The word is that summers aren’t being paid the first-year associate rate. They’re getting $2500 a week, while other DC summers are getting $3100.
Last week, we exhorted candidates to step it up for the high wedding season, and this week’s couples really responded. In fact, they brought the fabulosity in such a big way that LEWW has spent some anguished nights picking the three most deserving entries for this column.
Consider this: Our three featured couples are all lawyer-lawyer matings in which the least prestigious JDs are the two from Harvard! In order to narrow our list, we had to eliminate a gorgeous Harvard-Columbia offering with Skadden overtones and a robust NYU-Stanford entry with a wonderful floral bouquet.
LEWW is just sick about passing over all these shiny credentials. Now we know what a dean of admissions at a top-10 law school feels like!
Here are the amazing couples who made the initial cut:
We didn’t receive this information from a verified source at the firm, so please treat it as unconfirmed. We’re going to fact-check this information “blog-style”: we’re going to throw it out there, then wait for somebody to tell us it’s wrong (or to confirm it).
Anyway, here it is, from an email from an anonymous source:
On Tuesday, Williams & Connolly LLP raised its salaries across the board, retroactive to January 1. Starting salary for first-years is now $165,000.
You’ll note that these numbers are higher, at least in the most junior years, than what appears to be the new standard for Washington: 145/155/170/190. They’re also higher, at least in the first three years, than the new NYC scale (which also applies to the D.C. offices of New York firms): 160/170/185.
But this is consistent with the Williams & Connolly pay scale of years past. Their base salaries are somewhat higher than market; but they don’t pay year-end bonuses.
As noted, if you know this information to be incorrect — or if, on the other hand, you can confirm — please email us. Thanks! Update: The information appearing above, concerning Williams & Connolly, has been confirmed.
Legendary litigator Brendan Sullivan, who has been involved in some of the most high-profile cases of the past few decades, ensured his place in Bartlett’s when he quipped at the Iran-Contra hearings: “I’m not a potted plant.”
But despite not being a potted plant, Sullivan was unable to prevail against two of our former colleagues, Michael Martinez and Craig Carpenito, of the U.S. Attorney’s Office in New Jersey. Martinez and Carpenito, a pair of superb young lawyers, were given the daunting task of handling the third trial of former Cendant chairman Walter Forbes. Their triumph over Sullivan and his Williams & Connolly team is chronicled in a fascinating article by Andrew Longstreth in this month’s American Lawyer.
More discussion of the piece, with a few added comments from us, after the jump.
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: email@example.com.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at firstname.lastname@example.org or email@example.com. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
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