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.
Now it’s time for a post about one of our favorite subjects: the magnificent Senator Hillary Rodham Clinton. First, check out what’s currently gracing the front page of the Drudge Report: The audio clip is pretty awesome. To listen, click here.
Second, we’d like to take this opportunity to chastise any and all lawyers who enjoyed top government posts during the Clinton Administration, but now refuse to support Senator Clinton in her bid for the White House.
Here are two prominent examples. With apologies to Stephen Colbert, who isn’t exactly a Hillary supporter, a “Wag of the Finger” to:
Craig is doing this despite his close personal ties to the Clintons; the fact that he held multiple posts in the Clinton Administration, at the White House and State Department; and the alma mater he shares with the Clintons (Yale Law School — rival to Obama’s Harvard Law).
2. Jeh Charles Johnson. Paul Weiss partner Jeh Johnson, a successful New York litigator and prominent political fundraiser, served as general counsel to the Air Force under President Clinton. Yet he too has also turned his back on Senator Clinton, his home state legislator, to raise funds for Barack Obama.
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 six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.