Stats Of The Week: San Antonio To $462K!
That $180K goes a looong way in some of the markets affected by the MoneyLaw increases.
Last week, our friends at Lateral Link pondered the implications of the MoneyLaw arms race, finding that the new $180K standard “could soften the market as starting salaries are pushed up in other major markets, making New York’s compensation comparatively weaker when adjusted for inflation.”
One imagines that, outside New York, the legal community’s reaction to this possibility involved pretending to play a very small violin and wiping away imaginary insincere tears. Using this CNN calculator (based on the C2ER cost of living index), it’s fun and somewhat astonishing to see what the new standard means in non-NYC terms. Here’s a sampling of the comparable value in some other MoneyLaw markets:
- $180,000 in Wilmington, DE (e.g., Paul Weiss) is equivalent to $382,712 in Manhattan
- Providence RI (Weil Gotshal): $329,635
- Charlotte, NC (Winston & Strawn): $422,056
- Houston, TX (Baker Botts): $415,158
- San Antonio, TX (Akin Gump): $462,916
Curbing Client And Talent Loss With Productivity Tech
If you’re aware of pay raise news we haven’t covered, please contact us by text (646-820-8477) or email (subject line: “[Firm Name] Matches Cravath”). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file. All sources are kept strictly confidential.