Big Law firms now paying first year associates $190K per year

[Peter1469]

Big Law firms now paying first year associates $190K per year

The big law firms are paying more for associates. The traditional thought is that a lawyer need to make the firm 3 times his/her salary. One third goes to the associates salary, one third goes to the partners, and one third goes to the law firm. With a 190K first year associate salary, that assumes they are making the extra 190 times two to fit the model. I think that translates to $300 or so an hour for a first year associate.

That is insane. I wonder how long big corporations are going to put up with this?

A few major law firms are jumping on the bandwagon and raising starting pay for new associates to $190,000.

Milbank is hiking pay by $10,000 for first- through third-year associates, and by $15,000 for fourth- to eighth-year associates. Its new pay scale:

• First year: $190,000
• Second year: $200,000
• Third year: $220,000
• Fourth year: $250,000
• Fifth year: $275,000
• Sixth year: $295,000
• Seventh year: $315,000
• Eighth year: $330,000

I have been in court against these big law firms. It was me and 4 or more of these over paid suits. I typically won.

[DGUtley]

Those are interesting numbers.

We are finding that the newbies don't want to work. Oh, they want to get paid but they don't want to work. I will typically bill 2200-2300 hours a year (yes, I'm here now) These kids want to bill 1600-1700, citing they want to "have a life". They also want to work weird hours. 11-7, flex hours, "work from home" so they can go to the gym etc. Drives me nuts. Businesses are getting wise and firms like ours are taking their clients for much less per hour.

As far as quality -- you have one or two that are as good as us but after the starter, no. What they have over us is the ability to swamp us in with works, briefs, discovery, documents etc. Get them one-on-one and we win 95% of the time (when we should win). I have been in court against these big law firms. It was me and 4 or more of these over paid suits. I typically won. https://www.reuters.com/article/us-d...-idUSKBN15S18U

[Peter1469]

I see that with our interns.

[Major Lambda]

It's simple. We all know that there are good lawyers , and there are bad lawyers. Nothing against the profession......but lawyers get disbarred every day.

Some know their stuff. Villigant and hard working. Some are great in the court , and are outstanding investigators. Some......lack in research , and essentially want money for nothing......OR little work.

They like the BMW car , the two story brick house and vacationS to the beach in the summer , in the winter it is skiing In Idaho. It is ok, Paralegals are taking care of everything. It will be ready and presentable to the court for argument , when they get back from one of their many vacations.

I've met some great lawyers. Hard working , and damn near experts in case law. Tort lawyers are a dime a dozen , because they would not make a good trial attorney. The real winners are the ones who drive used vehicles.....they are midlevel divorce attorneys or they take injury cases ; some one got a boo boo and they represent them.

Nothing personal. But some lawyers intentionally limit themselves. They got into a profession, and discovered that with code of conduct and ethics rules , it is safer to be a low level lawyer than a great one. Fear prevents them from excelling. Or they got their face slapped one time and decided that the expensive pub after work with real lawyers in $1000 dollar suits , discussing the current court case and strategy, along with the past success rate of opposing counsel and if the judge is a Republican or Democrat is not worth it.

If you want to succeed, you have to work . You have to represent yourself and your abilities well. You have to be marketable. You have to display professionalism and knowledge.

And there is nothing wrong, with taking time for the gym or the run around the city park. ( smile ) .





Major Lambda

[Peter1469]

Most people who go to law school get these jobs. Maybe the top 8%.

[Major Lambda]

Most people who go to law school get these jobs. Maybe the top 8%.

4%. The law school grad knows someone , or someone in their family has connections.


Major Lambda

[Peter1469]

4%. The law school grad knows someone , or someone in their family has connections.


Major Lambda

8% and no they don't have connections. Nepotism is disfavored today.

[barb012]

Perhaps the reasoning is these new graduates are aggressive liberals who now have a better chance with liberal judges, I do not know, just a guest.