D**********s
发帖数: 320 | 1 Maybe we should all start looking for a new job.
In April, we let you know a few of the names of people we’ve envied
throughout our life.
Moments ago, we became aware of someone else we’d like to be: a law-school
graduate slated to start at the venerable Cravath, Swaine & Moore this fall.
Here’s the kicker: We’d want to be one of those people slated to start at
Cravath because, if we were, we actually wouldn’t have to start at Cravath
at all. In fact, as Above the Law and Bloomberg are reporting |
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D**********s
发帖数: 320 | 2 This is really surprising. It looks like Cravath is trying to force its mid
-level associates to leave the firm.
It will be interesting to see how S&C, DPW dole out their bonuses this year.
I bet they won't be great, either. These elite firms are among the
hardest hit. |
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D**********s
发帖数: 320 | 3 Simpson Thatcher matched Cravath. No surprise. DPW to follow suit. |
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D**********s
发帖数: 320 | 4 Cravath is hurt more probably because of their lack of diversification.
WLRK's profit will probably decline a lot, too. |
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D**********s
发帖数: 320 | 5 看来真要考虑申请新job了，一年的gap太长了，是不是应该读个llm?
school
fall.
at
Cravath
take
insurance |
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D**********s
发帖数: 320 | 6 Cravath is setting the market right now: 65k for the class of 2010 and no
guarantee of an offer when we return. :(
Sounds like a severance. |
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p*******r
发帖数: 145 | 7 具体名额不知道，Partner也不会告诉我。
不过据Partner说今年因为形势不好，有flee to quality效应，像Cravath和S&C这样的
所yield特别高，结果今年summer class，Cravath超编100%，S&C超编50%。明年发
offer的时候会把这个因素考虑在内。 |
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p*******r
发帖数: 145 | 8 具体名额不知道，Partner也不会告诉我。
不过据Partner说今年因为形势不好，有flee to quality效应，像Cravath和S&C这样的
所yield特别高，结果今年summer class，Cravath超编100%，S&C超编50%。明年发
offer的时候会把这个因素考虑在内。 |
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i*****9
发帖数: 698 | 9 什么样的工作收入能达到这个标准呢? 比方说
A Baltimore Police Sgt. William Harris Jr. received $244,913.70 in 2017
A Bay Area Rapid Transit janitor made $234,000 + $36,000 in benefits in 2016
A 26 year old Airbnb employee shared he got a $250,000 total compensation
package back in 2015
A 26 year old first year law associate at a firm like Cravath make $180,000
base + $20,000 sign on bonus. By the end of their 6th year they are making
over $300,000
A personal finance blogger with 500,000 pageviews earns between $150,... 阅读全帖 |
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l****z
发帖数: 29846 | 10 By JENNIFER SMITH
Law firms are finally starting to recover from the recession, but they aren'
t taking their young lawyers along for the ride.
Even as profits return, cautious partners with one eye on damaged balance
sheets and the other on stingy clients plan to hang onto the lean
silhouettes they acquired during the downturn.
l
Eric Fishman's colleagues thought it risky in a tight job market when he
left an elite New York practice for a midsize one. 'There was little chance
many of my peers w... 阅读全帖 |
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l****z
发帖数: 29846 | 11 根据周二公布的一份联邦起诉书，三名中国交易员非法侵入了两家知名美国法律事务所
的电脑系统，取得有关并购交易的非公开信息，并由此获得逾400万美元的非法利润。
美国曼哈顿检察官办公室发布新闻稿称，上述交易员在至少五家上市公司宣布将被收购
之前购买了它们的股份，其中包括制药公司和芯片制造商。根据美国检察官办公室，这
三名交易员为Iat Hong、Bo Zheng和Hung Chin，他们通过入侵负责并购交易的律所合
伙人电邮帐户获得交易消息。根据起诉书，这三人在2014年4月至2015年底间从事了相
关股票交易。
检察官办公室并未披露律所名称，但《华尔街日报》(The Wall Street Journal)曾于3
月份报道，联邦调查机构正在调查Cravath Swaine & Moore LLP和Weil Gotshal &
Manges LLP的黑客入侵事件，这两家律所为华尔街银行与财富500强公司代理所有法律
事务，包括诉讼案件与规模数十亿美元的并购谈判。
调查机构称，其中一名交易员Hong已于周日在香港被逮捕。执法官员正寻求将Hong引渡
回美国。
记者无法立即得知这三名交易员是否... 阅读全帖 |
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a*****i
发帖数: 4391 | 12 client list:
a vice president of NBC Universal
the part owner of a Major League Baseball team who "loves Kelsey"
the CEO of one of the country's largest private equity firms who met "
Cameron" at the Peninsula Hotel
a major New York real estate developer who, according to the list, "will
come to the door wearing women's panties," and who spent nearly $100,000
a partner at the Wall Street law firm Cravath Swaine Moore "looking for a
party girl to come fully equipped" and spent a total of $20,000 |
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o****e
发帖数: 195 | 13 It's hard to find this type of statistics anywhere. It's difficult enough to
figure out the placement of my own class in law school, let alone all the
Chinese JD across the country.
In general, there aren't many Chinese JDs to start with (in absolute numbers).
So far, most of the Chinese JDs I know have placed in AMLAW 100 firms, if
not top 50. Among the firms your referred to, I think Cravath and Wachtell
are the creme de la creme among all and form a tier of their own. Then there
are the |
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o****e
发帖数: 195 | 14 It's hard to find this type of statistics anywhere. It's difficult enough to
figure out the placement of my own class in law school, let alone all the
Chinese JD across the country.
In general, there aren't many Chinese JDs to start with (in absolute numbers).
So far, most of the Chinese JDs I know have placed in AMLAW 100 firms, if
not top 50. Among the firms your referred to, I think Cravath and Wachtell
are the creme de la creme among all and form a tier of their own. Then there
are the |
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o****e
发帖数: 195 | 15 I know Cravath has a lock-step salary scale, and a senior associate can make
more than half a million.
Chances of making partner at firms like Skadden is near zero. One can't
make partner by working his butt off, there are thousands of fresh 23 yr old
law students who can always bill more and sleep less. They only make you a
partner when you can draw clients like other big wigs do, and when you are
ready to show them the fingure and walk out.
But if one has his own book of biz, he probably |
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o****e
发帖数: 195 | 16 I know Cravath has a lock-step salary scale, and a senior associate can make
more than half a million.
Chances of making partner at firms like Skadden is near zero. One can't
make partner by working his butt off, there are thousands of fresh 23 yr old
law students who can always bill more and sleep less. They only make you a
partner when you can draw clients like other big wigs do, and when you are
ready to show them the fingure and walk out.
But if one has his own book of biz, he probably |
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m**********n
发帖数: 71 | 17 November 2, 2007
URL: http://www.nysun.com/article/65738
The race is on to see which of the city's top law firms will boast the best-
paid associate.
As is common when it comes to law firm pay, the going is neck and neck.
Cravath, Swaine & Moore LLP set the pace on Monday by announcing a bonus
scale that, when put with salary, adds up to a total of $205,000 this year
for an associate who graduated law school in 2006. Not to be outdone, about
half a dozen other New York firms quickly matched Crav |
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a**d
发帖数: 31 | 18 I recommend this study to you: http://www.elsblog.org/the_empirical_legal_studi/2008/07/how-the-cravath.html
You will see that salaries in the legal profession follow a bi-modal
distribution. There are nearly as many 6-figure salary earning law grads as
"poor" law grads. Citing a low average salary as you did does not tell the
whole story. For reasonably diligent people who manage to get into a top-
tier law school and don't mind the hours and culture of biglaw, earning 160k
market salary is no |
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D**********s
发帖数: 320 | 19 Wow, looks like I should have put Cravath further down my bidding list. |
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c*********n
发帖数: 52 | 20 FallenEmbers is reasonable in this particular post, but he appeared very
defensive and unnecessarily argumentative in at least one other post. Of
course, different views should be encouraged, and we are here to share our
own experience, so that the newbies can learn from our successes and
mistakes.
As I stated in my other post, in order to get a non-IP BIGLAW job (and hence
$160K starting salary), you need to go to a top 14 LS or graduate top 10%
(higher if your school does not rank well).
Gen... 阅读全帖 |
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D**********s
发帖数: 320 | 21 Wow, looks like I should have put Cravath further down my bidding list. |
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r********e
发帖数: 86 | 22 Mayer Brown: 33; Squire Sanders: 30.
Cravath announced its sh*tty bonus structure and implied 0 bonus next year.
Bryan Cave postponed lockstep raises. |
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r********e
发帖数: 86 | 23 Funny they even imply 2009 may pay $0 bonus. Good luck keeping their
associates. |
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D**********s
发帖数: 320 | 24 Actually I have more respect for CWM and hope S&C and DPW will follow CWM
rather than Skadden. Given the state of the economy, every firm should be
more prudent and more conservative. If your clients are slashing their
bounues by 50% and having massive lay-offs, you should pay less bonuses, too
.
I think the economy will certainly get worse in 2009 and 0 bonus will
probably not be the worse scenario. These firms might be forced to lay off
associates. Just 6 months ago, who would have though |
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g**g
发帖数: 1121 | 25 One analysis is that this is intentionally designed to force out associates.
Sort of make sense - it's not like they can't match financially, though
they never paid above market either. Especially suspicious is their hint
that the next year might be worse - I mean why do you have to say this other
than for the reason of wanting people to quit voluntarily?
What do you think about this theory?
Also I'm a little surprised when you said that these elite firms are hit the
hardest. Could you elaborate |
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a***a
发帖数: 204 | 26 Most of the hardest hit banks tend to be their loyal clients, that's why. I
thin
k each of top 6 will be hard hit, except Skadden, since they have a very
strong
client base in corporate America.
They get a lot of government work right now, high-profile and eye-popping, b
ut not well paid.
associates.
other
the
top
ve |
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D**********s
发帖数: 320 | 27 我的理解是
这些elite firms最赚钱的业务来自于投行，现在投行已经不行了，连GS, MS都转了
bank holding了，而且裁员很多，以后他们利润下降是肯定的，那连锁反应就是elite
firms收入也会少。
另一个就是银行钱少了，credit market freeze, 没法作大的M&A, IPO了，bail out
work虽然可以补充一下，但是毕竟没有一个 quarter 好几个IPO, M&A赚钱。
这几个elite firms很依赖financial service industry，所以受影响会很大
associates.
other
the
top
ve |
|
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L***d
发帖数: 154 | 29 I heard Cravath has over two hundred in its NY office this year...probably
over-optimistic.
The reduction in general will be over 50% for sure. |
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l*********h
发帖数: 77 | 30 Volunteer in China for a worthy cause. 80K, even after tax, goes
a long way there. |
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n*****3
发帖数: 34 | 31 They are the lucky ones. 80K for doing nothing for a year. Please think of
people who don't have any offer at all. |
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w**k
发帖数: 1455 | 32 律所最近都暗地里裁人啊，认识一个Cravath 4th year corporate, 给6个月severance
，自己出来开移民所了 |
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w**k
发帖数: 1455 | 33 New York office, Top 10 firms
左边数字是 2009 summer class， 右边是 2010 summer class
Cravath: 121 -> 22
S&C: 104 -> 70
DPW: 111 -> 74
Cleary: 96 -> 76
STB: 77 -> 71 (but they had 148 in 2008!)
Deb: 100 -> 50
Skadden: 102 -> 42
Weil: 162 -> 36 |
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r*****e
发帖数: 381 | 34 也就算一个,其他两个对于这些在美国高年级律师来说都不会当回事的.
你一装就很好玩;象另两个那种就算了.简历真假不确定,但即使是真的,
现在国内北京上海这样人也一大把.你是无论知道不知道都要满嘴跑一下火车的那种人,
希望你继续贴,我和很多人一样也等着看你还认识谁,挺有意思.
这有100个所。爱查都来查，多少中国PAR和ASSOCIATE留守美国。最后统计一下信息，基本也就清楚了什么级别,哪个地区的美国律所,爱收留什么法律方向的中国PAR.造福大家。
1.Wachtell
2. Cravath
3. Skadden
4. Sullivan & Cromwell
5. Davis Polk
6. Weil Gotshal
7. Simpson, Thacher & Bartlett
8. Cleary
9. Covington & Burling
10. Kirkland & Ellis
11. Williams & Connolly
12. Debevoise & Plimpton
13. Paul Weiss
14. Gibson Dunn
15. Sidley Austin
16. W... 阅读全帖 |
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w**k
发帖数: 1455 | 35 醒醒，连New York大所，Cravath，S&C， DPW这样的干10年，也就junior partner头两
年，都拿不到 1 million
什么太多律师，太夸张了
算算billable hours也知道不太可能
就是拿contingent fee，你也得找到能赚钱的case才行啊 |
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m****e
发帖数: 160 | 36 我是女的，但总体感觉是：1）如果是business casual 的律所，除了见客户 / 上庭 /
对外会议之外平时不需要打领带； 2）条纹衬衫不是不可以，但穿的人不多； 3）一
般而言，衣服的搭配要让人一周之内看不出来明显重复，不过这个对于男士来说可能没
这么重要。
这是我在纽约某大所知道的情况，别的地方可能会更加casual. 当然Cravath那样平时
也要求business formal 的所另当别论。 |
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L***z
发帖数: 454 | 37 For most senior associates.
I am so lucky that I no longer work for a law firm... |
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L*********h
发帖数: 2617 | 38
why do you feel lucky for not getting $60k year end bonus?
cause you get a better work life balance? |
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