{ "media_type": "text", "post_content": "Are firms across the board going to raise their salary scales to match Milbank?", "post_id": "61e99225e8f510003865f13b", "reply_count": 78, "vote_count": 16, "bowl_id": "552d1d24dc1c586b09d2d052", "bowl_name": "Law", "feed_type": "crowd" }

Are firms across the board going to raise their salary scales to match Milbank?

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It’s pretty group dependent like many other firms. The firm internally considers it self to be a V10 (LW, K&E, Weil, Cleary etc.) peer, which is true outside of the vault word from client perspective. Hours are the same as most top firms/peers. Everyone there likes to work hard. — V10 senior associate and Milbank alum.

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Even in a Miami AmLaw 20 firm I saw an associate bill 3000 hours until he made partner in 8 years. So I totally believe those hours in NYC.

Do “black box compensation” firms like Jones Day and Greenberg Traurig typically match these increases (or some sort of increase since more senior associates’ salaries aren’t necessarily lock step)? Starting as a lateral to one soon and curious what normally happens when they don’t typically publish salaries….

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Jones Day is such a joke firm. Their comp does not follow market developments and their culture is worse than the likes of K&E.

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If they don’t I’m going to Milbank, so….

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Sidley confirmed they will match but is willing to go over if other firms go higher.

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I’m tired of this “please stay swag.” Pay me.

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It’s an inflation match, so most of the major firms will.

likesmart

Yeah all the Insurance Defense firms will go from $80k to $150k.

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Sup, Mt. Laurel.

Productivity down big today. Just match already.

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Useless today 🙋🏽‍♀️

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Yes

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If the firm paid market before Milbank raised, they will also raise.

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Yeah I don’t really get this as a “true” question. Unless you’re at the way bottom of previously matching firms, they all need to match to stay competitive

Cries in Canadian salary scale

funnylikesmart

I mean, of course, US society is structured so those at the top 5-10% have pretty good lives. It’s just the bottom half that really suffer.

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Probably just keep your eyes on @NonEquityPartner’s Instagram story - he usually posts updates within 5 min of announcement

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Probably not my firm. I’m at one of the big L&E shops.

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Does anyone here know if Seyfarth normally gives cost of living increases every year?

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Moneyyyyyyy

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Is Milbank good to work for? Or do they cover up a brutal work culture with the highest wages?

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I’m at Milbank and think I have a better quality of life than most of my peers from law school. The point of lockstep compensation is to allow associates not to be stressed out about hours/making their bonus so they can focus on working. This fosters a culture where you can take vacation without worrying about hours and people are generally less competitive over work. I think the majority of people at the firm prefer this system because even though you can be really busy you can also be slow and when your slow for reasons outside of your control (ie some for of leave, market conditions, etc.) then you’re not financially penalized for it. Everyone has years where they are busier and slower so it evens out.

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That Steptoe memo - nice use of free marketing

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