{ "media_type": "text", "post_content": "How do the few firms remaining in the AmLaw100 that have not matched market base compensation or bonuses justify not doing so at this point for at least the traditional NY/CA/DC offices?", "post_id": "61a7f9ac1e04ae002f918fac", "reply_count": 12, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d052", "bowl_name": "Law" }

How do the few firms remaining in the AmLaw100 that have not matched market base compensation or bonuses justify not doing so at this point for at least the traditional NY/CA/DC offices?

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First, I take offense at your exclusion of Chicago. Second, these firms see themselves as offering more value to the client. That probably doesn't make sense to you, but they are successfully competing with other Amlaw 100 firms by doing so. Third, the associates are subject to different expectations and partnership requirements are more achievable. They certainly believe they are offering something in exchange for the reduced pay. Along those same lines, partners tend to have more reasonable expectations because they know they can't afford to abuse associates.

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They don’t care and there are still a huge number of attorneys willing to leave a midsize or other firms to make what they are paying.

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I don’t know… 600 million plus in profits at the back end suggests the entire league is made up of the Yankees and Dodgers (note: the Dodgers are a lot more financially risk averse than your analogy allows, but I’ll go with it).

Some firms tout having a “better” culture and “more” work-life balance as the trade off. Some even somewhat honestly. My firm is market now but wasn’t always, and in my group the better culture/work-life balance was an actual thing. And it was a difference of $10k per year, nothing major. Well worth the trade off in my opinion, for my group at least.

helpfullike

Yeah. I worked at a lower AmLaw100 firm and they gave an officemate, 6th year lateral, who billed 2600+, an 11K bonus. Less than stubs at market firms. We both peaced right out!

Stubs are prorated

My lower Am100 first just gave me a $60k bonus for a big year. Not what I'd get at cravath, but I also took nearly two months off in total for major surgery/recovery and no one complained at all. Pretty happy with my wlb.

7th. Up for shareholder in two years.

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