Related Posts
Mondays post vacation are so fucking depressing
Community Builder
Conversation Starter
Additional Posts in Big Law
Subject Expert
Anonymous User
Best recruiters for moving in-house?
Subject Expert
Coach
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Coach
LOL big law is very much like a union. That’s why we get paid so much. That’s why partners aren’t making 6000x our salaries like they would if we were working for any public company. That’s why when firms increase salaries, most others follow. That’s why we have better health insurance and benefits than the majority of Americans. I could go on. There is always power in numbers and big law associates have (perhaps subconsciously) acted accordingly.
Overachievers are always going to exist. The trick is snuffing them out and making sure those of us who are normal continue to resist allowing them to set toxic expectations for the rest of us and don’t forget they we hold the power due to our numbers.
The reason why partners aren't making 6000x the associate salary (like a CEO of a pubco) is because there are 100s of partners. If law firms were corporations with only a handful of executive officers and partners were equivalent to CEOs instead of shareholders, they'd 100% be making 6000x the associate salary lol
Coach
I wouldn't support it. If you're stupid enough to work here that long, you kind of deserve it.
Mentor
We 100% need a union. Let me know when the first meeting is.
My firm pays NEPs around $900k a year and EPs starting at more than $1.6mm… I don’t think it’s terrible trade off
Mentor
This. Ppl should just go to a better firm if your NEP gig sucks.
If my firm tried to unionize I’d ask the partner I work for where are we going to lateral.
You’re missing the flip side. Without NEPs, folks would be sitting as associates for a lot longer (with accompanying lower pay). Yes, some firms unfairly use NEP as a forever holding ground, but when it is a temporary place (no more than 3 years) it’s actually not bad.
P2, when you consider the alternative is that these folks were just fired before, that’s true.
Mentor
I actually think this is a free market issue. They've managed to convince the industry that more NEP are good for them. Sure it's absolutely a higher floor for the majority of folks, but they sell it as a benefit for those looking for a better shot at equity and that it is not. Look at the nominal growth of equity partners as the NEP count has shot up and you'll see what it is
Enthusiast
My firm only recently instituted NEPs, and prior to that, they’d promote like 4-8 people to partner firm wide each year. Now they are promoting like 30-40 to NEPs. So it’s worse for those 4-8 people that might have gone straight to equity, but it is better for anyone else that wants to stay, and NEPs at my firm are making about double senior associate pay +/- $200k, so it’s not a bad deal and some of them are still making equity after a few years.
Enthusiast
Probably true, and you would know better than me. I also don’t think it is that unfair. People complain because of how it used to be…but was it really fair before to the people bringing in all the work? Not really.
If the big rainmaking partners left and went somewhere else, we wouldn’t even have jobs…
Mentor
You guys reported me for the “communist” comment?