{ "media_type": "text", "post_content": "Would you ever take a class haircut to lateral to what is considered a “worse” firm (but a firm that is better known in your practice area)? I’d be slightly shifting practice groups (which is why the haircut was mentioned. If so, would you ask for some massive bonus?", "post_id": "610abb6744dd3200247b478a", "reply_count": 9, "vote_count": 2, "bowl_id": "5df70ed2f7169f002b172d3f", "bowl_name": "Big Law" }

Would you ever take a class haircut to lateral to what is considered a “worse” firm (but a firm that is better known in your practice area)? I’d be slightly shifting practice groups (which is why the haircut was mentioned. If so, would you ask for some massive bonus?

like
Posting as :
works at
You are currently posting as works at

If I needed to lateral for some reason, sure. No if just searching for greener pastures without a driving motivation to leave current place. I did take a haircut for my last lateral (driven by geographic move) and it really ended up bothering me more than I thought it would. I had senior associate level responsibility for midlevel pay.

like

I took one and regretted it. Ended up junior to a guy who didn't take one but knew so much less than I did.

likefunny

Yeah, I second the above advice. In my experience, some firms us the class-year haircut as a salary cost-savings to stealthily pay below market. They’ll justify it on the basis of “you don’t want to not meet expectations” or “this will give you more runway to partner.” Hogwash. They’re just paying you less, and that compounds each year. I was pretty salty about it. I took the haircut and started as a 3rd year. And was immediately thrust into running deals for equity partners. That class-year differential (salary + bonus) adds up as the years tick by.

like

If you were moving Lit to transactional, or vice versa, sure. But “slightly” shifting practice groups doesn’t seem meaningful in this context. You’ll just learn the new ropes quickly and be up to speed in months, and then underpaid for years to follow.

like

Related - for those who have done this, have you later asked for a class realignment after a year or so of demonstrating your value? If so, tips or experience in doing so?

like

My experience comports with SC1. After the firm’s got you at a below-market rate, they’re not likely to up and pay you 50k+ more just because you’re where your experience says you should be. They might intimate during the recruitment process that you’ll be able to make a big jump, but once you’re locked in, it most likely will not happen. IME, offices in secondary/tertiary markets are especially liable to pull this crap, as are less profitable firms that still pretend to be “Cravath scale.” Basically, any office/firm that mostly lives off laterals from more prestigious places.

like

Thanks for responses. Let’s say I do take a haircut. Could I ask for like a $200k+ signing bonus given class year and the busy practice area?

uplifting

Lmk how this turns out. I’m thinking about doing the same (but not… 200k).

Related Posts

Hi, I am a consultant with 4 YOE in IQVIA. 17 CTC. How is work at Harman regards salary and work life balance. I am looking for a job switch. Thanks in advance

like

What is the salary range for a PwC Workday Financials Consultant - Financial Services at senior associate level? I have 4 YOE and a CPA. Looking at Raleigh NC.

like

NYC. Have one year of cw experience at a well known shop (started at 50) thinking about changing shops. What should I expect in terms of salary? 55k?

Deloitte S&A comp for SA with 5 years of exp?

like

So this might be a better place to post this and ask this question: Uncle D has announced explicitly that most people won’t get a pay raise & bonus this year except for those promoted and high performers. Amid this crisis, are companies including other big 3, MBB, FAANG, boutique consulting firms still giving high raises and issue stocks? Can you share the impact from your firm?

like

Hi Fishes, Can you please let me know of the average fixed salary for an IT Auditor within Big4? YoE - 2.5 yrs.

like

Have an offer with Accenture Interactive. 30% salary increase but nervous about the increase in hours. Currently pulling 40/45 at Deloitte. Can anyone provide insight into the culture at Accenture Interactive?

like

What is the relationship between amount of work sold and bonus, and at what level does that start to matter?

Has anyone here ever not negotiated for a higher salary when given an offer? Looking at one that is 25% higher than my current salary and I'm pretty happy about it but I always hear to always negotiate for more.

like

Does anyone know the process for applying/changing agencies within Publicis Groupe? What is the typical salary bump?

like

What is the average salary for manager role at Deloitte (role is HRST Planning and Program Management role)?

like
like

What is the salary bracket for Senior Associate in PWC ?

like

Expected salary for BAH in DC coming straight out of undergrad? Ivy League, consulting internship experiences.

like

Is ZS’ recruiting process always so disjointed? I get 1-2 calls a year that always go nowhere because my current salary is too high (it’s really not).

like

Hi All, I got offer from wipro for 14.5 LPA. Out of which 1,08,756 is variable. May i know how much would be my inhand salary? It is also written that 5.31% of your basic is towards provision of gratuity and employees will be eligible for payment of gratuity as per wipro policy. Can you give some idea?

like

Not comp related but a question on references: I’ve only had 2 direct managers, current one is nice but I can’t let him know I’m interviewing. Previous one was a bully and I made clear that I cut contact with him when I left (he later had to contact me for non-essential work related stuff but I declined to talk). I have other references I could use, but want to prep for situation when employers ask “why can’t we talk to your previous manager.” Thanks!

like

Anyone can share insights on what is the average salary raise and bonus at Grant Thornton and Moody's investors service? Also, what should be the salary expectation range for a 6+ YOE, MBA, CFA ,FRM for New York Location in the financial services industry?

like

I have a strict budget, max 401k/IRA, and invest in broad market index funds. If I’m not getting a raise/bonus till year end, is all that’s left just to... work and collect my paycheck? Feels like the entire year is planned out now

like

Additional Posts

I just got laid off and I just don’t know what to say “if” I ever get an interview. Any tips would be appreciated. I know when you get laid off, no one wants to hire you.

like

My partner and I are thinking about moving to NYC! Are there any CW jobs there right now or is it totally oversaturated from layoffs?

likefunny

Anyone working at Levy Ratner? How is the office culture and about how much do you get paid?

like

Hi, I am a consultant with 4 YOE in IQVIA. 17 CTC. How is work at Harman regards salary and work life balance. I am looking for a job switch. Thanks in advance

like
like

Moms of the bowl, did you take prenatal vitamins when trying for baby? And did you take them for the whole time while you were pregnant? Is there big difference in prenatal vitamins vs regular multivitamins?

like

What generally produces better returns - 401k invested in index, or landlords with leverage?

like

Anyone stuck at JFK right now? Landed for an hour now waiting for a gate 😐

like

What is the salary range for a PwC Workday Financials Consultant - Financial Services at senior associate level? I have 4 YOE and a CPA. Looking at Raleigh NC.

like

NYC. Have one year of cw experience at a well known shop (started at 50) thinking about changing shops. What should I expect in terms of salary? 55k?

What liturgical rite do you observe within the Catholic church? Ill go first, I attend the Traditional Latin Mass of the Latin Roman Rite underneath the one and holy Catholic apostolic umbrella of the church.

like

I just got laid off and I just don’t know what to say “if” I ever get an interview. Any tips would be appreciated. I know when you get laid off, no one wants to hire you.

like

Deloitte S&A comp for SA with 5 years of exp?

like

I am am Asian woman. I started a discussion about how we could improve our diversity and inclusion efforts on my UX team. I offered a possible solution. Out of a team of 14, only 4 responded, 2 female in support, 2 male with lukewarm and hostile responses. The silence is deafening from the rest of the team (all male). I don't want to be here anymore. I attribute this to being in Utah, majority white. Is it like this everywhere? Or if I change jobs, will it be better?

like

Today marks 6 months since my dad died from Covid. Thinking about all of you who lost loved ones during this difficult time

like

Does anyone feel like they’re getting really rusty with...talking? I feel like with such limited social interactions (except work meetings) I’m so awkward now. I’m interviewing right now and I feel sooo rusty.

like

I want to become a better people manager. I haven’t ever gotten any formal training in this and now my career will demand it. Any training, conferences, books you good folks recommend?

like

Hi Fishes, Can you please let me know of the average fixed salary for an IT Auditor within Big4? YoE - 2.5 yrs.

like

Has anyone ever applied to MBB multiple times before getting accepted? Or is the blacklisting thing real?

like

Feeling burnt out, like I’m not doing great work, in need of a major life change, and that I’m just in survival mode until the Holiday break. Meanwhile I feel guilt of having a stable remote job unlike so many others around the country. Someone tell me that I’m not alone

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal