not that it impacts anyone here in xo2019 right

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39087193)

*breathes a sigh of relief*

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39087199)

Class of 2017 — $200,000

Class of 2016 — $220,000

Class of 2015 — $255,000

Class of 2014 — $280,000

Class of 2013 — $305,000

Class of 2012 — $325,000

Class of 2011 — $340,000

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39089733)

>>Above the Law speculates that law firms may be holding back bonuses this year in preparation for a possible market correction. “I kind of get why firms would be cautious,” writes Above the Law blogger Elie Mystal.

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39087244)

*might cause firm to implode catastrophically

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39090584)

Savings obtained from associate salaried remaining the same for 10 years were never passed onto your company.

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39089750)

per lawyer for all categories of lawyers across the market. While the number of worked hours has been

reasonably stable in recent years, it is important to note that, compared to average billable hours in the

pre-recession years (i.e., prior to 2008), there remains a significant difference. By way of illustration, in

2007, the billable hours worked averaged 134 per month. Through 2018, the average is now 122 per

month, or a difference of 144 hours per year from the 2007 level. To see the economic impact of this

reduction in productivity, one need only multiply this annual difference by the average worked rate in 2018

of $489 per hour, to see that the decreased productivity over the last decade cost firms some $70,416 per

lawyer per year in 2018. For a firm of 200 lawyers, that translates to a total cost of $14.1 million; for a firm of

400 to $28.2 million; and for a firm of 600 to $42.3 million.

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39090590)

you're doing the same work for 1/3 the pay. and if you're in house, you're a cost center that will be first to go if the recession hits.

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39091214)

In-house counsel calls and gets 12% discount for new matter. Proudly reports the savings to the C suite.

Rates go up 15% next year.

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39090151)

On the negative side, while the overall results described above were positive, it must be noted that they were

driven significantly by Am Law 100 firms (and, indeed, within that grouping, by Am Law 50 firms), as well as by

some niche firms in the Midsize group. Performance by other firms – including particularly firms in the Am Law

Second 100 and some firms in the Am Law 100 and Midsize groups – were well below the market averages.

This continues the strong trend toward market segmentation that we saw in 2017 and raises the interesting

question of why different parts of the market are performing in strikingly different ways.

Apart from segmentation, there were other financial indicators that were somewhat surprising given the

relative stagnation in the market over the past several years. One of the most dramatic was a second round

of associate compensation increases that drove associate salaries and bonuses to record levels and that will

have a serious impact on the bottom lines of many firms in the coming year. Considering that productivity has

been essentially flat to declining in almost every year since the Great Recession, such compensation increases

appear – at least at first blush – to be counterintuitive.

A similar observation could be made about the aggressive increase in worked rates seen in 2018. Given the

tepid growth in demand for law firm services, the increased willingness of clients to move business to lower

cost firms or alternative service providers, and the continuing client push back on rate increases (as reflected

in declining realization rates), it is counterintuitive that firms would propose aggressive rate increases or that

clients would accept them. But that appears to be what happened.

http://www.managingpartnerforum.org/tasks/sites/mpf/assets/image/MPF%20FEATURED%20WHITE%20PAPER%20-%202019%20State%20of%20Legal%20Market%20-%20GeorgetownLaw-ThomsonReuters%20-%202-8-19.pdf

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39090547)

LOL @ GC

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39103644)

Then I remember that after taxes, it'd be like $50,000, which wouldn't even cover preschool for 2 of my kids.

Conversely, in flyover, my shitty in-house bonus would pay for preschool for 12 kids...

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39091587)

Class of 2019 — $15,000

Class of 2018 — $15,000

Class of 2017 — $25,000

Class of 2016 — $50,000

Class of 2015 — $65,000

Class of 2014 — $80,000

Class of 2013 — $90,000

Class of 2012 — $100,000

Class of 2011 — $100,000

https://www.law.com/2019/11/11/cravath-matches-associate-bonuses-after-early-announcement-from-milbank/

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39103166)

Class of 2018 — $190,000 + $15,000 = $205,000

Class of 2017 — $200,000 + $25,000 = $245,000

Class of 2016 — $220,000 + $50,000 = $270,000

Class of 2015 — $255,000 + $65,000 = $315,000

Class of 2014 — $280,000 + $80,000 = $360,000

Class of 2013 — $305,000 + $90,000 = $395,000

Class of 2012 — $325,000 + $100,000 = $425,000

Class of 2011 — $340,000 + $100,000 = $440,000

Nice thing about the recession was a correction to spread out the bonuses, they used to be so compressed, but firms recognize that value of 4th years is so much greater and salaries start to widen from there.

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39107469)

Whether there should be a macro shift to generally lower pay scales and/or a different work culture across the industry is a separate topic and one that won't be raised, if ever, until there's a secular change in demand for high-end legal services.

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39107688)

Lol at all you penny pinching in house lawyers suddenly saying biglaw associates are overpaid and supposedly hurting your company’s bottom line. You know what hurts your company’s bottom line? Paying you $300k to do in house work that is 90% made up busywork. The other 10% of “sophisticated” work is outsourced to biglaw.

(http://www.autoadmit.com/thread.php?thread_id=4378134&forum_id=2#39107852)