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NakedPowerOrgan

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Re: NYC to 200k

Post by NakedPowerOrgan » Mon Jun 18, 2018 3:38 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Hogan Partner: "We are in the middle of reviewing how this will impact us."
Is this a reference to CovingTTTon 2016 or just plain 'ol trolling?
Neither - Hogan associate here. This was a statement made today by a partner.
Okay so translate to "we will wait until the last possible minute to even consider matching."
“We are in the middle of trying to decide whether we can still afford our vacation homes, gifts for mistresses, private-school tuitions, and alimony payments.”

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Re: NYC to 200k

Post by NakedPowerOrgan » Mon Jun 18, 2018 4:05 pm

Anonymous User wrote:
Anonymous User wrote:
And even lower PEP than Covington... let's pick a metric and go with it rather than redefine "rich" firms to achieve desired results. Dentons is one of the largest firms in the world by revenue--don't think anyone's gonna start calling for #(upstate)NYto190
Like many other firms with low-seeming PEP numbers, HL has like 50 offices, many of which are in places like Zagreb and Johannesburg and Ulaanbataar (yes, really). Something tells me the partners in Mongolia make less than they do in Washington, DC. I'd be willing to bet that the U.S. partners make comparable amounts to partners at every other V30ish firm.
I’m not buying it. The vast majority of partners appear to be based in the U.S. or in London, and most of the outposts have only a couple of partners, e.g., Hogan technically has an office in Ho Chi Minh City, but of the three partners purportedly there, one is split among Singapore, Hanoi, and HCMC (she’s listed as based in Singapore), another is split among Hong Kong, Hanoi, and HCMC (he’s listed as being out of the Hong Kong Office), and the last is split between Hanoi and HCMC (going off his CV, very likely he’s a non-equity partner). Mongolia has one counsel and two “Associated Partners” (something tells me those are non-equity partners, but I’m not sure). I doubt that’s what’s driving Hogan’s low PPP. Maybe once you adjust for lower-paid non-U.S. equity partners, Hogan DC partners are in the realm of Covington DC partners, but neither firm can compare to a lot of the big NYC firms in terms of profitability.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 4:11 pm

NakedPowerOrgan wrote:
Anonymous User wrote:
Anonymous User wrote:
And even lower PEP than Covington... let's pick a metric and go with it rather than redefine "rich" firms to achieve desired results. Dentons is one of the largest firms in the world by revenue--don't think anyone's gonna start calling for #(upstate)NYto190
Like many other firms with low-seeming PEP numbers, HL has like 50 offices, many of which are in places like Zagreb and Johannesburg and Ulaanbataar (yes, really). Something tells me the partners in Mongolia make less than they do in Washington, DC. I'd be willing to bet that the U.S. partners make comparable amounts to partners at every other V30ish firm.
I’m not buying it. The vast majority of partners appear to be based in the U.S. or in London, and most of the outposts have only a couple of partners, e.g., Hogan technically has an office in Ho Chi Minh City, but of the three partners purportedly there, one is split among Singapore, Hanoi, and HCMC (she’s listed as based in Singapore), another is split among Hong Kong, Hanoi, and HCMC (he’s listed as being out of the Hong Kong Office), and the last is split between Hanoi and HCMC (going off his CV, very likely he’s a non-equity partner). Mongolia has one counsel and two “Associated Partners” (something tells me those are non-equity partners, but I’m not sure). I doubt that’s what’s driving Hogan’s low PPP.
It definitely is. There is a lot of overhead that comes with those offices. We also have large offices outside the US besides London, including Mexico City, Frankfurt, and Hamburg.

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Re: NYC to 200k

Post by NakedPowerOrgan » Mon Jun 18, 2018 4:27 pm

Anonymous User wrote:
NakedPowerOrgan wrote:
Anonymous User wrote:
Anonymous User wrote:
And even lower PEP than Covington... let's pick a metric and go with it rather than redefine "rich" firms to achieve desired results. Dentons is one of the largest firms in the world by revenue--don't think anyone's gonna start calling for #(upstate)NYto190
Like many other firms with low-seeming PEP numbers, HL has like 50 offices, many of which are in places like Zagreb and Johannesburg and Ulaanbataar (yes, really). Something tells me the partners in Mongolia make less than they do in Washington, DC. I'd be willing to bet that the U.S. partners make comparable amounts to partners at every other V30ish firm.
I’m not buying it. The vast majority of partners appear to be based in the U.S. or in London, and most of the outposts have only a couple of partners, e.g., Hogan technically has an office in Ho Chi Minh City, but of the three partners purportedly there, one is split among Singapore, Hanoi, and HCMC (she’s listed as based in Singapore), another is split among Hong Kong, Hanoi, and HCMC (he’s listed as being out of the Hong Kong Office), and the last is split between Hanoi and HCMC (going off his CV, very likely he’s a non-equity partner). Mongolia has one counsel and two “Associated Partners” (something tells me those are non-equity partners, but I’m not sure). I doubt that’s what’s driving Hogan’s low PPP.
It definitely is. There is a lot of overhead that comes with those offices. We also have large offices outside the US besides London, including Mexico City, Frankfurt, and Hamburg.
So who’s paying for that overhead? None of it is coming from firm revenue that might otherwise be distributed to, among others, equity partners in U.S. offices? Even if the U.S. equity partners were seeing, on average, double the profits as Hogan’s non-U.S. colleagues, U.S. equity partners would still only have about as much PPP as Alston & Bird and might crack the top 40 for PPP. (And if Hogan’s non-U.S. equity partners accounted for literally zero dollars in profit, the U.S. equity partners’ PPP would still be lower than Fried Frank.)
Last edited by NakedPowerOrgan on Mon Jun 18, 2018 4:37 pm, edited 2 times in total.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 4:34 pm

Is there any justifiable reason for a firm that's made its decision to match to wait to announce it?

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 4:37 pm

Anonymous User wrote:Is there any justifiable reason for a firm that's made its decision to match to wait to announce it?
Only one I can think of is if there are some big and particularly cost-sensitive clients who would appreciate a heads-up call and maybe a promise that their rates won't go up or something.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 4:38 pm

NakedPowerOrgan wrote:
Anonymous User wrote:
NakedPowerOrgan wrote:
Anonymous User wrote:
Anonymous User wrote:
And even lower PEP than Covington... let's pick a metric and go with it rather than redefine "rich" firms to achieve desired results. Dentons is one of the largest firms in the world by revenue--don't think anyone's gonna start calling for #(upstate)NYto190
Like many other firms with low-seeming PEP numbers, HL has like 50 offices, many of which are in places like Zagreb and Johannesburg and Ulaanbataar (yes, really). Something tells me the partners in Mongolia make less than they do in Washington, DC. I'd be willing to bet that the U.S. partners make comparable amounts to partners at every other V30ish firm.
I’m not buying it. The vast majority of partners appear to be based in the U.S. or in London, and most of the outposts have only a couple of partners, e.g., Hogan technically has an office in Ho Chi Minh City, but of the three partners purportedly there, one is split among Singapore, Hanoi, and HCMC (she’s listed as based in Singapore), another is split among Hong Kong, Hanoi, and HCMC (he’s listed as being out of the Hong Kong Office), and the last is split between Hanoi and HCMC (going off his CV, very likely he’s a non-equity partner). Mongolia has one counsel and two “Associated Partners” (something tells me those are non-equity partners, but I’m not sure). I doubt that’s what’s driving Hogan’s low PPP.
It definitely is. There is a lot of overhead that comes with those offices. We also have large offices outside the US besides London, including Mexico City, Frankfurt, and Hamburg.
So who’s paying for that overhead? None of it is coming from firm revenue that might otherwise be distributed to, among others, equity partners in U.S. offices? Even if the U.S. equity partners were seeing, on average, double the profits as Hogan’s non-U.S. colleagues, U.S. equity partners would still only have about as much PPP as Alston & Bird and might crack the top 40 for PPP.
Show the math.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 4:38 pm

Anonymous User wrote:
Anonymous User wrote:Is there any justifiable reason for a firm that's made its decision to match to wait to announce it?
Only one I can think of is if there are some big and particularly cost-sensitive clients who would appreciate a heads-up call and maybe a promise that their rates won't go up or something.
These fuckers raise rates regardless of what they pay us.

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Re: NYC to 200k

Post by NakedPowerOrgan » Mon Jun 18, 2018 4:48 pm

Anonymous User wrote:
NakedPowerOrgan wrote:
Anonymous User wrote:
NakedPowerOrgan wrote:
Anonymous User wrote:
Anonymous User wrote:
And even lower PEP than Covington... let's pick a metric and go with it rather than redefine "rich" firms to achieve desired results. Dentons is one of the largest firms in the world by revenue--don't think anyone's gonna start calling for #(upstate)NYto190
Like many other firms with low-seeming PEP numbers, HL has like 50 offices, many of which are in places like Zagreb and Johannesburg and Ulaanbataar (yes, really). Something tells me the partners in Mongolia make less than they do in Washington, DC. I'd be willing to bet that the U.S. partners make comparable amounts to partners at every other V30ish firm.
I’m not buying it. The vast majority of partners appear to be based in the U.S. or in London, and most of the outposts have only a couple of partners, e.g., Hogan technically has an office in Ho Chi Minh City, but of the three partners purportedly there, one is split among Singapore, Hanoi, and HCMC (she’s listed as based in Singapore), another is split among Hong Kong, Hanoi, and HCMC (he’s listed as being out of the Hong Kong Office), and the last is split between Hanoi and HCMC (going off his CV, very likely he’s a non-equity partner). Mongolia has one counsel and two “Associated Partners” (something tells me those are non-equity partners, but I’m not sure). I doubt that’s what’s driving Hogan’s low PPP.
It definitely is. There is a lot of overhead that comes with those offices. We also have large offices outside the US besides London, including Mexico City, Frankfurt, and Hamburg.
So who’s paying for that overhead? None of it is coming from firm revenue that might otherwise be distributed to, among others, equity partners in U.S. offices? Even if the U.S. equity partners were seeing, on average, double the profits as Hogan’s non-U.S. colleagues, U.S. equity partners would still only have about as much PPP as Alston & Bird and might crack the top 40 for PPP.
Show the math.
Back of napkin, but Hogan has 244 equity partners in the U.S. according to the latest NALP numbers. Hogan submitted to Am Law that they have 556 total equity partners, worldwide. Hogan’s 2017 PPP were $1.283MM, translating to $713,348MM total profits. If 2/3 of those profits (i.e., $475,565MM) were allocated to U.S. partners, that would be $1.949MM profits per U.S. equity partner, i.e., roughly the same as Alston & Bird’s PPP. If ALL of those profits were allocated to U.S. partners, that would be $2.924MM profits per U.S. equity partner, i.e., less than Fried Frank’s $2.942MM PPP.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 4:53 pm

Anonymous User wrote:Is there any justifiable reason for a firm that's made its decision to match to wait to announce it?
If a firm is one of the last firms to match, the firm can tell its clients (who see the raises as coming out of their pockets) that the firm had no control over the increase, and did not want to do so, but was forced to go along with the raises to remain competitive. Whereas if the firm is one of the first to match, a client might argue that the firm had a hand in encouraging salary increases (and therefore rates).

Moving/matching first makes sense from an associate/recruiting-centric mindset, whereas matching last makes sense from a client-centric mindset.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 4:55 pm

Anonymous User wrote:Latham might be at its summer retreat, no?
Summer academy for Latham was last week. Still no indication they when/if they will match.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 5:02 pm

Anonymous User wrote:
Anonymous User wrote:Is there any justifiable reason for a firm that's made its decision to match to wait to announce it?
If a firm is one of the last firms to match, the firm can tell its clients (who see the raises as coming out of their pockets) that the firm had no control over the increase, and did not want to do so, but was forced to go along with the raises to remain competitive. Whereas if the firm is one of the first to match, a client might argue that the firm had a hand in encouraging salary increases (and therefore rates).

Moving/matching first makes sense from an associate/recruiting-centric mindset, whereas matching last makes sense from a client-centric mindset.
At this point, any firm matching the Cravath scale could hardly be seen as being "having a hand in encouraging salary increases." The ball is already in motion and no one except for Milbank, STB, and Cravath can claim credit for it. Frankly, it is bizarre that we haven't seen more activity today.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 5:04 pm

Anonymous User wrote:
Anonymous User wrote:Is there any justifiable reason for a firm that's made its decision to match to wait to announce it?
If a firm is one of the last firms to match, the firm can tell its clients (who see the raises as coming out of their pockets) that the firm had no control over the increase, and did not want to do so, but was forced to go along with the raises to remain competitive. Whereas if the firm is one of the first to match, a client might argue that the firm had a hand in encouraging salary increases (and therefore rates).

Moving/matching first makes sense from an associate/recruiting-centric mindset, whereas matching last makes sense from a client-centric mindset.
Timing/productivity. Perhaps the comp committee at a firm couldn't meet until this week and does not want to announce until Friday afternoon/evening when they are less likely to be bringing in as much revenue as a weekday night. Associates are likely to take the night off to celebrate when they hear the news.

Yes, I know it's inaccurate to say associates won't be working Friday nights, but I think you're more likely to have more associates working on another weekday night.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 5:20 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Is there any justifiable reason for a firm that's made its decision to match to wait to announce it?
If a firm is one of the last firms to match, the firm can tell its clients (who see the raises as coming out of their pockets) that the firm had no control over the increase, and did not want to do so, but was forced to go along with the raises to remain competitive. Whereas if the firm is one of the first to match, a client might argue that the firm had a hand in encouraging salary increases (and therefore rates).

Moving/matching first makes sense from an associate/recruiting-centric mindset, whereas matching last makes sense from a client-centric mindset.
Timing/productivity. Perhaps the comp committee at a firm couldn't meet until this week and does not want to announce until Friday afternoon/evening when they are less likely to be bringing in as much revenue as a weekday night. Associates are likely to take the night off to celebrate when they hear the news.

Yes, I know it's inaccurate to say associates won't be working Friday nights, but I think you're more likely to have more associates working on another weekday night.
This argument ignores the fact that waiting until Friday makes associates less productive for 5 days, because they'll have to continue reading this thread, ATL and speculating all week.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 5:21 pm

Cooley match but no bonus:

In regard to the summer bonuses being paid by some firms, we have chosen a different course
consistent with our long‐standing commitment to awarding merit‐based bonuses. In the Management
Committee’s view, the only basis upon which to decide who would receive a summer bonus and who
would not would be year‐to‐date billable hours averages through June. The variability of work flow and
the timing of leaves of absence and vacations across a given calendar year aside, the simple fact is that
our bonus system is not based upon productivity alone. As we have consistently demonstrated, we
differentially reward an attorney’s total contribution to the firm, to include performance, productivity
and non‐billable contributions which demonstrate behavior that is consonant with the Firm’s values.

Rather than pay bonuses based on productivity alone at this stage in the year, our 2018 bonuses will be
paid with a clear understanding of the total compensation being paid within the market at the
conclusion of the year. Consistent with prior years, our differentiated bonus payments will provide total
annualized compensation for our top performers which materially exceeds the total compensation
received by attorneys at other firms.

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Re: NYC to 200k

Post by Emma. » Mon Jun 18, 2018 5:22 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Is there any justifiable reason for a firm that's made its decision to match to wait to announce it?
If a firm is one of the last firms to match, the firm can tell its clients (who see the raises as coming out of their pockets) that the firm had no control over the increase, and did not want to do so, but was forced to go along with the raises to remain competitive. Whereas if the firm is one of the first to match, a client might argue that the firm had a hand in encouraging salary increases (and therefore rates).

Moving/matching first makes sense from an associate/recruiting-centric mindset, whereas matching last makes sense from a client-centric mindset.
Timing/productivity. Perhaps the comp committee at a firm couldn't meet until this week and does not want to announce until Friday afternoon/evening when they are less likely to be bringing in as much revenue as a weekday night. Associates are likely to take the night off to celebrate when they hear the news.

Yes, I know it's inaccurate to say associates won't be working Friday nights, but I think you're more likely to have more associates working on another weekday night.
God I hope they know better. It’s the waiting that’s killing my productivity.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 5:24 pm

Anonymous User wrote:Cooley match but no bonus:

In regard to the summer bonuses being paid by some firms, we have chosen a different course
consistent with our long‐standing commitment to awarding merit‐based bonuses. In the Management
Committee’s view, the only basis upon which to decide who would receive a summer bonus and who
would not would be year‐to‐date billable hours averages through June. The variability of work flow and
the timing of leaves of absence and vacations across a given calendar year aside, the simple fact is that
our bonus system is not based upon productivity alone. As we have consistently demonstrated, we
differentially reward an attorney’s total contribution to the firm, to include performance, productivity
and non‐billable contributions which demonstrate behavior that is consonant with the Firm’s values.

Rather than pay bonuses based on productivity alone at this stage in the year, our 2018 bonuses will be
paid with a clear understanding of the total compensation being paid within the market at the
conclusion of the year. Consistent with prior years, our differentiated bonus payments will provide total
annualized compensation for our top performers which materially exceeds the total compensation
received by attorneys at other firms.
Not Cool...ey

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 5:25 pm

Anonymous User wrote:Cooley match but no bonus:

In regard to the summer bonuses being paid by some firms, we have chosen a different course
consistent with our long‐standing commitment to awarding merit‐based bonuses. In the Management
Committee’s view, the only basis upon which to decide who would receive a summer bonus and who
would not would be year‐to‐date billable hours averages through June. The variability of work flow and
the timing of leaves of absence and vacations across a given calendar year aside, the simple fact is that
our bonus system is not based upon productivity alone. As we have consistently demonstrated, we
differentially reward an attorney’s total contribution to the firm, to include performance, productivity
and non‐billable contributions which demonstrate behavior that is consonant with the Firm’s values.

Rather than pay bonuses based on productivity alone at this stage in the year, our 2018 bonuses will be
paid with a clear understanding of the total compensation being paid within the market at the
conclusion of the year. Consistent with prior years, our differentiated bonus payments will provide total
annualized compensation for our top performers which materially exceeds the total compensation
received by attorneys at other firms.
what's standard bonus practice for cooley? is it black box or standard full bonus for hitting hours and then extra for top billers?

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 5:26 pm

Emma. wrote: God I hope they know better. It’s the waiting that’s killing my productivity.
Guy with the productivity theory here. I agree - I'm less productive for the waiting game. But let's not forget that this page is practically dead and most of our peers are just assuming they will get it at some point.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 5:34 pm

Anonymous User wrote:
Emma. wrote: God I hope they know better. It’s the waiting that’s killing my productivity.
Guy with the productivity theory here. I agree - I'm less productive for the waiting game. But let's not forget that this page is practically dead and most of our peers are just assuming they will get it at some point.
This page is dead because 30 firms have matched, and those associates have tuned out.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 5:37 pm

Anonymous User wrote:Cooley match but no bonus:

In regard to the summer bonuses being paid by some firms, we have chosen a different course
consistent with our long‐standing commitment to awarding merit‐based bonuses. In the Management
Committee’s view, the only basis upon which to decide who would receive a summer bonus and who
would not would be year‐to‐date billable hours averages through June. The variability of work flow and
the timing of leaves of absence and vacations across a given calendar year aside, the simple fact is that
our bonus system is not based upon productivity alone. As we have consistently demonstrated, we
differentially reward an attorney’s total contribution to the firm, to include performance, productivity
and non‐billable contributions which demonstrate behavior that is consonant with the Firm’s values.

Rather than pay bonuses based on productivity alone at this stage in the year, our 2018 bonuses will be
paid with a clear understanding of the total compensation being paid within the market at the
conclusion of the year. Consistent with prior years, our differentiated bonus payments will provide total
annualized compensation for our top performers which materially exceeds the total compensation
received by attorneys at other firms.
Associates at Cooley--a firm with profits per partner over $2 million--should be very unhappy about this, not least because of the disingenuous language attempting to justify or excuse it.

Now that so many firms have matched the raise (or adjustment to keep pace with inflation) and bonus, talented and hard working associates at Cooley don't need to look far to see many peers at many peer firms making more than them. Those firms place greater value on their associate attorneys. Simple as that.

Students at Harvard, Stanford, Yale, and everywhere else should consider this in weighing whether or not to interview at a firm like Cooley at OCI. Sure, Cooley matched the salary adjustment. Next time there is a bonus at peer firms, however, do you expect Cooley to match it?

And for current associates considering a lateral market that is doing very well, why stay, when you could go to a firm that will compensate you for all of your efforts at the going market rate? What does it say about Cooley and the extent to which they value their associates that they won't match what most other big firms already have? Is their $2,000,000 in profits per partner not enough?

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 5:40 pm

It seems pretty clear that Cooley intends to match the bonuses at the end of the year. People are losing out on interest, but that seems like about it.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 5:48 pm

Anonymous User wrote: Associates at Cooley--a firm with profits per partner over $2 million--should be very unhappy about this, not least because of the disingenuous language attempting to justify or excuse it.

Now that so many firms have matched the raise (or adjustment to keep pace with inflation) and bonus, talented and hard working associates at Cooley don't need to look far to see many peers at many peer firms making more than them. Those firms place greater value on their associate attorneys. Simple as that.

Students at Harvard, Stanford, Yale, and everywhere else should consider this in weighing whether or not to interview at a firm like Cooley at OCI. Sure, Cooley matched the salary adjustment. Next time there is a bonus at peer firms, however, do you expect Cooley to match it?

And for current associates considering a lateral market that is doing very well, why stay, when you could go to a firm that will compensate you for all of your efforts at the going market rate? What does it say about Cooley and the extent to which they value their associates that they won't match what most other big firms already have? Is their $2,000,000 in profits per partner not enough?
I tend to agree with most of this. At my firm meeting your hours = market bonus. If I wasn't hitting my annual rate, I'd know by now, and would be expecting the resulting lower (or no) bonus come year end. It's my own fault for missing the hours (or my practice group's, in which case I'd be more concerned about work drying up than bonuses), so missing the summer bonus isn't going to be a shocker. Other firms say "in good standing" and that's what I assume they mean. So their justification is flame.

I'm not, however, 100% with you on your recommendation to consider lateraling. If I had been doing well at the firm (read: above market bonuses) and was on track for more of the same this year, I would probably want to wait it out to see what my firm did. We'll know whether to trust Cooley in December/January.

With that being said, for those outside of Cooley (i.e., OCI bidders), you may want to take this into consideration. You won't know until later in the year where Cooley stands, at which point changing your summer firm will be futile. I'm not saying don't bid, but it's something to consider seriously when you're balancing your final list, callbacks, offers, etc.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 5:49 pm

Anonymous User wrote:It seems pretty clear that Cooley intends to match the bonuses at the end of the year. People are losing out on interest, but that seems like about it.
Yeah no. 90% of Cooley associates will never see this summer bonus. Those who make hours will get regular market bonus, some associates will leave, others will not make hours. Clever, shitty, and transparent move on the part of Cooley partners.

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Re: NYC to 200k

Post by Anonymous User » Mon Jun 18, 2018 5:55 pm

Anonymous User wrote:It seems pretty clear that Cooley intends to match the bonuses at the end of the year. People are losing out on interest, but that seems like about it.
This is absolutely not clear from the Cooley memo quoted above. It would have been very easy for firm management to match the bonuses. It would have been very easy for firm management to state unequivocally that Cooley associates who have good reviews and meet hours requirements will receive December bonuses that are above market by the amount of these summer bonuses. Cooley management didn't do that. They instead issued a memo with a bunch of hot air.

Cooley associates--or Cooley associates who are still around--who are unhappy now will be doubly unhappy in December when their bonuses aren't $10k or $15k or $25k over market to make up for this.

Seriously? What are you waiting for?

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