So V&E raises, Andrews Kurth calls, and then BakerBotts comes in with the annoying re-raise. Was V&E just slowplaying this hand, hoping to be raised? What will Fulbright do in last position? What means "all in" for a law firm? Offering equity stakes to summer associates? Or maybe just a return to buying them ponies? Where's our waitress?
The hours include chargeable, pro bono and management approved non-chargeable hours.
Ah ha!
Posted by: d | March 21, 2006 at 10:04 AM
Makes working anywhere outside of Texas look bad financially.
Posted by: c | March 21, 2006 at 10:55 AM
bonus is just as important as base. TX-5; everywhere else 25-35.
Posted by: c is wrong | March 21, 2006 at 11:33 AM
I think c is actually right. Look at cost of living. I could have a villa here for what my half-decent apartment is going to set me back in L.A.
I wonder what the shake-down is. I'm waiting to hear that there are no more benefits, or that you have to wear firm-branded clothing at all times, or that minimum billable is up 20%, or that...
Posted by: Tbag | March 21, 2006 at 11:38 AM
@tbag- i agree on the cost of living, but that wasn't the point of c's post. the discrepancies b/w nationals and texas firms are still the same. nationals still make 35-40 more than TX. no reason why this raise would make any difference in making a decision.
Posted by: c is wrong | March 21, 2006 at 11:46 AM
1. Fulbright will surely match before the summer starts.
2. Other national firms with regional offices will follow.
3. It will be interesting to see which tx-based firms do not match. for years texas lawyers knew that the big-3 are in a class of their own. those who don't match are bascially acknowledging this.
4. If the entire texas market moves to 140, UT Law will move up in the rankings.
Posted by: Mr. P | March 21, 2006 at 06:05 PM
Law firms are lame.
Posted by: Ad-Rock | March 21, 2006 at 11:01 PM
Actually C is right. The discrepancies may still be the same (assuming you're making full bonus in NY), but, as T-Bag pointed out, the raise in TX can get you more than the raise in NY. The extra bump is going to go a significantly long way, whereas in NY it might let you get another 50 sq ft on your apartment. Just as $110,000 will go further in TX than $140,000 in NY, a $25,000 raise will go significantly further in TX as well. Logically, a raise of equal amounts is therefore worth far more to the TX attorneys than to the NY attorneys. Also, when you raise the amount that each attorney is making by the same amount (especially a substantial $25k increase), then the TX attorneys are now making a larger percentage of what the NY attorneys make. I don't know why I care--it's not like a have a horse in this race...
Posted by: Ron Mexico | March 22, 2006 at 10:33 AM
and less bonus means you dont have to work the extra hours to get a bonus so that you feel like there's some reason for still working in your lame east coast firm
Posted by: c is wrong is a douche | March 22, 2006 at 02:31 PM
Trust me, from a person that knows, Texas salaries will get you A LOT more, particularly in Dallas, than slightly higher salaries elsewhere. I am now elsewhere, in a city slightly smaller than the Dallas-Fort Worth area, with a job with one of the best firms in town....and frankly, the high cost of living compared to the salary absolutely bites. Long Live Texas Firm Salaries! Long Live Dallas Cheapness!
Posted by: k | March 22, 2006 at 03:08 PM
All I need is enough to get me one of these...
http://www.amazon.com/exec/obidos/tg/detail/-/B00067F1CE/ref=pd_lpo_k2a_1_img/103-3567738-8656645?_encoding=UTF8&v=glance
Posted by: The Donk | March 22, 2006 at 05:20 PM
Scuttlebutt says LockeLiddell is moving up to BakerBotts levels.
Posted by: wingsandvodka | March 22, 2006 at 06:03 PM
And word on the street is that Gardere will follow suit.
Posted by: | March 22, 2006 at 06:23 PM
I don't get d's post. Why "ah ha" about the billable hours?
Posted by: Q? | March 22, 2006 at 08:24 PM
It's not just Texas. A few SF firms, my own thankfully included, have jumped from $125K to a $135K base plus bonuses.
Posted by: divisadero | March 22, 2006 at 11:41 PM
For what it's worth, I hear that Winstead sent a memo to their associates informing them that they would NOT be following suit...
Posted by: | March 23, 2006 at 12:16 PM
what about hughes & luce?
Posted by: c is handsome | March 25, 2006 at 08:56 AM
Anyone know when firms are supposed to update NALP to reflect this stuff?
Posted by: YoYo | March 27, 2006 at 04:24 PM
And it keeps on - Jenkins & Gilchrist and Porter & Hedges raise... http://www.law.com/jsp/tx/PubArticleTX.jsp?id=1143557269134
Posted by: | March 29, 2006 at 12:46 AM
Hughes and Luce: http://www.law.com/jsp/tx/PubArticleTX.jsp?id=1143812714955
Posted by: | April 02, 2006 at 10:02 PM
Inspiring. The other challenge for purifying the mind is to live in a 10 sq m hut [10'x10' or 100 sq ft]. Then all 100 items in there would make you want to pare down even further. It seems hard to imagine, but if we could, we can see how peaceful it would be compared to what we normally do - hmmm ??? Why do we do this, anyway?!?
Thanks for bringing us to a modern day Walden Pond.
Posted by: buy kamagra | April 22, 2010 at 05:42 PM
Hughes and Luce: http://www.law.com/jsp/tx
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