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V&E raises to 135k for all Texas offices
Poast new message in this thread
Date: March 8th, 2006 4:08 PM Author: Boyish cuckoldry trailer park The latest news per GA. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5282798) |
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Date: March 8th, 2006 4:09 PM Author: Cerise Space I know you are lying, but I'm going to check anyway. If you are not lying, the person on GA is probably lying. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5282813) |
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Date: March 8th, 2006 4:13 PM Author: swashbuckling peach psychic It seems to be true. Multiple confirmations on GA. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5282841) |
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Date: March 8th, 2006 4:15 PM Author: Cerise Space Wow. I wonder about the details, though. Previously, V&E pegged their first-year compensation at $127k on NALP, which included almost every conceivable distribution of money from V&E to an associate (signing bonus, moving expenses, parking, etc.). I wonder if this is the same thing. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5282858) |
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Date: March 8th, 2006 6:21 PM Author: Boyish cuckoldry trailer park I never lie. Consider yourself truth pwn3d. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283938) |
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Date: March 8th, 2006 4:31 PM Author: Soggy meetinghouse Wow, seems to be real. Good news. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5282950) |
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Date: March 8th, 2006 5:01 PM Author: aquamarine box office twinkling uncleanness What makes you say that? Have any inside info? (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283159) |
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Date: March 8th, 2006 5:02 PM Author: Soggy meetinghouse At least 5 or 6 people confirmed. A couple I recognized as regulars. It could, of course, be an elaborate hoax. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283174) |
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Date: March 8th, 2006 5:14 PM Author: aquamarine box office twinkling uncleanness I would cry if it was a hoax.
If it's the real deal, i'm going to celebrate this spring break! |
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Date: March 8th, 2006 9:31 PM Author: Irradiated Main People Say hi to Jeff Skilling for me. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285617) |
Date: March 8th, 2006 5:25 PM Author: aquamarine box office twinkling uncleanness $135k in Texas = $309,748.62 in Manhattan!
WOW!
Source: http://www.bankrate.com/brm/movecalc.asp |
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Date: March 8th, 2006 5:30 PM Author: swashbuckling peach psychic Just think how many Broadway shows you can afford to go to on $300K/year! Oh, wait... (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283436) |
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Date: March 8th, 2006 5:32 PM Author: blue indecent deer antler jewess nice (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283466) |
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Date: March 8th, 2006 5:37 PM Author: aquamarine box office twinkling uncleanness You enjoy broadway while I enjoy my sweet-ass boat. hth. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283535) |
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Date: March 8th, 2006 5:44 PM Author: swashbuckling peach psychic You should invite me out on your boat some time. Then we can go out for some awesome Thai food...oh, wait. Well, maybe a trip to a nice art mus...ah, fuck it! (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283611) |
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Date: March 8th, 2006 5:48 PM Author: aquamarine box office twinkling uncleanness Houston is well-known for its restaurants (i.e. one of the fattest cities in America), we also have a decent Museum district (how often do you go to Museums anyway?), we have a theatre district (with 4-8 different shows running on the weekends(Th-Sun).
you can keep your foul smells, high-stressed lifestyle, small apartments, bedbugs, loads of rats, terrorism, etc, etc, etc. i'll live like a king in Texas.
FWIW, I currenly live in NYC, so I know all about the city. You ever live in Houston for an extended period of time? It's probably better that you remained closed-minded if not, you might try Texas out and I'd have to compete with you. Don't get me wrong, I'm sure I can hold my own, but it's easier to compete against the Tech students of the world. |
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Date: March 8th, 2006 5:51 PM Author: swashbuckling peach psychic I'm not really an NYC troll--far from it--but it's ridiculous to pretend that there are as many worthwhile things to spend your money on in Houston as there are in an actual metropolitan city. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283689) |
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Date: March 8th, 2006 5:54 PM Author: aquamarine box office twinkling uncleanness if i want to visit an "actual metropolitan city" i could always book a $200 round-trip flight.
with all the money leftover, i can save for my future, kids' futures, give friends and family more lavish gifts, etc.
this all boils down to a matter of tastes and preferences (obviously). given that i've tried both, i stand by what i've said. |
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Date: March 8th, 2006 5:57 PM Author: swashbuckling peach psychic Fair enough. For people willing to live in Texas, this is quite a windfall. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283754) |
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Date: March 8th, 2006 5:57 PM Author: aquamarine box office twinkling uncleanness i always knew you were a reasonable person. if i ever have the pleasure of hosting you in my mansion, i'll make sure to grill you a steak! (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283766) |
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Date: March 8th, 2006 8:38 PM Author: mint antidepressant drug rigpig you are a moron. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285181) |
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Date: March 13th, 2006 8:08 PM Author: comical nudist principal's office Gaaaaaaaaaaaaaaaaaaaaaaay (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5329405) |
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Date: March 8th, 2006 5:30 PM Author: Cerise Space So, what you are saying is V&E > Wachtell? (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283450) |
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Date: March 8th, 2006 5:36 PM Author: aquamarine box office twinkling uncleanness it's just cost of living comparison.
135k in NY = middle class 135k in TX = Living like KINGS! |
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Date: March 8th, 2006 5:40 PM Author: Cerise Space I was joking. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283580) |
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Date: March 8th, 2006 5:43 PM Author: aquamarine box office twinkling uncleanness i know but in a lot of respects VE > WLRK. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283607) |
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Date: March 8th, 2006 9:35 PM Author: Irradiated Main People Apparently Minneapolis and Saint Paul don't qualify as major cities... So much for doing my own calculations. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285656) |
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Date: March 8th, 2006 5:55 PM Author: Soggy meetinghouse Other small firms are following suit. The dominoes are falling.
http://www.infirmation.com/bboard/clubs-fetch-msg.tcl?topic=Greedy%20Texas&msg_id=002y1n |
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Date: March 8th, 2006 5:56 PM Author: aquamarine box office twinkling uncleanness it's like we were separated at birth. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283745) |
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Date: March 8th, 2006 5:55 PM Author: aquamarine box office twinkling uncleanness GA says Andrews & Kurth is getting raising salaries as well!
2 firms in one day...the trickling down effect begins. |
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Date: March 8th, 2006 5:56 PM Author: Soggy meetinghouse Beat ya!!! :) (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283747) |
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Date: March 8th, 2006 5:57 PM Author: aquamarine box office twinkling uncleanness yeah. good job.
we're going to be rich! |
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Date: March 8th, 2006 5:59 PM Author: Soggy meetinghouse Yes. 135K in TX is a ridiculous amount of money. Especially for a 26 year old. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283775) |
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Date: March 8th, 2006 6:00 PM Author: aquamarine box office twinkling uncleanness i'm going to make about 3 times what my father makes now! and he owns 3 properties! i better learn how to manage money... (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283786) |
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Date: March 8th, 2006 5:57 PM Author: swashbuckling peach psychic What kind of hours do VE associates bill? Will that # go up now? (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283763) |
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Date: March 8th, 2006 5:58 PM Author: aquamarine box office twinkling uncleanness this is the unfortunate consequence of the raises. i'm sure hours will go up. as long as they remain below NY, there's nothing we can complain about. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283773) |
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Date: March 8th, 2006 6:00 PM Author: Soggy meetinghouse Bonuses stayed the same at 1950, 2150, & 2300 if thats any indication.
Edit: Actually the bonuses were cut in half but the hour thresholds stayed the same. Still with bonuses cut in half it is a significant raise. |
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Date: March 8th, 2006 6:00 PM Author: avocado motley tank set And will leverage ratios begin to change?
Summary of your questions and my questions...Is V&E and BigTex law trying to emulate BigLaw in NYC/DC/LA? Do they want to be a primary market ?(Houston is already the 4th largest city in the US I think). |
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Date: March 8th, 2006 6:00 PM Author: aquamarine box office twinkling uncleanness BB did add the non-equity partner title recently... (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283790) |
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Date: March 8th, 2006 6:01 PM Author: avocado motley tank set V&E already has it I believe. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283795) |
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Date: March 8th, 2006 6:03 PM Author: Soggy meetinghouse I've heard no such thing. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283817) |
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Date: March 8th, 2006 6:05 PM Author: avocado motley tank set Perhaps I'm wrong. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283830) |
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Date: March 8th, 2006 6:09 PM Author: avocado motley tank set Nope...I'm right.
http://almresearch.alacra.com/lmi/samples/TX%20100%20Sample.xls |
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Date: March 8th, 2006 6:01 PM Author: Soggy meetinghouse Well, VE Houston is below 1:1 at the moment, so more leverage wouldn't even be clost to NYC/DC/LA level. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283797) |
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Date: March 8th, 2006 6:03 PM Author: avocado motley tank set What is the "7 year plan" though? I mean they are raising pay to the market pay in DC and LA. Money just doesn't fall from the sky like this without consequences. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283816) |
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Date: March 8th, 2006 6:04 PM Author: Soggy meetinghouse 7 year plan? If you're talking about 2-8 yr. associates, I believe it was across the board rasise of 25K/year. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283825) |
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Date: March 8th, 2006 6:08 PM Author: avocado motley tank set Does this raise signal a change in direction with regard to the way in which the firm will be managed? Are V&E's long term goals going to change? (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283858) |
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Date: March 8th, 2006 6:11 PM Author: Soggy meetinghouse I'm a 1L. I have no idea. I'll be sure to ask this fall though. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283878) |
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Date: March 8th, 2006 6:23 PM Author: avocado motley tank set If you ask that, you'll be well on your way to getting a callback (assuming you are above their cutoff). (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283951) |
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Date: March 8th, 2006 6:25 PM Author: Soggy meetinghouse I'm well above their cutoff according to career services. I'm not sure what you're implying here though. Are you saying its not wise to ask about the firm's future plans? Perhaps it may be best reserved for the callback. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283969) |
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Date: March 8th, 2006 7:35 PM Author: Cerise Space Actually, I think this is a good question. It shows interest in the firm. Not sure if Hooever agrees, but you should definitely ask this in a tactful way. I plan to ask this summer. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5284504) |
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Date: March 8th, 2006 7:35 PM Author: Soggy meetinghouse You're into tax right? (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5284509) |
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Date: March 8th, 2006 7:46 PM Author: Cerise Space I think so, why? (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5284615) |
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Date: March 8th, 2006 8:36 PM Author: Soggy meetinghouse Do you plan on doing planning or lit? (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285170) |
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Date: March 8th, 2006 8:54 PM Author: Cerise Space I want to do transactional, so if I do tax, it will be planning. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285302) |
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Date: March 8th, 2006 9:00 PM Author: Soggy meetinghouse Is tax planning more or less subject to the inconsistencies of trans. work? (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285371) |
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Date: March 8th, 2006 9:20 PM Author: Cerise Space I don't understand your question. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285508) |
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Date: March 8th, 2006 9:23 PM Author: Soggy meetinghouse Does work fluctuate with the market? The biggest complaint I hear about transaction work is sitting around waiting for a deal. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285544) |
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Date: March 8th, 2006 9:31 PM Author: Cerise Space Yeah, I don't know. Most people tell me that tax lawyers have the most consistent schedules (10-11 hours a day every day), but I'm not sure how that plays out when you are subject to a transactional practice. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285619) |
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Date: March 8th, 2006 8:40 PM Author: Soggy meetinghouse According to a GA post: "Average associate billed 2,000 hours in 2005. Some billed more, some less." (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285197) |
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Date: March 8th, 2006 6:03 PM Author: Harsh glittery old irish cottage Livin' in a Lawyaz' Paradise (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5283818) |
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Date: March 8th, 2006 8:37 PM Author: Soggy meetinghouse Date: March 8, 2006 To: All Texas Associates From: Joseph C. Dilg Re: New Associate Compensation Levels
One of our FirmÂ’s core values is to attract the finest attorneys and to retain and develop these attorneys to be outstanding practitioners in their fields. There are many attributes of the Firm that contribute to our ability to accomplish this goal, and we recognize that compensation is an extremely important factor. As communicated in my voicemail this morning, we are pleased to announce that, effective March 1, we have increased associate compensation. Our new Texas compensation levels are set forth below. These new levels represent an increase in both base salary and potential total compensation at all levels. The productivity-based bonus amounts reflect the total bonus payable. Once again, thank you for all that you do for our clients and for Vinson & Elkins.
Class Year Base Salary Productivity Based Bonus** Total Potential 1950 hrs 2150 hrs 23000 Compensation 2005 1 $140,000* N/A N/A N/A $140,000 2004 2 145,000 $5,000 $10,000 N/A 155,000 2003 3 150,000 5,000 10,000 $20,000 170,000 2002 4 160,000 7,500 15,000 25,000 185,000 2001 5 170,000 10,000 20,000 35,000 205,000 2000 6 180,000 10,000 20,000 35,000 215,000 1999 7 185,000 12,500 25,000 40,000 225,000 1998 8 190,000 12,500 25,000 45,000 235,000
* Includes a guaranteed year-end bonus of $5,000
** Includes up to 150 pro bono hours |
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Date: March 8th, 2006 9:05 PM Author: Godawful lay What about their DC and NY offices? (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285406) |
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Date: March 8th, 2006 9:08 PM Author: Soggy meetinghouse Considering BigTex NY/DC offices were previously at market, I couldn't imagine them not raising pay to match that now. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285429) |
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Date: March 8th, 2006 9:10 PM Author: Godawful lay Will SA pay follow suit? (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285451) |
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Date: March 8th, 2006 9:14 PM Author: Soggy meetinghouse No idea. Perhaps not for 06 summers, but certainly for 07. They really have no incentive to change 06 summer rates. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285472) |
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Date: March 8th, 2006 9:35 PM Author: Cerise Space Other than looking cheap. If other firms raise and pay you more during the summer, which would you like better? I would think, huh, one firm treats me only as well as they have to while the other treats me really well (in reality, they are both reacting to market pressures), but that's what I would think. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285660) |
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Date: March 8th, 2006 9:30 PM Author: aggressive dopamine :( (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285604) |
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Date: March 8th, 2006 9:32 PM Author: bateful elastic band regret why the sad face? (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285632) |
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Date: March 8th, 2006 9:33 PM Author: aggressive dopamine I don't like it when every lawyer in the country makes more money than me. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285639) |
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Date: March 8th, 2006 9:36 PM Author: Cerise Space Flip through the letter "A" in the phone book. Feel better about yourself. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285675) |
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Date: March 8th, 2006 9:38 PM Author: aggressive dopamine Aaron Abbott probably doesn't work 60 hour weeks. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285690) |
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Date: March 8th, 2006 9:46 PM Author: swashbuckling peach psychic Abner A. Abbabab is a notorious workoholic. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285770) |
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Date: March 8th, 2006 9:46 PM Author: aggressive dopamine Aaaaaabcs Aaaaaaaks works at V&E and is better paid than I am. (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5285779) |
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Date: March 9th, 2006 12:21 AM Author: aquamarine box office twinkling uncleanness We're gonna be rich! (http://www.autoadmit.com/thread.php?thread_id=375366&forum_id=2#5287315) |