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[quote=Anonymous][quote=Anonymous]It's a good thing for associates BUT I worry about the long term. When firms when from 125k to 135k to 160k, that was the first time that when we hit a bump in the road (2008-2009), it became pretty standard to weed out half the class in their 4th yr. It happened at my NYC firm and those of my friends, all Vault 1-50 firms. And it continues to this day under the guise of "performance." So now what -- the weed out will begin in the 3rd yr or 2nd yr to save some of the salary cost? If you're making this money, save HARD bc it doesn't look like the industry has learned anything from the past 8 yrs. Only in law can you have declining work (which it is in certain large areas including lit and IP right now) rewarded by huge raises.[/quote]

+1. Partners are my firm (also NYC) looked for ANY reason to get rid of associates to be able to hold down costs (bc they had hired 50 people with the intent to pay them 125k and then were suddenly having to pay 50 people @160k and they were NOT going to eat that cost). I fear the same thing will happen now -- the junior/mid level classes are already in place at 160k (and higher depending on what yr you are) and it's going to create a significant pay roll cost to pay everyone who is on board more -- which means by Dec. reviews, they'll again be looking to trim to bring the costs down to where they expected them to be originally. It's become a sad profession -- and I am someone who LOVED my time in biglaw.[/quote]

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