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Author Topic: Tom Cruise's "The Firm"  (Read 2999 times)

jas9999

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Re: Tom Cruise's "The Firm"
« Reply #10 on: April 07, 2004, 04:54:04 PM »
Usually each entering associate gets the exact same amount.  In the big cities, a lot of the firms offer the exact same amount as each other too.

funny, i thought they called that collusion...

toiysam

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Re: Tom Cruise's "The Firm"
« Reply #11 on: April 08, 2004, 08:51:18 AM »
But know what, when chosing among top firms, then one should not care that much about the initial salary, but about partnership track. So, people would chose firms that have a higher associate/partner ratio, and a firm whose partners make more money. Usually top graduates can chose among Wachtell and Cravath.

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lawstudent2004

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Re: Tom Cruise's "The Firm"
« Reply #12 on: April 08, 2004, 09:10:02 PM »
funny, i thought they called that collusion...

I think you have collusion confused with keeping with the competition.

thechoson

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Re: Tom Cruise's "The Firm"
« Reply #13 on: April 08, 2004, 09:18:07 PM »
Usually each entering associate gets the exact same amount.  In the big cities, a lot of the firms offer the exact same amount as each other too.

funny, i thought they called that collusion...

Wouldn't it be more supply and demand?  I suck at econ, but kinda like how if there are a shitload of grocery stores all around me, wherever I go, I usually pay about the same for bananas?

jas9999

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Re: Tom Cruise's "The Firm"
« Reply #14 on: April 09, 2004, 11:55:23 AM »
i have three grocery stores within a five minute walk of my apartment. we frequent two of them, buying certain things at one, and certain things at another. the prices definitely vary, though it's not an analogous situation because supermarkets have very low margins on most of their sales. in fact, usually when a store runs a sale on an item, the sale price will be a net loss for them. but they do it to get people into the store to buy other items that have positive margins for them.

similarly, if it were simply supply and demand, the best firms would pay more. they're more in demand, and as a way to get the best associates, would offer more than similar firms that aren't as highly regarded. but if all the firms are paying the same, it's not a true market, is it? it certainly smacks of collusion to keep wages down industry-wide. otherwise, you'd certainly have a few firms paying above 'market' to attract the best talent, which would cause the rest to want to keep up, and the wages would skyrocket, as they did a few years ago...