Law School Discussion

Nine Years of Discussion
;

Author Topic: How important is the name really?  (Read 27253 times)

WhiteyEMSR

  • Full Member
  • ***
  • Posts: 64
    • View Profile
Re: How important is the name really?
« Reply #30 on: November 13, 2006, 05:50:10 PM »
LegalLatin, have starting salaries at JD changed? According to their website, the most they pay (before bonuses) is 145,000 and that is in NY. Chicago (where I will be) and San Francisco (where I think you said you are) are said to start out at 135,000. For my summer, I know I get the equivalent to an associate's salary; last year they said this was 135000, but they have not yet told us what the summer associates this summer will be paid. If things have changed, then yipeee!

Also, I've heard mixed things about the bonus structure at Jones Day. Is it true that bonuses are rare and inconsistent? I know they like to keep compensation type issues hush hush, but what's the deal? What are the annual salary increases like? Do they make up for the lack of bonuses?

Thanks

WhiteyEMSR

  • Full Member
  • ***
  • Posts: 64
    • View Profile
Re: How important is the name really?
« Reply #31 on: November 13, 2006, 05:56:07 PM »
LegalLatin, what year/where are you in law school? Did you get your Jones Day job through OCI? Were you paid as a summer associate? I ask because a buddy of mine (just accepted a JD offer after her summer) says that no JD office starts at 155,000 before bonuses. For that matter, I interviewed with a lot of big firms (2nd in my class interviewing at Notre Dame), and none of them paid more than 145000 before bonuses. Also, 138,000? What firm starts at 138,000? Are you sure you're getting accurate information?

Were you hired in as a lateral after working for a while or something? Are you an associate? Anything you could tell me about the firm would be of great help (not sure how much things vary from office to office).
Starting salary info on Jones Day:
http://www.nalpdirectory.com/dledir_search_advanced.asp
http://www.jonesday.com/careers/usa/students/summer/compensation/



Budlaw

  • Sr. Citizen
  • ****
  • Posts: 530
    • View Profile
Re: How important is the name really?
« Reply #32 on: November 13, 2006, 07:10:13 PM »
I currently work @ Jones Day, which is the definition of big corporate law.  We handle M & A, Toxic Tort, Securities, you name it.  The firm is very big, and we hire tons of attorneys each year.  This year, all of our associates were hired from; Georgetown, UCLA, USC, NYU, Chicago.  Get the picture? 

I go to school with a guy who got a summer associateship for next summer at Jones Day and I go to FSU. It's possible. You just won't be working at Jones Day in New York out of school. You do well in your class and you can get a great job. It's just easier to get a great job out of a great law school. You don't have to hustle as much. 

WhiteyEMSR

  • Full Member
  • ***
  • Posts: 64
    • View Profile
Re: How important is the name really?
« Reply #33 on: November 13, 2006, 07:23:30 PM »
Wow, I'm really obsessed with this topic. Anyway, I didn't realize that nalp let's you search by salary. http://www.nalpdirectory.com/dledir_search_advanced.asp

To clarify so that nobody is getting inaccurate information, according to nalp, an organization that all BigLaw firms subscribe to, there are 5 firms that pay over 145,000 starting out before bonuses. These firms all pay 150,000 and one pays 155 (but it's a firm based out of London, Herbert Smith) so I'm not counting that.

So, my point is this, responding to the poster that says a top 14 school guarantees a job paying 170-190, all I can say is "nope," at least not without some extravagant bonus plan that I have not been made privy to.

sehrwunderbar

  • Full Member
  • ***
  • Posts: 31
    • View Profile
Re: How important is the name really?
« Reply #34 on: November 13, 2006, 08:06:08 PM »
Don't worry, work hard and get good grades and make sure that you get good summer experience. That's all that matters really. And remember, after you're out for a couple years than nobody cares anymore, just like undergrad. you'll have proved yourself and that is what people will go off of in offering you jobs.

amityjo

  • Full Member
  • ***
  • Posts: 36
    • View Profile
Re: How important is the name really?
« Reply #35 on: November 13, 2006, 10:26:11 PM »
FWIW -

Hofstra 2L here, not top 10%, but on LR. I managed to secure a BigLaw summer associate position for 2007 in NYC (4 offers, actually). Didn't have to pull any strings to get it either. I am sure it's because I interview well, and I have a magnificent resume. I suppose the 10 years of work experience didn't hurt.

Kick butt with your grades, make your resume interesting and powerful, get on Law Review, and above all, be more than some legal drone (i.e. have a personality - people hire people they like.) It's doable, but if you can't be top 10%, you have to differentiate yourself another way.

RenaldoBalkman

  • Full Member
  • ***
  • Posts: 46
    • View Profile
Re: How important is the name really?
« Reply #36 on: November 13, 2006, 11:13:18 PM »
FWIW -

Hofstra 2L here, not top 10%, but on LR. I managed to secure a BigLaw summer associate position for 2007 in NYC (4 offers, actually). Didn't have to pull any strings to get it either. I am sure it's because I interview well, and I have a magnificent resume. I suppose the 10 years of work experience didn't hurt.

Kick butt with your grades, make your resume interesting and powerful, get on Law Review, and above all, be more than some legal drone (i.e. have a personality - people hire people they like.) It's doable, but if you can't be top 10%, you have to differentiate yourself another way.


What was your class rank?  How many of your classmates are going to biglaw and what was their class rank? 

Since you were on law review I'd assume that your experience is atypical compared to the typical Hofstra student.

Krisace

  • Full Member
  • ***
  • Posts: 97
    • View Profile
Re: How important is the name really?
« Reply #37 on: November 14, 2006, 01:18:28 AM »
Here's how the numbers break down:

West Coast = $135K salary + 10K bar stipend + roughly 5K bar expenses, then, assuming you're billing 2100 hours as is typical for many large firms and almost a given if doing corporate work,then  you're looking at 20K in bonuses = $170K. 

If your at a New York firm on the west coast or at a BigLaw job in NY or DC you're looking at $145K salary + 5K bar fees + 20-40K in bonuses (definitely not a stretch on this one at all...you're just billing an extra few hundred hours per year). 

Run these numbers by anyone whose been through the process and they'll tell you.  Second year assocate salaries are roughly equal to first year total package compensation as you obviously don't get the 15K in stipend and/or bar fees but you do get a 10K raise.

As for Jones Day, I highly doubt they start people at $155K.  But it is possible because they do not generally give bonuses. However, they did give a nominal one last year for the first time in recent memory.

Krisace

  • Full Member
  • ***
  • Posts: 97
    • View Profile
Re: How important is the name really?
« Reply #38 on: November 14, 2006, 10:03:10 AM »
Unfortunately I don't know much about the Chicago market except for which firms are the most sought after there.  I'm a 3L and narrowed my search last year and this year (as I went looking for a better situation than the firm I was at last summer) to the West Coast. 

Are there any firms that your curious about specifically?  Also, you probably know of these sites, but if not, then try checking out www.nalpdirectory.com or the greedy associates link at www.infirmation.com (middle left side of the page for the link).

Jones Day, at the very least, is probably one of the most distinctive firms to work for.  It seems to be run a lot like a corporation basically with all decisison made at the top, good salary but minimal if any bonuses and a prohibition on anyone speaking about what they make to each other.  I have heaard that it's not a bad place to work though...

TDJD84

  • Sr. Citizen
  • ****
  • Posts: 207
    • View Profile
Re: How important is the name really?
« Reply #39 on: November 14, 2006, 10:28:38 AM »
The Chicago market starts off at $135K salary + 10K bar stipend + another 5K for bar expenses.  Add another $10-25k in bonuses depending on how many billable hours over the required you go over.  The average minimum billable hour requirement at most firms in this city is 2000