Quote:
Originally Posted by Riverman
If I were a biglaw partner, I'd be in the "I'll take a $100k (5-15%) pay cut so we don't have to fire people" camp. Then again, I don't have alimony payments and a house in the Hamptons.
If you were a big law partner, you would have spent 10 years billing 2400 hours. You are now part of a "partnership" that runs "business", not a "charity."
Would you really be happy to cut 100k out of your own pocket and then walk around your office and see associates playing minesweeper all day for $200,000?
Most large firms are giving associates 3 months w/ health, etc for severance. That is like $75,000 or something on average. Obviously it sucks and I assume staff get a fraction of this, but its not exactly getting tossed out Jazzy Jeff style.
If I were a partner, I wouldn't keep people around just for the hell of it, but I def. would be more open to solutions that didn't inolve big cuts (I'd prefer across the board pay cuts w/ more variable bonuses for high billers/achievers). I would bust my ass to help my associates that were laid off find other positions, but I wouldn't feel guilty that they're getting laid off and I still have a Hamptons house. They'd do the same in my position.
Re: URM
I know that my firm had some sick good diversity thing and some people that came for the summer got like an extra 25k. Also, 1L big firm hiring is almost exclusively URM if you're not at a top school (not sure firms even bother with 1Ls now). go to lawschoolnumbers.com and do a couple searches using the same numbers but do it once with only URM and once w/o URM. You'll be pleased with the results.