Category: News Feeds

Last Thursday, a New York grand jury indicted the Trump Organization and its CFO Allen Weisselberg, mostly for tax crimes. The indictment accused the defendants of structuring a tax evasion scheme where Weisselberg avoided reporting taxable income by taking noncash benefits through the Trump Organization. This included the use of a Manhattan apartment and a luxury car. And Weisselberg’s family members received payments for tuition expenses which could have been constructive income attributable to Weisselberg. And these actions resulted in the filing of false tax documents and tax returns. This case is expected to produce information that can be used to indict former President Donald Trump.

But the transactions could have been tax free in one form or another. And even if the transactions resulted in income to Weisselberg, do they warrant jail time?

There is an argument that the benefits Weisselberg received were nontaxable fringe benefits from the Trump Organization. Not all fringe benefits are tax free, and the tax laws and regulations are fairly specific as to which benefits qualify for tax free treatment.

I am not at liberty to opine on whether the benefits described on the indictments are taxable noncash income or nontaxable fringe benefits. But there are provisions in the law where the use of automobiles in addition to providing lodging and educational assistance can be nontaxable fringe benefits.

It is very possible that the benefits provided to Weisselberg and his family are not fringe benefits and should be subject to tax. But if the defendants can prove that they tried in good faith to comply with the law instead of plotting a scheme to evade taxes, it may be enough to show that there was no criminal intent.

The indictment also claims that Weisselberg did not pay New York City income taxes despite living in an apartment in Manhattan. For those who don’t live in New York City, it charges its own income tax to its residents.

Weisselberg lived in Long Island which is not subject to the New York City tax. Donald Trump even stated that it was “embarrassing” that his CFO lived in a modest house in the area.

So how can he prove his Long Island residency and avoid the tax? New York law states that a person is a full-time resident for tax purposes if they meet one of two requirements. One requirement is that they must maintain a permanent place of abode in New York for substantially all of the year and spend more than 184 days (more than half of the year) in the state. Or they must be domiciled in New York regardless of how many days they are actually in the state.

Being domiciled in a state basically means that it is a person’s intention to live there permanently, even if they spent very little time in the state during a particular year. Proving domicile can be complicated as it requires an analysis of an individual’s facts and circumstances. Generally, tax auditors look to see which state the taxpayer has the closest connections to. They look at where their driver’s license or ID card was issued, where they registered to vote, the location of their primary banks, place of employment, and locations of family and friends. These rules have been around for many years, but in this mobile era of emails, online banking, virtual meetings, and text messages with emojis, some of these rules should not be given much as weight as they used to.

Some people have said that the defendant’s actions are commonly done in business. This is true especially in small businesses where owners tend to commingle personal and business expenses without doing proper bookkeeping. Typically, the owners do what they want and let their accountant sort everything out. Criminal charges for these types of actions are not the norm. While prosecutors do not have to follow the “everyone else does it” defense, it may make jury selection difficult because “everyone else” might be more sympathetic to the defendants and more likely to acquit.

Lastly, there is the question of whether Weisselberg will turn on Trump in exchange for leniency or even immunity. Weisselberg is 73. His advanced age means that even a light sentence could be a life one. But he has likely already lived his best life. So long as his children are taken care of, he probably won’t care about jail. Will he do whatever he has to do to avoid jail time? Or will he look forward to lounging at the taxpayer-funded minimum security prison while preparing tax returns for the prison guards? So far only one person knows that answer.

For those looking for intrigue and complex tax avoidance schemes involving hiding billions of dollars alongside Vladimir Putin, you will likely be disappointed with this indictment. As the case progresses, we will see whether the transactions noted in the indictment are disguised compensation or are nontaxable transactions such as gifts. Assuming the jurors are not politically motivated, it is not a slam dunk case as the transactions may not be taxable. And even if they are, the transgressions may not warrant a criminal punishment. This is mainly because it is very difficult to pay the back taxes while you are incarcerated. But it remains to be seen whether this will produce information and documents that can be used to prosecute the former president.

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Steven Chung is a tax attorney in Los Angeles, California. He helps people with basic tax planning and resolve tax disputes. He is also sympathetic to people with large student loans. He can be reached via email at sachimalbe@excite.com. Or you can connect with him on Twitter (@stevenchung) and connect with him on LinkedIn.

Donald Trump tweeted more than 25,000 times during his stay in office. His one-day high seems to have been in June 2020, when he sent 200 tweets and retweets in a single day amidst nationwide protests over police brutality. During one hour of that day, between 8 and 9 a.m., Trump tweeted 74 times — about once every 48 seconds.

In addition to complaints about protesters, taking credit for the performance of the stock market was another perennial topic of Trump’s prolific tweeting. From his election until February 2018, Donald Trump tweeted at least 60 times to boast about the stock market. Of course, the stock market dropped precipitously many times during the Trump presidency (as it is wont to do during any presidency) and whenever that happened, Trump’s Twitter feed went uncharacteristically silent on the topic. But as soon as things picked up again in the markets, Trump always fell back on old habits. His final tweet of 2020 (before he was permanently booted off of Twitter a few days later for inciting a violent insurrection and trying to overthrow democracy) was a self-appreciatory boast about the stock market.

I have written many times about how stock market performance is a poor gauge of presidential perforce. The stock market does not accurately reflect the state of the broader economy, stock market gains disproportionately benefit the rich (half of Americans don’t own any stocks at all), a president has a very limited amount of control over what happens to the stock market, and the stock market tends to go up over time regardless of who is president. None of that seemed to matter to Trump.

Of course, there is a new sheriff in town now. Joe Biden does have a Twitter account. Unlike his predecessor, however, he doesn’t seem to dedicate his life to it. Glancing through the past few weeks, there are a few days with two or three Joe Biden tweets, some days with none at all. Near as I can tell from a quick scroll through the past six months, Biden hasn’t tweeted directly about the stock market and certainly not to brag about it. In fact, on April 5, the @JoeBiden Twitter account retweeted the official @POTUS account to say, “Here’s the deal: Wall Street didn’t build this country — the great American middle class did.”

Biden’s relative silence on the stock market is not for lack of accomplishments to tout in that department. The first 100 days of the Biden administration saw the best stock market returns of any presidential administration’s first 100 days in at least the past 75 years. As of the end of June, the S&P 500, considered a rough bellwether of the stock market as a whole, notched its 33rd record close of the year. Forbes (hardly an enclave of hard-left wokesters) recently ran a piece titled, “Biden’s Stock Market Is Crushing Trump’s.” Were he inclined to use it, Biden would have plenty of equities-related material to vaunt.

He’s not though. When Theodore Roosevelt borrowed what was purportedly an African proverb to “speak softly, and carry a big stick,” he was talking about foreign policy, but he could have just as easily been referring to Biden’s relationship with stock market returns. Biden does not need to crow about the stock market on his watch. Anyone who does attribute stock market performance to the president’s decision-making should be able to view a stock chart covering Biden’s term in office, and vote accordingly in the future.

During his closing remarks in the final pre-election debate in October, Trump told Americans that if they voted for Biden, “Your 401(k)s will go to hell.” He was wrong about that. He was wrong about a lot of things. Repeating something endlessly may be a good marketing tool, but that doesn’t make it true. Trump was marketing when he continually tried to take credit for a stock market that was beyond both his control and his comprehension. Even though I never fell under Trump’s spell myself, I sure got sick of hearing this incantation. I’d take Biden’s approach any day of the week: shut up, do your job, and let the results speak for themselves.

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Jonathan Wolf is a civil litigator and author of Your Debt-Free JD (affiliate link). He has taught legal writing, written for a wide variety of publications, and made it both his business and his pleasure to be financially and scientifically literate. Any views he expresses are probably pure gold, but are nonetheless solely his own and should not be attributed to any organization with which he is affiliated. He wouldn’t want to share the credit anyway. He can be reached at jon_wolf@hotmail.com.

Social is perhaps the last word anyone would use to describe the past year. While a work-from-home world might have done wonders for your dry cleaning bills, it eliminated most of the friendship and networking aspects of doing our jobs – which, for many, were the parts they enjoyed the most.

Fishbowl is here to fill that void. Fishbowl is the professional social network tailored to attorneys that allows you to safely connect with like-minded legal professionals and anonymously ask your peers questions about the things that are most important to you and your professional goals. It’s about having candid and honest conversations with colleagues and coworkers, even if you’re not physically in the same place. Already 40% of Biglaw attorneys from firms like Skadden, Kirkland & Ellis, Latham & Watkins, and Baker McKenzie are connecting on the app, with more small and solo firm attorneys joining the conversation every day.

Some have called it LinkedIn meets Glassdoor. Others have called it Reddit for professionals. Whatever you call it, though, it’s a different kind of social media than you’ve ever had in your professional life before. It’s also a refreshing change from other platforms that are focused on shameless self-promotion and cluttered with trolls – you can seek out the people you want to chat with and the topics you want to discuss, all while knowing you’re in a safe, professional space.

Discover Your Legal Safe Space

The Fishbowl social network is already being used by more than a million professionals across the world’s biggest companies and industries, and now it’s open to legal professionals. Signing up is free and you just need to verify your professional credentials with either your work email or through LinkedIn.

This also means that you know you’re only interacting with other verified professionals. Once you’re in, you can always choose your level of anonymity when you’re engaging with other Fishbowl users.

Fishbowl operates on channels known as bowls, and they run the gamut from specific practice areas to job networking to social issues. You can join bowls for your specific firm or company, your geographic area, your area of law, such as corporate transactional or litigation, and more.

Beyond the strictly professional groups, there are popular groups for things like Women in Law and Law Exit Opportunities. Want to know if you’re being paid the same salary as your colleagues or if you’re on par with others in terms of billable hours? Fishbowl is the safe place to ask. Want to connect with other women in the legal industry? There’s a bowl for that. Want to discuss your exit plan without anyone in your firm knowing? Fishbowl is the place for you.

The beauty of Fishbowl is that you can choose to be as anonymous as you want to be. You can post under your full name, or limit your post to your verified credentials – for example, associate in New York or attorney at Skadden. The anonymity factor is at least partly the reason Fishbowl has already seen high adoption rates across U.S. lawyers, particularly in Biglaw.

And it’s not just younger attorneys and new associates taking advantage of the platform – equity partners are taking part, too, and approximately 20% of Fishbowl’s legal users are law firm partners. When’s the last time you were able to have a completely candid conversation with a Biglaw partner about quitting your Biglaw job? Probably not any time in recent memory.

That makes Fishbowl a huge, untapped resource – this is your chance to get candid advice from colleagues and even partners at your own firm, anonymously if you so choose. And with the ability to join as many different bowls as you want, the possibilities are endless.

A Social Network Where You Can Get Actual Valuable Advice

The LinkedIn and Glassdoor comparisons are appropriate, but they don’t paint the entire picture of Fishbowl. LinkedIn provides professional connections and a platform for self-promotion, but there’s no real opportunity to have comfortable, candid conversations. And while Glassdoor incorporates the candid aspect, it’s essentially a static review site with no social element.

Fishbowl is the best of both worlds. Identity verification, coupled with the option to post with differing levels of anonymity, allows for truly robust and productive conversations. While there’s a designated channel where employers can post job openings, one of the more popular features is the exit opportunities bowl, where lawyers can network directly with other lawyers about job openings and general career change questions.

This is an invaluable opportunity to engage directly with others in the legal community who you know have been verified and are actually your peers. It’s also a safe place to ask questions that you might not feel comfortable asking on other platforms where your identity would tip your hat to your current employer about your potential career change plans.

Bringing the Social Element Back to Legal Work

Lawyers work hard (often too hard), but work isn’t only about practicing law. For many lawyers, the other people and the social interactions have been what keeps them going every day. Much of that social aspect, however, fell casualty to the pandemic. After a year of WFH, you’re not alone if you’re missing the personal interaction aspect of your job.

Zoom, Teams, and other video conferencing tools have probably taken over your life in the last year. While Zoom has replaced the conference room, Fishbowl is replacing the hallway outside the conference room – the place where you congregated and had friendly conversations that weren’t directly related to your day-to-day work.

Fishbowl lets you focus on the social side of your professional life again, whether that’s seeking job referrals, discussing general entrepreneurship, or even just sharing funny memes to break up your day. No matter what you’re discussing, you know you’re doing it with others who are going through the same thing. You can post in conversations in various bowls or send direct messages to others.

There are opportunities to interact on Fishbowl for every comfort level. From venting and sharing work stories to seeking valuable career advice, Fishbowl is truly one of the few safe places within the legal industry. You get to really connect with others in the field at a time when connection is particularly hard to come by.

In addition to bowls that are more general to the legal community as a whole, Fishbowl has bowls dedicated to specific companies or firms. For example, if you’re an associate at Jones Day, advice from others in the industry might be helpful, but maybe what you really want is advice from other associates and partners at Jones Day. Fishbowl is where you can get that, and you can do so anonymously. You know you’re getting insights from your coworkers who have been verified, but you don’t need to tip your hand by showing your identity. That’s invaluable advice that you won’t get anywhere else.

There are plenty of cross-industry bowls that are useful as well. Some popular ones include discussions on personal investment strategies, MBA applications, depression and anxiety, and even how to stay healthy while working from home.

There are so many things that go into a successful legal career beyond direct client work. Fishbowl is bringing back the ones we lost during the pandemic. Even as we start to return to the office, it will be a long time until the social aspect fully returns, and even then you’ll likely never feel comfortable being this candid within the four walls of your job.

Try it today and you just might find the connection you’ve been missing. There’s a bowl for everyone out there, and there’s no time like the present to find it.

Firm Date Matched Special Bonuses Milbank
Class of 2020/2021: $200K $205K
Class of 2013: $355K $365K FIRST MOVER
June 10, 2021
June 29, 2021 (re-raise) Yes
Class of 2020: $12K
Class of 2013: $64K McDermott Will & Emery
Class of 2020: $200K $205K
Class of 2013: $355K $365K June 10, 2021
June 11, 2021 (re-raise) Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Cadwalader
Class of 2020/2021: $200K
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $355K $365K June 10, 2021
June 16, 2021 (re-raise) Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Mintz
Class of 2020/2021: $200K
Class of 2013: $355K June 10, 2021 No Arent Fox
1st Years: $190K
2nd-8th Years: Individualized (but likely in the +$15K range) June 10, 2021 No (but the firm is adjusting its productivity bonuses, will range from $15K to $75K for 1950 hours) Fenwick
Tier 1/Level 1: $200K $205K
Tier 3: $355K $350K-$375K June 10, 2021
June 22, 2021 (re-raise) Yes (hours-based)
Tier 1/Level 1: $12K
Tier 3: $64K Davis Polk
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013+: $365K NEW MARKET LEADER
June 11, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Winston & Strawn
Class of 2021: $205K
Class of 2020: $200K $205K
Class of 2013+: $355K $365K June 11, 2021
June 23, 2021 (re-raise) Yes (hours-based)
Class of 2020: $12K
Class of 2013+: $64K Baker McKenzie
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $365K June 11, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2013+: $64K Dechert
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013+: $365K June 11, 2021 Yes (hours-based)
Class of 2020: $12K minimum
Class of 2014+: $12K minimum, “enhanced” up to $64K Lowenstein
Class of 2020: $205K
Class of 2013: “corresponding [salary] adjustment” June 11, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2013: $64K Proskauer Rose
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $365K June 11, 2021 Yes
Class of 2020: $12K
Class of 2013: $64K Cleary Gottlieb
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013+: $365K June 11, 2021 Yes
Class of 2020: $12K
Class of 2013: $64K Gunderson Dettmer
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2012: $375K June 11, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2013+: $64K Polsinelli
Class of 2022: $170K to $200K, depending on market
Class of 2013: Presumptive corresponding salary adjustments June 11, 2021 No Vinson & Elkins
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $365K June 14, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Pillsbury
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2014: $350K
Counsel: $365K June 14, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014/Counsel: $64K: $64K Brewer, Attorneys & Counselors
Class of 2020: $205K
Class of 2013: Presumptive corresponding salary adjustments June 14, 2021 No Boies Schiller
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013+: $365K June 14, 2021 Yes
Class of 2020: $12K
Class of 2014+ $64K O’Melveny & Myers
Class of 2020: $205K
Class of 2013+: $365K June 15, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Skadden
Class of 2020: $205K
Class of 2013+: $365K June 15, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Hueston Hennigan
Class of 2020: $205K
Class of 2013+: $365K June 15, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Mayer Brown
Class of 2020: $205K
Class of 2013+: $365K June 15, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Ropes & Gray
Class of 2020: $205K
Class of 2013+: $365K June 16, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Freshfields
Class of 2020: $205K
Class of 2013+: $365K June 16, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Akin Gump
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $365K June 16, 2021 Yes (potentially hours-based for second payment)
Class of 2020: $12K
Class of 2014+: $64K Norton Rose Fulbright
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $365K
(only applies in California, New York, Texas, and D.C. offices; presumed raises on “regional scale” in other offices) June 16, 2021 Yes (hours-based; only in California, New York, Texas, and D.C.; payouts on “regional scale” in other offices)
Class of 2020: $12K
Class of 2014+: $64K Seyfarth
A; P1: $170K (Charlotte, Houston, Sacramento, Seattle) / $190K (New York, Atlanta, Boston, Chicago, San Francisco, Washington, Los Angeles)
SA; P3: $265K / $320K June 16, 2021 No Selendy & Gay
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2014: $350K June 16, 2021 Yes
Class of 2020: $13.8K
Class of 2014+: $73.6K Seward & Kissel
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013+: $365K June 16, 2021 No Wilson Sonsini
Class of 2021: $205K
Class of 2020: $205K
Class of 2013: $365K June 16, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2012+: $64K Schulte Roth & Zabel
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2012: $375K June 16, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2012: $64K DLA Piper
Class of 2020: $205K
Class of 2012+: $375K June 16, 2021 Yes
Class of 2020: $12K
Class of 2012: $64K Wilkinson Stekloff
Class of 2020: $205K
Class of 2013+: $365K June 16, 2021 No Cravath
Class of 2020: $205K
Class of 2014: $350K June 16, 2021 Yes
Class of 2020: $12K
Class of 2014: $64K Paul Weiss
Class of 2020: $205K
Class of 2013+: $365K June 16, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Sheppard Mullin
Entry Level: $202.5K
Counsel 2: $365K June 17, 2021 Yes (hours-based)
A1: $12K
C2: $64K Willkie Farr
Class of 2020/2021: $205K
Class of 2013+: $365K June 17, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Fried Frank
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2012: $375K June 17, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Munger Tolles
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013+: $365K June 17, 2021 No Morgan Lewis
Class of 2020: $205K
Class of 2013: $365K June 17, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Goodwin
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013+: $365K June 17, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K WilmerHale
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013+: $365K June 17, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Paul Hastings
Class of 2020: $205K
Class of 2013+: $365K June 17, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Allen & Overy
Class of 2020: $205K
Class of 2013: $365K June 17, 2021 Yes
Class of 2020: $12K
Class of 2013: $64K Fish & Richardson
A1: $205K
A7: $350K June 17, 2021 Yes (hours-based)
A1: $12K
A7: $64K Debevoise
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2012+: $375K June 17, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Cohen Ziffer
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013+: $365K June 17, 2021 No (firm founded less than 6 months ago) Simpson Thacher
Class of 2020: $205K
Class of 2013: $365K June 17, 2021 Yes
Class of 2020: $12K
Class of 2013: $64K Kirkland & Ellis
Class of 2020: $205K
Class of 2015: $330K June 17, 2021 Yes
Class of 2020: $12K
Class of 2015+: $59.2K White & Case
Class of 2020: $205K
Class of 2013: $365K June 17, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2013+: $64K Quinn Emanuel
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $365K June 17, 2021 Yes (hours-based)
Class of 2020: $12K/$15K
Class of 2014: $64K/$80K Hogan Lovells
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013+: $365K June 17, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Cooley
Class of 2021: $205K
Class of 2020: $205K
Class of 2012: $375K June 17, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Gibson Dunn
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $365K June 17, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Katten Muchin
Class of 2020: $205K
Class of 2014+: $350K June 17, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Kramer Levin
Class of 2020: $205K
Class of 2012: $375K June 17, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Hunton Andrews Kurth
Class of 2020: $205K
Class of 2013: $365K
(based on performance evaluations) June 17, 2021 Yes (hours-based)

Class of 2020: $12K
Class of 2014+: $64K

MoFo
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013+: $365K June 17, 2021 Yes (hours-based) Baker Botts
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013+: $365K June 18, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K McKool Smith
Class of 2020: $205K
Class of 2014: $350K June 18, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Irell
Class of 2021: $205K
Class of 2020: $205K
Class of 2013: $365K June 18, 2021 Yes
Class of 2020: $26.5K
Class of 2014+: $73K Keker Van Nest
Class of 2020: $205K
Class of 2013+: $365K June 18, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Reid Collins & Tsai
1st-3rd Year: $225K
3rd-5th Year: $275K
5th-7th Year: $325K
6th Year+ (nonequity partners): $400K June 18, 2021 No (but firm has paid out ~$80K per associate in bonuses in 2021 thus far) Kellogg Hansen
1st Year: $245K
6th Year+: $370K June 21, 2021 No Sidley
Class of 2021: $205K
Class of 2020: $205K
Class of 2013: $365K June 21, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Sullivan & Cromwell
Class of 2020: $205K
Class of 2013+: $365K June 21, 2021 Yes
Class of 2020: $12K
Class of 2014: $64K Latham
Class of 2020: $205K
Class of 2012+: $375K June 21, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Desmarais
Class of 2020: $210K
Class of 2013: $370K June 21, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Weil Gotshal
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2014: $350K June 21, 2021 Yes
Class of 2020: $12K
Class of 2014+/3-Year Counsel: $64K Cahill
Class of 2021: $205K
Class of 2020: $205K
Class of 2013+: $365K June 21, 2021 Yes
Class of 2020: $12K
Class of 2014: $64K Covington
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $365K June 21, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Choate Hall
Class of 2020: $205K
Class of 2012: $375K June 21, 2021 No Clifford Chance
Class of 2021: $205K
Class of 2020: $205K
Class of 2013: $365K June 21, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Haynes & Boone
Class of 2020: $205K
Class of 2014: $350K
(raise contingent on having billed 1800 hours in the 12 months prior as of June 30, 2021; class of 2020 exempt) June 21, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Orrick
Incoming Year 1 Assoc: $202.5K
Year 1 Assoc: $205K
Senior Assoc Year 2: $350K (eligible for $15K adjustment, for a total of $365K) June 21, 2021 Yes
Class of 2020: $12K/$13.1K
Class of 2014/Counsel: $64K/$70K Chapman & Cutler
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $365K June 21, 2021 No Ross Aronstam
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $365K June 21, 2021 Yes
Class of 2017: $44K
Class of 2014+: $64K Sherman & Sterling
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $365K June 21, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Steptoe & Johnson
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $365K June 21, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Dorsey & Whitney
4th Year+ (Minneapolis, Salt Lake City, Seattle, Denver): $10-15K raises June 21, 2021 Yes (hours-based; not by class year; below market)
1800-1899: $2.5K
2400+: $20K Arnold & Porter
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013+: $365K June 22, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Linklaters
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $365K June 22, 2021 Yes
Class of 2020: $12K
Class of 2014+: $64K Torys
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013+: $365K June 22, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Perkins Coie
Class of 2020: $205K
Class of 2013: $365K June 23, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K King & Spalding
Class of 2020: $205K
Class of 2014+: $350K June 24, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Brown Rudnick
Class of 2020: $205K
Class of 2014: $350K June 24, 2021 No Snell & Wilmer
1st Years: $190K (LA/OC/SD/DC)
$150K (Denver/PHX/SLC)
$145K (LV/Portland)
$135K (Reno/Tucson)
2nd Years+: Individualized, black box June 24, 2021 No Jenner & Block
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2014: $350K June 24, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014: $64K Kelley Drye
All class years raised by $10K June 25, 2021 Yes (off-market; hours-based)
Discovery Attorneys: $5,000
Class of 2018-2020: $10K
Class of 2015-2017: $20K
Class of 2014+: $30K Jones Day
Class of 2020: $210K
Class of 2019+: Individualized, black box June 25, 2021 No Glenn Agre
Class of 2020: $205K
Class of 2013+: $365K June 28, 2021 No Reed Smith
Class of 2020: $205K
Class of 2019+: New national payscale to be announced on July 7 June 28, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014: $64K Alston & Bird
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2014+: $350K+ June 28, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Susman Godfrey
Class of 2020: $210K
Class of 2013: $370K June 29, 2021 No Stroock
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2013: $365K June 29, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Faegre Drinker
1st Years/8th Years: $205K/$315K (CA/CH/DC/NY)
$190K/$300K (PH)
$180K/$280K (CO/DA/MN/NJ/WM)
$150K/$230K (IN)
$140K/$215K (DM/FW)) July 1, 2021 No Foley & Lardner
Class of 2021: $202.5K
Class of 2020: $205K
Class of 2019: $215K
Class of 2018+: merit-based, “comparable” to DPW scale July 1, 2021 Yes (hours-based)
Class of 2020: $12K
Class of 2014+: $64K Holwell Shuster & Goldberg
Class of 2020: $205K
Class of 2014: $340K July 1, 2021 No Stoel Rives
$10K pay increase for all class years across all markets July 1, 2021 No K&L Gates
Class of 2020: $205K
Class of 2013: $365K
Salaries individualized based on market compensation July 2, 2021 No Vedder Price
Class of 2020: $205K
Class of 2013+: $305K-$325K
Salaries individualized based on “market factors” July 3, 2021 No

You did it! Got accepted to your (dream) school, achieved a JD, and are practicing law. Or something. Your friends and family are super proud of you. Unfortunately, Sallie Mae wants what is hers.

What now? How are you juggling your adult gig with the debts you started as a teenager? I would like to know. If you would like to share your experiences dealing with debt, strategies to overcome it, or favorite ways to ignore it, I would like to ask you a few questions. Send me an email at cwilliams@abovethelaw.com with the subject line “Debt Testimonial” if you’re interested. Expect me to ask some advice you would give to 1Ls, graduating 3Ls, and new hires trying to hit a net worth of zero and beyond.

(In the spirit of transparency and trust building, I have ~$213k in debt, all school-related: ~$30k from undergrad and ~$160k for the JD. I know I am not the only one in this boat. Let’s figure it out together. )

To participate in this series, you must meet these criteria:

1. You did not receive a full ride, non-merit scholarship to your law school of choice. Partial scholarships are fine. Full-ride merit scholarships are not, unless you lost it at some point in your law school experience.
2. Receiving gifts does not play a large role in your debt payback plans. This means no homes as graduation presents or small loans of a million dollars.
3. You are in control of your own income. #FreeBritney
4. You must be at least five figures in debt and have a JD. I don’t care if the debt is from school, GME shorts gone bad, or the like. You just have to be down bad.

---

Chris Williams became a social media manager and assistant editor for Above the Law in June 2021. Prior to joining the staff, he moonlighted as a minor Memelord™ in the Facebook group Law School Memes for Edgy T14s. Before that, he wrote columns for an online magazine named The Muse Collaborative under the pen name Knehmo. He endured the great state of Missouri long enough to graduate from Washington University in St. Louis School of Law. He is a former boatbuilder who cannot swim, a published author on critical race theory, philosophy, and humor, and has a love for cycling that occasionally annoys his peers. You can reach him by email at cwilliams@abovethelaw.com.

In one of the dumbest tweets of the last few weeks, Ben Shapiro lamented that no NYC mayoral candidate suggested banning crime. If only we’d thought to make crime illegal before!

Slightly less wacky but certainly in the same vein, a barristers’ chambers, 4 New Square Chambers, has gone to court to get a court order barring the ransomware attackers who hit the barristers already from releasing the stolen data. Yes, they want a court order telling criminals to please not do more criminal stuff.

And they managed to get it!

Handed down by Mrs Justice Steyn, the injunction orders the ransomware criminals not to “use, publish or communicate or disclose to any other person” any of the (unspecified) data they stole in June. No data from 4 New Square appears to have been published on the known ransomware gangs’ Tor-hosted leak blogs, though the injunction return date is this Friday (9 July).

Now, why would this order impede Russian or North Korean hackers from following through on a criminal enterprise they’ve already half completed? Unclear. Perhaps it’s just a natural human reaction to helplessness. The firm’s doing the only thing they know they can — win court orders — in the face of this horrible turn of luck. Unfortunately, that’s probably not going to help, but getting, and more importantly staying, ahead of the problem can.

Or, hey, maybe this is just what it takes to get those hackers to stop. Wow, we should’ve thought of this before!

Ransomware-hit law firm gets court order asking crooks not to publish the data they stole [The Register]

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Joe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.

Courthouses are like microcosms of humanity. People experience the highs and lows of life within those walls, so it’s full of interesting stories and moments.

On Insta, Overheardcourthouse collects all sorts of tidbits from the pursuit of justice. And if you want to laugh, well, take a look. Of particular interest, at least at Above the Law, are the pure reactions from lawyers, practicing their craft. Because sometimes, despite all the training, attorneys let their true feelings show. And we’re here for it.

Take this recent gem:

The good news for the anonymous defense counsel: salons are back open. Your beauty regime can officially enter the post-COVID phase.

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Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).

In the aftermath of the financial crisis, mindful of all the shit they took for throwing no one in jail for causing the biggest downturn since the Depression, the Justice Department took a new and somewhat counterintuitive tack: They’d go easy on the banks for all the bad shit they did, because nobody was impressed by even the largest fines they could levy—but only if the banks gave up as many actual human bodies as they could to throw in jail.

*New legislation lets gun violence victims sue reckless gun sellers and manufacturers. [WSJ]

*Mind your things and cross your letters. Fed Circuit takes IP lawyers to task for potentially vague patent. [Reuters]

*Will innovative seats in C suites bring more C notes? At least 3 top 100 firms think so. [Law.com]

*Elon Musk is his cousin’s keeper. Unfortunately, it could cost him. [Business Insider]

*Amy Coney Barrett’s decisions haven’t been as right leaning as they could have been. That’s good, right? [WaPo]

Stephen Breyer, 82, Has… Not Retired: So much for being a pragmatist, huh?

Forcing What I Want To Talk About Into A Legal Frame: Seriously is Rivals THE Best season of The Challenge, or what?

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