Jump to content
Sign in to follow this  
Ghalm

Bay street articling salary increases?

Recommended Posts

Rumour has it that one large bay street firm has increased their articling salary from 1450 a week to 1700 a week. Also, Law and Style magazine reported a month ago that Bennett Jones and Davies raised their articling salaries to 1850 a week (https://lawandstyle.ca/law/on-the-record-why-did-bennett-jones-and-davies-reward-their-articling-students-with-a-raise/).

So, what do we think? Is this an indication that the large firms on Bay street will increase their articling student salaries? What does it take for that to happen? Is one firm moving away from the norm enough?

Edited by Ghalm

Share this post


Link to post
Share on other sites

If one additional firm blinks and follows the move to $1,700, I think that'll be the domino to tip it across Bay Street. 

Share this post


Link to post
Share on other sites
21 minutes ago, FingersCr0ssed said:

I’ve heard rumours of immediate salary increases even amongst summers.

Great news for students

Share this post


Link to post
Share on other sites
10 hours ago, CorporateAlligator said:

Rumour has it a second Sister firm is following suit. 

You can't leave us in suspense like this!

Share this post


Link to post
Share on other sites

This is hearsay and unsubstantiated gossip, but heard that the salary increase made by one of the national Bay St firms came about over threats to unionize, and the student group uniformly holding off on accepting their articling offers until they got the pay raise.

That's a bold strategy, Cotton. But looks like it paid off. 

Edited by Cripes
  • Haha 4

Share this post


Link to post
Share on other sites

Skinner said the teachers will crack any minute, purple monkey dishwasher.

  • Like 6
  • Haha 2

Share this post


Link to post
Share on other sites
25 minutes ago, Cripes said:

This is hearsay and unsubstantiated gossip, but heard that the salary increase made by one of the national Bay St firms came about over threats to unionize, and the student group uniformly holding off on accepting their articling offers until they got the pay raise.

That's a bold strategy, Cotton. But looks like it paid off. 

I heard about the "threats" to unionize but it came from a few students and was received pretty coldly. Is this fanfic?

Share this post


Link to post
Share on other sites
2 hours ago, Cripes said:

This is hearsay and unsubstantiated gossip, but heard that the salary increase made by one of the national Bay St firms came about over threats to unionize, and the student group uniformly holding off on accepting their articling offers until they got the pay raise.

That's a bold strategy, Cotton. But looks like it paid off. 

I can’t imagine students having that much leverage over a firm, especially a Bay Street one. If a set of students refuse to article unless they receive a higher salary, there’d  an eager line of students waiting to take their place.

Edited by corruptfate
  • Like 2

Share this post


Link to post
Share on other sites

Or the likely reason is because student salaries have been stagnant forever and firms want to remain competitive with NY/other industries 

  • Like 3

Share this post


Link to post
Share on other sites

Yeah I don't think Davies decided to raise their student salary the last time they did because students had "leverage" over them.

  • Like 1

Share this post


Link to post
Share on other sites
43 minutes ago, Trew said:

Yeah I don't think Davies decided to raise their student salary the last time they did because students had "leverage" over them.

What, you think they did it out of the goodness of their hearts? 

It’s entirely about leverage. Just because an increase isn’t spurred by a threat to unionize or quit doesn’t mean it’s not about leverage.

  • Like 1

Share this post


Link to post
Share on other sites
15 minutes ago, BlockedQuebecois said:

What, you think they did it out of the goodness of their hearts? 

It’s entirely about leverage. Just because an increase isn’t spurred by a threat to unionize or quit doesn’t mean it’s not about leverage.

It is probably because they wanted to increase the leverage they already held, which was pretty high.

Edited by wtamow

Share this post


Link to post
Share on other sites
1 hour ago, wtamow said:

It is probably because they wanted to increase the leverage they already held, which was pretty high.

It’s really not that high. The students going to a firm like Davies have other options, both in the Toronto market and outside of it. If Davies were to cut pay, or let their pay fall below the street, they wouldn’t be able to attract and retain the talent they do.

And talent is all a law firm has – nobody is going to Davies because they have a nice painting in their boardroom. 

Does the balance of power rest with the firm? Absolutely. But to suggest that it’s a truly one sided relationship is just silly. 

Edited by BlockedQuebecois

Share this post


Link to post
Share on other sites
20 minutes ago, BlockedQuebecois said:

It’s really not that high. The students going to a firm like Davies have other options, both in the Toronto market and outside of it. If Davies were to cut pay, or let their pay fall below the street, they wouldn’t be able to attract and retain the talent they do.

And talent is all a law firm has – nobody is going to Davies because they have a nice painting in their boardroom. 

Does the balance of power rest with the firm? Absolutely. But to suggest that it’s a truly one sided relationship is just silly. 

Didn't say anything about paycuts or letting their pay fall below street. In the lawandstyle article that was posted about this, most Davies students said that the salary increase did not have a significant effect on their decision to go there. I really doubt anyone is choosing to work at Davies over Blakes because of $150 weekly salary increase. In my opinion, that is a really bad way to decide which firm you want to join. So I would assume you, Davies and I are all in agreement:

Quote

Mahil, for her part, doubts that Davies has ever landed a top student on salary alone, but she’s certain the firm has never lost a great applicant because it doesn’t pay enough. “Compensation isn’t the top driver of talent,” she says. “But we don’t want it to be an issue that comes up at all.”

Is it good PR? Sure.

Would they attract the same caliber students if their weekly articling salary remained at 2017-2018 levels (i.e. what the rest of Bay St is at)? Of course they would.

As a fun exercise, I wonder how high articling salaries would have to rise in order for firms such as Davies to compete for the candidates that go to NY.

Edited by wtamow
  • Like 1

Share this post


Link to post
Share on other sites

Students frequently have an inflated sense of their value to an employer. This thread is no exception. ;)

  • Like 8
  • Haha 1

Share this post


Link to post
Share on other sites
30 minutes ago, wtamow said:

in order for firms such as Davies to compete for the candidates that go to NY.

They already do. Many students who can do better than either NY firms or Davies choose other opportunities.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...