Cravath SHATTERS THE MARKET!

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Anonymous User
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Re: Cravath SHATTERS THE MARKET!

Postby Anonymous User » Tue Nov 29, 2011 9:54 am

The moral of this thread is that everyone should take Kirkland Chicago. It's odd, they actually don't necessarily beat out Sidley for the top Chicago-based talent all the time because people are scared of the "mean" reputation, Columbia/NYU/Y/H kids are NYC-obsessed, and S kids seem to stay where the weather isn't god-fucking-awful.

But that's ok, more Chicago models and bottles for those of us who aren't illogically NYC-obsessed can do math :D

Transferthrowaway
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Re: Cravath SHATTERS THE MARKET!

Postby Transferthrowaway » Tue Nov 29, 2011 10:16 am

ToTransferOrNot wrote:But again, this is ignoring all the other parts of "compensation" (mainly exit options and 'ZOMG NYC') that go along with being a NYC attorney, for whatever an individual thinks those things are worth. (Given that I'm Chicago-bound, and I have talked more than one person into turning down NYC-prestige for Chicago-$$$, I don't think they're worth much; but people obviously attach significant value to them or, as I said, NYC would already be suffering for top=flight talent.)

8)

Transferthrowaway
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Re: Cravath SHATTERS THE MARKET!

Postby Transferthrowaway » Tue Nov 29, 2011 10:27 am

Veyron wrote:
IAFG wrote:
Veyron wrote:
IAFG wrote:but he's still just a fucking lawyer, now isn't he?


Joe Jamail is just a lawyer the same way that I'm just a poster. He could probably pay Tom Trump Supporter Brady to ball for him.

But would Giselle Bundchen (enthusiastically) fuck him?


This video may answer that question for you http://www.youtube.com/watch?v=UEc8Xzn1WqU


WE NEED $12 BILLYAWN DOLLARS

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Veyron
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Re: Cravath SHATTERS THE MARKET!

Postby Veyron » Tue Nov 29, 2011 11:58 am

Transferthrowaway wrote:


WE NEED $12 BILLYAWN DOLLARS[/quote]

See, complaining about bonuses is not limited to junior associates.

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Veyron
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Re: Cravath SHATTERS THE MARKET!

Postby Veyron » Tue Nov 29, 2011 12:00 pm

-
Last edited by Veyron on Tue Nov 29, 2011 12:54 pm, edited 1 time in total.

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20130312
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Re: Cravath SHATTERS THE MARKET!

Postby 20130312 » Tue Nov 29, 2011 12:08 pm

Veyron wrote:More like cute girl is a b**** who will seek to dominate your life and prevent you from ever seeing your family and friends, wouldn't touch her.


Careful, the femi-nazis will be out for blood after an inflammatory post like that.

Anonymous User
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Re: Cravath SHATTERS THE MARKET!

Postby Anonymous User » Tue Nov 29, 2011 12:28 pm

What firm (besides Wachtell) is highest for first year associate compensation? Either in per-hour terms, or aggregate...

headandshoulderos
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Re: Cravath SHATTERS THE MARKET!

Postby headandshoulderos » Tue Nov 29, 2011 12:31 pm

Anonymous User wrote:What firm (besides Wachtell) is highest for first year associate compensation? Either in per-hour terms, or aggregate...


you can rake it in at boies.

Anonymous User
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Re: Cravath SHATTERS THE MARKET!

Postby Anonymous User » Tue Nov 29, 2011 12:36 pm

that's it? I know Kirkland, when you adjust for COL, is a pretty good bet, but what about DC offices? Williams and Connolly?

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Veyron
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Re: Cravath SHATTERS THE MARKET!

Postby Veyron » Tue Nov 29, 2011 12:38 pm

Anonymous User wrote:that's it? I know Kirkland, when you adjust for COL, is a pretty good bet, but what about DC offices? Williams and Connolly?


Ummmm, Susman.

headandshoulderos
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Re: Cravath SHATTERS THE MARKET!

Postby headandshoulderos » Tue Nov 29, 2011 12:39 pm

Anonymous User wrote:that's it? I know Kirkland, when you adjust for COL, is a pretty good bet, but what about DC offices? Williams and Connolly?


why are you anonymous? i think you can get high bonuses at quinn too. jones day does black box compensation so who knows, there is unlimited earnings potential!

ToTransferOrNot
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Re: Cravath SHATTERS THE MARKET!

Postby ToTransferOrNot » Tue Nov 29, 2011 12:52 pm

headandshoulderos wrote:
Anonymous User wrote:that's it? I know Kirkland, when you adjust for COL, is a pretty good bet, but what about DC offices? Williams and Connolly?


why are you anonymous? i think you can get high bonuses at quinn too. jones day does black box compensation so who knows, there is unlimited earnings potential!


lol

Doesn't Williams and Connolly have higher base but no bonus? Maybe I'm wrong about that.

Also, many of the litigation boutiques pay above market, though the majority don't have readily ascertainable information.

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Doritos
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Re: Cravath SHATTERS THE MARKET!

Postby Doritos » Tue Nov 29, 2011 2:40 pm

headandshoulderos wrote:
Anonymous User wrote:What firm (besides Wachtell) is highest for first year associate compensation? Either in per-hour terms, or aggregate...


you can rake it in at boies.


If you don't mind working 3000 hours. I hear all the male associates have beards because they don't want to lose the time it takes to shave in the morning. That's billable time baby.

headandshoulderos
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Re: Cravath SHATTERS THE MARKET!

Postby headandshoulderos » Tue Nov 29, 2011 2:46 pm

Doritos wrote:
headandshoulderos wrote:
Anonymous User wrote:What firm (besides Wachtell) is highest for first year associate compensation? Either in per-hour terms, or aggregate...


you can rake it in at boies.


If you don't mind working 3000 hours. I hear all the male associates have beards because they don't want to lose the time it takes to shave in the morning. That's billable time baby.


ya and i heard they all have bathrooms in their offices.

LawIdiot86
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Re: Cravath SHATTERS THE MARKET!

Postby LawIdiot86 » Tue Nov 29, 2011 3:08 pm

headandshoulderos wrote:
Doritos wrote:
headandshoulderos wrote:
Anonymous User wrote:What firm (besides Wachtell) is highest for first year associate compensation? Either in per-hour terms, or aggregate...


you can rake it in at boies.


If you don't mind working 3000 hours. I hear all the male associates have beards because they don't want to lose the time it takes to shave in the morning. That's billable time baby.


ya and i heard they all have bathrooms in their offices.

If you can't shave while typing on your BlackBerry and driving into work at 100mph every three days after you are allowed to go home to get your mail, you clearly aren't cut out for BSF.

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IAFG
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Re: Cravath SHATTERS THE MARKET!

Postby IAFG » Tue Nov 29, 2011 3:10 pm

I love when people who are going to biglaw sweatshops shit on other biglaw sweatshops' QOL.

anewaphorist
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Re: Cravath SHATTERS THE MARKET!

Postby anewaphorist » Tue Nov 29, 2011 3:42 pm

Kind of like Apple shitting on Windows for their willingness to export technology jobs overseas.
--ImageRemoved--

xcountryjunkie
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Re: Cravath SHATTERS THE MARKET!

Postby xcountryjunkie » Tue Nov 29, 2011 4:12 pm

ToTransferOrNot wrote:
headandshoulderos wrote:
Anonymous User wrote:that's it? I know Kirkland, when you adjust for COL, is a pretty good bet, but what about DC offices? Williams and Connolly?


why are you anonymous? i think you can get high bonuses at quinn too. jones day does black box compensation so who knows, there is unlimited earnings potential!


lol

Doesn't Williams and Connolly have higher base but no bonus? Maybe I'm wrong about that.

Also, many of the litigation boutiques pay above market, though the majority don't have readily ascertainable information.


$180K base. No bonuses.

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Doritos
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Re: Cravath SHATTERS THE MARKET!

Postby Doritos » Tue Nov 29, 2011 5:04 pm

IAFG wrote:I love when people who are going to biglaw sweatshops shit on other biglaw sweatshops' QOL.


But...I was told my firm was a lifestyle firm...

dixiecupdrinking
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Re: Cravath SHATTERS THE MARKET!

Postby dixiecupdrinking » Tue Nov 29, 2011 6:38 pm

I'm sure Cravath will learn their lesson when all of their summer associates vote with their feet and turn down their offers this year to do 3L OCI instead.

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IAFG
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Re: Cravath SHATTERS THE MARKET!

Postby IAFG » Tue Nov 29, 2011 6:40 pm

dixiecupdrinking wrote:I'm sure Cravath will learn their lesson when all of their summer associates vote with their feet and turn down their offers this year to do 3L OCI instead.

I am guessing you're joking, but most firms just follow along with what Cravath does, so the opportunities to "trade up" are all but nonexistent.

ruski
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Re: Cravath SHATTERS THE MARKET!

Postby ruski » Tue Nov 29, 2011 6:53 pm

Anonymous User wrote:A 4th or a 5th year at CSM will be making a base salary well over 200K and be getting a fat bonus on top of it.

The finance comparisons are quite imperfect. Finance bonuses are not lock stop, and finance base salaries are lower than legal salaries, and finance jobs are usually harder to hold on to. Apples and oranges. You hear more about the guys with fat bonuses at big banks than the guys getting no bonuses or getting laid off. Try following dealbreaker and not just abovethelaw for more insight there. (UBS sucks).


i agree the comparison sucks. i also agree that ubs sucks - big time. but to go ahead with the analogy anyways, i know ubs paid a 35k bonus this year to 1st year analysts i.e. 22 year olds. one thing i don't understand is why doesn't law firms market follow the finance market, in the sense that the top firms pay out better bonuses. like goldman probably doubled ubs's bonus, and i understand ubs's bonus this year were way lower than other bulge brackets. which makes sense. so why are cravath, s&c, simpson etc. paying the same bonuses as v100? this is really evident now where the v10 are really busy and picking up laterals, where the lower v100 have not rebounded as well - this would be a perfect time for them to really differentiate themselves. just like in finance, bonus distinguishes the top firms from the rest. with law firms, it seems to be the way to get distinguished is to just be a really old firm.

i think you also have to keep in mind long term perspective. yes cravath low-balling one or two years won't hurt really hurt them in the next year or so. but it's this general lack of awareness from the partners and resulting low-morale of associates that will have a more long term impact on the firm i think.

xcountryjunkie
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Re: Cravath SHATTERS THE MARKET!

Postby xcountryjunkie » Tue Nov 29, 2011 6:58 pm

Where's the mad rush of firms matching? Anyone think firms don't want to be next in line in case Cravath low-balled the market?

005618502
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Re: Cravath SHATTERS THE MARKET!

Postby 005618502 » Tue Nov 29, 2011 7:23 pm

You guys think Boies works their associates more than wachtell?

What about Susman?

Which is harder to get Susman or W&C? I have a buddy with a SA at W&C this summer, he is pretty pumped. But no they dont do bonuses on top of their above market salary. First years get 180,000 which easily makes up for the measily bonuses we have been mentioning

LawIdiot86
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Re: Cravath SHATTERS THE MARKET!

Postby LawIdiot86 » Tue Nov 29, 2011 7:28 pm

AssumptionRequired wrote:You guys think Boies works their associates more than wachtell?

What about Susman?

Which is harder to get Susman or W&C? I have a buddy with a SA at W&C this summer, he is pretty pumped. But no they dont do bonuses on top of their above market salary. First years get 180,000 which easily makes up for the measily bonuses we have been mentioning

At some point though the differential stops mattering. By the time you hit the V10 or the elite boutiques, you have already given up on work-life balance. There isn't family, or free time, or sleep; it's just figuring out which is the least likely to drive you insane before you can lateral out.




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