SULCROM SHATTERS MARKET WITH SPRING BONUS

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09042014
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SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby 09042014 » Thu Apr 26, 2012 5:12 pm

Class of 2011 — $1,000
Class of 2010 — $1,000
Class of 2009 — $2,500
Class of 2008 — $2,500
Class of 2007 — $2,500
Class of 2006 — $5,000


lol


http://abovethelaw.com/2012/04/breaking ... s#comments

Morgan12Oak
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby Morgan12Oak » Thu Apr 26, 2012 5:18 pm

Why would you even pay a bonus? You're a prestigious firm, you'll maintain more prestige by not paying a bonus then by paying this.

Thank god for direct deposit. If not for direct deposit, this wouldn't even be worth my effort to walk to the bank to deposit it.

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D-hops
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby D-hops » Thu Apr 26, 2012 5:21 pm

Morgan12Oak wrote:Why would you even pay a bonus? You're a prestigious firm, you'll maintain more prestige by not paying a bonus then by paying this.

Thank god for direct deposit. If not for direct deposit, this wouldn't even be worth my effort to walk to the bank to deposit it.


Because they promised spring bonuses in the winter. Otherwise they probably wouldn't have paid anything.

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Unitas
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby Unitas » Thu Apr 26, 2012 5:22 pm

Morgan12Oak wrote:Why would you even pay a bonus? You're a prestigious firm, you'll maintain more prestige by not paying a bonus then by paying this.

Thank god for direct deposit. If not for direct deposit, this wouldn't even be worth my effort to walk to the bank to deposit it.


Oh but it would because as it turns out you are not getting anything extra for working all those ungodly hours. Might as well take some time off. Even if you are billing 500 bucks an hour all 500 of that after you've billed your initial costs (probably around 1700 hours) are going into a partner's pocket as pure profit.

Is this foreshadowing financial trouble in biglaw? Last years profits don't justify this so it seems it is pure greed by the partners or they are legit worried about 2012.

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dowu
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby dowu » Thu Apr 26, 2012 5:25 pm

Morgan12Oak wrote:Why would you even pay a bonus? You're a prestigious firm, you'll maintain more prestige by not paying a bonus then by paying this.

Thank god for direct deposit. If not for direct deposit, this wouldn't even be worth my effort to walk to the bank to deposit it.


Wait, so it's a shitty bonus, and even so, you're saying that $1,000 dollars would not be worth the effort to walk to the bank to deposit it?

Can i has like $1,000 dollers?

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thesealocust
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby thesealocust » Thu Apr 26, 2012 5:27 pm

This a puzzling move by S&C. Legitimately embarrassing bonus amount.

Put it in context: A $1,000 bonus is less than one third of a week's salary. I can't imagine bonuses at this level being moral-enhancing.

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romothesavior
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby romothesavior » Thu Apr 26, 2012 5:27 pm

Wow, pathetic.

rad lulz
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby rad lulz » Thu Apr 26, 2012 5:27 pm

NY to 180!

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dowu
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby dowu » Thu Apr 26, 2012 5:30 pm

...
Last edited by dowu on Wed Sep 17, 2014 2:02 am, edited 1 time in total.

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angrybird
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby angrybird » Thu Apr 26, 2012 5:31 pm

nmop_apisdn wrote:
thesealocust wrote:This a puzzling move by S&C. Legitimately embarrassing bonus amount.

Put it in context: A $1,000 bonus is less than one third of a week's salary. I can't imagine bonuses at this level being moral-enhancing.


I see that. But what I'm saying is that people should not say that the bonus is not worth walking to the bank for. Like, 1000 dollars is not anything you would just throw away.

That is unless he was being completely sarcastic and im just being retarded. Carry on.

your services are needed here: viewtopic.php?f=10&t=183509&start=350#p5447879

Morgan12Oak
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby Morgan12Oak » Thu Apr 26, 2012 5:32 pm

I guess this is why S&C wasn't on the happiest law firm list! Although, I doubt DPW or any of the firms on that last will beat.

005618502
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby 005618502 » Thu Apr 26, 2012 5:35 pm

rad lulz wrote:NY to 180!


LMAO!!!!! This was the perfect post

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Detrox
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby Detrox » Thu Apr 26, 2012 5:37 pm

How many firms will follow suit? Will the collusion-esque bonus matching still apply for other top firms or will S&C just be an outlier this year?

09042014
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby 09042014 » Thu Apr 26, 2012 5:38 pm

AssumptionRequired wrote:
rad lulz wrote:NY to 180!


LMAO!!!!! This was the perfect post


No this post from Xo is perfect =>
NY to 161!

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D-hops
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby D-hops » Thu Apr 26, 2012 5:40 pm

Now I am curious why people still continue to pick these Cravath/Sulcrom-scale bonus firms over the firms that pay more variable rate bonuses with the bottom of the scale equaling these other firms. I imagine not everyone has those choices, but I am sure quite a few people do and still chose the lockstep bonus firms.

005618502
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby 005618502 » Thu Apr 26, 2012 5:46 pm

Desert Fox wrote:
AssumptionRequired wrote:
rad lulz wrote:NY to 180!


LMAO!!!!! This was the perfect post


No this post from Xo is perfect =>
NY to 161!


This was also the perfect post. Both gave a nice :lol:

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dowu
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby dowu » Thu Apr 26, 2012 5:47 pm

angrybird wrote:your services are needed here: viewtopic.php?f=10&t=183509&start=350#p5447879


Touche, my friend.

$1,000 bonus? WHAT A CROCK OF SHIT!!!!! Homeless people get bigger bonuses.

09042014
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby 09042014 » Thu Apr 26, 2012 5:49 pm

D-hops wrote:Now I am curious why people still continue to pick these Cravath/Sulcrom-scale bonus firms over the firms that pay more variable rate bonuses with the bottom of the scale equaling these other firms. I imagine not everyone has those choices, but I am sure quite a few people do and still chose the lockstep bonus firms.


How much more does KE and Quinn end up paying their associates. I'd imagine some of it is exit options, but damn, I don't know.

If midlevels start moving in droves to those firms, the lockstep firms will have to match.

What other firms pay significantly above market to a good chunk of their associates? Even Quinn is really just at market for 2100-2400 hours right? I know at least a couple V100 do bonuses that can go above market, but we are talking barely so, and only for a small number.

concurrent fork
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby concurrent fork » Thu Apr 26, 2012 5:50 pm

.
Last edited by concurrent fork on Sun Jul 08, 2012 6:57 pm, edited 1 time in total.

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angrybird
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby angrybird » Thu Apr 26, 2012 5:52 pm

is it possible they just accidentally left a zero off the end of each bonus?

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Unitas
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby Unitas » Thu Apr 26, 2012 5:52 pm

http://www.youtube.com/watch?v=M55m81BWdBc
The rant is appropriate around 2:50-4:05.

Also, a jelly of the month club subscription costs about 400 dollars for a year. About the same as a first year associate will get after taxes.

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D-hops
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby D-hops » Thu Apr 26, 2012 6:02 pm

Desert Fox wrote:
D-hops wrote:Now I am curious why people still continue to pick these Cravath/Sulcrom-scale bonus firms over the firms that pay more variable rate bonuses with the bottom of the scale equaling these other firms. I imagine not everyone has those choices, but I am sure quite a few people do and still chose the lockstep bonus firms.


How much more does KE and Quinn end up paying their associates. I'd imagine some of it is exit options, but damn, I don't know.

If midlevels start moving in droves to those firms, the lockstep firms will have to match.

What other firms pay significantly above market to a good chunk of their associates? Even Quinn is really just at market for 2100-2400 hours right? I know at least a couple V100 do bonuses that can go above market, but we are talking barely so, and only for a small number.


With KE and Quinn I think it can be 3-4 times market bonuses. Boeis pays above market, I think Ropes can pay above market. I am sure there are others I can't think of.

But when you think about it there aren't many firms that are going to be putting significant pressure on the top firms to change their compensation because there are just too many jobs at the Cravath-scale firms.

lsatcrazy
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby lsatcrazy » Thu Apr 26, 2012 6:06 pm

Dat pardner lunch moneyz...

Anonymous User
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby Anonymous User » Thu Apr 26, 2012 6:08 pm

What's the market bonus?

PMan99
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Re: SULCROM SHATTERS MARKET WITH SPRING BONUS

Postby PMan99 » Thu Apr 26, 2012 6:20 pm

D-hops wrote:
Desert Fox wrote:
D-hops wrote:Now I am curious why people still continue to pick these Cravath/Sulcrom-scale bonus firms over the firms that pay more variable rate bonuses with the bottom of the scale equaling these other firms. I imagine not everyone has those choices, but I am sure quite a few people do and still chose the lockstep bonus firms.


How much more does KE and Quinn end up paying their associates. I'd imagine some of it is exit options, but damn, I don't know.

If midlevels start moving in droves to those firms, the lockstep firms will have to match.

What other firms pay significantly above market to a good chunk of their associates? Even Quinn is really just at market for 2100-2400 hours right? I know at least a couple V100 do bonuses that can go above market, but we are talking barely so, and only for a small number.


With KE and Quinn I think it can be 3-4 times market bonuses. Boeis pays above market, I think Ropes can pay above market. I am sure there are others I can't think of.

But when you think about it there aren't many firms that are going to be putting significant pressure on the top firms to change their compensation because there are just too many jobs at the Cravath-scale firms.


There are a handful but most seem impossible to lateral into:

WLRK - lol
W&C - no bonus, 180k base, lol
Boies - ? Dominated by litigation though
Susman - lol
Quinn - all litigation, no spot for generic corporate 3rd year
K&E - maybe
Irell - mostly litigation, so same problem as Quinn/Boies




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