2014 Biglaw Bonus Thread Forum

[84651846190]

Applying to be employee #2 at Danteshek's firm right now

You have neither the balls nor the skills

lol'd

[2014]

Do we have any idle speculation on what this means for base? I assume there'd be at least some pressure to reconsider mid-level base at some firms, even if 1st year base remains 160k.

Seems like this could be a step in the right direction but in the short term you would think it will also relieve some of the pressure to jack up salary.

[Anonymous User]

I would literally go insane working that much. My worst year so far was about 2,500. I thought I was going to die.

What does that look like? 52 60 hour weeks?

It's never anything close to a consistent number of hours per week. It's always bursty, like 120 hour weeks followed by a week of almost zero hours. The bursty nature makes it many times more difficult than if it were simply 52 60-hour weeks (which itself would not be easy).

I disagree with this, but I think it totally depends on your personal life. For me, the up and down weeks are actually great. I'm single and don't have any real responsibilities, so when i have a slow week I can go enjoy life and not be stressed by work, when it's super busy i don't feel bad about throwing myself completely into the deal and don't feel like i'm missing out on stuff.

If you have a family or a SO that doesn't understand, I can totally see how it would suck. But for me, having ~15 weeks a year where i'm able to leave work by 5 or 6 are more than a fair trade for those other weeks where i'm completely crushed.

[mmelittlechicken]

I forgot, is dantesheck the insane guy who got into that diff with waterman and like tried to deport a classmate?

[fats provolone]

I forgot, is dantesheck the insane guy who got into that diff with waterman and like tried to deport a classmate?

lol I think he went to UT so that sounds plausible

[JusticeHarlan]

I forgot, is dantesheck the insane guy who got into that diff with waterman and like tried to deport a classmate?

lol I think he went to UT so that sounds plausible

Nah:

I've now attended law school at Southwestern (1L), Loyola (2L, 3L), and Georgetown (LLM-Securities and Financial Regulation). From fall 2013 to summer 2015 I will be in Russia on a fellowship studying Public Law at Higher School of Economics.

But I'm sure he's making four times biglaw salary right now while at the same time doing that Russian thing. That sounds totally legit.

Danteshek, does your $640k per year include the dollar to ruble conversion rate?

[GOATlawman]

I forgot, is dantesheck the insane guy who got into that diff with waterman and like tried to deport a classmate?

lol I think he went to UT so that sounds plausible

Nah:

I've now attended law school at Southwestern (1L), Loyola (2L, 3L), and Georgetown (LLM-Securities and Financial Regulation). From fall 2013 to summer 2015 I will be in Russia on a fellowship studying Public Law at Higher School of Economics.

But I'm sure he's making four times biglaw salary right now while at the same time doing that Russian thing. That sounds totally legit.

Danteshek, does your $640k per year include the dollar to ruble conversion rate?

creepy...

[Mal Reynolds]

Amazing

[84651846190]

I would literally go insane working that much. My worst year so far was about 2,500. I thought I was going to die.

What does that look like? 52 60 hour weeks?

It's never anything close to a consistent number of hours per week. It's always bursty, like 120 hour weeks followed by a week of almost zero hours. The bursty nature makes it many times more difficult than if it were simply 52 60-hour weeks (which itself would not be easy).

I disagree with this, but I think it totally depends on your personal life. For me, the up and down weeks are actually great. I'm single and don't have any real responsibilities, so when i have a slow week I can go enjoy life and not be stressed by work, when it's super busy i don't feel bad about throwing myself completely into the deal and don't feel like i'm missing out on stuff.

If you have a family or a SO that doesn't understand, I can totally see how it would suck. But for me, having ~15 weeks a year where i'm able to leave work by 5 or 6 are more than a fair trade for those other weeks where i'm completely crushed.

100% agree. If I were single with no kids, I would totally sell my soul and gun for partner.

[Danteshek]

Not worth my time, obviously. Keep billing guys.

[sinfiery]

Amazing

No longer in Russia, but still abroad! Market in Russia was not what it was obviously. In 2008 - before I went to law school - I had no problem finding a great job in Moscow. Then the financial crisis happened. The past year in Russia was mostly a waste of time but I did meet some very interesting people and learned a hell of a lot. I do not rule out an eventual return to Russia but more likely it will be just be a CIS deal from time to time. The world is a big place, full of opportunities, most of which are not widely publicized. Especially in Finance and Private Equity. I don't know why, but I feel an obligation to lead at least one person out of the NYC biglaw TLS fog. You guys are so fucking cynical on this board it makes me want to puke. This is the kind of attitude and world view that leads to alcoholism and suicide. If anyone here can suspend his disbelief for a noanosecond and PM me, perhaps I would be willing to share more offline. It just might be the beginning of a beautiful relationship. Bonus points if you are multilingual. I will be in NYC for a week next month...

Oh great one, why do you choose to bestow onto us such rewards?

[Danteshek]

I have met some worthwhile people through this Board. Not many, but a few.

[fats provolone]

Amazing

[Danteshek]

Amazing

This is Amazing:


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[fats provolone]

Amazing

This is Amazing:


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nothing in life is free my friend

[Danteshek]

Amazing

This is Amazing:


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nothing in life is free my friend

A cynic like you knows nothing of friendship.

[911 crisis actor]

No longer in Russia, but still abroad! Market in Russia was not what it was obviously. In 2008 - before I went to law school - I had no problem finding a great job in Moscow. Then the financial crisis happened. The past year in Russia was mostly a waste of time but I did meet some very interesting people and learned a hell of a lot. I do not rule out an eventual return to Russia but more likely it will be just be a CIS deal from time to time. The world is a big place, full of opportunities, most of which are not widely publicized. Especially in Finance and Private Equity. I don't know why, but I feel an obligation to lead at least one person out of the NYC biglaw TLS fog. You guys are so fucking cynical on this board it makes me want to puke. This is the kind of attitude and world view that leads to alcoholism and suicide. If anyone here can suspend his disbelief for a noanosecond and PM me, perhaps I would be willing to share more offline. It just might be the beginning of a beautiful relationship. Bonus points if you are multilingual. I will be in NYC for a week next month...

Spasibo

[utahraptor]

[utahraptor]

oh, I was just looking for amusement, btw

[mmelittlechicken]

I did fine in the end (just got a two-year fellowship valued at $130,000), but your career is in your hands. None of those other people are going to give you a job, no matter how much they like you.

[Mal Reynolds]

Here's his pm to me.

Let's imagine for a second that you make 160k and a 10k base. What is the lowest base you would accept for a 50% chance of making 1 million USD in one year, and a 50% chance of no bonus at all? 12k? 40k? This is the world of dealmaking. If there are no fees there is no income. And it can really hurt if you are not successful. You either can handle the risk or you can't. 99% can't stomach it.

[fats provolone]

I just took a shit valued at $400

[IrwinM.Fletcher]

danteshek has always been my favorite horatio alger character. From southwestern to loyola law review editorial board to georgetown llm to prematurely terminated fellowship to breaking one off in george soros.

delusionally patronizing tls posters literally every step of the way.

[lonerider]

So uh back to bonuses...

Junior banker salaries got boosted 20% this year. http://wsj.com/articles/wall-street-ban ... 7?mobile=y

Trying to use the google on my phone but it seems like bonuses for ibanks are up this year too? mergersandinquisitions.com/2014-investment-banking-bonuses/ Not really sure if this source is credible or if I'm reading it right.

Banks base pay + bonus rise = big law base pay rise too?

[cookiejar1]

Banks base pay + bonus rise = big law base pay rise too?

Is there a real relationship between banker compensation and biglaw compensation? I can imagine a raise in ibanker total comp pressuring tech and consulting to match or raise but that's only because all of the different firms are targeting the same group of MBA students. JDs are definitely on the sideline here.