Bonus Speculation

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Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Wed Oct 25, 2017 10:19 pm

RaceJudicata wrote:
LaLiLuLeLo wrote:What kind of cost cutting? Getting rid of outdated services like the library/librarian is unfortunate but understandable. Getting rid of snacks is not.

Anyway, our hopes really lie with Cravath with dark horse S&C and maybe STB?


Ya interested as to what cost cutting measures are happening places.


I've heard of little things (though not confirmed) like cutting the SA budget, certain mentoring committees, contemplating revocation of tech stipends. Friends at other V10s have noted (confirmed) significant cuts to career paralegals, support staff that were underperforming/dead weight. None of it seems particularly alarming to me, but I think it's odd in light of constant presentations about the overall good health of the firms. Why now?

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Capitol_Idea
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Re: Bonus Speculation

Postby Capitol_Idea » Wed Oct 25, 2017 10:20 pm

You people are deluding yourselves about bonuses

They'll have to remain the same because NY IS GOING TO 200K this next year

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jbagelboy
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Re: Bonus Speculation

Postby jbagelboy » Wed Oct 25, 2017 10:26 pm

bonuses are not moving. let's not fucking kid ourselves

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rpupkin
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Re: Bonus Speculation

Postby rpupkin » Wed Oct 25, 2017 10:27 pm

Capitol_Idea wrote:You people are deluding yourselves about bonuses

They'll have to remain the same because NY IS GOING TO 200K this next year

How dare you suggest that the sacred 190K layer will be bypassed. You must've become a mod for the sole purpose of suggesting such heresy without the risk of a thread lock or ban.

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rpupkin
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Re: Bonus Speculation

Postby rpupkin » Wed Oct 25, 2017 10:30 pm

jbagelboy wrote:bonuses are not moving. let's not fucking kid ourselves

But, as was pointed out earlier in this thread, stagnant bonuses would be very bad for associate morale. And if I've learned one thing during my years in this profession, it's that big law firms will not tolerate low associate morale.

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Capitol_Idea
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Re: Bonus Speculation

Postby Capitol_Idea » Wed Oct 25, 2017 10:52 pm

rpupkin wrote:
Capitol_Idea wrote:You people are deluding yourselves about bonuses

They'll have to remain the same because NY IS GOING TO 200K this next year

How dare you suggest that the sacred 190K layer will be bypassed. You must've become a mod for the sole purpose of suggesting such heresy without the risk of a thread lock or ban.

I can't help that sustained biglaw has crushed your ability to DREAM

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cfcm
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Re: Bonus Speculation

Postby cfcm » Wed Oct 25, 2017 11:09 pm

SmokeytheBear wrote:
Anonymous User wrote:Related question: When will we get the announcement? My firm also just had its end of fiscal talk with associates and reported great numbers, and high average billable hours. I think someone announces the week of or week after Thanksgiving.


There is always speculation as to when it will happen, but it's generally around Thanksgiving.

Last year was the Monday after Thanksgiving. https://abovethelaw.com/2016/11/associa ... e-bonuses/

My personal view:
jbagelboy wrote:bonuses are not moving. let's not fucking kid ourselves

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Lincoln
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Re: Bonus Speculation

Postby Lincoln » Wed Oct 25, 2017 11:33 pm

rpupkin wrote:
jbagelboy wrote:bonuses are not moving. let's not fucking kid ourselves

But, as was pointed out earlier in this thread, stagnant bonuses would be very bad for associate morale. And if I've learned one thing during my years in this profession, it's that big law firms will not tolerate low associate morale.


I have found that it's the partners' top priority at my firm. Therefore, bonuses are definitely going up.

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Thu Oct 26, 2017 9:06 am

v5junior wrote:
How does Vault come up with its list of the Top 100 law firms? The first step is to compile a list of the most renowned law firms across the country by reviewing the feedback we have received in previous surveys, poring over legal publications, speaking with lawyers, legal recruiters, and law firm personnel, and reviewing other published rankings. We then asked these top firms to distribute an online survey to their associates. This year, nearly 18,000 attorneys returned anonymous surveys to Vault. Associates from all over the country and the world responded. We heard from lawyers in New York, Los Angeles, San Francisco, Silicon Valley, Chicago, Boston, Philadelphia, Houston, Dallas, DC, Miami, London, Cleveland, Seattle, Orlando, Paris, Phoenix, Atlanta and many other domestic and international locations. The online survey asked attorneys to score each of the law firms on a scale of 1 to 10 based on how prestigious they perceive the firm to be. Associates were instructed to only rate those firms with which they were familiar and were not permitted to rate their own firm. Vault then tallied the scores and now presents the results in our Top 100 ranking.


v5junior wrote:Seen ITT: IR8 DPW/S&C associate mad that his firm is less prestigious (literally only thing the vault rankings tell you, see below) than Skadden. Also, no, I do not work at Skadden.


Not in New York.

I guess Skadden is more prestigious nationally in the same way Macy's is more prestigious than Barneys or Bergdorf Goodman. Most people in SoCal, the Midwest, Texas, etc. have never been in a Barneys or Bergdorf, much like lawyers in those regions probably only intermittently interact with S&C/DPW lawyers, so they'd identify Macy's as more "prestigious" in a survey than the brand they're unfamiliar with. Skadden is like Macy's.

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SmokeytheBear
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Re: Bonus Speculation

Postby SmokeytheBear » Thu Oct 26, 2017 10:28 am

Anonymous User wrote:
v5junior wrote:
How does Vault come up with its list of the Top 100 law firms? The first step is to compile a list of the most renowned law firms across the country by reviewing the feedback we have received in previous surveys, poring over legal publications, speaking with lawyers, legal recruiters, and law firm personnel, and reviewing other published rankings. We then asked these top firms to distribute an online survey to their associates. This year, nearly 18,000 attorneys returned anonymous surveys to Vault. Associates from all over the country and the world responded. We heard from lawyers in New York, Los Angeles, San Francisco, Silicon Valley, Chicago, Boston, Philadelphia, Houston, Dallas, DC, Miami, London, Cleveland, Seattle, Orlando, Paris, Phoenix, Atlanta and many other domestic and international locations. The online survey asked attorneys to score each of the law firms on a scale of 1 to 10 based on how prestigious they perceive the firm to be. Associates were instructed to only rate those firms with which they were familiar and were not permitted to rate their own firm. Vault then tallied the scores and now presents the results in our Top 100 ranking.


v5junior wrote:Seen ITT: IR8 DPW/S&C associate mad that his firm is less prestigious (literally only thing the vault rankings tell you, see below) than Skadden. Also, no, I do not work at Skadden.


Not in New York.

I guess Skadden is more prestigious nationally in the same way Macy's is more prestigious than Barneys or Bergdorf Goodman. Most people in SoCal, the Midwest, Texas, etc. have never been in a Barneys or Bergdorf, much like lawyers in those regions probably only intermittently interact with S&C/DPW lawyers, so they'd identify Macy's as more "prestigious" in a survey than the brand they're unfamiliar with. Skadden is like Macy's.


A for effort amigo, but this is possibly the worst analogy I have ever seen. In no world is Macys more prestigious than Barneys. People in SoCal love Barneys, there are many of them, much of my wardrobe has come from them. People in SoCal interact with attorneys at those firms all the time. I don't know where a Macys is, or if we have them.

I might go to Barneys today during lunch. Thanks for the reminder.

And yes, Skadden is like the Beats By Dre of law firms.

jd20132013
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Re: Bonus Speculation

Postby jd20132013 » Thu Oct 26, 2017 10:40 am

jbagelboy wrote:bonuses are not moving. let's not fucking kid ourselves

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SmokeytheBear
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Re: Bonus Speculation

Postby SmokeytheBear » Thu Oct 26, 2017 11:33 am

jd20132013 wrote:
jbagelboy wrote:bonuses are not moving. let's not fucking kid ourselves


Is gamgling prohibited on TLS? If not, I'd invite an over/under prop bet on bonuses.

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Capitol_Idea
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Re: Bonus Speculation

Postby Capitol_Idea » Thu Oct 26, 2017 11:43 am

SmokeytheBear wrote:
jd20132013 wrote:
jbagelboy wrote:bonuses are not moving. let's not fucking kid ourselves


Is gamgling prohibited on TLS? If not, I'd invite an over/under prop bet on bonuses.

You can gamgle to your heart's content

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SmokeytheBear
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Re: Bonus Speculation

Postby SmokeytheBear » Thu Oct 26, 2017 1:05 pm

Capitol_Idea wrote:
SmokeytheBear wrote:
jd20132013 wrote:
jbagelboy wrote:bonuses are not moving. let's not fucking kid ourselves


Is gamgling prohibited on TLS? If not, I'd invite an over/under prop bet on bonuses.

You can gamgle to your heart's content


SOMEBODY MAKE ME AN OFFER THIS IS THE BEST NEWS OF THE DAY

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rpupkin
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Re: Bonus Speculation

Postby rpupkin » Thu Oct 26, 2017 1:12 pm

SmokeytheBear wrote:
Capitol_Idea wrote:
SmokeytheBear wrote:
jd20132013 wrote:
jbagelboy wrote:bonuses are not moving. let's not fucking kid ourselves


Is gamgling prohibited on TLS? If not, I'd invite an over/under prop bet on bonuses.

You can gamgle to your heart's content


SOMEBODY MAKE ME AN OFFER THIS IS THE BEST NEWS OF THE DAY

I would but I have a serious gamgling problem and am trying to stop. Sorry.

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SmokeytheBear
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Re: Bonus Speculation

Postby SmokeytheBear » Thu Oct 26, 2017 1:14 pm

rpupkin wrote:
SmokeytheBear wrote:
Capitol_Idea wrote:
SmokeytheBear wrote:
jd20132013 wrote:
jbagelboy wrote:bonuses are not moving. let's not fucking kid ourselves


Is gamgling prohibited on TLS? If not, I'd invite an over/under prop bet on bonuses.

You can gamgle to your heart's content


SOMEBODY MAKE ME AN OFFER THIS IS THE BEST NEWS OF THE DAY

I would but I have a serious gamgling problem and am trying to stop. Sorry.


One little over under bet can't hurt.

(I go through at least six scratch off tickets just to get through the day)

v5junior
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Re: Bonus Speculation

Postby v5junior » Thu Oct 26, 2017 2:36 pm

Anonymous User wrote:Not in New York.

I guess Skadden is more prestigious nationally in the same way Macy's is more prestigious than Barneys or Bergdorf Goodman. Most people in SoCal, the Midwest, Texas, etc. have never been in a Barneys or Bergdorf, much like lawyers in those regions probably only intermittently interact with S&C/DPW lawyers, so they'd identify Macy's as more "prestigious" in a survey than the brand they're unfamiliar with. Skadden is like Macy's.


Can't slice and dice the sample size, bro. Skadden is more prestigious in that the definition of prestigious is not limited to prestige in New York. So, you know, just plain more prestigious.

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Monochromatic Oeuvre
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Re: Bonus Speculation

Postby Monochromatic Oeuvre » Thu Oct 26, 2017 3:46 pm

SmokeytheBear wrote:
jd20132013 wrote:
jbagelboy wrote:bonuses are not moving. let's not fucking kid ourselves


Is gamgling prohibited on TLS? If not, I'd invite an over/under prop bet on bonuses.


I'm declaring lines open at -300 for stagnation, +200 for a weighted net increase, and +5000 for a weighted net decrease.

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Thu Oct 26, 2017 3:51 pm

SmokeytheBear wrote:
And yes, Skadden is like the Beats By Dre of law firms.


As a Skadden bro, can objectively confirm. But in the same nonjudgmental way that I'd be cool with Beats by Dre as long as they're cutting me 200 g's of checks a year.

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SmokeytheBear
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Re: Bonus Speculation

Postby SmokeytheBear » Thu Oct 26, 2017 4:13 pm

Monochromatic Oeuvre wrote:
SmokeytheBear wrote:
jd20132013 wrote:
jbagelboy wrote:bonuses are not moving. let's not fucking kid ourselves


Is gamgling prohibited on TLS? If not, I'd invite an over/under prop bet on bonuses.


I'm declaring lines open at -300 for stagnation, +200 for a weighted net increase, and +5000 for a weighted net decrease.


You're that certain that they won't increase bonuses?

I'll take $200 on increase.

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jkpolk
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Re: Bonus Speculation

Postby jkpolk » Thu Oct 26, 2017 5:16 pm

SmokeytheBear wrote:
Monochromatic Oeuvre wrote:
SmokeytheBear wrote:
jd20132013 wrote:
jbagelboy wrote:bonuses are not moving. let's not fucking kid ourselves


Is gamgling prohibited on TLS? If not, I'd invite an over/under prop bet on bonuses.


I'm declaring lines open at -300 for stagnation, +200 for a weighted net increase, and +5000 for a weighted net decrease.


You're that certain that they won't increase bonuses?

I'll take $200 on increase.


Def down to hedge my bonus INCREASE by betting on stagnation.

Anonymous User
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Re: Bonus Speculation

Postby Anonymous User » Fri Oct 27, 2017 12:12 am

...

BigZuck
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Re: Bonus Speculation

Postby BigZuck » Fri Oct 27, 2017 12:29 pm

Anonymous User wrote:...

This is exactly what I was trying to convey but I couldn't quite find the words. Couldn't have put it better myself. Thanks Anon!

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SmokeytheBear
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Re: Bonus Speculation

Postby SmokeytheBear » Fri Oct 27, 2017 12:31 pm

Can we please speculate about bonuses or gamgle more? I'm slightly hungover and this will make me feel better.

anonnymouse
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Re: Bonus Speculation

Postby anonnymouse » Fri Oct 27, 2017 5:47 pm

I'll throw my hat into the stagnant ring.

If I thought MO's bookmaking offers were sincere, I'd throw $3750 on stagnant. Assuming we're doing this on a cash/unreported basis, I would expect the $1250 to be a perfect hedge on a post-tax basis.

Edit: scratch that, I think $2500 would be a perfect hedge.




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