Bonus Rollout (alternate title: law is boned)

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Rocketman11
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Bonus Rollout (alternate title: law is boned)

Postby Rocketman11 » Mon Nov 02, 2009 3:53 pm

Cravath bonuses this year:

Class of 2008 — $7,500
Class of 2007 — $10,000
Class of 2006 — $15,000
Class of 2005 — $20,000
Class of 2004 — $25,000
Class of 2003 — $30,000
Class of 2002 — $30,000


Cravath 2007 bonuses:

Class of 2007: Year-end bonus 35K, no special bonus
Class of 2006: Year end 35K, special 10K
Class of 2005: Year end 40K, special 15K
Class of 2004: Year end 45K, special 20K
Class of 2003: Year end 50K, special 30K
Class of 2002: Year end 55K, special 40K
Class of 2001: Year end 60K, special 50K
Class of 2000: same as 2001


http://blogs.wsj.com/law/2009/11/02/tis ... us-period/
Last edited by Rocketman11 on Mon Nov 02, 2009 4:08 pm, edited 2 times in total.

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redsox
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Re: Bonus Rollout (alternate title: law is boned)

Postby redsox » Mon Nov 02, 2009 3:58 pm

I think the second set of numbers you posted is from two years ago, not last year.

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Rocketman11
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Re: Bonus Rollout (alternate title: law is boned)

Postby Rocketman11 » Mon Nov 02, 2009 4:01 pm

redsox wrote:I think the second set of numbers you posted is from two years ago, not last year.


Ah thanks, fixt

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IAFG
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Re: Bonus Rollout (alternate title: law is boned)

Postby IAFG » Mon Nov 02, 2009 4:07 pm

cravAth

Oban
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Re: Bonus Rollout (alternate title: law is boned)

Postby Oban » Mon Nov 02, 2009 4:08 pm

Seems like it's CravaTTTh ITE. : :P

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Rocketman11
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Re: Bonus Rollout (alternate title: law is boned)

Postby Rocketman11 » Mon Nov 02, 2009 4:09 pm

IAFarmgirlinDC wrote:cravAth

:evil:

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bluejayk
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Re: Bonus Rollout (alternate title: law is boned)

Postby bluejayk » Mon Nov 02, 2009 4:13 pm

An effective drop in salary of 20-30% for even lawyers at the most successful firms shouldn't matter if you really love the law.

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IAFG
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Re: Bonus Rollout (alternate title: law is boned)

Postby IAFG » Mon Nov 02, 2009 4:14 pm

bluejayk wrote:An effective drop in salary of 20-30% for even lawyers at the most successful firms shouldn't matter if you still have a job.

ftfy

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Rocketman11
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Re: Bonus Rollout (alternate title: law is boned)

Postby Rocketman11 » Mon Nov 02, 2009 4:15 pm

IAFarmgirlinDC wrote:
bluejayk wrote:An effective drop in salary of 20-30% for even lawyers at the most successful firms shouldn't matter if you still have a job.

ftfy


who hides their online status, yet has a self tar?

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IAFG
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Re: Bonus Rollout (alternate title: law is boned)

Postby IAFG » Mon Nov 02, 2009 4:20 pm

u happy?

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Rocketman11
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Re: Bonus Rollout (alternate title: law is boned)

Postby Rocketman11 » Mon Nov 02, 2009 4:30 pm

IAFarmgirlinDC wrote:u happy?

pathetic excuse to fit in with the tiger tar clubhouse.

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IAFG
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Re: Bonus Rollout (alternate title: law is boned)

Postby IAFG » Mon Nov 02, 2009 4:50 pm

can you focus in your OWN THREAD?

big law firms pay generous base salary. it only makes sense that in lean times, bonuses shrink. comparing lean times to fat times only shows that big law firms are feeling the pinch like everyone else, which in the case of cravath was evident when they deferred associates and scaled back hiring.

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bilbobaggins
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Re: Bonus Rollout (alternate title: law is boned)

Postby bilbobaggins » Mon Nov 02, 2009 5:00 pm

Shit, looks like it'll be the standard E320 instead of the AMG. Sucks for lawyers. :roll:

Leeroy Jenkins
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Re: Bonus Rollout (alternate title: law is boned)

Postby Leeroy Jenkins » Mon Nov 02, 2009 5:03 pm

IAFarmgirlinDC wrote:can you focus in your OWN THREAD?

big law firms pay generous base salary. it only makes sense that in lean times, bonuses shrink. comparing lean times to fat times only shows that big law firms are feeling the pinch like everyone else, which in the case of cravath was evident when they deferred associates and scaled back hiring.

NO when the lean times come the support staff should be laid off to support my phat boni.

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James Bond
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Re: Bonus Rollout (alternate title: law is boned)

Postby James Bond » Mon Nov 02, 2009 5:09 pm

OMFG BIG LAWWWWWWWWWWWWW

...nope...don't give a shit that the overpaid are less paid

GatorBait09
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Re: Bonus Rollout (alternate title: law is boned)

Postby GatorBait09 » Mon Nov 02, 2009 5:09 pm

bilbobaggins wrote:Shit, looks like it'll be the standard E320 instead of the AMG. Sucks for lawyers. :roll:


If you're working for Cravath you better not even be considering an E-Class ($50k). S, SL, CL, and CLS is what you should be reasonably aiming for...all AMGs if you're a real man.

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James Bond
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Re: Bonus Rollout (alternate title: law is boned)

Postby James Bond » Mon Nov 02, 2009 5:10 pm

GatorBait09 wrote:all AMGs if you're a real man.


QFT :mrgreen:

Likewise, you should be getting M's if you're a BMW guy and S's if you're an Audi person

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nealric
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Re: Bonus Rollout (alternate title: law is boned)

Postby nealric » Mon Nov 02, 2009 5:54 pm

Shit, looks like it'll be the standard E320 instead of the AMG. Sucks for lawyers. :roll:


Lol at the idea that Cravath associates are rollin in benzos (at least the junior ones). That 160k becomes about 90k post tax - 30k student loan payments = 60k after tax income. Not starving, but not benzo money (unless you are overextending yourself). With job security as it is, you would be a fool to make any big purchases.
Last edited by nealric on Mon Nov 02, 2009 6:11 pm, edited 1 time in total.

GatorBait09
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Re: Bonus Rollout (alternate title: law is boned)

Postby GatorBait09 » Mon Nov 02, 2009 5:59 pm

nealric wrote:
Shit, looks like it'll be the standard E320 instead of the AMG. Sucks for lawyers. :roll: [/qupte]

Lol at the idea that Cravath associates are rollin in benzos (at least the junior ones). That 160k becomes about 90k post tax - 30k student loan payments = 60k after tax income. Not starving, but not benzo money (unless you are overextending yourself). With job security as it is, you would be a fool to make any big purchases.


Or they could be leasing the car, which in that price range, is always a better idea than buying (at least IMO).

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mochafury
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Re: Bonus Rollout (alternate title: law is boned)

Postby mochafury » Mon Nov 02, 2009 6:05 pm

No new hire in NYCBigLaw gets a car anyway...who wants to pay for parking and the resulting psych sessions from not being able to find parking?

Oblomov
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Re: Bonus Rollout (alternate title: law is boned)

Postby Oblomov » Mon Nov 02, 2009 9:53 pm

GatorBait09 wrote:Or they could be leasing the car, which in that price range, is always a better idea than buying (at least IMO).


Almost always worse, unless you happen to win in betting against the residual value.

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MC Southstar
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Re: Bonus Rollout (alternate title: law is boned)

Postby MC Southstar » Mon Nov 02, 2009 9:55 pm

...
Last edited by MC Southstar on Sat Feb 06, 2010 1:03 am, edited 1 time in total.

Leeroy Jenkins
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Re: Bonus Rollout (alternate title: law is boned)

Postby Leeroy Jenkins » Mon Nov 02, 2009 9:58 pm

shadowfrost000 wrote:My bonus this year: $5000, whee. >_>

ooo i got $5000 bonus last year too!

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MC Southstar
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Re: Bonus Rollout (alternate title: law is boned)

Postby MC Southstar » Mon Nov 02, 2009 9:59 pm

...
Last edited by MC Southstar on Sat Feb 06, 2010 1:03 am, edited 1 time in total.

Leeroy Jenkins
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Re: Bonus Rollout (alternate title: law is boned)

Postby Leeroy Jenkins » Mon Nov 02, 2009 10:03 pm

shadowfrost000 wrote:I'm saving it up for (hopefully) a month long European backpacking trip.

I paid off my loans. :|




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