Bonus Rollout (alternate title: law is boned) Forum

[Rocketman11]

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/

[redsox]

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

[Rocketman11]

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

Ah thanks, fixt

[IAFG]

cravAth

[Oban]

Seems like it's CravaTTTh ITE. :

[Rocketman11]

cravAth

[bluejayk]

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.

[IAFG]

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

[Rocketman11]

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?

[IAFG]

u happy?

[Rocketman11]

u happy?

pathetic excuse to fit in with the tiger tar clubhouse.

[IAFG]

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.

[bilbobaggins]

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

[Leeroy Jenkins]

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.

[James Bond]

OMFG BIG LAWWWWWWWWWWWWW

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

[GatorBait09]

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

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.

[James Bond]

all AMGs if you're a real man.

QFT

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

[nealric]

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

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.

[GatorBait09]

Shit, looks like it'll be the standard E320 instead of the AMG. Sucks for lawyers. [/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).

[mochafury]

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]

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.

[MC Southstar]

...

[Leeroy Jenkins]

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

ooo i got $5000 bonus last year too!

[MC Southstar]

...

[Leeroy Jenkins]

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

I paid off my loans.