2021 End of Year Bonuses Forum

[clone22]

Seeming less likely that something comes today. What is everyone waiting on, this bonuses are going to be payable soon!

Clearly, some law firms feel like they are overstaffed right now, and wouldn't mind a bit of attrition in early 2022.

Honestly, this kind of bullshit (along with having a deal signing at 4am Thanksgiving morning) is why non-biglaw gigs are starting to look more and more appealing by the minute.

[Anonymous User]

Seeming less likely that something comes today. What is everyone waiting on, this bonuses are going to be payable soon!

I assume a lot of the hold outs are compensation committees that cancelled for Thanksgiving week or meet on Thursday/Friday. Cravath announced on Monday before Thanksgiving so makes sense a lot of compensation committees would be delayed in confirming. My guess is some slow trickles over the next two days and a large slew of announcements on Thursday.

[Anonymous User]

Setting aside whether/who will bump the scale, I am surprised we are not seeing a flurry of Cravath matches today.

If you were a partner strategizing to prevent the scale from going higher, you’d think a bunch of quick matches would give the current Cravath scale more momentum and inevitability.

[Anonymous User]

Someone who knows antitrust better than me should explain why this article isn’t directly applicable to this delay in announcing bonuses by BOTH (1) market movers and (2) market followers, when a traditional “market leader” has already announced their “price”.

https://socialsci.libretexts.org/Booksh ... ame_Theory

[Anonymous User]

Dear law firm,

I wrote you but you still ain't written
I left my cell, my email, and my home phone at the bottom
I sent two emails back to back, you must not have got em
There probably was a problem with the firm servers or something
Sometimes I click send too sloppy when I finish

But anyway, fuck it, what's been up firm, where's my bonus?
My years been busy too, I'm bout to be a burnout
If I do a burnout, guess what I'm gonna call it
I'mma call it exhaustion

I read about your record profits too, I'm worried
I had a friend quit his firm over not getting a better bonus
I know you probably hear this every day, but I'm your biggest fan
And I would be an even bigger one if you blow out Cravath's scam
I saw a post full of their bonus figures, screenshots man
It's pitiful that they raised so little, man that shit was sad

Anyways, I hope you get this firm, raise their cap
just to flex,
truly yours, your biggest fan, associate

Dear firm,

You still ain't send a memo, I hope you have a chance
I ain't mad, I just think you're ruining my Chrismas plans
If you don't wanna raise higher than Cravath, you don't have to
But you could've sent a memo by this afternoon

It's the end of november man, it's getting really close
We're waiting in a long ass thread for you, forty pages, it's like you're saying no
That's pretty shitty partner, you're law students' fucking idol
They want to be just like you man, you more money than I do
I ain't that mad though, I just don't like being lied to
Remember what you said in the townhall
You said if we have questions, we should write you

See i'm just like you in a way, i never turn down money neither
I use to dream about dollars and... dollars
I can relate to what you're saying in town halls
About having a busy day, I work away and work so long
Cause I can't really do shit else
And that shit makes me more depressed

I sometimes get a break when I post on T-L-S
Sometimes I even hit F5 until my fingers bleed
Its like an addiction, the bonus is such a sudden rush for me
See, everything about raises is good, and I respect the firms that do them
Other firms would be jealous and talk about you 24/7
But they don't do that firm like they do about Cravath
Because you haven't raised the ceiling by going way above
You gotta raise it firm, i'll be the happiest associate you'll ever pay

Sincerely yours, associate
p.s. you should post the memo now

[Anonymous User]

Dear law firm,

I wrote you but you still ain't written
I left my cell, my email, and my home phone at the bottom
I sent two emails back to back, you must not have got em
There probably was a problem with the firm servers or something
Sometimes I click send too sloppy when I finish

But anyway, fuck it, what's been up firm, where's my bonus?
My years been busy too, I'm bout to be a burnout
If I do a burnout, guess what I'm gonna call it
I'mma call it exhaustion

I read about your record profits too, I'm worried
I had a friend quit his firm over not getting a better bonus
I know you probably hear this every day, but I'm your biggest fan
And I would be an even bigger one if you blow out Cravath's scam
I saw a post full of their bonus figures, screenshots man
It's pitiful that they raised so little, man that shit was sad

Anyways, I hope you get this firm, raise their cap
just to flex,
truly yours, your biggest fan, associate

Dear firm,

You still ain't send a memo, I hope you have a chance
I ain't mad, I just think you're ruining my Chrismas plans
If you don't wanna raise higher than Cravath, you don't have to
But you could've sent a memo by this afternoon

It's the end of november man, it's getting really close
We're waiting in a long ass thread for you, forty pages, it's like you're saying no
That's pretty shitty partner, you're law students' fucking idol
They want to be just like you man, you more money than I do
I ain't that mad though, I just don't like being lied to
Remember what you said in the townhall
You said if we have questions, we should write you

See i'm just like you in a way, i never turn down money neither
I use to dream about dollars and... dollars
I can relate to what you're saying in town halls
About having a busy day, I work away and work so long
Cause I can't really do shit else
And that shit makes me more depressed

I sometimes get a break when I post on T-L-S
Sometimes I even hit F5 until my fingers bleed
Its like an addiction, the bonus is such a sudden rush for me
See, everything about raises is good, and I respect the firms that do them
Other firms would be jealous and talk about you 24/7
But they don't do that firm like they do about Cravath
Because you haven't raised the ceiling by going way above
You gotta raise it firm, i'll be the happiest associate you'll ever pay

Sincerely yours, associate
p.s. you should post the memo now

My dollar tea’s gone cold while I’m wondering why my, bonus news hasn’t hit inbox at all, the morning rainclouds up my window, and I can’t see money at all, even if I could it’ll all be Cravath, with 5-15k raises on my wall, that reminds me inflation is so bad, so so bad…

[Anonymous User]

Dear law firm,

I wrote you but you still ain't written
I left my cell, my email, and my home phone at the bottom
I sent two emails back to back, you must not have got em
There probably was a problem with the firm servers or something
Sometimes I click send too sloppy when I finish

But anyway, fuck it, what's been up firm, where's my bonus?
My years been busy too, I'm bout to be a burnout
If I do a burnout, guess what I'm gonna call it
I'mma call it exhaustion

I read about your record profits too, I'm worried
I had a friend quit his firm over not getting a better bonus
I know you probably hear this every day, but I'm your biggest fan
And I would be an even bigger one if you blow out Cravath's scam
I saw a post full of their bonus figures, screenshots man
It's pitiful that they raised so little, man that shit was sad

Anyways, I hope you get this firm, raise their cap
just to flex,
truly yours, your biggest fan, associate

Dear firm,

You still ain't send a memo, I hope you have a chance
I ain't mad, I just think you're ruining my Chrismas plans
If you don't wanna raise higher than Cravath, you don't have to
But you could've sent a memo by this afternoon

It's the end of november man, it's getting really close
We're waiting in a long ass thread for you, forty pages, it's like you're saying no
That's pretty shitty partner, you're law students' fucking idol
They want to be just like you man, you more money than I do
I ain't that mad though, I just don't like being lied to
Remember what you said in the townhall
You said if we have questions, we should write you

See i'm just like you in a way, i never turn down money neither
I use to dream about dollars and... dollars
I can relate to what you're saying in town halls
About having a busy day, I work away and work so long
Cause I can't really do shit else
And that shit makes me more depressed

I sometimes get a break when I post on T-L-S
Sometimes I even hit F5 until my fingers bleed
Its like an addiction, the bonus is such a sudden rush for me
See, everything about raises is good, and I respect the firms that do them
Other firms would be jealous and talk about you 24/7
But they don't do that firm like they do about Cravath
Because you haven't raised the ceiling by going way above
You gotta raise it firm, i'll be the happiest associate you'll ever pay

Sincerely yours, associate
p.s. you should post the memo now

Bravo

[Anonymous User]

when do the DPW and Milbank comp committees meet?

[Anonymous User]

No matches today? Firms are definitely hesitant to make a move before the market makers. The Baker, Cravath scales of the world are not newsworthy.

[MillllerTime]

At this point, the longer the silence the better. Milbank accountants are FURIOUSLY loading up the cannon with more and MOAR cash with each second that goes by.

[Anonymous User]

*Milbank firm committee dropping bomb into market*

“To begin with, we do not believe that the year-end compensation scale announced by our so-called peer, Cravath, Swaine & Moore, does nearly enough to recognize the industry and dedication of the attorneys of our firm during this challenging time ….”

[Anonymous User]

At this point could we be waiting until December 6th? That seems super late to announce bonuses.

[Anonymous User]

If I recall correctly, Milbank's partners meet on Thursdays. In the past, they've had pre-approval to match bonuses/raises and have acted quickly. That they didn't do so this time leads me to believe they're planning to discuss an increase rather than just match.

[Anonymous User]

The fact that very few firms have announced matches is a good sign.... right?

[Anonymous User]

The fact that very few firms have announced matches is a good sign.... right?

Yes it's a very good sign. It's obviously indicative that firms are planning on surpassing the scale. The only thing we have to be watchful for is some game theory fuckery where things get screwed up because they're all waiting for the other to announce first lol

[Anonymous User]

Someone who knows antitrust better than me should explain why this article isn’t directly applicable to this delay in announcing bonuses by BOTH (1) market movers and (2) market followers, when a traditional “market leader” has already announced their “price”.

https://socialsci.libretexts.org/Booksh ... ame_Theory

Bump given the comment above

[mr_toad]

Long-time lurker around bonus season here... is anyone else getting signed out of TLS more quickly than used to be the case? If you know a workaround to help prevent being logged out 100x a day, please PM me and let me know!

[Anonymous User]

Someone who knows antitrust better than me should explain why this article isn’t directly applicable to this delay in announcing bonuses by BOTH (1) market movers and (2) market followers, when a traditional “market leader” has already announced their “price”.

https://socialsci.libretexts.org/Booksh ... ame_Theory

Bump given the comment above

I don't know shit about shit (even though my undergrad specialization was in game theory),

but without clicking this link at all, my thought is maybe CSM isn't seen as a market leader in comp anymore?

[Ultramar vistas]

Someone who knows antitrust better than me should explain why this article isn’t directly applicable to this delay in announcing bonuses by BOTH (1) market movers and (2) market followers, when a traditional “market leader” has already announced their “price”.

https://socialsci.libretexts.org/Booksh ... ame_Theory

Bump given the comment above

I don't know shit about shit (even though my undergrad specialization was in game theory),

but without clicking this link at all, my thought is maybe CSM isn't seen as a market leader in comp anymore?

Cravattth, all joking aside, hasn’t been much of a market leader at all, lately.

[Anonymous User]

Someone who knows antitrust better than me should explain why this article isn’t directly applicable to this delay in announcing bonuses by BOTH (1) market movers and (2) market followers, when a traditional “market leader” has already announced their “price”.

https://socialsci.libretexts.org/Booksh ... ame_Theory

Bump given the comment above

I don't know shit about shit (even though my undergrad specialization was in game theory),

but without clicking this link at all, my thought is maybe CSM isn't seen as a market leader in comp anymore?

Cravattth, all joking aside, hasn’t been much of a market leader at all, lately.

ATL has heard our cries: https://abovethelaw.com/2021/11/cravath ... e-bonuses/

[TigerIsBack]

Someone who knows antitrust better than me should explain why this article isn’t directly applicable to this delay in announcing bonuses by BOTH (1) market movers and (2) market followers, when a traditional “market leader” has already announced their “price”.

https://socialsci.libretexts.org/Booksh ... ame_Theory

Bump given the comment above

I don't know shit about shit (even though my undergrad specialization was in game theory),

but without clicking this link at all, my thought is maybe CSM isn't seen as a market leader in comp anymore?

Cravattth, all joking aside, hasn’t been much of a market leader at all, lately.

ATL has heard our cries: https://abovethelaw.com/2021/11/cravath ... e-bonuses/

I appreciate them putting the pressure on DPW, but I do not in fact want other firms to just start matching now. Everyone else needs to leave this weak CravaTTTh scale untouched and continue to signal that we fully expect Milbank or DPW to set a real scale for bonuses that everyone can then follow.

[Anonymous User]

Someone who knows antitrust better than me should explain why this article isn’t directly applicable to this delay in announcing bonuses by BOTH (1) market movers and (2) market followers, when a traditional “market leader” has already announced their “price”.

https://socialsci.libretexts.org/Booksh ... ame_Theory

Bump given the comment above

I don't know shit about shit (even though my undergrad specialization was in game theory),

but without clicking this link at all, my thought is maybe CSM isn't seen as a market leader in comp anymore?

Cravattth, all joking aside, hasn’t been much of a market leader at all, lately.

ATL has heard our cries: https://abovethelaw.com/2021/11/cravath ... e-bonuses/

I appreciate them putting the pressure on DPW, but I do not in fact want other firms to just start matching now. Everyone else needs to leave this weak CravaTTTh scale untouched and continue to signal that we fully expect Milbank or DPW to set a real scale for bonuses that everyone can then follow.

Totally agreed. And they should glorify DPW and Milbank in every article for their leadership. Huge dividends for Milbank in increased respect due to their move. HUUUUUGEEEEEE. And DPW has the chance to pass Cravath as v#1 if they really blow them out of the water. Who could vote Cravath higher if DPW says fuck you and doubles it. Nobody.

[almostperfectt]

Someone who knows antitrust better than me should explain why this article isn’t directly applicable to this delay in announcing bonuses by BOTH (1) market movers and (2) market followers, when a traditional “market leader” has already announced their “price”.

https://socialsci.libretexts.org/Booksh ... ame_Theory

Bump given the comment above

I don't know shit about shit (even though my undergrad specialization was in game theory),

but without clicking this link at all, my thought is maybe CSM isn't seen as a market leader in comp anymore?

Cravattth, all joking aside, hasn’t been much of a market leader at all, lately.

ATL has heard our cries: https://abovethelaw.com/2021/11/cravath ... e-bonuses/

I appreciate them putting the pressure on DPW, but I do not in fact want other firms to just start matching now. Everyone else needs to leave this weak CravaTTTh scale untouched and continue to signal that we fully expect Milbank or DPW to set a real scale for bonuses that everyone can then follow.

And thus introduces the conflict between media and consumers. They want bonus matches now AND bonus matches to a new scale because it's 1.5-2x as many clicks and therefore ad rev. That would not be good for their readers but they don't care about that

[acijku2]

Long-time lurker around bonus season here... is anyone else getting signed out of TLS more quickly than used to be the case? If you know a workaround to help prevent being logged out 100x a day, please PM me and let me know!

Happening to me too. Highly annoying.

[kls120]

Long-time lurker around bonus season here... is anyone else getting signed out of TLS more quickly than used to be the case? If you know a workaround to help prevent being logged out 100x a day, please PM me and let me know!

Happening to me too. Highly annoying.

Same. And what's more annoying is that every time I do log in from a thread page it directs me to the front page of the forum, not the thread page I was on. TLS has gotten unbearable lately.