Milbank/Davis Polk/Cravath Scale: NYC to 215-415k Forum

[Anonymous User]

DPW is out here cleverly waiting for Russia to invade Ukraine so it has geopolitical instability as an excuse to not re-raise.

This, but for the 50 bp fed hike in March

Priced in already, no?

Its been priced in for weeks. I bought a house in early January and it was priced in.

This isn't true - the expectations were for a 25 bps hike until the 7.5% CPI print. See the graphs at: https://www.cmegroup.com/trading/intere ... -fomc.html

[Anonymous User]

Everyone bragging about getting paid higher than top firms right now are going to be pretty upset if there is a re-raise and their firm doesn’t re-match

Hot (incorrect) take.

[Anonymous User]

We are so deep into unprecedented territory at this point that I'm not even sure what to think anymore. If this deafening silence from firms reaffirms anything, it's that partners could not care less about associate comp and will do anything in their power to avoid paying even a smidgeon more than they need to.

Exactly. This is why I don't give a shit about my bonus. I say yes to things when I feel like it and I say no to a lot. I try and bill around 1600-1700 hours so I can have some semblance of work life balance before I quit in a year or two and do something else.

[Anonymous User]

Everyone bragging about getting paid higher than top firms right now are going to be pretty upset if there is a re-raise and their firm doesn’t re-match

The irony of suggesting firms that have matched won't match while being at a firm that hasn't matched.

I got into a V10 firm there is a 0% chance they aren’t going to match they are just waiting for the market to settle. But I don’t think that because other firms matched already is a guarantee that they will match again if there is a re-raise. It may make it likely, then again if they also suspected there would be a re-raise they might have chose to wait.

[Anonymous User]

I got into a V10 firm there is a 0% chance they aren’t going to match

The coping from V10 associates clutching to their prestige as they get out-earned by Cadwalader chads.

[Anonymous User]

At this point, it seems to me that DPW is just waiting for another v10 to blink so that it has cover to merely match Milbank without a reraise.

[Anonymous User]

I got into a V10 firm there is a 0% chance they aren’t going to match

The coping from V10 associates clutching to their prestige as they get out-earned by Cadwalader chads.

lol chadwalader

[Anonymous User]

At this point, it seems to me that DPW is just waiting for another v10 to blink so that it has cover to merely match Milbank without a reraise.

This feels right to me.

[TigerIsBack]

At this point, it seems to me that DPW is just waiting for another v10 to blink so that it has cover to merely match Milbank without a reraise.

This feels right to me.

In which case, Milbank to v2 as the real compensation leader.

[bigboybob]

ChadLOBSTER

[Anonymous User]

Everyone bragging about getting paid higher than top firms right now are going to be pretty upset if there is a re-raise and their firm doesn’t re-match

The irony of suggesting firms that have matched won't match while being at a firm that hasn't matched.

I got into a V10 firm there is a 0% chance they aren’t going to match they are just waiting for the market to settle. But I don’t think that because other firms matched already is a guarantee that they will match again if there is a re-raise. It may make it likely, then again if they also suspected there would be a re-raise they might have chose to wait.

I'm tired of hearing this. We're coming on a month since Milbank raised. If every firm keeps looking at every other firm and thinks "uh, yeah, we'll match, we're just waiting for 'the market' to settle" then nothing is ever going to happen. News fucking flash: every firm in the V10 is "the market." Act like it.

I a,so echo the sentiment of someone else up-thread who said this is Exhibit 55 for "partners barely remember associates exist." You can bet your ass that if partners' year-end equity pay-out were suddenly left up in the air for a month they'd be bitching and moaning two ways to Sunday but when it comes to associate compensation it's nbd--"they'll match eventually."

[Anonymous User]

Any reason to think this Monday is different from previous Mondays? (w/r/t Cravath partner meetings...)

Also, I would love to see AboveTheLaw earn its keep and actually do some shoe-leather journalism on this topic — perhaps getting some partners to speak off the record about what is going on here; or at a minimum forcing the big firms to stick their tails between their legs with a "no comment." Just feels that ATL had much better coverage and better sources in the David Lat era, ~10 years ago.

[Anonymous User]

ATL is too woke now

[Anonymous User]

Any reason to think this Monday is different from previous Mondays? (w/r/t Cravath partner meetings...)

Also, I would love to see AboveTheLaw earn its keep and actually do some shoe-leather journalism on this topic — perhaps getting some partners to speak off the record about what is going on here; or at a minimum forcing the big firms to stick their tails between their legs with a "no comment." Just feels that ATL had much better coverage and better sources in the David Lat era, ~10 years ago.

This is wayyyyyy too much to expect out of a clickbait site run by like four people.

[Anonymous User]

lol ATL is legit garbage. NEP and BLB are better sources for law news.

[Anonymous User]

Any reason to think this Monday is different from previous Mondays? (w/r/t Cravath partner meetings...)

Also, I would love to see AboveTheLaw earn its keep and actually do some shoe-leather journalism on this topic — perhaps getting some partners to speak off the record about what is going on here; or at a minimum forcing the big firms to stick their tails between their legs with a "no comment." Just feels that ATL had much better coverage and better sources in the David Lat era, ~10 years ago.

ATL is a total disaster now. They do almost 0 "reporting" or fact-gathering of the sort you're describing. All their coverage falls into two buckets: (1) acting as a mouthpiece for law firm PR departments; (2) random stream-of-consciousness reaction pieces from the "authors" they have left there. Oh, I forgot the smattering of sponsored posts from advertisers, there's that too.

The best real reporting I've seen comes either from Bloomberg Law or from law.com. There have been some great pieces from them. But they both have a very buttoned up feeling; I agree we're missing someone like David Lat who could call up a bunch of partner contacts and just ask them for the scoop. I miss that style of reporting.

[bigboybob]

ATL, Above the Lobster.

[nealric]

Any reason to think this Monday is different from previous Mondays? (w/r/t Cravath partner meetings...)

Also, I would love to see AboveTheLaw earn its keep and actually do some shoe-leather journalism on this topic — perhaps getting some partners to speak off the record about what is going on here; or at a minimum forcing the big firms to stick their tails between their legs with a "no comment." Just feels that ATL had much better coverage and better sources in the David Lat era, ~10 years ago.

ATL is a total disaster now. They do almost 0 "reporting" or fact-gathering of the sort you're describing. All their coverage falls into two buckets: (1) acting as a mouthpiece for law firm PR departments; (2) random stream-of-consciousness reaction pieces from the "authors" they have left there. Oh, I forgot the smattering of sponsored posts from advertisers, there's that too.

The best real reporting I've seen comes either from Bloomberg Law or from law.com. There have been some great pieces from them. But they both have a very buttoned up feeling; I agree we're missing someone like David Lat who could call up a bunch of partner contacts and just ask them for the scoop. I miss that style of reporting.

ATL is a shell of what it was back in the day when David Lat was running it directly and there were comments enabled. Firms used to genuinely worry that things they said in associate meetings or summer associate snafus would end up on ATL. Heck, found out I passed the bar from the ATL comments section when results were leaked. Nothing like that would happen today.

[Definitely Not North]

lol ATL is legit garbage. NEP and BLB are better sources for law news.

What are these? Would love an ATL alternative

[Anonymous User]

Any reason to think this Monday is different from previous Mondays? (w/r/t Cravath partner meetings...)

Also, I would love to see AboveTheLaw earn its keep and actually do some shoe-leather journalism on this topic — perhaps getting some partners to speak off the record about what is going on here; or at a minimum forcing the big firms to stick their tails between their legs with a "no comment." Just feels that ATL had much better coverage and better sources in the David Lat era, ~10 years ago.

ATL is a total disaster now. They do almost 0 "reporting" or fact-gathering of the sort you're describing. All their coverage falls into two buckets: (1) acting as a mouthpiece for law firm PR departments; (2) random stream-of-consciousness reaction pieces from the "authors" they have left there. Oh, I forgot the smattering of sponsored posts from advertisers, there's that too.

The best real reporting I've seen comes either from Bloomberg Law or from law.com. There have been some great pieces from them. But they both have a very buttoned up feeling; I agree we're missing someone like David Lat who could call up a bunch of partner contacts and just ask them for the scoop. I miss that style of reporting.

ATL is a shell of what it was back in the day when David Lat was running it directly and there were comments enabled. Firms used to genuinely worry that things they said in associate meetings or summer associate snafus would end up on ATL. Heck, found out I passed the bar from the ATL comments section when results were leaked. Nothing like that would happen today.

What happened to David Lat, anyway?

[1biglawandme]

Any reason to think this Monday is different from previous Mondays? (w/r/t Cravath partner meetings...)

Also, I would love to see AboveTheLaw earn its keep and actually do some shoe-leather journalism on this topic — perhaps getting some partners to speak off the record about what is going on here; or at a minimum forcing the big firms to stick their tails between their legs with a "no comment." Just feels that ATL had much better coverage and better sources in the David Lat era, ~10 years ago.

ATL is a total disaster now. They do almost 0 "reporting" or fact-gathering of the sort you're describing. All their coverage falls into two buckets: (1) acting as a mouthpiece for law firm PR departments; (2) random stream-of-consciousness reaction pieces from the "authors" they have left there. Oh, I forgot the smattering of sponsored posts from advertisers, there's that too.

The best real reporting I've seen comes either from Bloomberg Law or from law.com. There have been some great pieces from them. But they both have a very buttoned up feeling; I agree we're missing someone like David Lat who could call up a bunch of partner contacts and just ask them for the scoop. I miss that style of reporting.

I've seen some good reporting in Insider, too.

[Anonymous User]

lol ATL is legit garbage. NEP and BLB are better sources for law news.

What are these? Would love an ATL alternative

Instagram meme accounts that actually still post news. Both recently left big law i believe, but are still connected.

[Anonymous User]

ATL is too woke now

This was a refreshing comment. I’m still a law student and I’ve been wondering how woke big law has become. Nice to see some lawyers are anti-woke.

[Anonymous User]

Any reason to think this Monday is different from previous Mondays? (w/r/t Cravath partner meetings...)

Also, I would love to see AboveTheLaw earn its keep and actually do some shoe-leather journalism on this topic — perhaps getting some partners to speak off the record about what is going on here; or at a minimum forcing the big firms to stick their tails between their legs with a "no comment." Just feels that ATL had much better coverage and better sources in the David Lat era, ~10 years ago.

ATL is a total disaster now. They do almost 0 "reporting" or fact-gathering of the sort you're describing. All their coverage falls into two buckets: (1) acting as a mouthpiece for law firm PR departments; (2) random stream-of-consciousness reaction pieces from the "authors" they have left there. Oh, I forgot the smattering of sponsored posts from advertisers, there's that too.

The best real reporting I've seen comes either from Bloomberg Law or from law.com. There have been some great pieces from them. But they both have a very buttoned up feeling; I agree we're missing someone like David Lat who could call up a bunch of partner contacts and just ask them for the scoop. I miss that style of reporting.

ATL is a shell of what it was back in the day when David Lat was running it directly and there were comments enabled. Firms used to genuinely worry that things they said in associate meetings or summer associate snafus would end up on ATL. Heck, found out I passed the bar from the ATL comments section when results were leaked. Nothing like that would happen today.

What happened to David Lat, anyway?

I think he sold it and moved on. Currently has a substack but not sure it's his only gig. Also he nearly died from covid so might not be physically able to maintain a heavy schedule.

[Anonymous User]

ATL is too woke now

This was a refreshing comment. I’m still a law student and I’ve been wondering how woke big law has become. Nice to see some lawyers are anti-woke.

SJWs are annoying but I'll take them over FedSoccers every day of the week.