NY GOES TO 180k! IT HAPPENED!!!! (CovingTTTon does a 180! Holder wept.) Forum

[anonnymouse]

Those calculators are so dumb. It doesn't include taxes, and it basically assumes you spend literally 100% of your money in Manhattan on rent and $15 paninis.

So it reflects the typical biglaw associate lifestyle?

[mvp99]

Those calculators are so dumb. It doesn't include taxes, and it basically assumes you spend literally 100% of your money in Manhattan on rent and $15 paninis.

So it reflects the typical biglaw associate lifestyle?

I'm not buying regular paninis.. why do you think I went to LS

[westphillybandr]

Bonuses are out of the way now so when does this thread become reality?

There was never gonna be a bonus increase and a salary bump. Step 1: complete.

cosigned

can lock this thread because this issue is dead

everyone go home

Big Shrimpin has spoken. This topic has been settled.

[Anonymous User]

This probably happens every year but this is the first year I've been privy to it based on seniority but I know at least 2 of the V10s have laid off associates during performance reviews. The layoffs were "performance based" but I figured it's worth mentioning in case this wasn't ordinary course. Again, I don't know if atypical or just happens every year.

[mvp99]

This probably happens every year but this is the first year I've been privy to it based on seniority but I know at least 2 of the V10s have laid off associates during performance reviews. The layoffs were "performance based" but I figured it's worth mentioning in case this wasn't ordinary course. Again, I don't know if atypical or just happens every year.

what year?

[Anonymous User]

This probably happens every year but this is the first year I've been privy to it based on seniority but I know at least 2 of the V10s have laid off associates during performance reviews. The layoffs were "performance based" but I figured it's worth mentioning in case this wasn't ordinary course. Again, I don't know if atypical or just happens every year.

what year?

I'm a 4th/5th year. Don't want to out too much but the ones I know of were junior to me

[Tiago Splitter]

This probably happens every year but this is the first year I've been privy to it based on seniority but I know at least 2 of the V10s have laid off associates during performance reviews. The layoffs were "performance based" but I figured it's worth mentioning in case this wasn't ordinary course. Again, I don't know if atypical or just happens every year.

what year?

I'm a 4th/5th year. Don't want to out too much but the ones I know of were junior to me

How much time were they given?

[El Pollito]

i believe 3 months is standard

[Desert Fox]

[ballouttacontrol]

That stuff happens every year. LEss is BOOM times and more in bust. But its always happening.

I agree with pollito, 3 months is standard. But they often give you a shit review as a warning. But a lot of people just try to work harder, instead of realizing once you get a poor review, you are a dead man walking.

Are poor reviews obvious? Like do you definitely know? Or could it kinda subtle, sound like a luke-warm review telling you to improve in certain areas..

[Desert Fox]

[Anonymous User]

That stuff happens every year. LEss is BOOM times and more in bust. But its always happening.

I agree with pollito, 3 months is standard. But they often give you a shit review as a warning. But a lot of people just try to work harder, instead of realizing once you get a poor review, you are a dead man walking.

Are poor reviews obvious? Like do you definitely know? Or could it kinda subtle, sound like a luke-warm review telling you to improve in certain areas..

I haven't gotten one, but I've heard when you get it, you know you got it. OR at least should. Lukewarm is not the warning. But people can be delusional.

That's how it is at my firm. First you get a lukewarm/bad review, then you get "the talk" at your next review and get 3-6 months to figure it out. And it is very rare to impossible to correct course after a bad review, not least because the relevant partners know what's going on and will shift work away from you. And if they really want you out they'll skip the warning review and just give you the talk. And yes, you know a poor review when you see one.

[Anonymous User]

That stuff happens every year. LEss is BOOM times and more in bust. But its always happening.

I agree with pollito, 3 months is standard. But they often give you a shit review as a warning. But a lot of people just try to work harder, instead of realizing once you get a poor review, you are a dead man walking.

Are poor reviews obvious? Like do you definitely know? Or could it kinda subtle, sound like a luke-warm review telling you to improve in certain areas..

I haven't gotten one, but I've heard when you get it, you know you got it. OR at least should. Lukewarm is not the warning. But people can be delusional.

That's how it is at my firm. First you get a lukewarm/bad review, then you get "the talk" at your next review and get 3-6 months to figure it out. And it is very rare to impossible to correct course after a bad review, not least because the relevant partners know what's going on and will shift work away from you. And if they really want you out they'll skip the warning review and just give you the talk. And yes, you know a poor review when you see one.

Is this seen around year 2?

[Anonymous User]

That stuff happens every year. LEss is BOOM times and more in bust. But its always happening.

I agree with pollito, 3 months is standard. But they often give you a shit review as a warning. But a lot of people just try to work harder, instead of realizing once you get a poor review, you are a dead man walking.

Are poor reviews obvious? Like do you definitely know? Or could it kinda subtle, sound like a luke-warm review telling you to improve in certain areas..

I haven't gotten one, but I've heard when you get it, you know you got it. OR at least should. Lukewarm is not the warning. But people can be delusional.

That's how it is at my firm. First you get a lukewarm/bad review, then you get "the talk" at your next review and get 3-6 months to figure it out. And it is very rare to impossible to correct course after a bad review, not least because the relevant partners know what's going on and will shift work away from you. And if they really want you out they'll skip the warning review and just give you the talk. And yes, you know a poor review when you see one.

Is this seen around year 2?

There are rare circumstances where an associate might get stealthed in their first year (where things really aren't working out from the get-go) but for the most part yes the culling starts around year two.

[rpupkin]

That stuff happens every year. LEss is BOOM times and more in bust. But its always happening.

I agree with pollito, 3 months is standard. But they often give you a shit review as a warning. But a lot of people just try to work harder, instead of realizing once you get a poor review, you are a dead man walking.

Are poor reviews obvious? Like do you definitely know? Or could it kinda subtle, sound like a luke-warm review telling you to improve in certain areas..

A lukewarm review isn't a good thing, but it doesn't mean you're on your way out. So long as you're getting a mix of praise and criticism, you're probably fine. But if the praise stops entirely--if the reviewers don't even bother to focus on some positives--then you're done.

[mt2165]

Goddam this thread got dark

[jbagelboy]

were all getting canned

accept and move on

[johndhi]

ATL's article didn't mention this, but if you look at the bonus memo they just posted from Sidley, it also announces the salaries for 2016. The same. Any Sidley people here to confirm whether that's the norm, or if they're trying to stave off a coming storm?

http://abovethelaw.com/2015/12/associat ... elation/2/

[rpupkin]

Sidley is not a MARKET LEADER, and therefore is of little value here.

[wiz]

I see this as good news. Sidley is known as being a cheap firm, and now because of Sidley, 160 will be viewed as cheap. NY to 190.

[Big Shrimpin]

were all getting canned

accept and move on

this eventuality is inescapable

the sooner you accept this, the sooner you can figure out what you want to do with your life

godspeed, poasters ITT

[Old Gregg]

ATL's article didn't mention this, but if you look at the bonus memo they just posted from Sidley, it also announces the salaries for 2016. The same. Any Sidley people here to confirm whether that's the norm, or if they're trying to stave off a coming storm?

http://abovethelaw.com/2015/12/associat ... elation/2/

ur reading too much into this

[heythatslife]

Feds are raising rates again. No more cheap money for the banks -> transaction volume contracts -> NY to 190 layoffs per firm.

[2014]

Feds are raising rates again. No more cheap money for the banks -> transaction volume contracts -> NY to 190 layoffs per firm.

Certainty of increases creates stability -> bank profits go up -> NY to 190% YTY increase in cap markets volume

[20160810]

Has NY gone to 190 yet?