Summer bonuses Forum

[Anonymous User]

Heard from a friend at Cravath that they are fully remote for all of August so maybe the partners just haven't gotten together in the same room yet.

DPW is fully remote the last 2 weeks of August. Of the partners in my group, 2/3rds are at their vacation homes, 1/3rd are in Europe, lol.

[Anonymous User]

Let's be real, it looks like these summer bonuses are not happening for the rest of the market. Firms like DPW, Cravath, and Kirkland think they can get away with not matching Milbank with no repercussions. We have no power over whether they match. But we do have power over not letting all them ever forget that they are no longer top-of-market , or industry-leading firms when it comes to compensation. They are all now below-market.

In firm feedback, town halls, recruiting, OCI, press puff pieces, and other types of PR, we should not let them get away with the false advertising as of now. Don't need to quit your job, but don't let them get away with the lie.

[Anonymous User]

Admit I expected matches by now, but I wouldn't give up hope until any firm is confirmed not doing it. As others have said, it's August.

[Anonymous User]

Admit I expected matches by now, but I wouldn't give up hope until any firm is confirmed not doing it. As others have said, it's August.

Other firms have said they aren't doing it unless "the market does". Delusional you people.

[Anonymous User]

Admit I expected matches by now, but I wouldn't give up hope until any firm is confirmed not doing it. As others have said, it's August.

Other firms have said they aren't doing it unless "the market does". Delusional you people.

Does it make you feel better to post things like that

[Anonymous User]

Admit I expected matches by now, but I wouldn't give up hope until any firm is confirmed not doing it. As others have said, it's August.

Other firms have said they aren't doing it unless "the market does". Delusional you people.

Unless the "other firms" you speak of are Cravath and DPW then "the market" hasn't spoken yet. Just because "other firms" are no longer clamoring to make a first match doesn't mean it won't happen.

[Anonymous User]

So is this week the week finally? Everyone is back in their offices and back to business as usual. Not to mention that the Milbank bonuses are going to be paid out later this month, at which point they would be solidified to live forever in the history books as the compensation leaders.

Milbank to v1. Cravath and DPW to v101/102.

[Anonymous User]

Summer's over. Where are we on this?

[Anonymous User]

Better be a fucking BEAT and RAISE of Milbank scale, after waiting this long to make an announcement of raises that are picayune in comparison to PPP rise thus far.

[Anonymous User]

Better be a fucking BEAT and RAISE of Milbank scale, after waiting this long to make an announcement of raises that are picayune in comparison to PPP rise thus far.

Bigger bonuses and salary raises to be effective 1/1 are the way to go CravaTTh and DPW...

[Anonymous User]

WHAT THE FUCK IS HAPPENING? WHAT THE FUCK IS TAKING SO LONG?!!?

[Anonymous User]

WHAT THE FUCK IS HAPPENING? WHAT THE FUCK IS TAKING SO LONG?!!?

They aren't coming. I'd focus on your timesheets instead.

[Anonymous User]

Na they have to be coming. Otherwise Cravath and DPW will be seen as such cheap second rate law firms which their egos can't handle.

[Anonymous User]

Have to imagine this is just a long game of chicken because neither Cravath or DPW wants to go first just to be one-upped by the other.

[Anonymous User]

Have to imagine this is just a long game of chicken because neither Cravath or DPW wants to go first just to be one-upped by the other.

This ignores the most likely other possibility: that neither Cravath nor DPW want to "go" at all -- and accordingly won't do so.

[Anonymous User]

Milbank bonuses paid out today. Milbank oficially above market.

[Anonymous User]

Have to imagine this is just a long game of chicken because neither Cravath or DPW wants to go first just to be one-upped by the other.

This ignores the most likely other possibility: that neither Cravath nor DPW want to "go" at all -- and accordingly won't do so.

Nice job slipping in the word "likely" with just as little evidence as the poster you're responding to.

[Anonymous User]

Have to imagine this is just a long game of chicken because neither Cravath or DPW wants to go first just to be one-upped by the other.

This ignores the most likely other possibility: that neither Cravath nor DPW want to "go" at all -- and accordingly won't do so.

Nice job slipping in the word "likely" with just as little evidence as the poster you're responding to.

Where are we on this? Will next week be the week?

[Anonymous User]

I officially gave up.

[Anonymous User]

I officially gave up.

Thanks for your honesty. It can be deflating when we are wrong, but it is best to accept reality and move forward.

[Anonymous User]

I officially gave up.

Thanks for your honesty. It can be deflating when we are wrong, but it is best to accept reality and move forward.

to fall bonuses

[Anonymous User]

I officially gave up.

Thanks for your honesty. It can be deflating when we are wrong, but it is best to accept reality and move forward.

to fall bonuses

But still no summer ones!

[Anonymous User]

Bump. Where are we on summer bonuses?

[Anonymous User]

My take now (potentially cope) is when it comes to EOY bonus times firms will incorporate the milbank bonus and call it a special bonus and put it on top of the standard bonus. Then Milbank will be forced to make the hard decision of paying a bonus without the special bonus (thus surrendering) or Milbank will pay out the bonus plus special bonus and THEN DPW will raise to one-up Milbank and incorporate the summer bonus + special bonus + EOY bonus and then Milbank will surrender and not match this new DPW increase thereby technically matching DPW in gross. Screenshot this now. If I'm right I want to be made of king of this forum.

[Anonymous User]

I think the market is going to do whatever Cravath does, and I’m guessing Cravath isn’t having associate retention issues right now. Milbank was probably an outlier this year given its strength in private credit, but I think it’s fair to say that the big capital markets/M&A practices (including Cravath’s) had an average/below average year.