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

[Anonymous User]

What an absolute flex by DPW though, paralyzing the whole market with indecision.

[bigboybob]

Wouldn't want anyone to feel like they have to make Lobster jokes because of pier pressure.

[woopig2017]

Wouldn't want anyone to feel like they have to make Lobster jokes because of pier pressure.

https://www.youtube.com/watch?v=qfpg-YoQj60

[mtf612]

Wouldn't want anyone to feel like they have to make Lobster jokes because of pier pressure.

Ahh, shucks (lobster)

[Anonymous User]

Snl lobster diner

https://m.youtube.com/watch?v=Pj-D0jc17D0

[BrowsingTLS]

My tea's gone cold and I'm wondering why I opened this thread at all
Davis Polk has not said anything
Not anything at all
And even if it did, it'd be too late
for them to jump up to V4
And that reminds me what happened to vault
thanks firsthand co

[NoLongerALurker]

I know these musical parodies are supposed to be more cringe than cool but I guess I’m just a cringey motherfucker because I objectively enjoy them.

Also lobster diner is the best snl sketch of all time don’t @ me

[Anonymous User]

NRF matched Milbank…retroactive to Jan 1st.

[Anonymous User]

NRF matched Milbank…retroactive to Jan 1st.

Good for them. Enough of this shit. If DPW wants to give out Spring bonuses, other firms can announce those in their good time. If DPW wants to re-raise, other firms can re-raise and just keep saying they're paying market, no shame in that.

[woopig2017]

NRF matched Milbank…retroactive to Jan 1st.

Please sir may I have some more.

[Anonymous User]

NRF matched Milbank…retroactive to Jan 1st.

Good to see firms still true-ing up.

[Wanderingdrock]

NRF matched Milbank…retroactive to Jan 1st.

NRF pays better than DPW.

[Anonymous User]

What an absolute flex by DPW though, paralyzing the whole market with indecision.

Maybe DPW is sadistically waiting for a peer V10 firm to match Milbank first so that DPW can then stunt on that firm by going over the top?

It’s not enough to win, others must lose, et cetera et cetera…

[Anonymous User]

What an absolute flex by DPW though, paralyzing the whole market with indecision.

Maybe DPW is sadistically waiting for a peer V10 firm to match Milbank first so that DPW can then stunt on that firm by going over the top?

It’s not enough to win, others must lose, et cetera et cetera…

I'm sure that's exactly what CSM has been trying to avoid, and I wouldn't be surprised if DPW's partially motivated by this.

Of course, another possibility is that DPW's partners are arguing about what to do and might ultimately decide to just match.

[Wanderingdrock]

What an absolute flex by DPW though, paralyzing the whole market with indecision.

Maybe DPW is sadistically waiting for a peer V10 firm to match Milbank first so that DPW can then stunt on that firm by going over the top?

It’s not enough to win, others must lose, et cetera et cetera…

But in the meantime, NRF PAYS BETTER THAN DPW.

[Anonymous User]

Bold prediction (probably repeating what someone already said in the last 22 pgs of this thread): at some point next week, DPW raises scale by $5k for juniors and $10k for seniors, and announces special bonuses on the same scale as last year.

Go home and rest up for next week. The war isn't over yet.

[Anonymous User]

Maybe dpw’s exec committee had standing delegated authorization to increase salaries up to a certain amount (like 10 years ago or something and they’ve been relying on it for quick matches or raises to date), but the market has finally hit the limit so they can’t actually increase without going through significant red tape (like a full partner vote or some shit) and that’s what’s causing the delay.

[Hstrat]

Is there a good record somewhere of the how long it took firms to match or raise historically?

[Anonymous User]

Bold prediction (probably repeating what someone already said in the last 22 pgs of this thread): at some point next week, DPW raises scale by $5k for juniors and $10k for seniors, and announces special bonuses on the same scale as last year.

Go home and rest up for next week. The war isn't over yet.

Bolder prediction: DPW does a raise with some of this increments of $2500 nonsense and we all bite the hand that feeds us.

[Anonymous User]

Morgan Lewis just announced it plans to match the new associate scale once it is settled. It will also pay all associates in good standing a bonus on April 1 equal to the difference between the comp the associate received and the comp the associate would have received based on whatever the market is on March 31. Sort of an interesting way to manage the true up issue created by this delay between Milbank’s annoucement and the rest of the market-setting firms.

[Anonymous User]

Morgan Lewis just announced it plans to match the new associate scale once it is settled. It will also pay all associates in good standing a bonus on April 1 equal to the difference between the comp the associate received and the comp the associate would have received based on whatever the market is on March 31. Sort of an interesting way to manage the true up issue created by this delay between Milbank’s annoucement and the rest of the market-setting firms.

Wow. That's how you know this has been going on too long.

[Anonymous User]

Morgan Lewis just announced it plans to match the new associate scale once it is settled. It will also pay all associates in good standing a bonus on April 1 equal to the difference between the comp the associate received and the comp the associate would have received based on whatever the market is on March 31. Sort of an interesting way to manage the true up issue created by this delay between Milbank’s annoucement and the rest of the market-setting firms.

Wait. So, they are announcing a match now, paying below Milbank until April 1, and on April 1 they will true up with a "bonus" back to Jan 1?

[Anonymous User]

Does DPW have a history of re-raising beyond the last time they one upped Milbank? Curious because many on TLS seem very confident that DPW either will do this again or are the only firm likely to do this and I want to know if it's based on something more than their having done it one time.

[Anonymous User]

Does DPW have a history of re-raising beyond the last time they one upped Milbank? Curious because many on TLS seem very confident that DPW either will do this again or are the only firm likely to do this and I want to know if it's based on something more than their having done it one time.

I think they've done it twice now either on bonuses or salaries. But more importantly, firms in the V10 would not be waiting this long to match if they didn't think/assume there was going to be another raise. DPW included.

[Anonymous User]

So, they are announcing a match now, paying below Milbank until April 1, and on April 1 they will true up with a "bonus" back to Jan 1?

I took it to mean they will announce once it is settled, but it is not settled yet. Whether the new scale, whenever it is announced, will be effective prior to April 1 is unclear to me. Either it will be effective April 1 with a larger true up bonus, or effective earlier with a smaller one. I’m guessing the former but I’d have to relisten to the VM.