2015 Biglaw Boneus Thread Forum

[Desert Fox]

[dwyf]

Part of me thinks DPW memo was a note to other firms as if to say, "we're not raising base salaries so don't look to us". It's like avoiding being a cartel while being a cartel. I'm sure they would match but they won't lead.

DPW is very image conscious. They are a conservative white shoe firm and they build their culture around genteel client service. Tom Reid has discussed bonuses with groups of juniors on occasion and explained (in his view) that the firm could afford and all things equal would like to compensate junior associates better with higher bonuses or salary, but they have to be extremely sensitive to clients' impressions, and it's a bad look when the client hears about the firm making it rain for associates whose work is of dubious value in the first place. That's why they are more comfortable raising compensation for mid-levels, but even there its a tough balance. So I think the bonus memo, as with everything else, was actually directed towards clients as a PR stunt.

Of course, another one of Tom Reid's goals is to increase PPP by a wide margin by 2020. So it's a catastrophically flawed set of priorities.

I know we've been talking about assholes all thread, but man, what a fucking asshole.

The firm has fucking exploded over the past six years (PPP up over 70%!) and we would totally give you a piece of that growth but OH THINK OF THE CLIENTS they'll angrily call us wondering why associates can suddenly afford to buy a house!

LJL at the fucking transparency of telling associates they can't get better bonuses because of client pressure and then turning around and telling clients you have to raise rates by another 4% because of associate bonuses.

Associate bonuses are bad PR, but the optics around ranking firms by PPP is ok? These firms say high PPP shows prestige, why isn't paying associates preftigious?

[OneMoreLawHopeful]

my firm is serving hot dogs at the holiday party--Not Flame.

I thought your firm was V38, but serving hot dogs instead of organic curry wurst sounds more like V62 behavior...

[Desert Fox]

[anyriotgirl]

my firm is serving hot dogs at the holiday party--Not Flame.

I thought your firm was V38, but serving hot dogs instead of organic curry wurst sounds more like V62 behavior...

Bro, this is Amlaw 237 territory

what are unclean meat abstainers supposed to do?

[Desert Fox]

[jingosaur]

I'm assuming that the beer is domestics only.

[cookiejar1]

lolol

NY TO PLEASE GOD JUST LET US KEEP OUR JOBS

[WestOfTheRest]

Part of me thinks DPW memo was a note to other firms as if to say, "we're not raising base salaries so don't look to us". It's like avoiding being a cartel while being a cartel. I'm sure they would match but they won't lead.

DPW is very image conscious. They are a conservative white shoe firm and they build their culture around genteel client service. Tom Reid has discussed bonuses with groups of juniors on occasion and explained (in his view) that the firm could afford and all things equal would like to compensate junior associates better with higher bonuses or salary, but they have to be extremely sensitive to clients' impressions, and it's a bad look when the client hears about the firm making it rain for associates whose work is of dubious value in the first place. That's why they are more comfortable raising compensation for mid-levels, but even there its a tough balance. So I think the bonus memo, as with everything else, was actually directed towards clients as a PR stunt.

Of course, another one of Tom Reid's goals is to increase PPP by a wide margin by 2020. So it's a catastrophically flawed set of priorities.

I know we've been talking about assholes all thread, but man, what a fucking asshole.

The firm has fucking exploded over the past six years (PPP up over 70%!) and we would totally give you a piece of that growth but OH THINK OF THE CLIENTS they'll angrily call us wondering why associates can suddenly afford to buy a house!

LJL at the fucking transparency of telling associates they can't get better bonuses because of client pressure and then turning around and telling clients you have to raise rates by another 4% because of associate bonuses.

There just unfortunately isn't a business reason for DPW or its peers to raise compensation until they start to lose associates faster than they can efficiently replace them. It's been discussed at length how jacking up comp wouldn't do anything for recruiting so it has to be about retention and that just doesn't seem to be any more or less of an issue this year than it has been the last four or so. Absent a business reason, all of the hope is in altruism and the market just doesn't function that way (though it does make the DPW memo about being charitable that much more ironic).

Plus even if a firm was altruistic, there is ALWAYS a business reason to raise PPP, especially at lockstep firms that rely on rainmakers taking (substantial) pay cuts to stick around, so the altruism would have to be pretty damn strong.

Tl;dr we need more NY people to exit IN MASS

Which is obviously a collective action problem, because no one is going to leave NY so that the associates who are left get a raise. The alternative is much more attractive


Unionize....

[jbagelboy]

my firm is serving hot dogs at the holiday party--Not Flame.

I thought your firm was V38, but serving hot dogs instead of organic curry wurst sounds more like V62 behavior...

Bro, this is Amlaw 237 territory

what are unclean meat abstainers supposed to do?

They are serving buns.

Dood those better be gfree buns or we're staging a hunger strike.

[Big Shrimpin]

unionize?

si, se puede!!!!!!!!

[mvp99]

unionize?

si, se puede!!!!!!!!

what about ethical obligations? lawyers can't strike..

[anyriotgirl]

unionize?

si, se puede!!!!!!!!

what about ethical obligations? lawyers can't strike..

also gonna be kinda hard to do a work slowdown when you bill by the hour

[2014]

unionize?

si, se puede!!!!!!!!

what about ethical obligations? lawyers can't strike..

also gonna be kinda hard to do a work slowdown when you bill by the hour

This makes it easier not harder, the partners lose revenue per minute we strike, we probably don't lose any wages at all since we can just call the strikes professional reading.

[anyriotgirl]

unionize?

si, se puede!!!!!!!!

what about ethical obligations? lawyers can't strike..

also gonna be kinda hard to do a work slowdown when you bill by the hour

This makes it easier not harder, the partners lose revenue per minute we strike, we probably don't lose any wages at all since we can just call the strikes professional reading.

a strike and a work slowdown are different bargaining tactics

[2014]

unionize?

si, se puede!!!!!!!!

what about ethical obligations? lawyers can't strike..

also gonna be kinda hard to do a work slowdown when you bill by the hour

This makes it easier not harder, the partners lose revenue per minute we strike, we probably don't lose any wages at all since we can just call the strikes professional reading.

a strike and a work slowdown are different bargaining tactics

Valid response

[Johann]

3l hiring thread about to be bumping sounds like. You guys have issues with authority. Admit you're fucked and have no power and eat your goddamn hot dog and gluten bun already.

[Anastasia Dee Dualla]

.

[jkpolk]

Part of me thinks DPW memo was a note to other firms as if to say, "we're not raising base salaries so don't look to us". It's like avoiding being a cartel while being a cartel. I'm sure they would match but they won't lead.

DPW is very image conscious. They are a conservative white shoe firm and they build their culture around genteel client service. Tom Reid has discussed bonuses with groups of juniors on occasion and explained (in his view) that the firm could afford and all things equal would like to compensate junior associates better with higher bonuses or salary, but they have to be extremely sensitive to clients' impressions, and it's a bad look when the client hears about the firm making it rain for associates whose work is of dubious value in the first place. That's why they are more comfortable raising compensation for mid-levels, but even there its a tough balance. So I think the bonus memo, as with everything else, was actually directed towards clients as a PR stunt.

Of course, another one of Tom Reid's goals is to increase PPP by a wide margin by 2020. So it's a catastrophically flawed set of priorities.

I know we've been talking about assholes all thread, but man, what a fucking asshole.

The firm has fucking exploded over the past six years (PPP up over 70%!) and we would totally give you a piece of that growth but OH THINK OF THE CLIENTS they'll angrily call us wondering why associates can suddenly afford to buy a house!

LJL at the fucking transparency of telling associates they can't get better bonuses because of client pressure and then turning around and telling clients you have to raise rates by another 4% because of associate bonuses.

Associate bonuses are bad PR,but the optics around ranking firms by PPP is ok? These firms say high PPP shows prestige, why isn't paying associates preftigious?

War is over if we want it, bro

[jbagelboy]

Gg. Well played biglaw.

Time to lock this thread before we get more depressive.

[Anonymous User]

no announcement from Quin yet. any thoughts on whether they might go bigger given they scrapped their SA program this year in favor of being able to dedicate that money elsewhere?

[Anonymous User]

no announcement from Quin yet. any thoughts on whether they might go bigger given they scrapped their SA program this year in favor of being able to dedicate that money elsewhere?

They're not going bigger 1mlh. jbq needs some new artwork.

[Desert Fox]

[TLSModBot]

NY TO HERE'S A GUN (and a single bullet for your bonus). Poor performers just get the locks taken off their 30th floor windows.

[umichman]

no announcement from Quin yet. any thoughts on whether they might go bigger given they scrapped their SA program this year in favor of being able to dedicate that money elsewhere?

Yea the firm who doesn't even pay market for 2099 hours worked is going to raise market. Even if they tried, nobody would follow. Nobody follows K&E.

y doesnt anyone follow K&E?