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

[Anonymous User]

As a midlevel, many of us have already been taken care of via either retention bonuses or above market YE bonus.

How common are retention bonuses for mid-levels? I thought not very but maybe I am leaving $$ on the table.

[Anonymous User]

The delay is DPW+ figuring out how to punish Milbank for continually raising and hurting their bottom lines. Soon the children of Milbank partners will not be welcome in the Young Yachtsman's Club of the Hamptons.

Obvious joke but I do wonder if firms are upset enough about the salary+bonus arms race to the point of trying to figure out how to break the cycle, causing delays.

[Anonymous User]

I hope DPW matches tomorrow so all this well-AKSCHUALLY-tier bickering about the mysterious benefits of paying your employees market rate salaries for their labor can finally cease.

Alright everyone, pack it up, we finally got to the "complaining about people complaining" post, signaling the end of another productive day. See y'all tomorrow.

I'm not meta-complaining, I'm complaining about posters debating whether V10 associates will lateral if they're paid at below-market comp. Like the answer isn't obvious.

[Anonymous User]

I find this delay frustrating but it’s also funny when you think how easy it is to push our buttons and play with our fragile psyches.

[Anonymous User]

The delay is DPW+ figuring out how to punish Milbank for continually raising and hurting their bottom lines. Soon the children of Milbank partners will not be welcome in the Young Yachtsman's Club of the Hamptons.

Obvious joke but I do wonder if firms are upset enough about the salary+bonus arms race to the point of trying to figure out how to break the cycle, causing delays.

Maybe they could peg salaries to some percentage of RPL. That would get pretty crazy I imagine

[Anonymous User]

The delay is DPW+ figuring out how to punish Milbank for continually raising and hurting their bottom lines. Soon the children of Milbank partners will not be welcome in the Young Yachtsman's Club of the Hamptons.

Obvious joke but I do wonder if firms are upset enough about the salary+bonus arms race to the point of trying to figure out how to break the cycle, causing delays.

Maybe they could peg salaries to some percentage of RPL. That would get pretty crazy I imagine

They wouldn't do this in a million years.

[Anonymous User]

Can someone please confirm what time the DPW town hall meeting is? I already asked this just now but I don’t see my comment anywhere so excuse me if it shows this twice

2/10 at 10am

[Anonymous User]

Can someone please confirm what time the DPW town hall meeting is? I already asked this just now but I don’t see my comment anywhere so excuse me if it shows this twice

2/10 at 10am

DPW associates: please be brave tomorrow and bring up Milbank's raise at the meeting if the firm doesn't do it first. Make them acknowledge the comp movement and see if they'll provide any details or hints as to the timing or nature of their response. Thanks!!

[Anonymous User]

The delay is DPW+ figuring out how to punish Milbank for continually raising and hurting their bottom lines. Soon the children of Milbank partners will not be welcome in the Young Yachtsman's Club of the Hamptons.

Obvious joke but I do wonder if firms are upset enough about the salary+bonus arms race to the point of trying to figure out how to break the cycle, causing delays.

Maybe they could peg salaries to some percentage of RPL. That would get pretty crazy I imagine

They wouldn't do this in a million years.

Maybe the delay is because Davis Polk is designing an ESOP

[Anonymous User]

Can someone please confirm what time the DPW town hall meeting is? I already asked this just now but I don’t see my comment anywhere so excuse me if it shows this twice

2/10 at 10am

DPW associates: please be brave tomorrow and bring up Milbank's raise at the meeting if the firm doesn't do it first. Make them acknowledge the comp movement and see if they'll provide any details or hints as to the timing or nature of their response. Thanks!!

Answer is probably no but do these townhalls allow for anonymous questions? I'd still be too cowardly to ask but I'm just curious

[Anonymous User]

LMFAO we're now in some absurdist movie; we're all characters in it. This reminds me of Wag the Dog. They have to announce at the town hall tomorrow, right? There's no way they can hold an all attorney town hall and not announce the comp. increase + bonus? Again, lmfao

[Anonymous User]

Can someone please confirm what time the DPW town hall meeting is? I already asked this just now but I don’t see my comment anywhere so excuse me if it shows this twice

2/10 at 10am

DPW associates: please be brave tomorrow and bring up Milbank's raise at the meeting if the firm doesn't do it first. Make them acknowledge the comp movement and see if they'll provide any details or hints as to the timing or nature of their response. Thanks!!

Answer is probably no but do these townhalls allow for anonymous questions? I'd still be too cowardly to ask but I'm just curious

Why is this some legendarily courageous act? When my firm (Hogan Lovells) dithered on raises and bonuses last year, several associates brought it up on every town hall we had, whether firm-wide or practice-group/office-specific. Granted the response was always the same ("We hear you... we understand it's important...") and it didn't really change the inevitable outcome (a match a couple weeks later), but it wasn't that hard for associates to just ask what was going on, and it's not like anyone was punished for asking.

Are DPW associates really such betas?

[Anonymous User]

DPW town halls are firm-wide, not attorney-wide. It might be weird to announce associate raises in front of support staff who won’t be receiving one.

[Anonymous User]

Can someone please confirm what time the DPW town hall meeting is? I already asked this just now but I don’t see my comment anywhere so excuse me if it shows this twice

2/10 at 10am

DPW associates: please be brave tomorrow and bring up Milbank's raise at the meeting if the firm doesn't do it first. Make them acknowledge the comp movement and see if they'll provide any details or hints as to the timing or nature of their response. Thanks!!

Answer is probably no but do these townhalls allow for anonymous questions? I'd still be too cowardly to ask but I'm just curious

Why is this some legendarily courageous act? When my firm (Hogan Lovells) dithered on raises and bonuses last year, several associates brought it up on every town hall we had, whether firm-wide or practice-group/office-specific. Granted the response was always the same ("We hear you... we understand it's important...") and it didn't really change the inevitable outcome (a match a couple weeks later), but it wasn't that hard for associates to just ask what was going on, and it's not like anyone was punished for asking.

Are DPW associates really such betas?

I never claimed it required courage. I'm just a special type of coward.

[Anonymous User]

.

[Anonymous User]

lol we're all here anon because of our bravery, let's chill with calling others cowards

[Anonymous User]

DPW town halls are firm-wide, not attorney-wide. It might be weird to announce associate raises in front of support staff who won’t be receiving one.

Seems very unlikely they would announce raises then if support staff are part of the conversation. Looks like that day is now Friday

[njdevils2626]

DPW town halls are firm-wide, not attorney-wide. It might be weird to announce associate raises in front of support staff who won’t be receiving one.

Seems very unlikely they would announce raises then if support staff are part of the conversation. Looks like that day is now Friday

Any day is as likely as any other, but I think all this means is it's not likely to be announced at the town hall. No reason an attorney-wide email couldn't be sent 15 minutes before the meeting starts or any other time tomorrow

[clone22]

The delay is DPW+ figuring out how to punish Milbank for continually raising and hurting their bottom lines. Soon the children of Milbank partners will not be welcome in the Young Yachtsman's Club of the Hamptons.

Obvious joke but I do wonder if firms are upset enough about the salary+bonus arms race to the point of trying to figure out how to break the cycle, causing delays.

Maybe they could peg salaries to some percentage of RPL. That would get pretty crazy I imagine

They wouldn't do this in a million years.

Maybe the delay is because Davis Polk is designing an ESOP

An ESOP? Why stop there? Since we're in Imaginationland, why not go for a Profits Interest plan? All these firms are LLPs (or taxed as partnerships), so why not imagine that the firms will share their profitability with associates in a tax-advantaged manner?

[Anonymous User]

.

[Anonymous User]

On the other hand, if you flounder out of Cadwalader where are you going.

There is a currently a v6 firm that will hire sixteen-year olds that are good at reading as laterals if it could

[Anonymous User]

LIBERA TE TUTEMET EX INFERIS

[Anonymous User]

On the other hand, if you flounder out of Cadwalader where are you going.

There is a currently a v6 firm that will higher sixteen-year olds that are good at reading as laterals if it could

(Paul Weiss associate still fuming over his rejection from the SHATTERING prestige of a MODELS and BOTTLES institution where CHAMPAGNE SPARKLERS are had nightly at the fair clubs of Hubbard St)

[Anonymous User]

On the other hand, if you flounder out of Cadwalader where are you going.

Do you seriously think that people at Cadwalader don't have decent options, especially in this economy?

[Anonymous User]

On the other hand, if you flounder out of Cadwalader where are you going.

Do you seriously think that people at Cadwalader don't have decent options, especially in this economy?

(1) Objectively, ppl at Cadwalader are worse off than those at elite firms. Sure the market is hot now, but come on
(2) Not all v10's are on equal footing re prestige (*cough* whoever presumably took the shot at KE taking 16-year-olds with a pulse). But even they are better off than cwt
Hard to believe this is even an argument...