Top Law Schools

http://www.mergermarket.com/pdf/Mergerm ... Q32016.pdf

Are folks at these firms feeling the steep decline in terms of hours? What will impact be on bonuses? The numbers do not look good so far..

RaceJudicata wrote:http://www.mergermarket.com/pdf/Mergerm ... Q32016.pdf

Are folks at these firms feeling the steep decline in terms of hours? What will impact be on bonuses? The numbers do not look good so far..

Don't work at any of these but worked at a bulge-bracket ib firm before LS doing m&a. You'll realize the industry is cyclical. A downturn now isn't indicative of The industry overall. In fact when the economy turns south m&a will pick up due to cheaper cost of capital and cheaper acquisition prices. End of year is always stronger than 1st half too.

Depression in deal volume is likely largely driven by higher valuation multiples. Returns are just not going to be the same with the higher multiples. It'll come back up. Plus, a strong dollar makes us deals more expensive on top of this all.

Also last year was batshit nuts.

thermidor9 wrote:Also last year was batshit nuts.

This. We're on pace to be well ahead of 2013, and not too far behind 2014 which is when bonuses went up.

IMO, the salary raise this last year was more a reflection of keeping up with PPP growth since '09 rather than expecting '15 to be the new normal (at least at the top firms). That, plus the embarrassment Cravath would face if they lowered bonuses after raising salaries = sufficient to keep bonuses where they are, I'd bet.