NYC to 200k Forum

[Anonymous User]

Now's the perfect time for a V5 to go to 200 and make CravaTTTh look bad!!!!

[Anonymous User]

This is better than I'd anticipated. Summer bonuses now market. Cravath could have matched only salaries, at which point everyone would have left Simpson's bonuses as an outlier. As it is, everybody gets immediate money. Hooray!

[Anonymous User]

Now's the perfect time for a V5 to go to 200 and make CravaTTTh look bad!!!!

DPW to 200 temps tracking associate whereabouts at all times.

[Anonymous User]

This is better than I'd anticipated. Summer bonuses now market. Cravath could have matched only salaries, at which point everyone would have left Simpson's bonuses as an outlier. As it is, everybody gets immediate money. Hooray!

And bigger raises for us midlevels/seniors too!

[Anonymous User]

Someone please copy paste the memo, this board has anonymous posting for christs sake

We are pleased to announce that the Firm will pay a special bonus and
increase associate base salaries as follows:
Class Special Bonus Base Salary
2017 $5,000 $190,000
2016 $7,500 $200,000
2015 $10,000 $220,000
2014 $15,000 $255,000
2013 $20,000 $280,000
2012 $25,000 $305,000
2011 $25,000 $325,000
2010 $25,000 $340,000
Bonuses will be paid on June 29. An associate must be at the Firm on
June 29 to be eligible for the bonus. Associates who have been with the Firm for only
part of the year or are working part-time will receive a pro-rated portion of the applicable
class-level bonus.
The base salary increase is effective July 1 and will be reflected in
paychecks commencing on July 6. Summer associate salaries will also be increased to
match the new first year associate weekly salary, effective July 1.
We would like to express the Firm’s appreciation for all your efforts.
F. J. Saeed
G. E. Zobitz
K. A. DeMasi

Wait, why would Cravath prorate the summer bonus if they don't take laterals? Is this only people who took leave and/or come from clerks? Seems a bit... tickety-tack, no?

Cravath is actually less than STB with respect to summer bonuses. Simpson did not prorate those summer bonuses. I think this is a huge distinction and worth mentioning. See STB memo below:

[Anonymous User]

LOL @ ATL:

"Remember everyone, we depend on your tips to stay on top of this stuff. So when your firm matches, please text us (646-820-8477) or email us (subject line: '[Firm Name] Matches Milbank')."

I think you mean [Firm Name] Matches CRAVATH

[Anonymous User]

Cravath is actually less than STB with respect to summer bonuses. Simpson did not prorate those summer bonuses. I think this is a huge distinction and worth mentioning. See STB memo below:

You're misreading the memo. Associates who have been at the firm for part of the year will receive a prorated bonus. All other associates get the listed bonus.

[toast and bananas]

Hit ATL:

https://abovethelaw.com/2018/06/cravath ... ssociates/

[Anonymous User]

Cravath is actually less than STB with respect to summer bonuses. Simpson did not prorate those summer bonuses. I think this is a huge distinction and worth mentioning. See STB memo below:

You're misreading the memo. Associates who have been at the firm for part of the year will receive a prorated bonus. All other associates get the listed bonus.

I'm not. STB is not prorated whereas Cravath is prorated. This means a lateral at STB will get their full summer bonus and one at Cravath, would not. I know they don't take laterals, but it's still an extra qualification on the bonus.

[Anonymous User]

chicken shit RIP 200

[Anonymous User]

I'm not. STB is not prorated whereas Cravath is prorated. This means a lateral at STB will get their full summer bonus and one at Cravath, would not. I know they don't take laterals, but it's still an extra qualification on the bonus.

Does teh "good standing" requirement require some sort of hours threshold?

[Anonymous User]

I'm not. STB is not prorated whereas Cravath is prorated. This means a lateral at STB will get their full summer bonus and one at Cravath, would not. I know they don't take laterals, but it's still an extra qualification on the bonus.

Does teh "good standing" requirement require some sort of hours threshold?

That would be their way of doing it. My guess was that they included this in the event market does not shift to a summer bonus model. If everyone shifts to the summer bonus trend, it's harder to burn laterals who would have received that bonus at their prior firm. If they are the outlier, they can use that to prorate.

[Anonymous User]

A de minimis difference in summer bonus only an issue, if at all, for laterals ins't noteworthy at all. Even then, the loss due to proration for some midlevels and seniors will be made up for by the higher base salary.

Simpson will have to release another memo going up, or try to beat Cravath during winter bonuses.

[Anonymous User]

I'm not. STB is not prorated whereas Cravath is prorated. This means a lateral at STB will get their full summer bonus and one at Cravath, would not. I know they don't take laterals, but it's still an extra qualification on the bonus.

Does teh "good standing" requirement require some sort of hours threshold?

That would be their way of doing it. My guess was that they included this in the event market does not shift to a summer bonus model. If everyone shifts to the summer bonus trend, it's harder to burn laterals who would have received that bonus at their prior firm. If they are the outlier, they can use that to prorate.

STB memo describes as "summer bonus"; Cravath memo describes as "a special bonus." Cravath is certainly not planning to make summer bonuses a thing

[Anonymous User]

Cravath is actually less than STB with respect to summer bonuses. Simpson did not prorate those summer bonuses. I think this is a huge distinction and worth mentioning. See STB memo below:

You're misreading the memo. Associates who have been at the firm for part of the year will receive a prorated bonus. All other associates get the listed bonus.

I'm not. STB is not prorated whereas Cravath is prorated. This means a lateral at STB will get their full summer bonus and one at Cravath, would not. I know they don't take laterals, but it's still an extra qualification on the bonus.

I don't think this is true. I'm at STB. We definitely pro rate the annual basis for laterals, though this is a negotiated point in lateral arrangements. I am sure this is also pro rated, the memo just doesn't go into that level of detail. We have laterals who started this week; they almost certainly will not get the full bonus. They probably did get some sort of signing bonus, though, depending on individual negotiations.

[Anonymous User]

Milbank needs to match bonuses so firms can't pretend to match market without matching bonuses

[Anonymous User]

I guess Milbank/STB/etc. now pretty much have to go back and raise salaries again to match the Cravath senior associate bump, right? Don't think they really have a choice.

[Anonymous User]

I guess Milbank/STB/etc. now pretty much have to go back and raise salaries again to match the Cravath senior associate bump, right? Don't think they really have a choice.

They do have a choice. They could raise them even higher.

[Blindweaponsfumbler]

I guess Milbank/STB/etc. now pretty much have to go back and raise salaries again to match the Cravath senior associate bump, right? Don't think they really have a choice.

They do have a choice. They could raise them even higher.

Milbank’s master plan. Raise first to goad out the Competition, then reraise just to strut.

[Anonymous User]

Guys, when do you think will we hear from
- S&C
- DPW
- Skadden
- Latham & Watkins
- Kirkland & Ellis?

[Anonymous User]

Guys, when do you think will we hear from
- S&C
- DPW
- Skadden
- Latham & Watkins
- Kirkland & Ellis?

Everyone’s probably waiting for Kirkland

[Anonymous User]

Guys, when do you think will we hear from
- S&C
- DPW
- Skadden
- Latham & Watkins
- Kirkland & Ellis?

DPW probably today or tomorrow as our partners met already

[Anonymous User]

Guys, when do you think will we hear from
- S&C
- DPW
- Skadden
- Latham & Watkins
- Kirkland & Ellis?

Everyone’s probably waiting for Kirkland

I don't get this anymore. Do they truly believe there's any chance KE won't match?

[Anonymous User]

Guys, when do you think will we hear from
- S&C
- DPW
- Skadden
- Latham & Watkins
- Kirkland & Ellis?

Everyone’s probably waiting for Kirkland

Biglaw is so boring. Kirkland should raise, put the icing on 3 or 4 years worth of cake and finally cement themselves as ascendant, wipe away the suspicion and resentment they get instead of credit for a crazy rise. But they won’t - they’ll match.

[Anonymous User]

kirks is the only one left with the balls to go higher, esp. bonuses.