Davis Polk Tells Associates ‘Thank You’ With Extra Special Gifts Forum

[LawyerEsq]

https://abovethelaw.com/2021/03/davis-p ... ial-gifts/

Are "special gifts" the new covid bonuses? Although this costs the firm a fraction of actual bonuses this seems like a great morale boost. Who will be the first to match?

[Anonymous User]

https://abovethelaw.com/2021/03/davis-p ... ial-gifts/

Are "special gifts" the new covid bonuses? Although this costs the firm a fraction of actual bonuses this seems like a great morale boost. Who will be the first to match?

Good on Davis Polk, I would love for my firm to do something nice for me that isn’t just a reaction to the market. I turned down an offer there for another V5 and I have to say seeing their approach to this kind of stuff (and their bonus leadership) makes me think I chose wrong.

[Anonymous User]

Nice gesture even if people would rather just get the cash value of these gifts. IDK, it seems small enough that there won’t be significant pressure elsewhere to follow?

Also: I’m a greedy incoming 2L SA at DPW, the firm should definitely cut us in on these “experiences” lol

[Anonymous User]

https://abovethelaw.com/2021/03/davis-p ... ial-gifts/

Are "special gifts" the new covid bonuses? Although this costs the firm a fraction of actual bonuses this seems like a great morale boost. Who will be the first to match?

Good on Davis Polk, I would love for my firm to do something nice for me that isn’t just a reaction to the market. I turned down an offer there for another V5 and I have to say seeing their approach to this kind of stuff (and their bonus leadership) makes me think I chose wrong.

$25 seamless budget tho

[Definitely Not North]

That’s pretty cool, good on them

[Anonymous User]

In some ways, I honestly like this idea more than cash. Given the reason for it, I think it's a really nice gesture to encourage some type of activity. Good on DPW--hoping this type of niceness continues to spread.

[Anonymous User]

That's a cool gesture and a little refreshing. Let's hope other firms match and up the ante. A $1000 Marriott gift card with a Tumi suitcase FULL OF CASH

[lolwutpar]

It's a cool gesture because the cash value is rather low. $1500 gross ain't gonna move the needle for me in any appreciable way (and not after taxes). I am out of touch, but it's the truth.

[ExpOriental]

This is a trap. Do not be fooled.

Taking e.g., the hotel gift card and the suitcase demonstrates your desire and intent to go on a vacation. This in turn demonstrates your flightiness and lack of willpower, and anyone who takes it should prepare themselves for The Talk.

The only correct maneuver here is to reject the offered "gifts," and to request one of these instead:

https://www.lifespanfitness.com/workpla ... mill-desks

[Anonymous User]

Pretty smart. I’m sure some of this is subsidized by the retailers. And a $1,000 bonus sounds like a “Fuck you,” but $1,000 shopping spree at Nordstrom or a hotel room and suitcase sounds kind of cool.

[Anonymous User]

https://abovethelaw.com/2021/03/grading ... t-bonuses/

I’d go for the Tumi + travel gift card. Or the ski package.

[Anonymous User]

Is anyone else wondering why other top firms haven’t followed here? I mean, these bonuses are nice and all but I’d feel guilty spending it on a tv and not my loans. So if they just handed me a fancy art tv, I’d be very happy.

But for what it’s worth I’m easily bought.

[Anonymous User]

This is a really nice gesture but I feel like they could be doing a lot more. See what the banks are doing: https://www.cnbc.com/video/2021/03/24/c ... %20discuss.

[NoLongerALurker]

This is a really nice gesture but I feel like they could be doing a lot more. See what the banks are doing: https://www.cnbc.com/video/2021/03/24/c ... %20discuss.

You linked to an article about banks giving 20k bonuses, but in the past month DPW also set the new special bonus scale (including giving more than double that to most associates). All that on top of the "extra special gifts" in this thread's subject. So, guess I'll chalk this up as a "DPW treats its associates better than other firms" point.

[Anonymous User]

Looks like Kirkland is going to try to do a knockoff version of this. We all received an “Associate Appreciation” email today, which previewed a short “town hall” that the firm will host later this week to tell us about the “variety of activities,” from “celebrity guest speakers to exciting giveaways,” that will be taking place over the next several weeks as a show of the partnership’s appreciation for our efforts.

I’ll keep an open mind on this, but I think it will turn out to be a bad look if this isn’t at least as good for associates as DPW’s $1-1.5k gift selections.

[Anonymous User]

Looks like Kirkland is going to try to do a knockoff version of this. We all received an “Associate Appreciation” email today, which previewed a short “town hall” that the firm will host later this week to tell us about the “variety of activities,” from “celebrity guest speakers to exciting giveaways,” that will be taking place over the next several weeks as a show of the partnership’s appreciation for our efforts.

I’ll keep an open mind on this, but I think it will turn out to be a bad look if this isn’t at least as good for associates as DPW’s $1-1.5k gift selections.

These bonuses sound like bad cable TV advertisements

[Anonymous User]

Do these gifts create tax liability?

[WFGhallager]

Looks like Kirkland is going to try to do a knockoff version of this. We all received an “Associate Appreciation” email today, which previewed a short “town hall” that the firm will host later this week to tell us about the “variety of activities,” from “celebrity guest speakers to exciting giveaways,” that will be taking place over the next several weeks as a show of the partnership’s appreciation for our efforts.

I’ll keep an open mind on this, but I think it will turn out to be a bad look if this isn’t at least as good for associates as DPW’s $1-1.5k gift selections.

These bonuses sound like bad cable TV advertisements

That applies to Davis Polk bonuses, too. Why do people keep bumping this thread? It is marginally good press for DPW at best.

[Anonymous User]

https://abovethelaw.com/2021/03/davis-p ... ial-gifts/

Are "special gifts" the new covid bonuses? Although this costs the firm a fraction of actual bonuses this seems like a great morale boost. Who will be the first to match?

Good on Davis Polk, I would love for my firm to do something nice for me that isn’t just a reaction to the market. I turned down an offer there for another V5 and I have to say seeing their approach to this kind of stuff (and their bonus leadership) makes me think I chose wrong.

$25 seamless budget tho

DPW still has only a $25 seamless budget? That's surprising given that at Shearman where I used to work, it was $30.

[Anonymous User]

Wow, those are low numbers. At Paul Hastings, which is about as cheap as it gets we have $40 budget, and they don't say anything under $50.

[Anonymous User]

Wow, those are low numbers. At Paul Hastings, which is about as cheap as it gets we have $40 budget, and they don't say anything under $50.

Good for them at PH. Dang, with $40, you could always get two big meals and save one for tomorrow's lunch or go for a nice steak dinner.

[Anonymous User]

Looks like Kirkland is going to try to do a knockoff version of this. We all received an “Associate Appreciation” email today, which previewed a short “town hall” that the firm will host later this week to tell us about the “variety of activities,” from “celebrity guest speakers to exciting giveaways,” that will be taking place over the next several weeks as a show of the partnership’s appreciation for our efforts.

I’ll keep an open mind on this, but I think it will turn out to be a bad look if this isn’t at least as good for associates as DPW’s $1-1.5k gift selections.

As part of this initiative, Kirkland just announced they will reimburse up to $1,000 per associate for meals purchased within the next 6.5 weeks (through the first week of June). 10 meals/$100 per meal max. Nice gesture.

[Anonymous User]

Looks like Kirkland is going to try to do a knockoff version of this. We all received an “Associate Appreciation” email today, which previewed a short “town hall” that the firm will host later this week to tell us about the “variety of activities,” from “celebrity guest speakers to exciting giveaways,” that will be taking place over the next several weeks as a show of the partnership’s appreciation for our efforts.

I’ll keep an open mind on this, but I think it will turn out to be a bad look if this isn’t at least as good for associates as DPW’s $1-1.5k gift selections.

As part of this initiative, Kirkland just announced they will reimburse up to $1,000 per associate for meals purchased within the next 6.5 weeks (through the first week of June). 10 meals/$100 per meal max. Nice gesture.

This is super awesome. I know my colleagues and I appreciate this.