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Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 3:53 pm
by Rocketman11
Cravath bonuses this year:
Class of 2008 — $7,500
Class of 2007 — $10,000
Class of 2006 — $15,000
Class of 2005 — $20,000
Class of 2004 — $25,000
Class of 2003 — $30,000
Class of 2002 — $30,000
Cravath 2007 bonuses:
Class of 2007: Year-end bonus 35K, no special bonus
Class of 2006: Year end 35K, special 10K
Class of 2005: Year end 40K, special 15K
Class of 2004: Year end 45K, special 20K
Class of 2003: Year end 50K, special 30K
Class of 2002: Year end 55K, special 40K
Class of 2001: Year end 60K, special 50K
Class of 2000: same as 2001
http://blogs.wsj.com/law/2009/11/02/tis ... us-period/
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 3:58 pm
by redsox
I think the second set of numbers you posted is from two years ago, not last year.
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 4:01 pm
by Rocketman11
redsox wrote:I think the second set of numbers you posted is from two years ago, not last year.
Ah thanks, fixt
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 4:07 pm
by IAFG
cravAth
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 4:08 pm
by Oban
Seems like it's CravaTTTh ITE. :
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 4:09 pm
by Rocketman11
IAFarmgirlinDC wrote:cravAth
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 4:13 pm
by bluejayk
An effective drop in salary of 20-30% for even lawyers at the most successful firms shouldn't matter if you really love the law.
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 4:14 pm
by IAFG
bluejayk wrote:An effective drop in salary of 20-30% for even lawyers at the most successful firms shouldn't matter if you still have a job.
ftfy
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 4:15 pm
by Rocketman11
IAFarmgirlinDC wrote:bluejayk wrote:An effective drop in salary of 20-30% for even lawyers at the most successful firms shouldn't matter if you still have a job.
ftfy
who hides their online status, yet has a self tar?
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 4:20 pm
by IAFG
u happy?
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 4:30 pm
by Rocketman11
IAFarmgirlinDC wrote:u happy?
pathetic excuse to fit in with the tiger tar clubhouse.
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 4:50 pm
by IAFG
can you focus in your OWN THREAD?
big law firms pay generous base salary. it only makes sense that in lean times, bonuses shrink. comparing lean times to fat times only shows that big law firms are feeling the pinch like everyone else, which in the case of cravath was evident when they deferred associates and scaled back hiring.
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 5:00 pm
by bilbobaggins
Shit, looks like it'll be the standard E320 instead of the AMG. Sucks for lawyers.
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 5:03 pm
by Leeroy Jenkins
IAFarmgirlinDC wrote:can you focus in your OWN THREAD?
big law firms pay generous base salary. it only makes sense that in lean times, bonuses shrink. comparing lean times to fat times only shows that big law firms are feeling the pinch like everyone else, which in the case of cravath was evident when they deferred associates and scaled back hiring.
NO when the lean times come the support staff should be laid off to support my phat boni.
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 5:09 pm
by James Bond
OMFG BIG LAWWWWWWWWWWWWW
...nope...don't give a shit that the overpaid are less paid
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 5:09 pm
by GatorBait09
bilbobaggins wrote:Shit, looks like it'll be the standard E320 instead of the AMG. Sucks for lawyers.
If you're working for Cravath you better not even be considering an E-Class ($50k). S, SL, CL, and CLS is what you should be reasonably aiming for...all AMGs if you're a real man.
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 5:10 pm
by James Bond
GatorBait09 wrote:all AMGs if you're a real man.
QFT
Likewise, you should be getting M's if you're a BMW guy and S's if you're an Audi person
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 5:54 pm
by nealric
Shit, looks like it'll be the standard E320 instead of the AMG. Sucks for lawyers.
Lol at the idea that Cravath associates are rollin in benzos (at least the junior ones). That 160k becomes about 90k post tax - 30k student loan payments = 60k after tax income. Not starving, but not benzo money (unless you are overextending yourself). With job security as it is, you would be a fool to make any big purchases.
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 5:59 pm
by GatorBait09
nealric wrote: Shit, looks like it'll be the standard E320 instead of the AMG. Sucks for lawyers.
[/qupte]
Lol at the idea that Cravath associates are rollin in benzos (at least the junior ones). That 160k becomes about 90k post tax - 30k student loan payments = 60k after tax income. Not starving, but not benzo money (unless you are overextending yourself). With job security as it is, you would be a fool to make any big purchases.
Or they could be leasing the car, which in that price range, is always a better idea than buying (at least IMO).
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 6:05 pm
by mochafury
No new hire in NYCBigLaw gets a car anyway...who wants to pay for parking and the resulting psych sessions from not being able to find parking?
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 9:53 pm
by Oblomov
GatorBait09 wrote:Or they could be leasing the car, which in that price range, is always a better idea than buying (at least IMO).
Almost always worse, unless you happen to win in betting against the residual value.
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 9:55 pm
by MC Southstar
...
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 9:58 pm
by Leeroy Jenkins
shadowfrost000 wrote:My bonus this year: $5000, whee. >_>
ooo i got $5000 bonus last year too!
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 9:59 pm
by MC Southstar
...
Re: Bonus Rollout (alternate title: law is boned)
Posted: Mon Nov 02, 2009 10:03 pm
by Leeroy Jenkins
shadowfrost000 wrote:I'm saving it up for (hopefully) a month long European backpacking trip.
I paid off my loans.
