The most prestigious law school admissions discussion board in the world.
|
 |
 
|
TTT SIMPSON MATCHES CRAVATTTH BONUSES - KILLS MARKET!
Poast new message in this thread
Date: November 24th, 2008 5:01 PM Author: Laughsome library cumskin Thanks Bush for the half bonuses everywhere! Who would have thought we would be looking fondly at Skadden as market leader?
ATL scooped again. |
 |
Date: November 24th, 2008 5:04 PM Author: blue medicated tank i don't see it on atl (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418776) |
|
Date: November 24th, 2008 5:05 PM Author: Laughsome library cumskin that's cause I pwned ATL once again. wait for it. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418781) |
|
Date: November 24th, 2008 5:27 PM Author: blue medicated tank there it is - impressive (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418858) |
|
Date: November 24th, 2008 5:05 PM Author: wonderful set affirmative action source? (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418784) |
|
Date: November 24th, 2008 5:06 PM Author: Laughsome library cumskin bonus announcement. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418787) |
Date: November 24th, 2008 5:18 PM Author: cerise well-lubricated sandwich Not surprising, Simpsons TTT practice has been foundering in this economic climate. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418837) |
|
Date: November 24th, 2008 5:20 PM Author: opaque violent mediation If the market is half-bonuses, does this make Skadden decadent or shrewd? (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418842) |
|
Date: November 24th, 2008 5:21 PM Author: Laughsome library cumskin Decadent definitely. Probably not shrewd. They are probably kicking themselves for not offering half bonuses too. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418844) |
|
Date: November 24th, 2008 5:23 PM Author: jet national The funny thing is they just did what everybody was expecting the market to do. I mean, that was the whole point of the retarded special bonus concept last year. I guess they just didn't expect Cravath of all firms to go totally lowball. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418848) |
|
Date: November 24th, 2008 5:22 PM Author: cerise well-lubricated sandwich at this point, decadent. if s&c, dpw, cleary, weil et al match skadden, and bonus structures such as kirklands are emphasized, then its shrewd. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418845) |
|
Date: November 24th, 2008 5:27 PM Author: spruce concupiscible sanctuary I dont think any of those will match Skadden (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418860) |
|
Date: November 24th, 2008 5:28 PM Author: cerise well-lubricated sandwich nor do i, but if they do it would change things. some firms have been putting out 'we've been kicking ass in this economy' memos, which seem incongruent with heavily slashing bonuses, but i imagine it still will go down like this anyway. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418868) |
|
Date: November 24th, 2008 5:28 PM Author: opaque violent mediation Is Simpson lockstep with no minimums? (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418869) |
|
Date: November 24th, 2008 5:45 PM Author: Laughsome library cumskin yes. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418930) |
|
Date: November 24th, 2008 6:29 PM Author: opaque violent mediation So it still might shake out that firms with minimum billables will pay 2007 market, while lockstep firms will pay half. Tough year to be a workhorse at a lockstep firm. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10419096) |
|
Date: November 24th, 2008 6:35 PM Author: Laughsome library cumskin I seriously doubt that. Most minimum billable firms are not New York firms and generally get dragged kicking and screaming to match NY compensation. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10419109) |
|
Date: November 24th, 2008 5:22 PM Author: wonderful set affirmative action it makes Skadden look short-sighted and like the market follower they traditionally have been. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418847) |
|
Date: November 24th, 2008 5:29 PM Author: Odious ticket booth dopamine Back when I was in school, Skadden was the only one at a $140k salary while the other firms were at $125k (but then they just lowballed on bonuses). (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418873) |
|
Date: November 24th, 2008 5:26 PM Author: racy toilet seat institution wow, working in NYC is for suckers. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418854) |
|
Date: November 24th, 2008 5:32 PM Author: spruce concupiscible sanctuary srlys...on top of this I've lost half of my 401k. Its not worth it. Secondary market here I come. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418882) |
|
Date: November 24th, 2008 5:57 PM Author: sapphire home Aren't many of the high-paying secondary markets in trouble? They may pay close to NYC salaries but the firms in secondary markets bill at much lower rates than NYC firms. These associates are generating far less profit for their firm than NYC associates, which would put them on the chopping block should the firm start layoffs. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418961) |
|
Date: November 24th, 2008 6:15 PM Author: flushed school cafeteria jew But corporations are now going to send more work to these cheaper firms. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10419041) |
|
Date: November 24th, 2008 5:45 PM Author: Laughsome library cumskin In the meantime the "prestigious foreign language" thread and the "girlfriend dumped me" threads have 130+ posts. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418928) |
|
Date: November 24th, 2008 5:59 PM Author: Very tactful theater stage circlehead srsly. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418969) |
|
Date: November 24th, 2008 5:56 PM Author: galvanic nofapping factory reset button psychic Let's wait and see what the other firms do. Simpson rushed to match cravath because it's a TTT firm that's leveraged 4:1 (thus having to pay 33% more bonus than its peers all things equal) and lost major clients this year.
S&C/DPW, otoh, have been going gangbusters in the crisis and hopefully will take this opportunity to separate themselves from the chumps. |
|
Date: November 24th, 2008 6:02 PM Author: Motley olive pozpig dont kid yourself. DPW is the same firm that tried to pay no bonus last recession.
cravath is screwed every associate in ny (and rest of the country, who will get pennies). |
|
Date: November 24th, 2008 6:09 PM Author: shimmering ladyboy spot Yes. That toilet Cravattth screwed us all. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10419012) |
|
Date: November 24th, 2008 6:11 PM Author: galvanic nofapping factory reset button psychic the associate comp landscape is so completely different from 2002 that it's not worth discussing. regardless, it stands that a) that year, DPW eventually matched, b) this year, skadden has already set a precedent, and c) DPW had an absolutely capital year in 2008 (http://abovethelaw.com/2008/09/davis_polk_making_bank.php#more). it's far from certain that DPW will match skadden, but the fact that cash-strapped TTTs like cravath and simpson low-balled doesn't foreclose the possibility. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10419021) |
|
Date: November 24th, 2008 6:35 PM Author: Motley olive pozpig dpw has never been a market leader. it doesn't matter if they had a great year. lots of firms are having great years. the point is that cravath has now given any firm to use the economy to given a lower bonus. and every firmw ill now fall in line -- it's over. skadden can be seen as be seen as an outlier, just like wachtell is an outlier.
|
|
Date: November 24th, 2008 6:40 PM Author: galvanic nofapping factory reset button psychic stop being annoying, all i said is wait and see (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10419132) |
|
Date: November 24th, 2008 7:00 PM Author: Motley olive pozpig sorry if reality is annoying to you.
i'd be happy if i am proven wrong. |
|
Date: December 1st, 2008 12:31 PM Author: Motley olive pozpig lol, so much for DPW having a "capital year" and paying half-skadden bonuses. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10444400) |
|
Date: November 24th, 2008 5:58 PM Author: obsidian infuriating scourge upon the earth are they actually slow on work? don't they have the gov't contract? they were the best bet to match skadden. the only other firm maybe Weill with their bankruptcy practice. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418964) |
|
Date: November 24th, 2008 5:59 PM Author: cerise well-lubricated sandwich they are getting paid next to nothing on the government contract. they also did a lot of work for lehman. they have been ttt this year, were not a good bet to match skadden. this is an aggressive move to set market to discourage peer firms from matching skadden. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10418971) |
|
Date: November 24th, 2008 6:03 PM Author: Motley olive pozpig every firm is slower but in a position to match skadden.
the point is if cravath didn't come in and shit all over it, then everyone would be all paying $35k. |
|
Date: November 24th, 2008 6:22 PM Author: Odious ticket booth dopamine Basically, the more a firm's PPP grew over the last three or four years, the more that firm is taking a hit this year. Securities and M&A and related matters have contributed to most if not all PPP growth.
(Except for some isolated cases like Quinn.) |
|
Date: November 24th, 2008 6:14 PM Author: obsidian infuriating scourge upon the earth who did this:
http://abovethelaw.com/2008/11/associate_bonus_watch_simpson_2.php#comment-844268
earl do you have a source at every major firm? |
|
Date: November 24th, 2008 6:18 PM Author: Motley olive pozpig um if you're a lawyer, you're likely to have friends at every major firm who will gchat you the second they get the bonus memo.
many people knew about skadden, cravath, and simpson before ATL. |
|
Date: November 24th, 2008 8:03 PM Author: arousing alcoholic indian lodge This sucks. My firm, a V30 and ttt in comparison to CSM and STP was set to pay the skadden bonus. They told us multiple times that they had budgeted for that bonus and was just waiting for the market to be set. Now, they'll most likely go to the CSM model. Thanks CSM. The only thing that may save us is the fact that we've got a billable-based bonus cut off. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10419353) |
|
Date: November 24th, 2008 10:09 PM Author: Laughsome library cumskin like the crosses on mount calvary. (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10420182) |
|
Date: November 25th, 2008 1:42 PM Author: Self-centered Vivacious Cruise Ship Azn ttt (http://www.autoadmit.com/thread.php?thread_id=890351&forum_id=2#10422912) |