first

Fiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiirst!

Primero

NY to 190
NY to 190

i am 11:52. i was first. in a bonus thread no less. things are looking up.

no IIII am 11 52. I was first.

yeah, NY TO 190!!

Sitting outside CLS Fed Soc event first...?

Based on all bonus memos so far I think Schulte is #1 in compensation for jrs and mid levels (except for Wachtel of course) , eventhough they have a 2000 hr minimum.

Why do firms seem to want to keep their positive salary announcements so secret? You'd think that if anything they'd be glad for such information to make the rounds.

Is the "we" shit getting worse, or am I just noticing it more now...

11:59, (1) they are not happy to make the announcement (more money out of their pockets and (2) their clients aren't happy because they figure rates may go up. Good news for associates and recruits, but not good for partners and clients.

LEEEEEEEEEEEEEROY JENKINS

"We" can be frequently used to represent organizations insofar as groups of people represent organizations. "We" can also be used to disguise the numbers of people involved or even inflate the numbers. "We" can also be used to display royally sociopathic tendencies.

You take your pick.

Otherwise, kwitcherbitchin' about "We".

schulte really did kind of rock

I heard some firms in Delaware give you an extra 10K for every 100 hours you go above the minimum. is that true?

Id rather have a higher salary and less bonus

NY to 190
NY to 190

In the immortal words of Henry Hill . . . "Fuck you. . . pay me"

any firm that has discretionary bonuses will not announce anything because they wont have a memo. they'll have a private conference with each attorney and let them know the deal. Bonuses don't affect recruiting anywhere near as much as starting salaries. they do help retention of mid levels and seniors, though...

not going to call out Latham again - but is there any word on Gibson Dunn and O'Melvany? Two more Cali firms with NY offices hanging out to dry.

why are people saying NY to 190? What proof of that is there?

why: no proof, just speculation and wishful thinking.

NY to 190
NY to 190

Okay, I'm a first-year at Latham and I just heard a certain unnamed partner on my floor saying that he can't believe they're going to be the first to raise. !!!!!!!!!

12:23: no.

It appears as though the LA Cartel is holding the line (we all know they're going to cave like they did with salaries . . . it's just a matter of time . . . or depression).

LA FIRMS TO FREE GRANDE AT STARBUCKS WITH PURCHASE OF VENTE OF EQUAL OR GREATER VALUE!!!

Although Clifford Chance / McKee Nelson associate firings are old news...this article came out today on bloomberg:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aRr7SXEHGIbk

I heard McDermott Will & Emery matched the special bonuses. Has this been confirmed or denied?

FIRST!!!!!

Scary--great post. Woke me up.

On the whole Schulte leading compensation comment, I'm curious what people think about that if things really slow down next year generally (and at Schulte in particular if hedge funds decline/blow up). I know 2000 hours isn't a whole lot, but I also know its not a guarantee for corporate associates during a slow down.

It also might be interesting to consider this graphic. Although there were a lot of tangential factors (read: 9-11), we (read: lawyers; law students) are directly affected by the economy. Remember, bonus's are based on past performance; salary is based on expectations.

http://www.bloomberg.com/apps/data?pid=avimage&iid=i7i0GI0iso48

Re: Hedge Funds....

They aren't going anywhere. Congress gets too much money from the industry for them to disappear.

Hedge Funds will get regulated - as opposed to the joke of a registration with the SEC that they do now. You know what hedge fund REGULATION means. It means MORE work for lawyers, and maybe a few less deals. Hedge Fund/PE shops should be getting psyched for the new wave of financial regulations... that just means a bigger piece of the pie for the legal world.

when will NYC firms and NYC offices of firms raise salaries to a number that other cities CANNOT match?? This clearly is what needs to happen in order to keep people there a bit longer and justify the longer hours, higher cost of living, etc. that makes people go elsewhere.
Is 190k really that number? Is 190k coming? I'd assume it's more like 200k.

after 8 years of big firm practice, i have yet to see a year in which 2000 hours wasn't a total layup. unless you are in totally superniched practice that blows up spectacularly like the cmbs monkeys, you have to be a total braindamaged clownshoe to not be asked to work 2000 hours.

if you can't get 2000 hours at a large NY firm, you are probably retarded, a terrible lawyer, someone nobody wants to give work to and should consider switching professions.

Google back to 700!

I hear, on very reliable authority, that a certain downtown firm with a large capital markets practice will be augmenting their bonuses with free mustache rides.

WGWAG

My cat's breath smells like cat food.

Go banana go!

It tastes like burning (upon eating poison berries)

I'm just hoping for a "thank you" from Jones Day. The annual $0 bonus for 2400 hours is nice, but a pat on the back and a "good job" would be sweet.

A Lat shout-out to the List of Shame? HOLLERRR.

NYC Bonus List of Shame

2008 Vault Rank
1
2
3
4
5
6
7
8 Latham & Watkins LLP
9
10
*11 Kirkland & Ellis LLP (Punted)
12
13
14
15 Wilmer Cutler
16 Williams & Connolly LLP
17
18 Gibson, Dunn & Crutcher LLP
19 O'Melveny & Myers LLP
20
21 Arnold & Porter LLP
22 Jones Day
23 Morrison & Foerster LLP
24
25
*26 Cadwalader, Wickersham & Taft (Punted)
27 Hogan & Hartson LLP
28 Mayer, Brown, Rowe & Maw LLP
29
30 Ropes & Gray LLP
31 Paul, Hastings, Janofsky & Walker
32
33 Akin Gump Strauss Hauer & Feld LLP
34 Winston & Strawn LLP
35
36 Wilson Sonsini Goodrich & Rosati
37 Linklaters
38 Orrick, Herrington & Sutcliffe
39
40
41 King and Spalding
*42 Morgan, Lewis & Bockius (Punted)
43
44 Baker & McKenzie
45 Baker Botts LLP
46 Boies, Schiller & Flexner LLP
47 Munger, Tolles & Olson LLP
48 Dechert LLP
49 Irell & Manella LLP
*50 McDermott, Will & Emery (Punted)
51 Jenner & Block LLP
52
53
54 DLA Piper
55
56 Fish & Richardson P.C. (Failed to Match)
57 Fulbright & Jaworski LLP
58 Pillsbury Winthrop Shaw Pittman LLP
59 Goodwin Procter LLP
60 Cooley Godward LLP
61 Alston & Bird
62 Heller Ehrman
63 Vinson & Elkins
64 Bingham McCutchen
65 Sonnenschein Nath
66 Greenberg Traurig
67
68 Holland & Knight
69 Steptoe & Johnson
70 Foley & Lardner
71 Kirkpatrick & Lockhart
72 Chadbourne & Parke
73 Hunton & Williams
74 Nixon Peabody
75 Thacher Proffitt
76 Bryan Cave
77
78 Perkins Coie
79 Stroock & Stroock & Lavan
80 Patton Boggs
81 Howrey
82 Reed Smith
83 Crowell & Moring
84 McGuireWoods
85
86 Arent Fox
87 Katten Muchin Rosenman
88 Finnegan, Henderson
89
90 Thelen Reid & Priest
91 Baker & Hostetler
92
93 Venable
94 Squire, Sanders & Dempsey
95 Kelley Drye & Warren
96 Dickstein Shapiro
97 Fenwick & West
98 Kilpatrick Stockton
99
100 Manatt, Phelps & Phillips
NR. McKee Nelson (Failed to Match)

--------------------------------------------------------------------------------------------------------------------

BONUS STATUS BY 2006 RPL
Rank 2006 in revenue
by revenue Revenue per lawyer
-------------------------------------------------------------------------------
1 Wachtell ABOVE MARKET $2,455,000 2.5%
-------------------------------------------------------------------------------
2 Sullivan & Cromwell MARKET & ABOVE MARKET FOR SENIOR ASSOC. $1,565,000 1.3%
-------------------------------------------------------------------------------
3 Wiley Rein $1,520,000 162.1%
-------------------------------------------------------------------------------
4 Cravath MARKET $1,355,000 5.9%
-------------------------------------------------------------------------------
5 Davis Polk MARKET $1,200,000 4.8%
-------------------------------------------------------------------------------
5 Simpson Thacher-MARKET $1,200,000 6.7%
-------------------------------------------------------------------------------
7 McKee Nelson BELOW MARKET $1,190,000 1.7%
-------------------------------------------------------------------------------
8 Milbank, Tweed MARKET $1,110,000 10.4%
-------------------------------------------------------------------------------
9 Skadden MARKET $1,095,000 10.1%
-------------------------------------------------------------------------------
10 Cahill Gordon MARKET $1,075,000 8.6%
-------------------------------------------------------------------------------
11 Fragomen, Del Rey $1,070,000 26.6%
-------------------------------------------------------------------------------
12 Gibson, Dunn $1,050,000 4.0%
-------------------------------------------------------------------------------
12 Irell & Manella $1,050,000 9.9%
-------------------------------------------------------------------------------
14 Kirkland & Ellis PUNTED $1,035,000 5.1%
-------------------------------------------------------------------------------
14 Paul, Weiss MARKET $1,035,000 0.5%
-------------------------------------------------------------------------------
16 Munger, Tolles $1,025,000 18.5%
-------------------------------------------------------------------------------
17 Quinn Emanuel $1,020,000 28.3% SLIGHTLY ABOVE MARKET BUT PARTIALLY DEFERRED
-------------------------------------------------------------------------------
18 Shearman & Sterling MARKET $1,010,000 2.0%
-------------------------------------------------------------------------------
19 Debevoise & Plimpton MARKET $1,005,000 8.6%
-------------------------------------------------------------------------------
20 Cadwalader BONUS ANNOUNCED, NO $ FIGURES $1,000,000 6.4%
-------------------------------------------------------------------------------
21 Boies, Schiller $980,000 3.2%
-------------------------------------------------------------------------------
21 Weil, Gotshal MARKET $980,000 2.6%
-------------------------------------------------------------------------------
23 Cleary Gottlieb MARKET $975,000 7.1%
-------------------------------------------------------------------------------
24 Willkie Farr MARKET $970,000 12.8%
-------------------------------------------------------------------------------
25 Williams & Connolly $955,000 2.7%
-------------------------------------------------------------------------------
26 Finnegan, Henderson $945,000 11.2%
-------------------------------------------------------------------------------
27 Townsend and Townsend $940,000 6.2%
-------------------------------------------------------------------------------
28 Fried, Frank $930,000 MARKET 4.5%
-------------------------------------------------------------------------------
29 Schulte Roth MATCHED W/ HOURS REQS. $925,000 6.9%
-------------------------------------------------------------------------------
30 Latham & Watkins $920,000 5.1%
-------------------------------------------------------------------------------
31 Wilmer Cutler $890,000 5.3%
-------------------------------------------------------------------------------
32 McDermott Will PUNTED $875,000 12.9%
-------------------------------------------------------------------------------
33 Kaye Scholer MARKET WITH POSSIBILITY OF MORE & PERF. REQS. $865,000 7.5%
-------------------------------------------------------------------------------
34 Arnold & Porter $855,000 4.9%
-------------------------------------------------------------------------------
34 Ropes & Gray $855,000 1.8%
-------------------------------------------------------------------------------
36 Choate, Hall $850,000 10.4%
-------------------------------------------------------------------------------
36 Kramer Levin MARKET W/ PERF. REQS. $850,000 6.3%
-------------------------------------------------------------------------------
38 Heller Ehrman $845,000 5.0%
-------------------------------------------------------------------------------
39 Akin Gump $840,000 7.7%
-------------------------------------------------------------------------------
40 Hughes Hubbard $835,000 12.1%

Not listed: Dewey (Market with hours requirement)
Clifford Chance (Market)
White & Case (Market)
Morgan Lewis (Punted)
Covington (Special Bonus - Regular Bonus not yet announced)
Sidley (Special Bonus - Regular Bonus not yet announced)
Freshfields (Market)
Allen & Overy (Market)
Proskauer (Market with hours reqs.)

--------------------------------------------------------------------------------------------------------------------

Bonus List of Shame
by NY Attorneys (Source: Crains)

1)
2)
3)
4)
5)
6)
7)
8)
9)
10)
11)
12)
13)
14)
15)
16) Wilson Elser
17)
18)
19) Latham & Watkins
20)
21)
22)
23)
24)
25) Greenberg Traurig

--------------------------------------------------------------------------------------------------------------------

Non-NY Bonus List of Shame:
(firms not matching in all domestic offices)

Firm (Offices that DID match)
1) Dewey & LeBoeuf (NYC)
2) Fried Frank (NYC)
3) White & Case (NYC)
4) Sidley Austin (NYC)
5) Covington & Burling (NYC)
6) Proskauer (NYC, LA, Boston)

hey 1:20 --

there's an art to billing just north of 2000. the retarded clownshoe is the guy who keeps on grinding for 2400 or until the partner gives him a hall pass. or the guy who wants to be a partner.

WH matched

I can only imagine WilmerHale didn't distribute memos because they don't want to create enmity in their DC/Boston offices.

160 makes about 3100 a week... how much is actually take home? is the summer different than full time?

1:29--
They were oozing berries.

L.A. 2L-- obviously you don't have a clue---suggest you take a tax course

answer it or don't

L.A. 2L - I was from out of state so I didn't get taxed at the city level and I opted for annualized withholding which increases the takehome at the time of payment.... it came out to just over $4K per 2 wks.

Chicago List of Shame
(by Vault rank)

11 Kirkland & Ellis LLP (Punted)
17 Sidley Austin LLP (No match in Chicago)
28 Mayer, Brown, Rowe & Maw LLP
34 Winston & Strawn LLP
44 Baker & McKenzie
50 McDermott, Will & Emery (Punted)
51 Jenner & Block LLP
54 DLA Piper

This is the correct list of shame:
NYC Bonus List of Shame

2008 Vault Rank
1
2
3
4
5
6
7
8 Latham & Watkins LLP
9
10
*11 Kirkland & Ellis LLP (Punted)
12
13
14
15
16 Williams & Connolly LLP
17
18 Gibson, Dunn & Crutcher LLP
19 O'Melveny & Myers LLP
20
21 Arnold & Porter LLP
22 Jones Day
23 Morrison & Foerster LLP
24
25
*26 Cadwalader, Wickersham & Taft (Punted)
27 Hogan & Hartson LLP
28 Mayer, Brown, Rowe & Maw LLP
29
30 Ropes & Gray LLP
31 Paul, Hastings, Janofsky & Walker
32
33 Akin Gump Strauss Hauer & Feld LLP
34 Winston & Strawn LLP
35
36 Wilson Sonsini Goodrich & Rosati
37 Linklaters
38 Orrick, Herrington & Sutcliffe
39
40
41 King and Spalding
*42 Morgan, Lewis & Bockius (Punted)
43
44 Baker & McKenzie
45 Baker Botts LLP
46 Boies, Schiller & Flexner LLP
47 Munger, Tolles & Olson LLP
48 Dechert LLP
49 Irell & Manella LLP
*50 McDermott, Will & Emery (Punted)
51 Jenner & Block LLP
52
53
54 DLA Piper
55
56 Fish & Richardson P.C. (Failed to Match)
57 Fulbright & Jaworski LLP
58 Pillsbury Winthrop Shaw Pittman LLP
59 Goodwin Procter LLP
60 Cooley Godward LLP
61 Alston & Bird
62 Heller Ehrman
63 Vinson & Elkins
64 Bingham McCutchen
65 Sonnenschein Nath
66 Greenberg Traurig
67
68 Holland & Knight
69 Steptoe & Johnson
70 Foley & Lardner
71 Kirkpatrick & Lockhart
72 Chadbourne & Parke
73 Hunton & Williams
74 Nixon Peabody
75 Thacher Proffitt
76 Bryan Cave
77
78 Perkins Coie
79 Stroock & Stroock & Lavan
80 Patton Boggs
81 Howrey
82 Reed Smith
83 Crowell & Moring
84 McGuireWoods
85
86 Arent Fox
87 Katten Muchin Rosenman
88 Finnegan, Henderson
89
90 Thelen Reid & Priest
91 Baker & Hostetler
92
93 Venable
94 Squire, Sanders & Dempsey
95 Kelley Drye & Warren
96 Dickstein Shapiro
97 Fenwick & West
98 Kilpatrick Stockton
99
100 Manatt, Phelps & Phillips
NR. McKee Nelson (Failed to Match)

i thought bingham was ranked 12, not 64...

NY to Mustache Rides!!!1111

LA 2L, don't take that advice.

I would rather get paid less money in NY if it meant other cities would get paid MUCH less

NY to **** in a box!

LA-2L
here's your calculation-assumin you are earning 3077 for 12 weeks with no other income for year and you are single

Fica-235.39 / wk
Federal taxes -482.42 / wk
California Tax-not sure but looks like-maybe $25/wk

NY non-residents still pay NYS taxes (not city though). They end up with a credit on their home-state tax return.

Non-NY Bonus List of Shame:
(firms not matching in all domestic offices)

Firm (Offices that DID match)

6) Proskauer (NYC, LA, Boston)

__________________________________

Why is Proskauer being included in this list? They matched in all the big offices--they're supposed to match in D.C., N.O., and Boca Raton too?

I bent my wookie.

La 2 L - if you have no exemptions (basically meaning single, no mortgage, no kids) and assuming the 160k scale, in CA you will take home a little under $6700 twice a month (will be less if paid ever two weeks because 2 extra paychecks) after fed, state, SS, disability, etc..

CORRECTION: La 2 L - you will take home around $4,400 twice a month - not $6700 - (Sorry, I was looking at the wrong number on my paycheck).

Hi Super Nintendo Chalmers!

La 2 L, use this calculator. It works great.

http://www.google.com/url?sa=t&ct=res&cd=1&url=http%3A%2F%2Fwww.paycheckcity.com%2FNetPayCalc%2Fnetpaycalculator.asp&ei=OU1DR-mSOKfKgQTd5q3ZAw&usg=AFQjCNGtmMsjS4uMmq3F9Xnwt5z-v4w56g&sig2=E3hQ96EJis7WJqwllVAmjA

Kirkland didn't punt.

hunton to 20k discretionary bonus! (aka, you aint gonna get it unless you hit 2200)!