1

A whopping $10k (before taxes) for an additional 300 hours? Geez, that sucks.

COME. ON. S&C.

Fif! Eat my ass #20!

1

Associates who bill 3,000+ hours / yr don't care whether they get an extra fat bonus because they don't have time to spend the extra $$

in my day we received a carton of cigarettes and a hooker as a bonus and if you were really lucky you got to shake the name partner's hand...what happened?

-old partner dood
llb '52

That does not suck #4, that's a totally baller $33.33 an hour (before taxes). Law school was a great investment!

I want to get me come of that juicy Scavath...... mmmmmm

11th!

FIRST to say that 8 is the best new schtick on atl...suck it count layoffula.

4, you're right. that's only $33.33 an hour. members of the UAW get more than that working for the Big Three.

BIG LAW ASSOCIATES TO FEDERAL BAIL OUT MONEY!!!!!!!!!!!!!!

4: Except for 1 or 2 others who have said they will pay an unspecified amount to certain high billers, its better than what other firms are paying associates who bill those high numbers. They're paying a whopping nothing.

Associates who bill 3,000+ hours / yr don't care whether they get an extra fat bonus because they don't have time to spend the extra $$

WHOA IS ME!

3,
It ain't great, but it's better than the $0 (also before taxes) you get at almost any other firm.

You are not your bonus, you are not how much money you have in the bank and you are not your f''ing khakis

I don't check in daily ... can someone post a round of all the firms that have announced so far and their positions: Skadden, half-Skadden, or some other scheme? Thanks!

so those "high billers" are getting paid less than $35/hr for their extra work? Those guys must not be very good at math.

Okay, now I'm pissed.

-- PW Associate who billed 3k this year.

3,000 hours? My goodness. I can't even imagine the hour padding going on there.

good post mystal

Schtick's are for dicks who live their mothers and order them to make meatloaf.

21, did you know that Paul Weiss was a lockstep firm before you joined?
If not, you're a retard.
If yes, shut your whining.

This type of story is not news anymore.

Mystal is so eager to make Cravath and all of it followers look bad that he neglects to mention that if you bill less than 2000 hours at Schulte, you get $5000 or $10,000, WAY LESS THAN "Half-Skadden." Seriously, Elie is a Cravath hater douchebag who misrepresents the facts. This blog is so biased and sucks.

23- is an idiot

20 - If the work is there... its not like you can say... "Sorry Partner X, I don't think I'm going to do this because though I'm being billed out at several hundred dollars an hour, I'm only getting about $35/hour pretax in return at this point since Im over 2000 hours on the year. That's just not a good deal for me." If you have work to do, you have to do it. It's just nice to see something extra, no matter how much it is... especially since colleagues at other firms are getting nada for working the longer hours.

23 = Elie

3,
It ain't great, but it's better than the $0 (also before taxes) you get at almost any other firm.

"'special' padded room" - I like that. How about an "extra-special" padded room for those of us who haven't had any work to do for the past two months?

I <3 Count Layoffula and old partner

They even give a guaranteed bonus for those with less than $2,000. Classy, unlike everyone else with billable requirements who gives absolutely nothing.

what qualifies as "target hours"?

8=======)

20, you think high billers can just turn away work?
You must not be very good at staying employed.

33 - that's a scam. All associates with less than 2,000 hours have been stealth-laid off already.

So at 2300 hours, SRZ first years get $37,500 on top of $160,000 base and that is considered weak???? All things considered, whiners on here are unreasonable.

wow lots of internet badasses on here. relax 27, i liked his struck out reason/duty and padded room comments. you may feel like cravath is getting pissed on, but like it or not, they significantly lowered the market when even the huge behemoth *skadden* could afford to pay twice that.

- 23, not elie

33 - that's a scam. All associates with less than 2,000 hours have been stealth-laid off already.

Is Schulte Roth a law firm? I thought it was a German engineering brand.

23 = Elie

Sorry. Am I supposed to feel bad for these people who, in bonus alone, are making more than many people working harder and in worse conditions? You know, people who actually put in a hard days work that doesn't involve pushing paper? Be grateful already. Shut your traps. You signed up to be abused, and if this is as bad as it gets then you are truly blessed.

Sorry. Am I supposed to feel bad for these people who, in bonus alone, are making more than many people working harder and in worse conditions? You know, people who actually put in a hard days work that doesn't involve pushing paper? Be grateful already. Shut your traps. You signed up to be abused, and if this is as bad as it gets then you are truly blessed.

42 = trig palin

What you people aren't realizing is that very few people at Schulte will even hit 2,000 hours so the firm won't be paying much of this out.

I'd take an occasional hooker (monthly? biweekly?) over a bonus, assuming they're hot.

To 22: (regarding 3k hours).

It is possible to bill that much legitimately. My first two years as an associate, I did that (with no padding, I assure you). I worked nearly every night to near midnight, did a full all-nighter at least once every week and a half, came in every Sunday for 5-7 hours (and some Saturdays too).

Eagle

S&C JUST MATCHED SKADDEN!!

38 -- Learn to add. It takes 2500 hours to get a first year $37,500 bonus. 2300 hours gets you $27,500.

49- what glee do you get out of making up some fucking stupid rumor that no one ever would believe? go fuck yourself you stupid moron.

49 = Fool me once...

Its Bush's fault! And the Israelis too of course.

49- what glee do you get out of making up some fucking stupid rumor that no one ever would believe? go fuck yourself you stupid moron.

I'm amazed to read the comments from all the associates thinking they are the partners' slaves, not able to manage their own workload by turning away work when they are busier then they would like to be. They must feel that they are powerless and that the partners own them. How pathetic and sad.

Then, when they are thrown a bone (i.e. $20k "bonus") after letting those same partners steal their lives (i.e. work 3k hours), they come on this blog and try to defend this system. Some even argue that associates should feel happy to make this much money, as if making the money is the incentive for this additional work. It's irrational.

This must be a variation of Stockholm syndrome.

Who is ROD PAMPERS?

wtf bills 3000 hours in this economy? Especially if you are not padding. That is insane, shame about the bonuses. You folk need to tone it down a bit. Turn down extra work. Take your significant others out for a night on the town. Play with your children.

I don't know why everyone is hatin' on the extra bonus for extra hours. No other firm rewarded those that worked harder. Props to Schulte.

43/44 -- did those people invest $100k+ in education and 3 additional years of their lives to get their jobs? Didn't think so. Never compare this professional culture to Joe the Plumber or the guy pushing asphalt, because it isn't even comparable.

47 = Nervous T10 1L

59- agreed. 43/44 go back to your minimum wage job. why would you even be on this site in the first place? this is just another example of why the economy is in the shitter- people like you making decisions.

BTW, as for this purported $20k bonus for working 3000 hours, I've never heard of that at SRZ. It's certainly not part of the bonus memo (though it does make sense, consistent with the escalator structure). I'm glad I don't know from experience.

How much $$ did the summer associate who put the partner in a headlock get?
http://abovethelaw.com/2008/06/summer_associate_of_the_day_ra.php

Litigators will hit 2300. Transactional attorneys may not even hit 2000.

Not that its anyone's fault or to anyone's credit, but this is SRZ's way of compensating people who put in longer hours. Transactional attorney's will have far less work and will therefore have more free time. Attorneys who still have to work through treacherous hours shouldnt be dragged down just because the corporate practices are slow.

Could this be the case? Shouldn't more firms do this? I'm asking not telling....

SkaTTT-TTTon

At what point will you realize how stupid you sound pontificating about a "market rate" set by one firm? Why not call Skadden's bonus a "quarter Marty" in honor of our generous friends at Wachtell?

You're not Lat. You're not even a competent blogger yet. Please just stick to the basics.

in past years, the associates who do not make 2,000 hours got $10k across the board.

in past years, the associates who do not make 2,000 hours got $10k across the board.

This bonus structure is the worst so far. 2000 hour requirement in this economy or you get basically nothing?

Those "special" bonuses are for special people. $33/hour is so win.

63, that kid got no-offered and escorted out by security on his last day.

first, there is no extra 20,000 for 3,000 hours.

second, srz - like many other firms - has always had the 2,000 minimum.

third, for all those people who are criticizing the extra 10,000 for 2,300 and 2,500, respectively, just think about all the people who billed 2,500 at cravath, pw, dpw, simpson, etc. and don't get the extra 20,000.

The thing that gets me about all this is that you know the members of the Cravath Compensation Committee (if they have such a committee) smiling about all this and slapping each other on the back at the success of their bonus-lowering gambit. Other firms would have followed Skadden but for Cravath.

PAUL WEISS SUCKS!!!!!!

66=Cravath-hole

Hey: 59, 61 - SUCK IT. You know its true that people who take these jobs have no right to complain about compensation. What? The $165K STARTING SALARY isn't enough for you to live on even with debt? It's more than adequate. Your argument holds no water. You are all just pissed because your fragile egos were the real victims here. Why don't you go back to your real jobs - being low level associates who only do discovery and doc review (oh, when there's work) - and stop trying to convince the rest of us that your anger is in anyway justified. Sad and pathetic. If that bonus is so measly, why not donate it to a charity that needs it. Oh, and lest we forget: it is people like who you claim to be who have been making all the decisions in this country - and it is the decisions of people like you who have ruined things. Angry, insecure people who think they have something to prove are deadly.

Would someone who bills 3000+ hours be considered a BALLER at Schulte and Zabel? I'm talking popping bottles of Dom P at da club kind of baller.

75 - Pardon if I say so, but you sound pretty angry and insecure dude (or ma'am).

75 - Let me get this straight... You troll a blog for LAWYERS and then spew your inflammatory bs and that what... makes you cool? If you have such issues, go elsewhere. Clearly, unless you work in Biglaw and put in the type of hours people are talking about, you have absolutely ZERO credibility when it comes to commenting about getting a small bonus at the end of the year.

Shulte PAWNED its associates. PAWN SHOP.

Yeah. It's me.

It's official. Debevoise just went half Skadden. You heard it here first.

SRZ - you want a Paul Weiss 5th year? I billed 2800 so far this year. I want to work at a firm that will reward hard work.

I have no opinion on this firm's bonus structure.

Ed Stimes

81: Paul Weiss 2nd year with 3000 plus hours....I'm with you

Schulttte Rottth & Zabel

81 and 83, I am with you. Who in their right minds would ever write down less than 2800 hours in an environment like this? Hey ass clowns out there, you still have like three weeks left. Find out who has a case or a deal going, and write down 600 hours on it for December. Another tip, find out who has lots of "unbilled time," like on a contingency matter or success fee matter. If the time is not billed, often you can have your sec'y go into the billing software and write down hours for previous months. That is often the way to go, because you can add another eight or nine hundred hours without anyone noticing. HTH.

UNLESS YOUR LIFE"S AMBITION IS TO WORK FOR THE CERBERUS LEGAL DEPARTMENT GO TO ANOTHER FIRM

All Cerberus transactional group will get bail out money to pay their bonuses. Very strict target for bonus so it will not be easy to get paid. Hedge fund group obviously not a strong year.

55 - keep in mind that a lot of biglaw associates have pretty low self-esteem and high aversion to risk... that's why they're in biglaw.

Yeah, I heard from a friend who works there that they have been doing stealth layoffs pretty much since the start of the slow-down. Also, she mentioned they have a couple of partners in their hedge fund practice who make it downright impossible for some to hit the 2000 mark . . .

Yeah, I heard from a friend whose been there a while they have been doin stealth layoffs for a while now. Also, she mentioned they have a couple of real a*holes in their funds practice who make it near impossible for some to hit the 2000 mark. Thanks to big papa Cerberus, the transactional group is a different story. 37 is right about this sounding bogus.

86 is right . . . schulte's clients suck.

89/90 is right. i heard schulte's been doing stealth layoffs all year based on "performance." i heard if you sneeze the wrong way, you lose your job.