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Bonus/Salary Meeting at Venable

Venable logo.jpgVenable is generally not a market leader when it comes to associate bonuses or salary. In fact, they usually don’t announce their bonuses until January.

But today at 3:00 p.m. associates have been called in to discuss “the firm’s 2008 results and outlook for 2009.”

Kirkland had a meeting today to discuss the obvious, and maybe Venable is doing the same thing. But a tipster is at least slightly concerned about the need for today’s festivities:

Considering that we don’t usually hear anything about bonuses or salaries until January (and we’re definitely NOT market), it should be interesting to see what goes down at this meeting.

Our tipster is concerned because of Latham. So far, top firms haven’t followed Latham’s salary freeze lead. But some firms do seem to be hedging their bets and putting off decisions until January.

By the end of today, we should know where Venable stands.

Earlier: Nationwide Pay Raise Freeze Watch: Latham & Watkins

Comments

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1 Posted by guest | Permalink Tuesday, December 23, 2008 11:46 AM

first?

also wtf is venable?

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2 Posted by guest | Permalink Tuesday, December 23, 2008 11:47 AM

no JB?

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3 Posted by guest | Permalink Tuesday, December 23, 2008 11:48 AM

or JD?

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4 Posted by guest | Permalink Tuesday, December 23, 2008 11:49 AM

venable gets a thread and JD doesnt. MYStttAL

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5 Posted by guest | Permalink Tuesday, December 23, 2008 11:52 AM

@ 3:

I'm tired of you Jones Day fucks. If you have news, send it to ATL.

I don't think you do. I think you're as full of shit as your IP partners are before the court.

So quit your bitching, bitches.

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6 Posted by guest | Permalink Tuesday, December 23, 2008 11:53 AM

5, suck it.

love, JD

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7 Posted by guest | Permalink Tuesday, December 23, 2008 11:56 AM

6, suck it. 5 is right.

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8 Posted by guest | Permalink Tuesday, December 23, 2008 11:56 AM

Any news about the other Philly and NJ based firms?

I'm thinking of Duane Morris, Ballard Spahr, Blank Rome, Pepper Hamilton, McCarter & English...?

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9 Posted by guest | Permalink Tuesday, December 23, 2008 11:58 AM

5 = kirkland troll who is pissed that many JD associates make more than him.

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10 Posted by guest | Permalink Tuesday, December 23, 2008 12:00 PM

5 - I'm not your bitch, bitch.

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11 Posted by guest | Permalink Tuesday, December 23, 2008 12:02 PM

9,

If 5 is that troll, he's got nothing to worry about if he's in DC. Again, inexplicably it's the red-headed stepchild of JD offices, no bonuses, no extra salary increases. Just the shaft.

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12 Posted by guest | Permalink Tuesday, December 23, 2008 12:07 PM

JD sucks balls. At least Venable still has some prestige. JD is a toilet for other toilets.

Suck it.

V&E4y

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13 Posted by guest | Permalink Tuesday, December 23, 2008 12:11 PM

I think I caught a bad case of venable from a loose Italian CWT NY 05 female associate. Anybody have some extra cream?

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14 Posted by guest | Permalink Tuesday, December 23, 2008 12:14 PM

what's the source of this CWT NY 05 talk?

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15 Posted by guest | Permalink Tuesday, December 23, 2008 12:15 PM

12-
V&E rocks.
-incoming summer

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16 Posted by guest | Permalink Tuesday, December 23, 2008 12:18 PM

14: Some dude a while back kept talking about what his amazing CWT NY 05 girlfriend was telling him.

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17 Posted by guest | Permalink Tuesday, December 23, 2008 12:31 PM

The poeple who bitch about JD are the lousy associates who do crappy work and want a big bonus for producing such work.

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18 Posted by guest | Permalink Tuesday, December 23, 2008 12:32 PM

@16: thnx

-14

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19 Posted by guest | Permalink Tuesday, December 23, 2008 12:33 PM

Best Firm To Work For: GDC

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20 Posted by guest | Permalink Tuesday, December 23, 2008 12:34 PM

Wait,, is this a thread on JD? Cause for associates who dont suck it pays as much as Skadden and more than Kirkland.

Just thought that might interest some people. Guess not. Oh well.

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21 Posted by guest | Permalink Tuesday, December 23, 2008 12:35 PM

Any more news out of DC?

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22 Posted by guest | Permalink Tuesday, December 23, 2008 12:37 PM

1. Gibson 2. Skadden 129. Latham

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23 Posted by guest | Permalink Tuesday, December 23, 2008 12:43 PM

I am going to be a summer at JD, and I as hoping to get a straight answer (sorry to thread jack). I wanted to work at JD, I actually liked everyone I met there. My impression from the attorneys I met, and some other people I talked to, is that the firm takes care of people that work hard and produce quality work. This sounded fine to me. I hear people complain about the fact that not everyone makes the same salary based on year or same bonus based on year, but that the partners you work for evaluate the actual work people do, and you essentially get paid for what you produce. Is this accurate, and if so, what is there to complain about? It seems like a solid business model where associates don't get paid for padding hours or producing garbage.

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24 Posted by guest | Permalink Tuesday, December 23, 2008 12:46 PM

20: "Wait,, is this a thread on JD? Cause for associates who dont suck it pays as much as Skadden and more than Kirkland."

In my experience, the population you describe totals zero.

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25 Posted by guest | Permalink Tuesday, December 23, 2008 12:48 PM

23- Thats about accurate.

We as associates don't know what happens to other people (i.e. whether some people are shortchanged unfairly) but I have been more than happy so far.

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26 Posted by guest | Permalink Tuesday, December 23, 2008 12:52 PM

24 - Nope there are at least some if us,

I dont wonder though if the JD people posting on this recently are disproportionately the happy associates. No way to tell really. =/

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27 Posted by guest | Permalink Tuesday, December 23, 2008 12:53 PM

Your tipster re Venable is an idiot.

Today at 3pm, "a brief all lawyer meeting" will be held, during which time the HMFIC will "discuss the firm's 2008 results and outlook for 2009. "

This meeting has very little to do with associates.

You may now resume your JD-bashing.

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28 Posted by guest | Permalink Tuesday, December 23, 2008 1:01 PM

I'm a 2L still trying to decide between JD and another firm. Any advice?

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29 Posted by guest | Permalink Tuesday, December 23, 2008 1:01 PM

I'm a 2L still trying to decide between JD and another firm. Any advice?

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30 Posted by guest | Permalink Tuesday, December 23, 2008 1:07 PM

@28 If death is an option, then please kill yourself. If death is not an option, then please go work for the Cuyahoga County PD's office.

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31 Posted by guest | Permalink Tuesday, December 23, 2008 1:09 PM

28 - if it is between JD and Latham go to JD

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32 Posted by guest | Permalink Tuesday, December 23, 2008 1:11 PM

30-
what the hell is your problem? I just noticed that people on this thread were talking about Jonesday, and that's one of the firms from which I have an offer, so I wanted to see if anyone would chime in and give me some advice. and 31, it's not Latham - don't know who they are, but they weren't at our OCI (Cleveland State)

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33 Posted by guest | Permalink Tuesday, December 23, 2008 1:16 PM

1:11, you should be grateful you have an offer coming from Cleveland STTTaTTTe. Where is this Cleveland place, anyway?

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34 Posted by guest | Permalink Tuesday, December 23, 2008 1:17 PM

33-
plenty of Cleveland State alumni work at Jonesday

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35 Posted by guest | Permalink Tuesday, December 23, 2008 1:22 PM

JD Ohio offices are dying a slow death. Virtually no local clients, so everyone just services other JD offices. The lawyer headcount in Ohio is lower now than it was 10 years ago. All the decent lawyers have been transferred to other offices.

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36 Posted by guest | Permalink Tuesday, December 23, 2008 1:25 PM

33:
I got plenty of offers. I just haven't decided which firm because the firms wanted to "call me back" to their offices to meet everyone who I would be working with, and I wanted to postpone that until after the semester was over, so now my project during winter break is to go on these "callbacks" and meet everybody and decide which firm I want to work for

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37 Posted by guest | Permalink Tuesday, December 23, 2008 1:26 PM

jones day cleveland does not pay bonues. it has not paid bonuses in a decade (I summered there and am still good friends with current and former associates there). good IP litigation practice there, though. (low overhead - clients love that.) very formal environment, though.

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38 Posted by guest | Permalink Tuesday, December 23, 2008 1:32 PM

#30

Is Cuyahoga County PD's office looking?

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39 Posted by guest | Permalink Tuesday, December 23, 2008 1:36 PM

JD Chicago and JD New York are fine, they actually paid bonuses, and this year, in lieu of a bonus, gave extra large base salary bumps equivalent to a bonus.

But at JD DC, they don't do bonuses, and didn't give the extra salary increases this year. No explanation, but it's understood than the partner in charge at JD DC doesn't believe in bonuses, and morale or recruiting problems as a result be damned. It's quite arbitrary and unfair, but that's the JD DC way.

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40 Posted by guest | Permalink Tuesday, December 23, 2008 1:44 PM

JD Chicago is wonderful - some of the nicest people I met on my callbacks

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41 Posted by guest | Permalink Tuesday, December 23, 2008 2:04 PM

@38 They're like 7/11, they may not always be doing business, but they're always open.

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42 Posted by guest | Permalink Tuesday, December 23, 2008 2:15 PM

Jones Day New York and California offices gave huge base salary bumps in lieu of the market or above-market base plus bonuses that were recently paid to some of the associates on a case-by-case basis. These associates now make base what other big firms are paying as base plus bonus. I'd take that any day. JD is a great place, there's plenty of work to go around, and it is one of the few firms that is still able to grow and be successful, even in the current economy. To me it's a no brainer.

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43 Posted by guest | Permalink Tuesday, December 23, 2008 2:17 PM

suck my balls

44 Posted by Solo Guy | Permalink Tuesday, December 23, 2008 2:23 PM

Wow, ATL reporting on a no-name firm that's even smaller than mine!

Now excuse me while I cut another lime wedge for my next Corona. Trying to get another 50 hours in this year for that extra $10k+, y'know.

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45 Posted by guest | Permalink Tuesday, December 23, 2008 2:47 PM

Anything about Andersen Kill bonuses?

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46 Posted by guest | Permalink Tuesday, December 23, 2008 3:08 PM

Is this firm pronounced "Ven-a-bull," or is it more like the French would say it "Venab"?

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47 Posted by guest | Permalink Tuesday, December 23, 2008 3:17 PM

27 here.

I was wrong.

Happy Holidays!

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48 Posted by guest | Permalink Tuesday, December 23, 2008 3:19 PM

46 - "Ven-a-bull"

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49 Posted by guest | Permalink Tuesday, December 23, 2008 3:32 PM

47? news?

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50 Posted by guest | Permalink Tuesday, December 23, 2008 4:14 PM

Venable = Latham

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51 Posted by guest | Permalink Tuesday, December 23, 2008 4:23 PM

"So far, top firms haven't followed Latham's salary freeze lead."

This sentence is no longer true.

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52 Posted by guest | Permalink Tuesday, December 23, 2008 4:34 PM

51 - um, names?

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53 Posted by guest | Permalink Tuesday, December 23, 2008 4:47 PM

news?

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54 Posted by guest | Permalink Tuesday, December 23, 2008 8:32 PM

Can't believe this even made it on ATL. Venable is a third tier firm who tries to paint itself as first rate by paying its 1st years 160 but then pays its 3rd and 4th years 170. Give me a break.

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55 Posted by guest | Permalink Tuesday, December 23, 2008 9:43 PM

Venable announced a 2009 salary freeze today at the meeting.

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56 Posted by guest | Permalink Tuesday, December 23, 2008 10:36 PM

54 - so nice of you to use your timemachine to post here all the way from 2006.

One would think fiscally conservative policies related to salaries in an environment where law firms are going under like investment banks would be viewed with a little less smugness. But, then again, you're probably a law student anyway.

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57 Posted by guest | Permalink Wednesday, December 24, 2008 9:39 AM

Happy Holidays to everyone who still has a job.

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58 Posted by guest | Permalink Wednesday, December 24, 2008 12:09 PM

23--

If the client doesn't wanna pay the bill, or wants a discount, or whatever, then they're gonna get it. But, the partner doesn't wanna look like they're bringing in low-end work, so it's the associate's fault (bad quality work or too much time spent). Amazin' how much that happens.

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