S&C Bonus Watch: What Does an Associate Bonus Look Like?
I think I speak for many ATL readers and Biglaw followers when I ask: when the heck is S&C going to announce its 2008 associate bonuses?
Because the delay is getting ridiculous. It’s December 15th. All of S&C’s peer New York firms have announced already, except for Weil — and historically speaking we can’t expect Weil to move before S&C. S&C has always been a market leader on this matter. What gives?
One tipster puts the extent of S&C’s delay in stark relief:
S&C normally pays our bonus along with our December paycheck. Today, however, my December paycheck posted to my account, but no bonus along with it. Still no announcement from them regarding the change, so this is rather surprising.
It now seems likely that S&C won’t pay a dime of the 2008 associate bonus in 2008. That’s annoying. Essentially, the conversation over at S&C seems to be going like this:
S&C: I got a threshold. I got a threshold for the abuse that I will take. Now, right now, I’m a f**** race car, right, and you got me the red. I’m just saying that it’s f*#^@! dangerous to have a race car in the red. That’s all. I could blow.
ATL COMMUNITY: Oh! You ready to blow?
S&C: Yeah, I’m ready to blow.
ATL COMMUNITY: Well, I’m a mushroom cloud laying mother$^&er, mother@%^&er. Every time [I open my inbox and don’t see a fair compensation message], I’m Superfly T.N.T., I’m the Guns of the Navarone!
Get with the program S&C.
Happy Monday.
Earlier: Prior ATL coverage of associate bonuses.
(128) 
Comments
Dpw rules
Intense back and forth
blows is right
BITCH SPREAD THE BUTT CHEEKS SO I CAN SMELL THE JUICY INSIDES!!!
Not funny.
Paychecks are better than pink slips -- they know it, you know it.
Love the constant Pulp Fiction references! Keep em coming.
You know what they call a Quarter-pounder with cheese in France?
8: they call it an "Elie Mystal"
9: No, that would be a "Quarter Ton"...
Rodge is going to be eating his words when S&C gives everyone half-skadden bonuses. At every single associate lunch I have been to with him he has said that S&C is proud of setting the bar for associate compensation. what is going on?!
Zed's dead, baby. Zed's dead.
All I would want for a bonus is to nail the woolly goodness known as a Sheep.
Please update immediately with a photo and bio of Eliza Gray.
Elye Mystal's butt cheeks smell like mint chocolate chip icecream. About two gallons worth.
6 is correct. Biglaw has associates over a barrel even more so than usual. Nobody is going to make noise internally, and unless you want to be shown the door for "economic and/or performance" reasons, the best move right now is to lay low.
what a waste of a blog
Does he look like a bitch?
S&C doesn't want to pay bonuses. S&C wants to do layoffs so bad it hurts.
A royale with cheese?
Elie, We get paid twice a month. There's still the end of December paycheck.
I think S&C needs to step up to the plate and pay Skadden level bonuses. As 11 has said we have been promised top of the market bonuses. Maybe Skadden misjudged things but that doesn't mean we should go low.
It would be recruiting gold. Maybe not needed now, but it will be. Skadden will be dismissed as making an misjudgment of the market. S&C will be remembered keeping its promise to its associates. Cravath will be branded half-Skadden. The followers will be remembered as followers.
21 - I was just going to ask that ... re paycheck periods. Surely associates don't receive one check per month.
When is Quinn Emmanuel set to announce? Anyone with any insight? Some of us midsize lit shops are not-so-patiently waiting.
If S&C is considering breaking away from the pack (e.g., matching skadden), then it makes sense for them to wait to announce until it is too late for other firms to adjust what they have done. Spending money to distinguish yourself only makes sense if others can't match.
Do they have a Dec. 31st paycheck they could include the bonuses with?
A pulp fiction reference. How fresh. Way to catch that at the peak of its cultural significance. Do you have any Titanic references you'd like to try next. You suck.
-SG
21, i'm sure everyone will follow your idiot thought pattern. years from now we will all recall how S&C met skadden's mistake. how did you even get a job at S&C?
Ropes & Gray decided on a half-Skadden.
24 YOU are a douche!
Staff layoffs at S&C.
I read it in Chinese on a blog by a Chinese guy who's a first-year there.
The notion that other firms won't be able to match S&C if S&C announces late enough is absurd. Firms have in the past cut 2d checks to catch up with peers. Sorry to burst your bubble.
It must suck for an S&C litigation associate who billed 2800 hours to get the same bonus as the S&C banking associate who billed 1100 hours.
Oh wait, you're risk-averse lawyers who picked a lockstep firm and knew what you were getting yourself into. I have no sympathy at all.
"I'm the king of the world!"
-24
Yeah, 21 correctly points out there is still plenty of time for S&C to announce and pay bonuses in '08. Not sure how you missed that, Eli. Skadden announced and paid them out about a week and a half later in the Dec. 15 paycheck.
S&C has a meeting to discuss bonuses today, and there will be an announcement no later than mid-week. That would be perfect timing for a Dec. 30/31 deposit in the final paycheck.
"I read it in Chinese on a blog by a Chinese guy who's a first-year there."
Why are chinks coming to my country for law jobs? Get a job in your own f'ing country.
29 is right. This cannot be Rodge Cohen's strategy.
SERIOUSLY: Who throws a shoe?
Why are whiteys like 33 coming to my country for law jobs? Get a job in your own f'ing country.
-- Native American lawyer
24 - Nice Family Guy reference.
24: what you meant to say:
Ha ha ha! Oh gosh that's funny! That's really funny! Do you write your own material? Do you? Because that is so fresh. A pulp fiction reference. You know, I've, I've never heard anyone make that reference before. Hmm. You're the first. I've never heard anyone reference, reference that outside the movie before. Because that's what they say in the movie right? Isn't it? "Guns of Navaronne" etc.. And, and yet you've taken that and used it out of context to insult S&C in this everyday situation. God what a clever, smart girl you must be, to come up with a reference like that all by yourself. That's so fresh too. Any, any Titanic references you want to throw at me too as long as we're hitting these phenomena at the height of their popularity. God you're so funny!
36 = racist
36 You're a douchebad. Did you not read 33's comment?
39 You're a douchebad. Did you not read 33's comment?
Sorry I meant 39.
36 - shut up you parasitic chink.
I'm sick of all these chink LLMs coming to my country to take a job from an American lawyer. Your entire economy is based on stealing from us. Get lost.
Any word if Jones Day, NY office is giving out any bonuses? They are usually tricky to monitor, since they are all hush hush, but any JD associates out there want to reveal their bonus, and whether it was over market from last year, or half market, like this year?
what does mean "douchebad" im am still to learning englilish
22: "When is Quinn Emmanuel set to announce? Anyone with any insight? Some of us midsize lit shops are not-so-patiently waiting."
In past years, Quinn has typically paid bonuses around the 20th of December (they, for the most part, still issue paper bonus checks, rather than through the standard payroll). Announcements have been haphazard; I think the delay this year has been because, more than anything, John Quinn wants to go cheap (as always) and screw his associates with a half-Skadden, but also knows that he's going to have a hard time doing that since the firm (1) had several HUGE cases against Skadden this year like the Mattel/MGA matter (2) talks a big game about being a compensation leader (although it nickels and dimes you to the point that it isn't and (3) will probably post even higher PPP this year than last years $3.1 million, which will inevitably cause a freak-out if they go low on bonuses.
Bottom line: every fiber of JBQ's being is screaming out to fuck associates on bonuses, but so far there's still enough uncertainty that he will be able to get away with it, so no announcement.
For what it's worth, this Saturday was the firm's Los Angeles office Christmas party, which coincides with the partnership election. Three people in New York, two in Silicon Valley, one in Los Angeles, ZERO in San Francisco. Six isn't bad; I think we had seven or eight last year. The real bad part is that the majority of these people were NOT associates, but were "of counsel."
Coupled with the firm extending the nominal length of the partnership track from six years to seven years recently, it's hard to see exactly what this means, other than "fuck you, associates." Which, of course, means half-Skadden in our future as well.
Fez/Ponch douche = racist GULCer
what is Jones Day? i thought that holiday was only observed in Canada.
38:
You have earned a (reduced-rate) mustache ride. You may redeem at CTW.
36 - shut up you parasitic chink.
I'm sick of all these chink LLMs coming to my country to take a job from an American lawyer. Your entire economy is based on stealing from us. Get lost.
If they're going to go over the top, I say give them all the time they want.
43, with an attitude like that, I'm sure you're successful at your interviews and a blast at parties.
LOL IT'S A PULP FICTION REFERENCE I GET IT!!!!!
Wapner Newman doubled Skadden!!!!!!
Nice Pulp Fiction reference.
50 = TTT JD who lost his job to an LLM
52,
You're saying that to be good at interviews and parties I have to let some parasite chink LLM take my job?
You chinks steal our IP, our manufacturing, give us poison food and toys, and now you're here trying to take our biglaw jobs? I'll discriminate like heck against any chink LLM.
Get back on your boat and go back to the toilet you came from.
50, if you can't even compete with Chinese LLMs who have one year of US legal education, non-native English speaking abilities, and <50% average bar passage rate, you really need to re-examine whether you're in the right career. May I suggest an easier line of work, such as telemarketing?
50-
No Mustache Ride for you!!
58
That's not the point. The point is Chinks should get jobs in their own country, and stop attaching their bloodsucking leach tentacles to my country.
Why is that chinks can't be successful on their own? Stop stealing from everybody, you godless yellow dogs.
35-
Iraqi reporters threw shoes at my high school all the time. The secret service thought it was a big deal.
How do Chinks name their babies?
They throw a metal spoon down a flight of wooden stairs and write down the sounds they hear.
ching chong chang chung
perfect every time
seriousry
60
Do you know why Chinks come? Because we can...YES WE CAN...and YES WE WILL...
And watch out for your own job, because more and more of us will come to steal your job! Just accept the reality...
Elie, although we all believe in the 1st Amendment, you might want to think about removing some of the hate speech that has infiltrated your blog.
38 -- 2 words: Family Guy
"Do you know why Chinks come? Because we can...YES WE CAN...and YES WE WILL..."
Only until America opens its eyes to you yellow rats. Fucking parasite roaches. You won't stop until our country is like the craphole you escaped from.
This is probably one of the most stupid posts Elie has ever written. There is no logic in it at all. Or am I expecting too much?
27 -
Love the schtick...I look forward to the issuance of many 'douche patrol' citations on this blog. And Estrada is pure comedy gold!
Anybody nail one of them CWT NY 05 female associates this weekend?
i can't believe that 69 people have commented about a post containing NO substance.
What a surprise that the racists and douchebags pop up on a post about S&C.
Elie, can we get the racist poster's IP address and trace it? Thanks.
70
To be exact, you don't if it is 69 people. People are writing multiple posts.
Better yet, do a poll asking whether foreign trained lawyers should be able to get a law license after only one year of LLM schooling.
Hey yo fat girl, c'mere--are ya ticklish?
Yeah, I called ya fat.
Look at me, I'm skinny
It never stopped me from gettin' busy
I'm a freak
I like the girls with the boom
I once got busy in a Burger King bathroom
Please update immediately with a photo and bio of Eliza Gray.
Let's all take a collective mustache ride and calm the F- down people.
s&c associate: C'mon, throw in a buck
s&c: Uh-uh, I don't tip.
ATL: You don't tip?
s&c: Nah, I don't believe in it.
s&c associate: You don't believe in tipping?
ATL: You know what these chicks make? They make shit.
s&c: Don't give me that. She don't make enough money that she can quit.
XOXO: I don't even know a fucking Jew who'd have the balls to say that. Let me get this straight: you don't ever tip?
s&c: I don't tip because ATL says I have to. All right, if someone deserves a tip, if they really put forth an effort, I'll give them something a little something extra. But this tipping automatically, it's for the birds. As far as I'm concerned, they're just doing their job.
ATL: Hey, our girl was nice.
s&c: She was okay. She wasn't anything special.
ATL: What's special? Take you in the back and suck your dick?
s&c: I'd go special bonus for that.
s&c associate: C'mon, throw in a buck
s&c: Uh-uh, I don't tip.
ATL: You don't tip?
s&c: Nah, I don't believe in it.
s&c associate: You don't believe in tipping?
ATL: You know what these chicks make? They make shit.
s&c: Don't give me that. She don't make enough money that she can quit.
XOXO: I don't even know a fucking Jew who'd have the balls to say that. Let me get this straight: you don't ever tip?
s&c: I don't tip because ATL says I have to. All right, if someone deserves a tip, if they really put forth an effort, I'll give them something a little something extra. But this tipping automatically, it's for the birds. As far as I'm concerned, they're just doing their job.
ATL: Hey, our girl was nice.
s&c: She was okay. She wasn't anything special.
ATL: What's special? Take you in the back and suck your dick?
s&c: I'd go special bonus for that
For those of us who don't work at S&C, does it matter anymore?
As for the hate speech -- I hope nobody honestly takes offense ... I mean, the guy must be a failure at life to have nothing better to do. Kind of sad, really.
The racial slurs are disgusting and are threatening to degrade this blog to the level of AutoAdmit.com. I urge the editor to exercise some editorial power to keep this site clean.
S&C typically pays bonuses in a special payroll in between the two December regular payrolls. That means next Monday the 22nd.
How come no one said First.
79 -- it matters for those of us at K&E.
44 - JD compensation letters have not gone out yet.
IT'S A MUSTACHE KINDA MORNING
What's going on in DC? Is everyone waiting for Wilmer, Covington, or A&P to make a move?
Do a poll on whether chinese LLMs should be given US law licenses after only one year of law school.
Any word on K&E bonuses?
And by "typically," 81, you mean . . . never?
50/57/60 YOU are a douche!
Ponch could use a good mustache ride. Hop on, Esai.
86 -- that was funny. We both know that covington pays its 1-3 yrs like $5 on bonuses -- seriously, it was $17k for 3rd years, which translates into about $5 after taxes.
the reason why s&c is waiting is to see what their collectibles look like -- DEC is the big month for that (see recent amlaw article). i doubt that goldman is rushing to pay their legal bills when their stock is down 70%.
i predict s&c does a half skadden. it would look horrible to s&c's banking clients to pay full bonuses when their clients are huritng.
Can anyone confirm #26's note on Ropes and Gray?
O.M.G.!
S&C just announced double-Skadden! Suck it, CravaTTTh!
Is there anything worse than being an associate at S&C? You bill 2500+ hours plus working for a**holes who don't appreciate you and then get pathetic bonuses. Plus, you live in NYC and have no time or energy to enjoy it.
Maybe they invested reserves with Mardoff .
60/66, etc:
Oh, Sweetie. Did you forget to take your meds again this morning? Which one of the voices in your head am I speaking with right now?
What does the Doc have you on these days, horse tranquilizers? Perhaps you could do us a favor and double down on the dosage.
Anybody nail one of them CWT NY 05 female associates this weekend?
The racist remarks are attrocious and irrelevant. Take them down.
The racist remarks are attrocious and irrelevant. Take them down.
S&C is racist all the time, its really no big deal.
is the comment at 10:35 am still true?
http://blogs.wsj.com/law/2007/01/24/sullivan-cromwell-and-associate-morale/
6 & 16- the only intelligent posts in this thread
Anybody nail one of them CWT NY 05 female associates this weekend?
Maybe you sould be ashamed of having studied law and still being racists and start wondering why these Chinese LLMs are "taking" your jobs in a free market instead of crying like babies that your jobs are lost.
11: You don't get it. Rumors have it that S&C will pay 0 bonus this year. It's either this or lay-offs. And you all thought Cravath was the floor.
105 = Chinese LLM dry cleaner
107 racist associate who lost his job to a chinese
Will you give me oral pleasure, Fabienne?
Is there anything worse than being an associate at S&C? You bill 2500+ hours plus working for a**holes who don't appreciate you and then get pathetic bonuses. Plus, you live in NYC and have no time or energy to enjoy it.
What's with all the racist posts?
2 points:
1. 109: fail
2. THEY TOOK OUR JOBS!
So...this is essentially a post about how there's nothing to post about? Ho hum.
First of all, most chinks who are working in Biglaw are JDs who are more qualified than you, 107 - you loser!
Second of all, why is it that we didn't consider sweeping stupid racists like 107 away from our own country? Because we aren't afraid of losers!
Kirkland bonuses. Where are the Kirkland bonuses?
Kirkland bonuses. Where are the Kirkland bonuses?
Mark my word, there is no way S&C will pay 0 bonus this year.
hang yourself
Elie, please, can't you do something about the racist posts? They have no place here and reinforce my sense that this blog is going down the toilet.
102,
I don't know what the environment is like at S&C now, but I was there for several years before that WSJ lawblog post and the story that associate evaluations had no format was not true as anyone at the level of providing associate reviews (which I believe started at the 6th year) could tell you. There was a form that you had to fill out.
Aaaah! Elie tries way too hard.
Those goobags are taking our jobs.
WHEN ARE WE GOING TO FIND OUT ABOUT SHEARMAN STERLING'S BONUS????
It was noted in the comments the Friday before last that Shearman announced the half-Skadden bonus.
How could S&C not pay a bonus on the 15th and not say anything to their staff. I can see not paying a bonus but to not say anything is crazy. I am so glad I accepted my offer at Cleary over S&C.
On another note, I am shocked that lawyers in a free market economy are complaining about "others" taking their jobs. I understand racism but am shocked at stupidity. First, job losses are due to the economy and America (not because of immigrants) can take some of the blame. Also, most firms are international and would not survive if they only hired people that were born here. The ones that are doing well now are diversified in many ways. I doubt that many of the regional or smaller firms have a million chinese working there and stealing your job. To all of those that have lost jobs and don't write racist comments, it is unfortunate and my heart goes out to you. For those who have lost jobs and write racist comments, I can only say that your dismissal was due to the fact that you were not that good. For those who have not lost their job "yet" and write racist comments, I can only hope that soon a black, chinese, or other minority steals your job quickly. When they do, let us know so that we can have a good laugh. I am not being mean..just honest.
How could S&C not pay a bonus on the 15th and not say anything to their staff. I can see not paying a bonus but to not say anything is crazy. I am so glad I accepted my offer at Cleary over S&C.
On another note, I am shocked that lawyers in a free market economy are complaining about "others" taking their jobs. I understand racism but am shocked at stupidity. First, job losses are due to the economy and America (not because of immigrants) can take some of the blame. Also, most firms are international and would not survive if they only hired people that were born here. The ones that are doing well now are diversified in many ways. I doubt that many of the regional or smaller firms have a million chinese working there and stealing your job. To all of those that have lost jobs and don't write racist comments, it is unfortunate and my heart goes out to you. For those who have lost jobs and write racist comments, I can only say that your dismissal was due to the fact that you were not that good. For those who have not lost their job "yet" and write racist comments, I can only hope that soon a black, chinese, or other minority steals your job quickly. When they do, let us know so that we can have a good laugh. I am not being mean..just honest.
How could S&C not pay a bonus on the 15th and not say anything to their staff. I can see not paying a bonus but to not say anything is crazy. I am so glad I accepted my offer at Cleary over S&C.
On another note, I am shocked that lawyers in a free market economy are complaining about "others" taking their jobs. I understand racism but am shocked at stupidity. First, job losses are due to the economy and America (not because of immigrants) can take some of the blame. Also, most firms are international and would not survive if they only hired people that were born here. The ones that are doing well now are diversified in many ways. I doubt that many of the regional or smaller firms have a million chinese working there and stealing your job. To all of those that have lost jobs and don't write racist comments, it is unfortunate and my heart goes out to you. For those who have lost jobs and write racist comments, I can only say that your dismissal was due to the fact that you were not that good. For those who have not lost their job "yet" and write racist comments, I can only hope that soon a black, chinese, or other minority steals your job quickly. When they do, let us know so that we can have a good laugh. I am not being mean..just honest.
First of all, as a former S&C associate, I don't recall this being particularly "late." Second, although they obviously knew what Goldman's earnings announcement was going to be before today, they might have wanted to wait to announce bonuses until after Goldman released earnings for the sake of propriety. And I have a feeling that under the circumstances, S&C bonuses will be in line with Cravath et al.