When it comes to year-end bonuses, Cravath traditionally leads, and everyone else follows. But when it comes to spring bonuses, which we’ve all been eagerly anticipating, the usual first mover is Sullivan & Cromwell.
So why are we now hearing word of spring bonuses over at 825 Eighth Avenue? What the heck is going on?
Alas, these aren’t the spring bonuses you’re looking for. From a Cravath tipster:
I was walking to work up Eighth Ave and noticed that the firm had, without notifying its associates, already provided us with a spring bonus: a 10% discount at Subway.
Alas, CSM lawyers, there’s some fine print attached. Says our source:
I did try to take advantage, but it was only after I ordered my Cold Cut Combo that I was told the 10% discount didn’t apply to $5 foot-long subs.
Another sign of the changing legal economy.
Here at Above the Law, we argued about the generosity of the 2011 Cravath bonuses. But here’s something we can all agree upon: Cravath comp can cover the cost of a Cold Cut Combo.
This is what crossed my mind: Is Paul D. Cravath, whose august surname now appears on a Subway sign, rolling over in his grave?
Mercifully, no. Perhaps firm administrators had some words with the sandwich shop proprietor. According to our Cravath tipster, the sign at the Subway shop — the 47th Street location, in case you’re wondering — “now reads ‘825 Eighth Ave Employees,’ or something more vague like that.”
UPDATE (5 PM): For those of you who are curious, here’s what the sign looked like during the daytime: