To 7:28?

I understand accounting and how not paying bonuses would reduce expenses for the firm. My point is larger, more toward that of the previous poster. The repuational risk as well as deterrence of future talented hires in a human capital-intensive business might be a shortsighted gain for the partners of MVA.

Why would NEW or INCOMING associates choose to go to MVA over another Charlotte firm if they could get a bonus elsewhere? Why did MVA recently raise salaries if they were going to deny bonuses? Why did they allow junior associates to toil all year under the assumption that they would be receiving hours-based bonuses, (as more senior associates did receive)and then deny those same hardworking associates?

I came from a lock-step firm, and this is a closet lock-step bonus policy in that shirkers are rewarded equally as overachievers. What about the people that work much, much harder than average there that got screwed?

But of course, maybe that's what you get for moving to a smaller legal market, like Charlotte.

All's I'm saying is that the firm could have better communicated their changing expectations and remuneration policies to their employees. The delivery was terrible, and MVA should be ashamed.

Sonnenshein is not the only Charlotte firm that should have it's tail between its legs. MVA should be outed as well.

While deal number is a proxy for activity, deal size/complexity are also important in noting how much work is required to get a deal done. So while the raw number of deals may have dropped off, in some cases, due to changes in financing, etc., there's still stuff to do...

Just a thought for folks who are worried. I would, however, point out that more junior M&A associates are probably not getting the level/quantity of deal training that some of their supervising attorneys had just a few years ago when they are juniors. This could lead to a midlevel talent vacuum in a few years, just like happened for junior associates a few years after the dot-com bust.

And on that note, happy weekend!

FWIW, perhaps too many of you are slaving away indoors to realize that Crocs make excellent boat shoes. They do well on sailboats and yachts....

yes, absolutely. if they pay for lodging they should pay for food, laundry. just don't milk it.