The Vault 100 march continues! In this series of open threads, we list the firms, and you all discuss their upsides and downsides. We'll be wrapping this puppy up this week.

Here are the next ten (with prestige scores in parentheses):

71. Nixon Peabody LLP (5.218)
72. Hunton & Williams LLP (5.208)
73. Perkins Coie LLP (5.119)
74. Reed Smith LLP (5.057)
75. Patton Boggs LLP (5.050)
76. Chadbourne & Parke LLP (4.997)
77. Bryan Cave LLP (4.969)
78. Thacher Proffitt & Wood LLP (4.967)
79. Howrey LLP (4.926)
80. Schulte Roth & Zabel LLP (4.910)

Usually, we have fun with the "notable perks" chosen by Vault. But as we move down the list, the perks are becoming distinctly less notable -- e.g., gym membership discounts, free parking, and "good views." Oh well.

You know what to do! Have at it in the comments.

Earlier: Vault 100 Open Threads - 2009

So far this summer has been a little slow in terms of juicy summer associate stories. Are SAs this year just too well-behaved for their own good? C'mon, kids -- lighten up, have some fun, drink a little (or a lot) at firm events....

Almost three weeks have passed since our last summer associate tale. So we were delighted to receive this gift in our inbox today, pertaining to a summer at Schulte Roth & Zabel in New York:

[A]t a summer event last night, one the Schulte summers -- let's call him Randy Savage -- unaware of the identity of a particular stranger, put him in a headlock and called him a (homophobic insult redacted) for wearing a Yankees jersey.

The stranger then asked Randy Savage: "Do you know who I am?" Randy Savage replied: "No, you punk."

Said "punk" turned out to be a Schulte partner. The fate of Mr. Savage is currently unknown.

Clearly it's the partner's fault for not looking sufficiently partner-like. It happens; we know some junior partners who still get carded. We hope the SRZ folks cut the guy some slack and keep him around, so he can proceed to embarrass himself at future events.

We reached out to the firm this morning to see if they might have any comment. They haven't gotten back to us as of the time of this posting.

As always, please don't name this summer associate or provide more biographical detail about him (e.g., his law school). If you do, we may ban your IP address from further commenting. Thanks.

Update: This comment from Dr. Gonzo says it all: "SNAP INTO A PARTNER!!!"

The Magic Circle law firm of Allen & Overy, defendant in Schoenfeld v. Allen & Overy, has just filed its Answer (PDF). They're hoping to make Norman Schoenfeld's claims disappear. Schoenfeld, an observant Jewish lawyer who once worked at the firm, alleges that A&O discriminated and retaliated against him as a result of his observing the Sabbath.

We contacted the firm for comment. Here is their statement:

Allen & Overy denies all allegations of discrimination. This person's employment was terminated based solely on performance within his orientation period, a trial period of time mandated for all employees. He also failed to disclose to Allen & Overy the fact of his previous employment at another law firm.

Our firm has a strict written policy prohibiting any form of discrimination, and we provide all new employees and partners training in both diversity awareness and harassment prevention. Over the past several years, we have also instituted live diversity training for all of our existing attorneys and managers. We will vigorously defend our proud reputation of diversity and inclusion and are confident of a positive outcome for Allen & Overy with respect to these allegations.

More discussion, including interesting information from tipsters, after the jump.

Update (5/9/08): The case is settling. See here.

There's no major movement to report on the base salary front, but clerkship bonuses continue to climb. The latest firm to raise its clerkship bonus, from $15K to $50K (or $70K for two clerkships): Schulte Roth & Zabel. From their website:

Upon arrival at the Firm directly following an eligible one-year clerkship, associates receive a clerkship bonus of $50,000. Those who join us directly following an eligible two-year clerkship (or two successive eligible one-year clerkships) will receive a bonus of $70,000.

If you are aware of clerkship bonus news that we haven't previously reported -- you can check what we've covered before by doing a site search -- please email us. Thanks.

Careers: Judicial Clerks [Schulte Roth & Zabel]

(Gavel bang: commenter.)

That's the question Andrew Ross Sorkin, the young star business reporter of the New York Times, tackles in his latest DealBook column. After describing the recent wave of bonus announcements, which fell into the typical pattern -- one firm led, and everyone else mechanically followed, "as if [they] had simply copied and pasted the numbers directly from Cravath’s memo" -- Ross Sorkin writes:

Lawyers are smart, but this herd mentality seems absolutely irrational, economically speaking — and not because the compensation is too high. The top law firms have been stuck in copycat mode for years. As soon as one of them raises salaries for associates, the others fall in line almost immediately.

At first glance, it makes sense in a free-market kind of way that law firms rush to match one another’s compensation packages. They have to compete for talent, especially for the annual crop of law school graduates. Indeed, if they never raised salaries or bonuses, they would probably be accused of conspiring to keep costs down.

But think about this for a moment: Is there any other business in which every competitor matches salaries and bonuses almost identically?

Good question. Nothing really comes to mind (with the exception of "highly unionized industries," already noted in the article).

More excerpts and discussion, after the jump.

The rumors that we mentioned from this morning are true (as rumors so often are). The firm of Schulte Roth & Zabel has made its bonus announcement.

Schulte will pay year-end and special bonuses, according to the now-familiar scale, to associates with 2000 or more "Target Hours." It will pay additional bonuses to associates who hit 2300 and 2500 Target Hours ($10,000 for the former, and $20,000 for the latter). As the SRZ memo notes, these overworked associates "will, therefore, be paid above market" -- which is as it should be, for suffering that is extraordinary even by Biglaw standards.

Update: Okay, as some of you suggest in the comments, 2300-2500 hours may not be "extraordinary." But it's certainly higher than average, even in New York. Our basic point is that at least Schulte is providing additional compensation to associates who work longer hours than usual. It's a nice move.

Check out the memo, after the jump.

Here's an open thread for discussion of law firm bonus news (and rumor). Our last bonus post has scrolled off the front page of ATL, leaving it bereft of bonus coverage -- which is unacceptable, given the many firms that have not yet announced.

We're hearing rumors of an announcement by Schulte Roth & Zabel. If they're true, can someone please send us the memo?

Also, you can still vote in our poll about whether New York associates should receive higher bonuses than their non-NYC counterparts. We'll keep the poll open through the weekend. To vote, click here.

The miseries of life at a large law firm are regularly chronicled in these pages. But don't forget: It's a living. And if you make partner at a top firm, it's a very, very good living.

From an anxious reader:

I'm a 2L about to start the whirlwind of OCI at my law school. So I've been following the recruiting threads, if not eagerly, at least with an acute sense of anticipation and dread for what life will be like after the honeymoon of next summer.

I'm left with an overriding question: What keeps people in these high-compensation, high-stress jobs? Is it costly court settlements to pay ex-spouses? Mob debts?

I guess it could just be the overwhelming urge to consume luxury goods, but I can't comprehend someone making their lives hell for 60-80 hours a week just to buy a bag with a fancier pattern on it. Those who leave within three years make sense to me, but what about the tortured, hollow souls who soldier on?

We have a few responses. First, many law school graduates carry significant educational debt loads. By the time these debts are paid off, there are new financial needs: down payments, mortgages, tuition bills for the kids.

Second, some law firm associates -- those who "soldier on," in the words of this tipster -- actually enjoy their work. The unhappy associate is a stereotype, and every stereotype has its exceptions. We know a number of Biglaw associates -- and partners -- who wake up each day excited about going into work.

Third, the lifestyle rewards of working at a big firm should not be reduced to "a bag with a fancier pattern on it." They also include... nice real estate! Especially for those who snag the brass platinum ring of partnership.

Time for a Lawyerly Lairs post. In Lawyerly Lairs, we take you inside the luxurious abodes of prominent members of the legal profession.

Today we peek inside the multimillion-dollar apartment of Schulte Roth & Zabel partner Richard Presutti (pictured above, with his family). It was featured prominently last month in the New York Times.

Check it out -- including floor plans -- after the jump.

We've been providing salary news updates in the comments because, due to technical difficulties, it's more reliable than trying to do so here on the main page. For your reference, here are links to the latest announcements:

1. Allen & Overy: Confirmed. Memo is here.

2. Debevoise & Plimpton: Confirmed. Memo is here.

3. McKee Nelson: Confirmed. Memo is here.

(We will spare you the details of the boring debate over whether they should be considered a DC firm with a very large New York office, which is the obvious preference of McKee Nelson's media relations people, or a firm that's roughly split between the two cities. How many D.C. associates can dance on the head of a pin?)

4. Schulte Roth & Zabel: Confirmed. Transmittal email for PDF memo is here.

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Paging Biglaw boys: Is the retroactive portion of your pay burning a whole in your pocket? Are you trying to figure out how to spend $1,000 in found money?

Fret not. Have we got an idea for you:

For the High-End Bathroom, Something Unexpected [New York Times]

Soon we'll be all caught up in Legal Eagle Wedding Watch. Here are the three couples for the weekend of December 23-24, 2006:

1. Kathryn Connor, John Ridley Jr.

2. Ilyse Langer, Steve Metzger

3. Nancy Montgomery, Leonard Lombard

Discussion of these couples appears after the jump.

Some other noteworthy moves within the legal profession (besides Chief Judge David Levi's selection as Dean of Duke Law School):

Within government:

* This is big news: the new Attorney General for New York, Andrew Cuomo, has hired Barbara D. Underwood as his solicitor general.

Underwood has a resume to die for. She has served as counsel to Eastern District U.S. Attorney Roslynn Mauskopf, as chief assistant U.S. Attorney in the E.D.N.Y., and as principal deputy solicitor general over at the Justice Department (under President Bill Clinton and Attorney General Janet Reno).

Surprise surprise: Barbara Underwood is among the Elect (OT 1970/Marshall). We hear that she beat out other former Supreme Court clerks to win the New York SG job.

The fact that so many high-powered people were vying for the gig shows that state solicitor general posts are acquiring more and more cachet. Being an ex-SCOTUS clerk is rapidly becoming a requirement for these jobs. E.g., Ted Cruz in Texas (OT 1996/Rehnquist); Kevin Newsom in Alabama (OT 2000/Souter).

The rest of today's transitions, plus links, after the jump.

We must run, although we shall return later today. Please post breaking bonus news in the comments.

We define "breaking news" broadly. Another firm matching the market may not be thrilling, but we keep track of these things anyway.

Before we go, we can report that Schulte Roth & Zabel matched the market bonuses. Schulte matched the market (for 2000 hours), but with additional $10,000 bonuses at 2300 and 2500 hours.

Earlier: Prior ATL coverage of bonuses (scroll down)

On the heels of the robust lawyer wedding market over October 21-22, last weekend delivered another bumper crop of attorney nuptials. We picked three couples to write about, per our standard procedure. But there were many others that would have been equally suitable for review.

Three of the wedding announcements that we almost wrote about illustrate an interesting trend: mentioning past employment positions. Typically this is done only if the former post is a big deal -- e.g., a Supreme Court clerkship, an ambassadorship, etc. But in three announcements -- Lucy Fowler and Travis Glasson, Liora Powers and Steven Spiess, and Robyn Sorid and Joshua Ufberg -- past jobs of the bride were mentioned, despite not being exceptionally notable.

(Fowler, Powers, and Sorid were, respectively, former associates at Foley Hoag, Schulte Roth & Zabel, and Paul Weiss. These are all prestigious gigs; but none is on the level of a SCOTUS clerkship or an ambassadorship.)

Sorry for the digression; on to the business at hand. Here are the couples in contention this week:

1. Leanne Abrams, Brandon Bortner

2. Aileen McGrath, Jason Gillenwater

3. Marjorie Zauderer, David Griffel

Ratings and reviews appear after the jump.