As many people have pointed out, being angry over “only” a $20,000 bonus is something that most of the working world finds appalling. We get it: “spoiled whiners,” “real people are losing their jobs,” “nobody should complain about a six-figure salary,” yada, yada, yada.
But other people have pointed out that most of the working world doesn’t have $150,000 plus in educational debt to pay off before Biglaw lets you out of white-collar indentured servitude. Most associates don’t blow their bonuses on hookers and coke. (Fools!) Sadly, paying off debt is the final destination for most of the bonus cash.
So, in a way, law schools always take your bonus — at least a significant chunk of it. But maybe this year those schools got an additional tap into your bonus cash. Last week Harvard Law school released its 2007-2008 Report of Gifts. According to a tipster (I didn’t receive the report personally because I try to stay off the HLS grid; it has a lot to do with my hooker/coke/debt decisions), Half-Skadden and Skadden-Mart donated quite a lot to HLS. The report lists those two firms in the $1 million to $3 million range.
Putting some figures together, after the jump.