Associate Anger

‘I will probably live to rue the day I got pregnant.’

I’m going to be late to my f**king ultrasound because I’m waiting for a partner to review work that would only need to be reviewed if I wore a helmet and licked windows.

– An anonymous associate at an Am Law 100 firm who just realized how difficult carrying a pregnancy while working in Biglaw is going to be.

Congratulations to the 11 new partners at Akin Gump. They’re an impressive and diverse group, hailing from offices all across the country.

But not all news out of Akin is happy. Last month, for example, the firm — a perennial contender in our annual holiday card contest — failed to take top honors.

And some Akin associates feel that they got coal in their stockings this winter. Let’s check out the Akin grumps….

UPDATE (2/15/2013, 9:30 AM): Full bonus memo added after the jump.

double red triangle arrows Continue reading “Associate Bonus Watch: Bellyachin’ at Akin”

Some of our associate readers were not happy with their latest bonuses. But hey, let’s look on the bright side: at least they got bonuses (assuming they made their hours).

The same can’t be said for former associates of the now-defunct Dewey & LeBoeuf. These associates sought to be treated as Dewey creditors in the firm’s bankruptcy case, but the effort isn’t going so well. And the same could be said of retired partners of D&L, some of whom could be paying money into the bankruptcy estate instead of getting money out of it….

double red triangle arrows Continue reading “Dewey Honor Associate Bonuses or Retired Partners’ Claims? Not So Much.”

As we mentioned earlier today, bonuses are out at Latham & Watkins. The announcement came out yesterday.

And that’s basically the only thing our Latham sources can agree upon. Reactions to the LW bonuses varied greatly.

Let’s check out the numbers and see what our sources have to say….

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“Aaaaaand they’re off!”

Notwithstanding predictions of impending economic gloom or apocalyptic Mayan prophecies, 2012 brings some sort-of good news for incoming first-year associates: our survey findings show start dates have returned to pre-Recession timelines. We’re apparently (knock wood) past the days of first-years twisting in the wind with deferrals and rescinded offers. On the other hand, a majority of our survey respondents report that the size of the incoming first-year class has contracted significantly, with only 36% of you telling us that class sizes have returned to pre-Recession levels. For the full results of our survey, read on.

double red triangle arrows Continue reading “The Great Non-Deferral of 2012″

Perhaps you’ve already heard that Cravath announced its 2011 bonus scale on Monday (swiftly followed by Skadden and Milbank) and apparently it’s 2009 all over again. Around here, while Lat shrugged and Elie heaped scorn (“dick move”), the ATL commentariat … well, they were cut to the heart and gnashed their teeth (“ALLCAPS OUTRAGE MEME”).

We can’t help but wonder if this bonus season’s dyspepsia is typical of lawyers and law students generally. What with the growing ranks of JDs who are despairing of ever paying off their debt, shouldn’t there be some significant cohort thinking, “phew…not only do I have a job, but now my firm will be forced to match”?

Well it turns out that’s certainly not the case…

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It took a little longer than most of you expected, but Cravath, Swaine & Moore just announced its 2011 associate bonuses (not long after announcing its new partners). Barring something very unforeseen, these bonuses are what many Biglaw firms, in New York and across the land, will pay out this year to their people. Historically Cravath has set the market with respect to year-end associate bonuses at major law firms.

The Cravath bonuses are what you might expect. They are in line with recent years, nothing crazy high or ridiculously low. Both Occupy Wall Street types and law firm associates can put away the pitchforks.

Let’s take a look at the official memorandum, and engage in some analysis….

double red triangle arrows Continue reading “Breaking: Cravath Bonuses Are Out; Welcome to the 2011 Bonus Season!”

While performing here at the ATL Cabaret on Wednesday night, the celebrated drag queen of Biglaw, Kaye Scholer, was pelted with rotten fruit — by her own associates. If you haven’t done so already, do check out their rage-filled rants. (If nothing else, they’ll make you feel better about your own firm.)

As we’ve stated before, we’re committed to presenting both sides of a given story here at Above the Law. Sometimes we don’t hear the other side of a story because the sources on that side don’t care to contact us. But when we do have both sides available to us, we present them.

In the case of the People v. Kaye Scholer, we did hear from a character witness on behalf of the defendant. What did this individual have to say?

double red triangle arrows Continue reading “In Defense of Kaye Scholer”

We previously compared the law firm of Kaye Scholer to a drag queen. Kaye Scholer, Kay Scholer — geddit?

Well, some associates at Kaye Scholer claim they’ve seen underneath all the make-up — and it’s not pretty. This contestant would not go far in RuPaul’s Drag Race.

In terms of responses to our recent discussion of which firms aren’t paying spring bonuses, however, Kaye Scholer emerges a winner. We’ve heard from KS associates in droves over the past day or two — and the depth of their fury is impressive.

What are they so upset about? It’s not just the lack of spring bonuses. Let’s find out….

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Last month, when the world was bemoaning the Biglaw associate bonus market after Sullivan & Cromwell’s bonuses more or less fell in line with Cravath’s bonuses, I wrote as follows: “I’m keeping my eye out for Latham. It fits with their model. In bad times, suffering to all. In good times, models and bottles…. Latham survivors might get 2010 bonuses that trounce the former market leaders like Sullivan & Cromwell.”

Well, Latham & Watkins just announced its associate bonuses. Latham is a firm that gives out individualized bonuses, but the median payments by class year seem to be higher than the bonuses given out by Cravath, Sullivan & Cromwell, and the firms that followed them.

UPDATE: The preceding sentence was written before S&C’s springtime bonuses were announced.

So what is the Latham lucre looking like?

double red triangle arrows Continue reading “Associate Bonus Watch: Latham Bonuses Are Out (and Looking Good)”

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