(One of those new partners is Jordan Goldstein, who makes a cameo in the recent New York Times obituary of noted pornography publisher Al Goldstein: “After his son, Jordan, disinvited him to his graduation from Harvard Law School, Mr. Goldstein published doctored photos showing Jordan having sex with various men and with his own mother, Mr. Goldstein’s third ex-wife, Gena.” Charming.)
Given the continued success of Quinn Emanuel, it seems that some associates were hoping for better bonuses. Let’s hear what they have to say….
Congratulations to Northwestern University and Northwestern Law. The university just announced a $25 million gift, and $15 million of that will go to the law school.
The gift comes from Northwestern Law alum Neil Bluhm, who has an estimated net worth of $2.5 billion. Although Bluhm made his fortune as a real estate and casino magnate, he took his first steps towards wealth in Biglaw. Bluhm worked as an associate and then a partner in the Chicago office of Mayer Brown.
Speaking of Mayer Brown, the firm’s New York office just announced bonuses. Could they be the first big bucks banked by budding billionaires?
The white-shoe firm of Davis Polk might have been displaced by Paul Weiss as home of the hottest attorneys, but there’s still much to recommend DPW. As you can see from its ATL Career Center profile, it gets high grades both from the lawyers who work there and in terms of industry reputation.
You know what would make Davis Polk an even more appealing workplace? Above-market bonuses….
Earlier this month, I had the pleasure of attending the New York holiday party of Susman Godfrey, one of the nation’s most impressive — and most feared — litigation boutiques. The mood was celebratory (and not just because of the delicious food, provided by celebrated chef Daniel Boulud, and free-flowing drink).
The associates I spoke with — who all enjoy their own private offices, no small perk in the New York law firm world — exhibited a great esprit de corps. Unlike so many other associates I meet, they seemed genuinely glad to be at their firm and enthusiastic about their work.
The fact that bonuses were just around the corner surely helped. We’ve covered Susman Godfrey’s generousbonuses in the past, and they never disappoint.
I recently chatted with founding partner Stephen Susman about what he described as his firm’s “unique approach” to bonuses. Here’s what we discussed — including how big his firm’s bonuses are this year….
The past few months have been good ones for Morrison & Foerster. The firm, which secured an impressive victory for longtime client Apple in the smartphone wars, could end up getting part of its $60 million in fees paid by the losing party, Samsung. MoFo has also been adding new talent at a good clip, including D.C. securities partners Martin Dunn and Scott Lesmes (formerly of O’Melveny & Myers), London restructuring partner Howard Morris (formerly of SNR Denton), and a slew of partners (formerly of Hogan Lovells) who opened MoFo’s new Berlin office.
So the news about lateral partners at Morrison & Foerster is exciting. Can the same be said about associate bonuses in the New York office, the first MoFo outpost to announce?
Just when we thought this day couldn’t get any better for law firm bonuses, we’ve got more good news from Cahill Gordon & Reindel, a firm that has consistently proven that it truly values all of its associates’ hard work.
Once again, the firm has announced “special” bonuses that will be paid this month, in advance of usual year-end bonuses in January. Keep in mind that these “special” bonuses are on top of the summer bonuses that were paid out in July. This firm doesn’t make it rain — it makes it pour.
It’s Friday the 13th, and many consider this day to be unlucky, especially if they’re at a lockstep firm in New York. There simply isn’t any suspense left to be had for these people. It doesn’t matter if you haven’t received your bonus yet because you know exactly what you’re going to get.
Cravath has spoken, and even Sullivan & Cromwell has fallen in line behind the king of bonus compensation. But some firms — like Boies (with a jaw-dropping $300K bonus), Ropes & Gray, and Schulte Roth & Zabel — are giving especially industrious associates some additional monetary awards for all of their hard work.
If you’re employed at a firm like Kaye Scholer and you worked your tail off in 2013, you must be jumping for joy right now. How high did their bonuses climb?
Still, as Staci Zaretsky observed earlier today, there’s a one-in-a-million chance that some firm that hasn’t announced yet will beat Cravath. And if you’ve bought a ticket for Friday’s $400 million Mega Millions drawing, you believe in one-in-a-million — actually, one-in-259-million — chances.
Three firms just announced their year-end associate bonuses for 2013. Let’s scratch off these tickets and see what lies underneath….
The week’s almost over, but we’ve got more bonus news for you. While Sullivan & Cromwell, by matching Cravath, might have dashed your hopes of the bonus market climbing higher, there’s still a chance — probably a one-in-a-million chance — that another very special firm could do it.
In fact, every time an associate says, “I don’t believe in higher bonuses,” there’s a would-be Boies-level bonus someplace that falls down dead.
So you spent a considerable amount of time courting, selling and maybe even doing some friendly stalking of that attractive lateral partner candidate with a sizable book. After he or she ignored your emails and didn’t return your calls, a few weeks go by and you read a press release in the legal media announcing the recent move to a competing firm.
Rats. Another one got away from you. You cringe when you consider how much time was spent in meetings that did not bear fruit. Your heart aches when recall how you were led to believe this was a marriage made in heaven.
You have been rejected.
The sting of rejection is painful, even for fancy law firms. But you need to find a way that you can turn this disappointment into a legitimate learning experience.
No, this isn’t a pre-party before we come back next fall for the real thing. This IS the real thing. Quinn Emanuel is pushing the envelope on recruiting. The party is now. This is when you meet the partners and associates face to face. This is when we begin the dance that could land you an offer for your second summer BEFORE school starts in the fall.
First: You come to the party. Second: If you like us, you send your resume after June 1, 2014. Third: If we like each other, you get an offer.
We’re not waiting for fall. We’re not doing the twenty minute thing. This party is the real thing!
We hope you’ll join us, and look forward to meeting you.
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
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