Well, the bonus scale has been set. Cravath led — by copying their bonus payments from last year — and now everybody is following. I’m on record saying that these bonuses are underwhelming and disappointing.
Gone are the days where the first-year bonus represented a significant chunk of your law school debt. Sure, you can pay down some interest with your bonuses, or you can prudently save it, or maybe even invest it. But you can also blow it. I mean, it’s a “bonus,” right? In this depressed market, your bonuses look less like deferred compensation and more like “found money.” Instead of making a fiscally sound decision, using your bonuses for profligate, discretionary spending might make you feel better. (Disclosure: Elie Mystal is not a registered financial adviser and is too… stupid to follow a budget.)
Bonuses range from $10,000 for first-year associates to $60,000 for senior people. Professor Paul Caron of Tax Prof Blog tells me that associates can expect to take home about 60% percent of that, depending on where they live and how many dependents they have.
What can a young lawyer buy with that? In addition to what’s in the ATL holiday gift guide, here are 10 things…
Earlier this week, we started getting a few tips about an incident down in Texas alleging some pretty interesting police misconduct. In a nutshell, a motorcyclist says he was pulled over for no reason, then ordered by a Dallas Sheriff’s officer to give up his helmet camera as “evidence” for crimes committed by other motorcyclists on the road. When the man refused, the cop allegedly decided to arrest him on false pretenses.
Normally, this kind of thing would quickly devolve into an endless case of he said-she said. The situation here is different because — whoops — the helmet cam recorded the whole exchange.
Keep reading to see the video, as well as coverage of the situation from local Texas news. From where we sit, it doesn’t look too good for the officer….
Riding a motorcycle is dangerous for a lot of obvious reasons. Namely, motorcycles, compared to other common modes of transport, come with an above-average risk of crashing and dying.
That said, when young men tell their parents they want to buy a motorcycle, their mothers’ frantic “please don’t buy one” speeches generally don’t include the risk of Motor Boner. One Bay Area bike dude (no, not this bike dude) allegedly has a pretty bad case, though. And that’s why he is suing the maker of his BMW motorcycle. Keep reading to learn more about this extraordinarily sensitive Lawsuit of the Day….
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The holiday season is upon us, and yet again, you have no idea what to get for the fickle lawyer in your life. We’re here to help. Even if your bonus check hasn’t arrived yet, any one of the gifts we’ve highlighted here could be a worthy substitute until your employer decides to make it rain.
We’ve got an eclectic selection for you to choose from, so settle in by that stack of documents yet to be reviewed and dig in…
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