S&C

For many law schools, the bidding process for the upcoming on-campus interview season closed yesterday. In bidding, schools quite reasonably advise students to select potential employers that align with their aspirations and geographic preferences. For example, the section of the Duke Law web site devoted to OCI admonishes students to “thoroughly research” potential employers and to “focus only on employers in whom you are genuinely interested and that match your career goals.” Presumably, one career goal shared by all law school graduates is to eventually be free of debt. As previously and repeatedly noted, for most, a Biglaw associate position is the only employment outcome which gives the graduate a plausible prospect of paying off his student loans.

So what shapes student perception of large law firms and drives the decision of the law student in prioritizing their OCI bids? No doubt there are unique versions of received wisdom that get passed from generation to generation of students at every school. And of course there are plenty of media entities measuring firms against one another: revenues (AmLaw), “prestige” (Vault), practice area prowess (Chambers) and so on. This being the time of year where Biglaw careers are just starting to be built, we thought it would be interesting to look at how students themselves rate law firms. Which firms are the law student favorites?

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‘They stole [accreditation] from us. Sneaky little ABA. Wicked, tricksy, false!’ — FAMU Law

Ed. note: Due to the Presidents’ Day holiday, we will be on a reduced publication schedule today. We will be back in full swing tomorrow. We hope you enjoy your day off (or feel free to lament your lack thereof in the comments).

* “[T]hey don’t want to hear nothing.” Vedel Browne, the man accused of robbing Stephen Breyer at machete-point while the justice was vacationing in his home in the Caribbean, now claims that he’s innocent, mon. [St. Kitts-Nevis Observer]

* You know what, the farmer in the Super Bowl commercial probably didn’t have to deal with bullsh*t like Monsanto’s seed patents, but today’s farmers do, and they’ll argue their case before the Supreme Court this week. [New York Times]

* “I’m a betting man. And I would bet and give odds that Sullivan & Cromwell has never said that publicly.” Who dares question S&C’s stance in the hot mess that is Herbalife? None other than Carl Icahn. [Am Law Daily]

* Here’s an important Biglaw math lesson that’s been provided to us via California-based firms like Irell & Manella, Munger Tolles, and Orrick: a little revenue minus a lot of partners equals profitability. [Recorder]

* Amid a flurry of filings on Valentine’s Day, love must’ve been a battlefield for the embattled Dewey & LeBoeuf refugees who were in desperate search of their once promised 2011 bonuses. [WSJ Law Blog (sub. req.)]

* From the department of things that suck: having to defend your office’s alleged “underhanded tactics” in a $150 million wrongful conviction case while you’re trying to get re-elected as district attorney. [New York Times]

* We got bitches in the office lawyerin’ on, and they ain’t leavin’ till six in the mornin’ — unless they want to be fired. An ex-Travers Smith trainee claims she was canned for leaving the firm “early”… at 6:30 a.m. [Telegraph]

* If it weren’t for Cosmo, this woman wouldn’t have known her landlord was an alleged creeper. A Maryland lawyer now faces criminal charges for allegedly filming his female tenants in the nude. [Washington Post]

* “We wants it, we needs it. Must have the precious!” The ABA officially put Florida A&M on notice that its law school accreditation may be in jeopardy if they don’t shape up in terms of bar passage. [Orlando Sentinel]

* What do you do the second you step off a cruise ship that’s been described as “a floating toilet, a floating petri dish, a floating hell”? You grab the very first lawyers you see, and sue! [Nation Now / Los Angeles Times]

Early last week, we asked readers to submit possible captions for this photo:

On Thursday, you voted on the finalists, and now it’s time to announce the winner of our caption contest….

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Earlier this week, we asked readers to submit possible captions for this photo:

Let’s have a look at what our readers came up with, and then vote on the finalists….

double red triangle arrows Continue reading “Caption Contest Finalists: Biglaw Beach Blanket Bonus Bingo”

Brother, can you spare a dime? This year’s spring bonuses from Sullivan & Cromwell made legions of attorneys feel like they were hustling for spare change instead of living the Biglaw high life. With the bar on bonuses set so low, Cravath now has the opportunity to blow S&C out of the water.

And truth be told, many lawyers are hoping that the former market leader on spring bonuses will leave SullCrom all wet. Aww, don’t worry, we’ll get you a towel.

Here’s the photo for our latest caption contest….

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This is just coming into the ATL inbox, but it appears that Sullivan & Cromwell has announced bonuses that will essentially match the Cravath bonus scale.

“Essentially,” because there are a few interesting caveats: people in the class of 2003 will get $37,500 — i.e., $2,500 more than the Cravath class of 2003 — and our tipsters say there is language in the memo suggesting that S&C might pay a spring bonus next year. (You’ll remember that S&C did not pay out spring bonuses this year.)

UPDATE (1:07 PM): In addition, people in the class of 2002 will get $42,500. The spring bonuses will depend on the firm’s performance.

UPDATE (1/21/11): Read about the S&C spring 2011 bonuses over here.

If you have more information (or the memo), please send us an email at tips@abovethelaw.com, or a text message at 646-820-TIPS.

In the meantime, this news looks like a compromise between the conflicting SullCrom factions we reported on last week

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As of this writing — Thursday, December 16, at 10:30 AM — Sullivan & Cromwell has not yet announced its bonus scheme. We suspect that several other top firms that have yet to announce bonuses, like Davis Polk, Simpson Thacher, Cleary Gottlieb, and Debevoise, are simply waiting for the white smoke to emerge from 125 Broad Street. [FN1]

So… what’s going on at S&C?

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