i didn't realize they resigned their lease in 2007. hilariously bad timing, reupping then in worldwide plaza, which is now 40% vacant. i don't know if there's any wiggle room. subletting would be next to impossible, i'd think, under the circumstances.
Cravath's announced bonuses are a lot lower than the pre-bust bonuses. they range from $7.5K to $30K. bonuses at the end of 2007 were 45K to 110K. but still any bonus is better than no bonus.
fuzzyjza, i agree. but they're about the same as last year's, except at the lower levels. and that $7500 is for the class of '08 i believe i read, which is pretty bad.
Boy did that turn out to be a mistake. They have a lot of leverage: it's almost worth making noises about going under to renegotiate the lease, but who knows how many clients they would lose in the process.
Re bonuses - only bad compared to what they used to be. Associates are still compensated pretty well (perhaps not well enough for the amt of stress/work, but...). If Cravath wants someone to leave, they aren't going to give them a $7500 bonus ;)
uwsmom, bonuses were higher 10 years ago, but salaries of course were not. i agree it won't be much of a factor in movement. doubt anyone (except Wachtell, maybe) will top it, and there's very little mobility for junior associates. it may encourage a few associates to find cheaper rentals, though.
aboutready
about 3 weeks ago
ignore this person
report abuse i don't know, 10023, but they can try, and if you mentioned it i was rudely not attending. there are some freakish deals getting done.
30yrs, can you imagine, though? trying to present that notion to the partnership, or the firm's executive committee? i'd pay to be present.
-
Wait, YOU would pay to be present? You mean with your husband's money who is managing partner of another firm, you would use his money to sit in on a competitive firm's executive committee to hear about their business?
no response from aboutready who has never found a law related thread she didn't pontificate about?
and don't be too impressed by all that managing partner stuff. she throws it around like he's a big swinging dick but he's a pretty junior partner in a big firm. the job is probably much more administratrive partner than managing if you think managing menas being everyones boss including much more senior partners. they probably give the managing partner title to a solid young partner who everyone likes and who has future in the firm. then he can do all the admin BS as "managing partner" of the office that the more seniro guys don't want to be bothered with
i didn't realize they resigned their lease in 2007. hilariously bad timing, reupping then in worldwide plaza, which is now 40% vacant. i don't know if there's any wiggle room. subletting would be next to impossible, i'd think, under the circumstances.
Cravath's announced bonuses are a lot lower than the pre-bust bonuses. they range from $7.5K to $30K. bonuses at the end of 2007 were 45K to 110K. but still any bonus is better than no bonus.
fuzzyjza, i agree. but they're about the same as last year's, except at the lower levels. and that $7500 is for the class of '08 i believe i read, which is pretty bad.
Boy did that turn out to be a mistake. They have a lot of leverage: it's almost worth making noises about going under to renegotiate the lease, but who knows how many clients they would lose in the process.
Didn't I mention the Cravath lease at the last meet and greet thing? Yeah, they can always renegotiate.
7500 is BAD, they must be trying get people to leave
Re bonuses - only bad compared to what they used to be. Associates are still compensated pretty well (perhaps not well enough for the amt of stress/work, but...). If Cravath wants someone to leave, they aren't going to give them a $7500 bonus ;)
i don't know, 10023, but they can try, and if you mentioned it i was rudely not attending. there are some freakish deals getting done.
30yrs, can you imagine, though? trying to present that notion to the partnership, or the firm's executive committee? i'd pay to be present.
uwsmom, bonuses were higher 10 years ago, but salaries of course were not. i agree it won't be much of a factor in movement. doubt anyone (except Wachtell, maybe) will top it, and there's very little mobility for junior associates. it may encourage a few associates to find cheaper rentals, though.
I can't believe no one took lovells. dibs on that
aboutready
about 3 weeks ago
ignore this person
report abuse i don't know, 10023, but they can try, and if you mentioned it i was rudely not attending. there are some freakish deals getting done.
30yrs, can you imagine, though? trying to present that notion to the partnership, or the firm's executive committee? i'd pay to be present.
-
Wait, YOU would pay to be present? You mean with your husband's money who is managing partner of another firm, you would use his money to sit in on a competitive firm's executive committee to hear about their business?
Toilet lady, why don't you get a job?
no response from aboutready who has never found a law related thread she didn't pontificate about?
and don't be too impressed by all that managing partner stuff. she throws it around like he's a big swinging dick but he's a pretty junior partner in a big firm. the job is probably much more administratrive partner than managing if you think managing menas being everyones boss including much more senior partners. they probably give the managing partner title to a solid young partner who everyone likes and who has future in the firm. then he can do all the admin BS as "managing partner" of the office that the more seniro guys don't want to be bothered with
why don't you bring snotty into the discussion as well. then the three of you can talk to yourself. odd.
rumors are swirling about massive firings this coming month at my firm and a bunch of others. What a great time to be a lawyer :)
sorry to hear that...hope it all works out for you. if its any consolation, its not just lawyers.
How could that possibly be a consolation? Only by some "misery loves company theory". You'd know that theory well, right?
my sister in-law is a state attorney and was just laid off last week. cc is right though, it's not just lawyers. times are rocky.