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Wachtell pays mid-year bonus
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Date: September 16th, 2006 11:35 AM Author: ultramarine library $40k for class of 2000 and $30k for class of 2002: http://www.abovethelaw.com/2006/09/skaddenfreude_in_a_league_of_i.php
Granted some firms like Wilson Sonsini pay bonuses during the year also, but I think those are more like $4k, if even that much. |
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Date: September 16th, 2006 11:57 AM Author: cyan becky can median at GW get wachtell? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6623838) |
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Date: September 16th, 2006 11:59 AM Author: Charcoal well-lubricated faggotry really tough guy only if they can fit all of their materials in a wheelie bag. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6623841) |
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Date: September 16th, 2006 12:05 PM Author: chartreuse adventurous associate That place might be the only biglaw firm worth working for. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6623863) |
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Date: September 17th, 2006 12:21 PM Author: doobsian low-t hell ROFL (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629037) |
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Date: September 17th, 2006 3:44 PM Author: vigorous jet persian french chef yet they make less per hour than most biglaw associates. amazing. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630252) |
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Date: September 17th, 2006 9:39 PM Author: Alcoholic Arousing Piazza Haunted Graveyard typical ttt response (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6632195) |
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Date: September 17th, 2006 9:56 PM Author: vigorous jet persian french chef its true. many turn down wachtell. its not like harvard college (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6632313) |
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Date: September 17th, 2006 9:58 PM Author: rose chapel not enitrely true
http://avery.ws/ai/shortest_hour_law_firms5.html
71.69 an hour, most nyc biglaw seems to be 60-70 |
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Date: September 17th, 2006 10:13 PM Author: vigorous jet persian french chef i meant over all associates in all offices, adjusting for col, they arent anywhere near the top. if you dont adjust for col, wachtell is still only middling since london branches are superior.
among only nyc firms, they are above average. however the salary number is an average across all associates I believe so it is biased towards smaller firms.
edit: additionally that bit of a premium wlrk seems to pay over nyc firms in per hour salary is less than you could make by working at a pizzeria at night part-time. |
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Date: September 17th, 2006 10:46 PM Author: Alcoholic Arousing Piazza Haunted Graveyard you are full of shit (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6632719) |
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Date: September 17th, 2006 10:58 PM Author: rose chapel um, only 4 firms on that list of 160 make more per hour. wachtell is tops in shittiest hours and in pay, we should all agree on this. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6632810) |
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Date: September 18th, 2006 4:48 PM Author: vigorous jet persian french chef I agree with that.
I don't think they are tops in pay per hour. That list bears that out.
I am also saying that working in any london branch you would make more per hour than at wachtell.
and I am also saying that adjusting for cost of living most associates make more per hour than at wachtell |
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Date: September 16th, 2006 12:15 PM Author: sooty sick house Looks like other top firms have to give same or better year end bonus versus last year, even with $20K base raise.
Ch-ching! |
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Date: September 17th, 2006 12:24 PM Author: cracking federal macaca Yeah, because firms have a strong history of following WLRK's compensation scheme. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629050) |
Date: September 16th, 2006 2:22 PM Author: Sapphire site juggernaut Someone took a swipe at Lat in the comments. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6624504) |
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Date: September 17th, 2006 4:21 PM Author: olive aromatic windowlicker Subject: The poster called "David Lat" Par for the course in the blogosphere. I've been called far worse. You develop a pretty thick skin after a while.
For the record, the person who has been posting messages as "David Lat" on this board is not actually me. If you'd like to contact the real David Lat and confirm this fact, email me:
dlat AT abovethelaw DOT com
Thanks.
--David Lat
http://www.abovethelaw.com/ |
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Date: September 17th, 2006 4:22 PM Author: Sapphire site juggernaut Are you the real DL? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630461) |
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Date: September 17th, 2006 4:25 PM Author: olive aromatic windowlicker Subject: The real DL Yes, I am. As I said, if you'd like to verify my identity, email me at either of these addresses:
dlat AT abovethelaw DOT com (Above the Law email)
or
ArticleIIIGroupie AT gmail DOT com (Underneath Their Robes email)
I'm annoyed that someone has been posting for quite some time under my name. I hope they didn't post anything offensive and/or idiotic. (I have not had the chance to review their entire oeuvre.)
--David Lat http://www.abovethelaw.com/ |
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Date: September 17th, 2006 4:32 PM Author: Sapphire site juggernaut You should post a "Taking questions" thread. I'm sure a lot of xoxoers would be interested in talking with you, if they knew you were here. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630513) |
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Date: September 17th, 2006 9:59 PM Author: primrose temple you did make yourself into a public figure (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6632340) |
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Date: September 18th, 2006 4:43 PM Author: olive aromatic windowlicker Subject: Public figure My New Flame Schtick: Thanks for the "Taking Questions" suggestion -- I might do that. It could be good for promoting AboveTheLaw.
Loafer: I concede that I'm a public figure. I have no problem with people flaming me, gossiping about me, etc. It comes with the territory.
But I don't like people using my name to post messages in a forum where I could possibly be posting. It's like the message board version of identity theft.
It's okay to gossip about public figures; it's not okay to steal their identities. And it's worse for me because even if I may be a public figure, I'm not a "celebrity."
If people post in this forum pretending to be me, it's reasonably likely that other people will think the posts are actually from me. In contrast, if a poster takes on the name of a celebrity -- e.g., "Tom Cruise" -- nobody would think that the real celebrity was posting.
--David Lat Above The Law http://www.abovethelaw.com |
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Date: September 18th, 2006 8:01 PM Author: primrose temple fair enough, esp. since i did ask the "david lat" poster whether he was the A3G guy when he started posting. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6637568) |
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Date: September 17th, 2006 12:40 PM Author: Yapping shimmering round eye foreskin fuck , i didnt know that bankers made so much money. JD vs MBA all over again for me...
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Date: September 17th, 2006 12:41 PM Author: ultramarine library http://xoxohth.com/thread.php?thread_id=258262&mc=73&forum_id=2 (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629137) |
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Date: September 17th, 2006 12:47 PM Author: Yapping shimmering round eye foreskin god. why are we considering law school. is it just because it is less riskier. you know, right after college, no risks , just getting the numbers?? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629167) |
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Date: September 17th, 2006 1:11 PM Author: ultramarine library I think there's some good reasons why somebody might prefer going into law than finance. I'm not sure any of those reasons applies to people who go into biglaw transactional work in NY. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629260) |
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Date: September 17th, 2006 1:19 PM Author: cracking federal macaca Hours and job security are usually the two big reasons. Your chances of making partner in NYC Biglaw are much better than a long-term career in finance. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629303) |
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Date: September 17th, 2006 1:54 PM Author: racy goal in life area I guess this is worth saying again: lawyers, even NY transactional lawyers, do different things from bankers. I would rather be writing and negotiating contracts than doing spreadsheets. Others disagree and become bankers. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629527) |
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Date: September 17th, 2006 1:55 PM Author: Overrated domesticated dysfunction elastic band nice rationalization. writing contracts is fun as fuck! (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629533) |
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Date: September 17th, 2006 1:58 PM Author: ultramarine library Personally I think that I might agree with rk. However drafting and editing can be tedious and painful, and I'm sure there's going to be times where I'll wonder how much worse it'd be to be an Excel monkey instead of a monkey scribe.
And of course, there's the difference in pay and three years of law school. You might enjoy writing, but do you enjoy it tens of thousands dollars more? |
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Date: September 17th, 2006 2:03 PM Author: racy goal in life area Look:
1. My pay is comparable to what junior associates get at i-banks.
2. My hours are better.
3. My job is more interesting.
4. If I eventually want banker/PE money, I can probably move over in a year or two and skip the hours/drudgery that junior bankers suffer through. And I'll have seen more deals and have more experience in negotiating than bankers of my seniority -- though of course I'll have much less experience in modelling etc. |
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Date: September 17th, 2006 2:04 PM Author: fragrant aquamarine lay yarmulke Corporate law sucks. How can you do that shit? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629621) |
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Date: September 17th, 2006 2:26 PM Author: racy goal in life area Do you have any clue
(1) what corporate lawyers do,
(2) what litigators do, or
(3) what i-bankers do? |
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Date: September 17th, 2006 2:12 PM Author: Overrated domesticated dysfunction elastic band "1. My pay is comparable to what junior associates get at i-banks."
no it's not |
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Date: September 17th, 2006 2:20 PM Author: ultramarine library He could be at Wachtell. But in that case, "I'd rather be at Wachtell than in finance" is a rather different statement than "I'd rather be in biglaw than in finance." (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629703) |
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Date: September 17th, 2006 2:27 PM Author: Overrated domesticated dysfunction elastic band how much do wachtell partners make? i know they have that 1:1 partner:associate ratio or whatever. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629750) |
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Date: September 17th, 2006 2:28 PM Author: Red godawful plaza place of business PPP last year was about $3.9 million. Junior partners were making less; Herb and Marty were making more. This year will likely set new records if this mid-year bonus thing is any indication. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629757) |
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Date: September 17th, 2006 2:30 PM Author: Overrated domesticated dysfunction elastic band jesus christ that's fucking awesome. imagine th enet worth you could build up after many years at the wachtell partner level (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629764) |
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Date: September 17th, 2006 2:36 PM Author: ultramarine library http://www.nytimes.com/imagepages/2006/05/26/business/20060526_HEDGE_GRAPHIC.html
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Date: September 17th, 2006 2:44 PM Author: Overrated domesticated dysfunction elastic band haha
always gotta rain on their parade, dont you |
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Date: September 17th, 2006 2:55 PM Author: Yapping shimmering round eye foreskin fuuuuck (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629915) |
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Date: September 17th, 2006 3:39 PM Author: mauve spot giraffe Approximately 850 hedge funds closed up shop in the last year. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630217) |
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Date: September 17th, 2006 3:49 PM Author: mauve spot giraffe By the way, Cohen stated recently that he doesn't think the current math wizard hedge fund trend can continue much longer. Consequently, he's starting a Buffet-ish value focused division of his company. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630280) |
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Date: September 17th, 2006 3:59 PM Author: vigorous jet persian french chef there are more than 8000 hedge funds. there are 6300 taco bells (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630353) |
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Date: September 17th, 2006 4:11 PM Author: mauve spot giraffe There are about 8000 Burger Kings in the U.S. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630413) |
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Date: September 17th, 2006 4:12 PM Author: vigorous jet persian french chef so there is a hedge fund for every burger king. sounds like a promising field (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630419) |
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Date: September 18th, 2006 6:05 PM Author: Alcoholic Arousing Piazza Haunted Graveyard Cohen, who is number 4 on that list, just lost a shitload of value for all of his investors. i'm guessing that others will follow, a lot of people will lose money, and the government will regulate the hell at of hedge funds, further cutting into returns (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6636815) |
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Date: September 17th, 2006 2:39 PM Author: Yapping shimmering round eye foreskin what if we dont make partners?? then what? i dont mean at W&L, but any big law firm (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629806) |
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Date: September 17th, 2006 2:44 PM Author: Red godawful plaza place of business "W&L"??? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629834) |
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Date: September 17th, 2006 2:45 PM Author: ultramarine library Rosen and Katz are kinda just deadwood, really. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629841) |
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Date: September 17th, 2006 2:47 PM Author: Overrated domesticated dysfunction elastic band i have a WLRK mug that i bring to keggers and drink out of. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629865) |
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Date: September 17th, 2006 2:56 PM Author: Yapping shimmering round eye foreskin so, how hard is it for lawyers to enter ibank??? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629924) |
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Date: September 17th, 2006 2:57 PM Author: Overrated domesticated dysfunction elastic band why are there so many lawyers asking this? it makes me wonder. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629930) |
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Date: September 17th, 2006 4:01 PM Author: vigorous jet persian french chef katz is extremely dead wood. hasnt worked in years (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630367) |
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Date: September 17th, 2006 4:11 PM Author: mauve spot giraffe How much does he get for doing nothing? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630415) |
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Date: September 17th, 2006 4:21 PM Author: vigorous jet persian french chef not much, since he's dead (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630451) |
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Date: September 17th, 2006 2:47 PM Author: Yapping shimmering round eye foreskin wachtell lipton (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629866) |
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Date: September 17th, 2006 4:11 PM Author: olive aromatic windowlicker Subject: "David Lat": Please change your username To "David Lat":
This is the real-life David Lat, of AboveTheLaw.com (and formerly of Wachtell Lipton). I'd appreciate it if you would stop posting messages under my name. Thank you.
(To contact the real David Lat, you can email me: dlat AT abovethelaw DOT com.)
Again, much thanks!
--David Lat http://www.abovethelaw.com/ |
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Date: September 17th, 2006 2:26 PM Author: racy goal in life area Market this year for my class is around $200K. That's comparable to i-bank comp; likely higher than banker comp in lean years and lower in fat ones. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629743) |
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Date: September 17th, 2006 2:29 PM Author: Gaped potus gay wizard That is some sweet money. But you're working yourself to the bone right? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629763) |
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Date: September 17th, 2006 2:44 PM Author: racy goal in life area Well, yes. But less so than i-bank associates. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629837) |
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Date: September 17th, 2006 2:58 PM Author: ultramarine library I'm not sure that they "work" that much. There's a lot of downtime in ibanking and I think it's more important to put in the face time.
My friend who moved to private equity said he was working harder than when he was in ibanking, but described it was similar hours (possibly slightly less), but actually having to do work for all those hours.
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Date: September 17th, 2006 3:03 PM Author: Overrated domesticated dysfunction elastic band it really depends on WHICH pe firm, but yeah supposedly the powerhouses like KKR, Blackstone, Carlyle will just rape you to death. i can see myself surviving 100 hrs a week when its just face time, but 100 hrs a week of hard work would fucking kill me. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629974) |
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Date: September 17th, 2006 3:05 PM Author: ultramarine library Good point. I just happen to hear more from the people at the powerhouse firms. Some random people I talk to from smaller PE firms say the workload is more or less comparable to ibanking, generally with more interesting work and better office dynamics. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629989) |
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Date: September 17th, 2006 3:07 PM Author: Overrated domesticated dysfunction elastic band is it true that you need to be GS/MS/UBS LA/Lazard to have a reasonable shot at the KKRs? (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6629999) |
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Date: September 17th, 2006 3:10 PM Author: ultramarine library I think it needs to be a bulge bracket ibank although I'm not really up on their relative reputations. Might also depend on the specific group that you interview with. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630024) |
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Date: September 17th, 2006 4:07 PM Author: vigorous jet persian french chef no i dont think so. they also take people from strong departments of lesser banks, when those departments are relevant. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630392) |
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Date: September 17th, 2006 3:41 PM Author: mauve spot giraffe Or you could just get 2.5 full-time jobs. (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630232) |
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Date: September 17th, 2006 4:03 PM Author: vigorous jet persian french chef if you go over to the ibanking board, you will see many people asking about moving to other finance areas, not for the money, but so they can work only 60-65 hour weeks (http://www.autoadmit.com/thread.php?thread_id=490089&forum_id=2#6630379) |