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Cadwalader cutting associate pay 25%
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Poast new message in this thread
Date: March 31st, 2020 11:52 AM Author: Vengeful cream tanning salon Just announced on law 360. Cuts apply to associates and all other staff making over $100k. They are delaying all partner distributions. What a fucking TTT. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907018) |
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Date: March 31st, 2020 11:53 AM Author: emerald point To be fair, I admire this way more than throwing 25% of their attorneys on the street. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907024) |
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Date: March 31st, 2020 11:55 AM Author: sexy irate menage faggotry Cr. I’d take this. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907027) |
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Date: March 31st, 2020 11:55 AM Author: emerald point Yeah, I'm not sucking partner's dicks, but this seems way more ideal than being thrown to the wolves of the worst lateral market ever. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907031) |
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Date: March 31st, 2020 12:12 PM Author: canary casino dragon tcr. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907128) |
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Date: March 31st, 2020 12:17 PM Author: Diverse cordovan indirect expression ape (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907175) |
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Date: March 31st, 2020 12:19 PM Author: Aphrodisiac abnormal quadroon hell How admirable! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907184) |
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Date: March 31st, 2020 12:24 PM Author: Vengeful cream tanning salon Twist - they can STILL do layoffs and keep the pay cuts! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907226) |
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Date: March 31st, 2020 12:33 PM Author: Free-loading trailer park don't worry. they'll do both. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907333) |
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Date: March 31st, 2020 2:26 PM Author: Laughsome boiling water (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39908246) |
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Date: March 31st, 2020 4:20 PM Author: dun narrow-minded step-uncle's house (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909375) |
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Date: April 1st, 2020 1:29 PM Author: outnumbered bipolar home nibblets (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39916450) |
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Date: April 1st, 2020 2:31 PM Author: boyish national people who are hurt (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39916937) |
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Date: April 1st, 2020 3:02 PM Author: racy field telephone (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39917159) |
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Date: April 3rd, 2020 6:10 PM Author: sticky well-lubricated meetinghouse (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39934240) |
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Date: April 3rd, 2020 6:25 PM Author: Cerise blathering laser beams (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39934358) |
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Date: March 31st, 2020 1:09 PM Author: Curious Jewess Office oh what an admiral! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907607) |
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Date: March 31st, 2020 4:19 PM Author: dun narrow-minded step-uncle's house Thank you sire. May I have another? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909370) |
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Date: March 31st, 2020 4:37 PM Author: Light church building voyeur (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909478) |
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Date: April 1st, 2020 7:16 PM Author: chartreuse senate really tough guy I assume the firms are reducing associates' hourly rates by 25% as well. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39918892) |
Date: March 31st, 2020 11:53 AM Author: Aggressive house pervert Friend at CWT told me this. Told me they still claim to be "busier than ever" but are doing it to brace for recession and not have to layoff anyone.
I give it about 3 weeks until there are layoffs. |
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Date: March 31st, 2020 11:58 AM Author: Exciting magenta goyim roast beef No layoffs! But there will definitely be "Performance improvement plans" that, inevitably, excess staff fail to meet. LJL. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907042) |
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Date: March 31st, 2020 11:58 AM Author: bearded vivacious school persian (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907045) |
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Date: March 31st, 2020 12:09 PM Author: floppy filthy ceo institution There is a legion of counsels and service partners at CWT that have alimony to pay! College consultants to bribe! African safari vacations to fund! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907104) |
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Date: March 31st, 2020 11:55 AM Author: Federal Ruddy Stead we've been at this what two, three weeks tops, and they're already in trouble. Sure, is this lasts to May I can see cuts, but now? Am I missing something here? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907029) |
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Date: March 31st, 2020 11:56 AM Author: Bright deer antler kitchen Yes (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907035) |
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Date: March 31st, 2020 11:56 AM Author: sexy irate menage faggotry Why would you waste a good reason to slash pay 25%? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907036) |
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Date: March 31st, 2020 11:59 AM Author: Indigo marketing idea this
these are excuses to cut so partners can protect the firm and their golden goose, not because of actual fundamentals
my buddy has a small biz, he always wanted to fire this fat white bitch but was afraid of getting sued so he laid off half his team last week (the bottom half) stating the virus killing the balance sheet but he's actually flush with cash lol |
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Date: March 31st, 2020 11:59 AM Author: bearded vivacious school persian (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907050) |
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Date: March 31st, 2020 12:09 PM Author: Federal Ruddy Stead Ok this makes sense. Ruthless but logical. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907101) |
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Date: March 31st, 2020 12:11 PM Author: hyperventilating concupiscible community account (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907117) |
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Date: March 31st, 2020 5:58 PM Author: crawly faggot firefighter potus 180 (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39910113) |
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Date: April 1st, 2020 3:03 PM Author: racy field telephone (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39917164) |
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Date: March 31st, 2020 12:12 PM Author: Gaped crimson travel guidebook den if it's so transparent that they're just doing this for BS reasons, then they could've just done it 5 months ago, no? would've saved even more money. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907127) |
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Date: March 31st, 2020 12:14 PM Author: Curious Jewess Office (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907148) |
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Date: March 31st, 2020 12:06 PM Author: Gaped crimson travel guidebook den receipts are way way down, collecting from clients for work already completed has become a huge pain at most firms (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907087) |
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Date: March 31st, 2020 12:08 PM Author: Federal Ruddy Stead I get all that. But it’s been down for not even one month. Your telling me after the past boom we’ve had this firm can’t even weather one fucking bad month? Or as I suspect are the partners there all greedy little piggies? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907093) |
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Date: March 31st, 2020 12:10 PM Author: Gaped crimson travel guidebook den everyone is leveraged to the hilt (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907105) |
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Date: March 31st, 2020 12:13 PM Author: Cheese-eating organic girlfriend Don't most firms advertise to law students that thy have no debt? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907138) |
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Date: March 31st, 2020 12:14 PM Author: Gaped crimson travel guidebook den lmao (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907145) |
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Date: April 1st, 2020 3:03 PM Author: racy field telephone (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39917170) |
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Date: March 31st, 2020 12:16 PM Author: Flirting Heaven Haunted Graveyard CWT is the king of leverage in terms of partner to associate. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907153) |
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Date: March 31st, 2020 2:53 PM Author: Laughsome boiling water we've managed to not miss a beat so far, but I think things are going to come to a screeching halt next week. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39908397) |
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Date: March 31st, 2020 11:55 AM Author: disrespectful area juggernaut so is it 25% of everything over 100k? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907030) |
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Date: March 31st, 2020 12:01 PM Author: Vengeful cream tanning salon I don’t think so. I think it’s a full 25% based on the article. I’m guessing there is some adjustment so that someone making $101k isn’t suddenly making less than someone who was making $99k. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907060) |
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Date: March 31st, 2020 12:17 PM Author: Aphrodisiac abnormal quadroon hell Wtf are you talking about (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907169) |
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Date: March 31st, 2020 12:25 PM Author: canary casino dragon Using a $100k cutoff: Imagine someone at the firm makes $101k and they get a 25% cut. Now imagine someone makes $99k and they don't. The former made $2k more yesterday but today they ~$23k less. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907238) |
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Date: March 31st, 2020 12:28 PM Author: Cocky Shrine Immigrant Cliff effects, obviously. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907274) |
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Date: March 31st, 2020 4:39 PM Author: dun narrow-minded step-uncle's house State your IQ (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909487) |
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Date: March 31st, 2020 5:57 PM Author: Indigo marketing idea (retard) (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39910098) |
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Date: March 31st, 2020 11:59 AM Author: know-it-all center police squad JFC I work at Cadawalder and got a raise unsolicited from 88k to 101k yesterday WTF. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907048) |
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Date: March 31st, 2020 12:09 PM Author: mildly autistic buff wagecucks (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907102) |
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Date: March 31st, 2020 12:28 PM Author: irradiated henna ticket booth (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907272) |
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Date: March 31st, 2020 1:27 PM Author: Exhilarant harsh library (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907734) |
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Date: March 31st, 2020 2:52 PM Author: Bonkers jap (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39908392) |
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Date: March 31st, 2020 3:49 PM Author: Stirring Hospital (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909063) |
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Date: March 31st, 2020 12:00 PM Author: Flirting Heaven Haunted Graveyard Odd case. In 2008 they were ahead of the curve and Lathamed everyone before Latham was even a thing. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907052) |
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Date: March 31st, 2020 12:09 PM Author: Vengeful cream tanning salon JFC, I didn’t realize this. Looks like they did their layoffs in July 2008, so before Lehman went down. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907096) |
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Date: March 31st, 2020 12:12 PM Author: Flirting Heaven Haunted Graveyard They actually did two rounds. One in Jan 2008 and a second at the end of July. The first cut was relatively small and the second was huge. The firm is over leveraged with associates and is built to make huge profits in good times and cut the fat as soon as the market turns. In this case I’m guessing they are hedging their bets in case the market comes roaring back but the greedy partners don’t won’t to take the full cost of keeping shop open. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907131) |
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Date: March 31st, 2020 12:21 PM Author: wild indian lodge yarmulke And then they couldnt recruit anyone for like a decade as a result. Lesson learned. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907197) |
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Date: March 31st, 2020 12:24 PM Author: jet-lagged appetizing double fault Welcome to the REAL DEAL! CockPunch!
TBF, we knew they were TTT in 2005 |
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Date: March 31st, 2020 12:28 PM Author: razzmatazz nursing home trump supporter CR, Cadwalader was where everyone who struck out at OCI ended up (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907265) |
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Date: March 31st, 2020 12:49 PM Author: godawful gas station This. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907466) |
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Date: March 31st, 2020 2:29 PM Author: Marvelous Alpha Becky (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39908259) |
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Date: March 31st, 2020 12:29 PM Author: Yellow Comical Antidepressant Drug lol at "recruiting" being important
whats their PPP now and in 2008 |
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Date: April 1st, 2020 3:04 PM Author: racy field telephone (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39917179) |
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Date: March 31st, 2020 4:18 PM Author: boyish national people who are hurt by Anonymous User » 14 Dec 2018, 12:20
Cadwalader (NY):
CLS- 1 NYU - 1 UPenn - 1 U Michigan - 3 USC- 1 GULC -2 BC - 1 Fordham - 3 American - 1 Rutgers- 1 Brooklyn- 2 NYLS - 2
Total= 19
Offer Gift: backpack and notebook Holiday Gift: Patagonia vests Start Date: May 20 (10 weeks as opposed to 11 in past years) |
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Date: March 31st, 2020 4:19 PM Author: Ivory Vibrant University Associate that class is a prole tell (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909371) |
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Date: March 31st, 2020 5:18 PM Author: cruel-hearted set goal in life (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909775) |
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Date: March 31st, 2020 12:08 PM Author: Yellow Comical Antidepressant Drug wow. are biglaw layoffs coming next? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907092) |
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Date: March 31st, 2020 12:10 PM Author: mildly autistic buff wagecucks But I’ve heard such great things about working there (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907107) |
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Date: April 1st, 2020 2:38 PM Author: Carnelian Pontificating Milk Native (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39916981) |
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Date: March 31st, 2020 12:10 PM Author: balding national security agency this firm is heavily exposed to capital markets and CMBS specifically - so prob not an indication of widespread layoffs, yet. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907109) |
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Date: March 31st, 2020 12:25 PM Author: wild indian lodge yarmulke Its not 2008. The # of MBS offerings in a given year is tiny as fuck since Fannie and Freddie launched their structured finance platforms. No one is overly exposed to that shit anymore. There werent even $10 billion in CMBS last year and maybe another $5 billion in CLO activity outside of Fannie and Freddie. Even a Cadwalader is not making much here. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907231) |
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Date: March 31st, 2020 12:26 PM Author: Cheese-eating organic girlfriend What does cmbs work involve (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907247) |
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Date: March 31st, 2020 12:28 PM Author: wild indian lodge yarmulke Lots of haggling about loan tapes, but no, CMBS is not a major driver for Cadwalader since the Fed absolutely obliterated the deal flow in this area. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907264) |
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Date: March 31st, 2020 12:27 PM Author: wild indian lodge yarmulke https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/51351691
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Date: March 31st, 2020 9:59 PM Author: arrogant talented corner mad cow disease Can you explain to me what you think is happening in this article so I can explain to you why you are a dumbass? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39912210) |
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Date: March 31st, 2020 12:12 PM Author: cerebral self-centered bbw Does that mean 25% fewer bedbugs too?? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907122) |
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Date: March 31st, 2020 12:12 PM Author: Curious Jewess Office (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907134) |
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Date: March 31st, 2020 12:17 PM Author: canary casino dragon XOers are caustic with regard to any action. Everyone knows law firm billables are plummeting. So what would you have the partners do? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907167) |
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Date: March 31st, 2020 12:22 PM Author: bearded vivacious school persian cr, partners at firms that have been having 5-10% ppp growth per year over the last decade surely can't weather one slow month (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907210) |
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Date: March 31st, 2020 12:27 PM Author: mildly autistic buff wagecucks (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907255) |
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Date: March 31st, 2020 12:28 PM Author: khaki tattoo feces surely theyve had to suspend distributions and are LIVID (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907271) |
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Date: March 31st, 2020 12:29 PM Author: irradiated henna ticket booth (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907276) |
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Date: March 31st, 2020 12:35 PM Author: sapphire swollen volcanic crater abode (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907360) |
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Date: March 31st, 2020 12:36 PM Author: obsidian violent hall (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907372) |
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Date: March 31st, 2020 12:56 PM Author: canary casino dragon It isn't going to be "one slow month." (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907499) |
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Date: March 31st, 2020 1:16 PM Author: Aromatic roommate patrolman (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907666) |
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Date: March 31st, 2020 2:24 PM Author: razzle puppy pocket flask (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39908236) |
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Date: March 31st, 2020 2:51 PM Author: Olive dilemma (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39908387) |
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Date: March 31st, 2020 4:41 PM Author: dun narrow-minded step-uncle's house LOL. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909493) |
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Date: April 1st, 2020 11:09 AM Author: Twisted Brunch Brethren (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39915393) |
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Date: March 31st, 2020 12:34 PM Author: Free-loading trailer park RETIRE and let the next generation take over (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907340) |
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Date: March 31st, 2020 12:57 PM Author: canary casino dragon Yeah, I'm sure you'll totally do that when/if you're ever in that position. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907503) |
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Date: March 31st, 2020 12:58 PM Author: bearded vivacious school persian this is what every generation did before boomers
the only reason most of them have books now is because some greatest gen atty handed over clients and retired rather than desperately clinging to every last $ |
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Date: March 31st, 2020 1:20 PM Author: canary casino dragon "this is what every generation did before boomers"
Before Boomers life was totally different. Law firm hires came from essentially similar social groups as the partners and their children, and many hired their own children and children of their friends. Those that didn't make partners would be set up with cushy in-house gigs and feed work back. It was an entire system run on nepotism and as a result, was far more congenial/humane.
Now the person who makes partner is the one who billed 3k+ hours consistently, and they did it so they could be rich. You think they give a flying fuck about what people did several generations back? |
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Date: March 31st, 2020 1:28 PM Author: bearded vivacious school persian The people who are coming up today billing 3k+ to make service partner aren't getting equity and aren't making decisions for the firms, though. The rainmaking equity partners have largely been around as partners for 20+ years or more and came up during a time that was much less cutthroat (partners didn't lateral, mandatory retirement still around, widespread lockstep partner comp. etc.). These same people took the system that let them get where they are and turned it into the TTT that it is today. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907744) |
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Date: March 31st, 2020 1:30 PM Author: canary casino dragon You're still not getting it. Retiring so that your children can take over is very different from retiring so that DBG could take over. They would never have even hired DBG back in the day. They have no incentive to do what you're proposing.
The second they made the law firm game a pure meritocracy it made the practices of 2009 inevitable during bad times. And the reactions ITT demonstrate why even trying to be more humane is still going to get backlash. |
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Date: March 31st, 2020 2:37 PM Author: Laughsome boiling water (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39908309) |
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Date: March 31st, 2020 4:45 PM Author: bearded vivacious school persian Except they all did retire so "DBG" could take over, then "DBG" changed the system to the current shitshow it is today (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909520) |
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Date: March 31st, 2020 4:48 PM Author: boyish national people who are hurt ((( ))) not " " (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909562) |
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Date: March 31st, 2020 5:17 PM Author: canary casino dragon No, their parents retired so their kids could take over. Their kids got greedy and bought into all the BS, so they substituted nepotism for greater profits for themselves (so instead of hiring from their social group they hired DBG because he will bill 3k hours year after year). Once they did that, they realized that retiring and passing it on to DBG is stupid. Which is why DBG is left to whine here about not getting "his due" (even though it never was his due). (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909759) |
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Date: March 31st, 2020 1:15 PM Author: bronze impertinent dingle berry wrong answer. if you see a bunch of partners retire it's because they thing the firm will go broke and want to get their equity out before it does. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907660) |
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Date: March 31st, 2020 12:22 PM Author: jet-lagged appetizing double fault Welcome to the REAL DEAL! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907205) |
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Date: March 31st, 2020 12:23 PM Author: khaki tattoo feces are these temporary cuts? seems fine, certainly better than how they handled ITE
but lol at ever working for cadwalader |
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Date: March 31st, 2020 12:29 PM Author: wild indian lodge yarmulke I worked at Cadwalader and Quinn -- the two firms XO shits on the most. Thankfully my time at Cadwalader was very brief. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907280) |
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Date: March 31st, 2020 12:34 PM Author: jet-lagged appetizing double fault I heard they are particularly awful to their Doc Reviewers (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907346) |
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Date: April 3rd, 2020 6:19 PM Author: Cocky Shrine Immigrant (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39934312) |
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Date: April 3rd, 2020 6:20 PM Author: boyish national people who are hurt (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39934316) |
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Date: April 3rd, 2020 6:25 PM Author: Free-loading trailer park (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39934353) |
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Date: March 31st, 2020 12:34 PM Author: Free-loading trailer park you didn't WORK AT either of these firms, dumb shit. you were a contract attorney in the basement. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907350) |
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Date: March 31st, 2020 4:36 PM Author: Tan Mind-boggling Macaca Place Of Business 180 (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909475) |
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Date: March 31st, 2020 4:37 PM Author: boyish national people who are hurt this jew on jew violence has got to end! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909479) |
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Date: March 31st, 2020 5:13 PM Author: Free-loading trailer park (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909728) |
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Date: March 31st, 2020 5:33 PM Author: jet-lagged appetizing double fault Can't we all just get along? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909892) |
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Date: March 31st, 2020 12:32 PM Author: bearded vivacious school persian they have to be temporary unless cadwalader is just giving up on deciding to solely focus on fordham/brooklyn/etc.
It's better than layoffs but a 25% paycut after less than one month of an economic slowdown is a pretty good sign that a shit tsunami is about to hit biglaw very soon |
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Date: March 31st, 2020 1:09 PM Author: Curious Jewess Office (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907617) |
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Date: March 31st, 2020 1:12 PM Author: godawful gas station This. ITE had a noticeable divide btw firms doing 145k or 160k. The 145s eventually went back to 160 as the economy improved. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39907635) |
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Date: March 31st, 2020 4:52 PM Author: Galvanic athletic conference Then bankrupt a few years later. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909598) |
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Date: April 1st, 2020 4:17 AM Author: Olive dilemma This is a bad look for them, to be sure, but I wouldn't read too much in the conduct of Cadwalader, a notoriously poorly financially managed firm--they were struggling to retain talent and grow profits even during the best years of the past decade--with a side reputation for being a mini-Latham as far as its regard for associates, for trends in biglaw. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39913856) |
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Date: April 1st, 2020 1:16 PM Author: Aggressive house pervert cr. CWT had massive litigation layoffs and defections (at one point their NY lit department was down to one partner) in 2015-2016 and closed most of their international offices. This was during a boom time. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39916361) |
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Date: April 1st, 2020 1:28 PM Author: Olive dilemma People want to pearl clutch ITT because they've found one shittily managed badly reputed firm that's doing things consistent with, well, shitty management and a bad reputation. I'm not saying it's going to be all roses--maybe, maybe not--but the way to determine the direction of the market isn't based on anything Cadwalader does. In fact there's nothing that Cadwalader does that I'd use to determine anything. I am individually sorry for the associates there, it's a bullshit move, but it shouldn't be totally surprising. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39916447) |
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Date: March 31st, 2020 4:49 PM Author: boyish national people who are hurt 100 GET (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909574) |
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Date: March 31st, 2020 4:52 PM Author: Galvanic athletic conference http://xoxohth.com/thread.php?thread_id=4493400&mc=2&forum_id=2 I told you so. |
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Date: March 31st, 2020 4:54 PM Author: rambunctious maize legend These guys are still making 6 figures. Cry me a river. They should be capped at $100k with a 5% bonus if they meet their hours. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909613) |
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Date: March 31st, 2020 10:17 PM Author: effete violet dysfunction theatre You can't live off $100 unless you are on PAYE. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39912346) |
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Date: March 31st, 2020 10:19 PM Author: canary casino dragon (Partner) (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39912353) |
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Date: April 1st, 2020 3:04 PM Author: Territorial Naked Idea He Suggested (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39917174) |
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Date: March 31st, 2020 10:29 PM Author: Blue Dashing Headpube Crackhouse Then associates would never work past 5 PM, clients would get fed up with the firm’s terrible work, and would just start using in house layers or else use regional firms instead of biglaw. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39912391) |
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Date: April 1st, 2020 12:56 AM Author: Cocky Shrine Immigrant "They should be capped at $100k with a 5% bonus"
Might as well be a chill paralegal at that wage. |
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Date: April 13th, 2020 7:51 PM Author: Insane keepsake machete Lol. No one would do it then. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#40008039) |
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Date: March 31st, 2020 4:59 PM Author: red parlor They are doing this because they can, not because they need to (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39909651) |
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Date: April 1st, 2020 4:26 AM Author: Olive dilemma I actually think things need to be pretty fucking desperate over there to motivate this sort of terrible press move. The likelihood of this being a strategic move of opportunity seems low. This is going to stick with them and it's not like they're starting from a position of strength in most markets anyway. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39913876) |
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Date: April 1st, 2020 4:33 AM Author: boyish national people who are hurt Well, somebody has to go first. And Latham is V5 now. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39913893) |
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Date: April 1st, 2020 10:37 AM Author: Blue Dashing Headpube Crackhouse Latham is a V5? Since when? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39915136) |
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Date: April 1st, 2020 2:33 PM Author: boyish national people who are hurt since the most recent ranking:
https://www.vault.com/best-companies-to-work-for/law/top-100-law-firms-rankings
1 CSM 2 WLRK 3 Skadden 4 S&C 5 Latham 6 Kirkland 7 DPW 8 STB 9 GDC 10 Paul Weiss
Oddly, PW just posted bad numbers. |
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Date: April 1st, 2020 10:36 AM Author: Blue Dashing Headpube Crackhouse I don’t think cadwallader cares AT ALL about their reputation among the law firm crowd. They already are known as the worst of the worst places to work, somewhere you only go if you really have no other option. A toxic TTT shitmill. But their business relies on clueless boomer businessmen who know as much about the “reputation” as they know about Billie Elish. So why should cadwallader care what we think? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39915124) |
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Date: April 1st, 2020 10:49 AM Author: Olive dilemma I don't even think about them. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39915216) |
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Date: April 1st, 2020 11:10 AM Author: Confused parlour factory reset button Will they also be cutting expectations for billable hours by 25% too? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39915406) |
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Date: April 1st, 2020 11:15 AM Author: Histrionic Trust Fund Property Economy's already taking care of that (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39915449) |
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Date: April 1st, 2020 5:23 PM Author: boyish national people who are hurt Curtis, Mallet-Prevost joins the 25% club. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39918172) |
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Date: April 1st, 2020 7:07 PM Author: boyish national people who are hurt Arent Fox joins the 25% club. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39918848) |
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Date: April 3rd, 2020 6:08 PM Author: boyish national people who are hurt Venable! 20% club! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39934217) |
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Date: April 3rd, 2020 6:10 PM Author: boyish national people who are hurt Norton Rose! 15%! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39934235) |
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Date: April 7th, 2020 2:57 PM Author: boyish national people who are hurt He was Of Counsel at Blank Rome! 15% cut across the board! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39962197) |
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Date: April 8th, 2020 3:26 PM Author: boyish national people who are hurt Take 15% off your next visit to BRYAN CAVE! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39970449) |
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Date: April 8th, 2020 3:27 PM Author: boyish national people who are hurt Orrick (V34): top 10%! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39970458) |
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Date: April 13th, 2020 2:59 PM Author: boyish national people who are hurt Kilpatrick: 5%. Why bother? (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#40005517) |
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Date: April 13th, 2020 2:59 PM Author: boyish national people who are hurt Mintz, everybody. It's Mintz! 10%. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#40005518) |
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Date: April 13th, 2020 7:47 PM Author: boyish national people who are hurt Baker McKenzie. How low the mighty have fallen. 15% (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#40007997) |
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Date: April 14th, 2020 2:51 PM Author: boyish national people who are hurt Ballard Spahr. 15%! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#40013521) |
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Date: April 16th, 2020 10:06 PM Author: boyish national people who are hurt Dentons: 20% cuts! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#40031486) |
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Date: April 16th, 2020 10:07 PM Author: boyish national people who are hurt K&L Gates: 15%! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#40031489) |
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Date: April 16th, 2020 10:08 PM Author: boyish national people who are hurt Reed Smith: 15%! (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#40031501) |
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Date: April 20th, 2020 6:28 PM Author: boyish national people who are hurt Fox Rothschild: 10% (1st years); 15% (2d+ years) (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#40056870) |
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Date: April 27th, 2020 1:12 PM Author: boyish national people who are hurt Baker Botts: 20% (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#40102957) |
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Date: April 1st, 2020 7:21 PM Author: razzmatazz nursing home trump supporter Seems like the smaller v100s are going to pull this pay cut bullshit, but no major player has followed (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39918915) |
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Date: April 3rd, 2020 8:32 PM Author: Galvanic athletic conference We are half a month into an 18 month slog. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39935366) |
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Date: August 12th, 2023 4:41 AM Author: massive bull headed gunner locale (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#46659817) |
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Date: April 7th, 2020 2:59 PM Author: Lilac Mentally Impaired Orchestra Pit because they can probably ride it out a lot longer and not hire a summer class. The V50 wants to clearly separate itself from V51-100. This has been the trend for years. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#39962204) |
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Date: April 13th, 2020 3:03 PM Author: Aggressive house pervert Orrick is a pretty major firm and a cut above most of those ITT. Surprised by that. Cadwalader too, but it's Cadwalader so nothing really surprising there I guess. (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#40005549) |
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Date: April 13th, 2020 7:54 PM Author: Fantasy-prone Stag Film The Orrick attorneys I've interacted with seemed legit dumb (http://www.autoadmit.com/thread.php?thread_id=4493928&forum_id=2#40008065) |