1
00:00:13,100 --> 00:00:16,000
Inflation has gone up 7% this year.

2
00:00:16,100 --> 00:00:20,900
De-SPACs are still happening. Normal M&A 
dealflow has returned, and partners refuse 
to turn down work.

3
00:00:21,000 --> 00:00:25,800
Mid-levels and seniors are billing 3,000+ 
hours. We're seeing historical attrition 
with all these lateral signing bonuses.

4
00:00:25,900 --> 00:00:30,700
Firms need to do something to retain associates 
or soon there won't be anyone to run deals.

5
00:00:30,800 --> 00:00:35,600
It's fine. Cravath will just double the scale 
this year and simultaneously announce special 
spring and fall bonuses.

6
00:00:38,100 --> 00:00:40,500
My fuhrer... Cravath...

7
00:00:45,000 --> 00:00:50,300
Cravath announced nominal raises in the bonus 
scale yesterday. Other firms are likely to 
match.

8
00:01:05,800 --> 00:01:12,100
Anyone who didn't attend Harvard, Stanford, 
or Yale, leave the room.

9
00:01:26,300 --> 00:01:28,700
That's bullshit!

10
00:01:28,800 --> 00:01:33,600
That's such incredible bullshit!

11
00:01:33,700 --> 00:01:38,500
The SPAC Boom and increased dealflow has 
partners lining their pockets!

12
00:01:38,600 --> 00:01:43,400
Meanwhile, I can't even get juniors to respond 
to my emails.

13
00:01:43,500 --> 00:01:48,300
I've been billing 300+ months since March 
of 2020!

14
00:01:48,400 --> 00:01:53,900
I have had clients select a preferred bidder 
on Friday and demand to sign by Monday pre-market!

15
00:01:54,000 --> 00:01:56,000
That was one nightmare client--

16
00:01:56,100 --> 00:02:00,700
We were still negotiating the schedules at 
3AM and still pushed it across the finish 
line to announce by 7AM!

17
00:02:00,800 --> 00:02:03,000
Everyone want to get the deal--

18
00:02:03,100 --> 00:02:08,200
We deserve a doubled scale this year! I don't 
know a single mid-level or senior that is 
under 2,700!

19
00:02:08,300 --> 00:02:17,200
Why did I work so hard in 1L and pick a V1 
over a V2 for? The unique rotation system?

20
00:02:17,300 --> 00:02:21,600
Frank Fried, Schulte, and Latham are all 
paying better than we are!

21
00:02:21,700 --> 00:02:35,600
I picked Cravath because it was a compensation 
leader, and the greedy partners have kept 
the profits to themselves. I would've been 
better off going to Mintz!

22
00:02:40,000 --> 00:02:50,300
Milbank, DPW, or Willkie better show that 
they're the new compensation leaders by at 
least doubling the scale so I could afford 
my student payments come February...

23
00:02:54,500 --> 00:03:01,500
I've watched all of my friends lateral for 
signing bonuses that would choke a whale!

24
00:03:01,600 --> 00:03:06,400
Meanwhile, I'm sticking around, billing 3,200s, 
hoping for partnership.

25
00:03:06,500 --> 00:03:12,400
But these greedy partners can't even share 
just a little bit of the wealth in the meantime.

26
00:03:12,500 --> 00:03:17,300
All I'm asking is an extra 90k. I make them 
that much in revenue in half a month at the 
rate that they bill me out for.

27
00:03:17,600 --> 00:03:22,200
It's okay. Cravath might still match Skadden's 
iPad giveaway...

28
00:03:28,300 --> 00:03:42,000
To think that I've stuck around for 6 years, 
even doing a capital markets rotation to 
do high-yield debt...

29
00:03:44,200 --> 00:03:46,900
when I could've gone to DPW and done real 
IPOs...

30
00:03:53,400 --> 00:04:02,500
I was a Yale economics undergrad, I could've 
gone into finance been on the buy-side with 
carry by now...

31
00:04:06,600 --> 00:04:08,800
At least I can still go collect $500k at 
Kirkland...