If you listen to the Thinking Like A Lawyer podcast every week (and why don’t you?), You’ve heard our recent discussion Davis Polk’s “bonus gifts”. Instead of resting on their laurels as Biglaw Farm Bonus 2020 Champion, DPW went the extra mile and offered associates a selection of gifts or experiences of approximately $ 1,500 each.
That’s a great idea ! Money can always reign supreme, but the big bonuses often go right into student loan payments and can leave lawyers feeling a bit empty. With the gift packages – which most of all don’t compromise the normal bonus – lawyers are forced to do a little something for themselves and that’s a big deal after a year of pushing employee well-being to the point. a break.
Anyway, on the show, we asked insiders at Davis Polk to let us see the full range of options available so we could offer our feedback and you all delivered. So let’s start breaking down Davis Polk’s offerings.
Platoon … but for your wall:
JOE: It seems like the hottest thing in sports right now, but without the woman face worried problematic. To me it’s like having the Evil Queen mirror on your wall, but every time you ask who’s the prettiest he’ll say ‘not you, now drop it and give me 20’, but I don’t. may not be the ideal audience for exercise culture. It’s a B + for me – a solid option but not everyone’s cup of tea.
KATHRYN: A- Nothing will be everyone’s “cup of tea” – that’s why there are 13 options! But not only is The Mirror on trend (and with a relatively small footprint that’s suitable for apartment living), it’s perfect for COVID living. Like, even though the gyms are open, do you want to go in one and wear a mask while training? No? Hey, here’s a mirror.
We get it, you think we’re out of shape:
JOE: I admit I had never heard of the Nike By You program, but apparently they’ll let you design your own shoes? After years of trying to sell the world their own designer shoes, is the game up to anyone?
Still, I put this package on the low end. I’m sure these are all premium amenities, but it just doesn’t feel as luxurious as some of these other packages. It is a C.
KATHRYN: I agree that it’s not that generous, but in my inflation note I’ll give it a B. But I’ll also say that a person’s “training gear” is the ” loungewear ”from another. my personal loungewear collection was one of the few bright spots in 2020/21.
Invoice to customer development:
JOE: I need a little more clarity on what constitutes a “memorable course,” but could you imagine a golfer having the chance to go to, say, Pebble Beach or something? It must be the ultimate trip for someone. So I’m going to give it an A because for the right audience it’s a dream come true, which makes it a wonderful option.
KATHRYN: Ugh, I guess this might be someone’s dream, so A-. But I can think of many other sporting events that I personally would enjoy more. Seems like a nudge to tell associates, hey, that’s also good for chatting customers.
JOE: I don’t know. Golf is a fairly popular activity beyond just gossip. Obviously you and I would rather go to the Monaco Grand Prix or something, but people really love these courses. The ads call them “holy ground,” which I think is more appropriate for a place like the Rose Bowl, but I understand.
The TV you’ll never be home to watch:
JOE: My only gripe here is that I hope a Biglaw associate has already invested in a solid entertainment system. When I received my first Biglaw paycheck, I immediately purchased a high-end TV and speaker system. Frankly, the latter is a must-have for new high net worth associates, because as TV technology continues to evolve rapidly, an elite speaker set can last for decades as long as you upgrade the receiver and maintain them. cables in good condition. It’s a B- because it’s good, but I’m not sure if it’s an option worth using your pick.
KATHRYN: B +. It’s nice, and working from home all the time has probably made some people realize that theirthe system used was not up to par when it was in continuous use. And even post-COVID homework will always be a thing, so a worthy of interest investment and pretty good timing for the upgrade.
Since every movie theater is bankrupt now:
JOE: I hated this one until I remembered that not all lawyers live in New York. A 120 ″ outdoor screen is pretty useless in a studio in a luxury skyscraper. But if you have a garden, this is a great gift. Just remember that the spotlight is useless until it’s legitimately dark outside. No amount of retail spotlight lumens will even overcome overcast sunlight. Honestly, it might be worth it for the popcorn alone. This fits with one of my rules for a good gift voucher – something the recipient likes but would never buy for themselves because they would always be dissuaded from it. Go with a B here because it’s a C if you are in town but an A- if you have room.
KATHRYN: Yeah, the city mouse / field mouse dichotomy is real. But, Davis Polk is a gigantic company and there are many other options, so A-.
Build your own ribwich:
JOE: I’m not sure the value is here compared to some of the other packages. Depending on the size of this smoker, the equipment involved does not approach the value of $ 1,500. Professional barbecue classes in St. Louis are a big deal if that’s your thing, but I’ve always leaned towards Kansas City on this issue. That’s fine, but maybe buy it yourself and use the free gift elsewhere. Another B, I think.
KATHRYN: Barbecuing is an art, and the lessons from a master sound amazing. A-.
Mandatory option for gourmets:
JOE: Le Creuset has gotten to the point where the Dutch Oven could be worth $ 1,500 on its own. Still, I am not sure about this. The pandemic is coming to an end, which keeps you coming back to town, but for now, ordering takeout from gourmet restaurants seems like a waste. It won’t taste good because these restaurants really don’t cook their food for travel, as the defector’s Drew Magary recently pointed out. Still, it’s a B + because real food nuts will like it but you’re probably better off with other options.
KATHRYN: At first I thought I was a class fairy, but no, Joe is a tough, classic binder. A. Yes, yes, the equipment is top notch, and no matter how much steam is gained from deploying the vaccine, there will be LOTS of opportunities to use that $ 500 in take out and sometimes not. having to cook tastes DELICIOUS.
Happy Hour, but classy:
JOE: What if you only drank wine in boxes? Seriously, I think this package fits in a weird area. If you’re really a connoisseur, these are things you probably already have, and if you’re a wine lover, there’s probably something else on the list that you’d want more of. And then, who doesn’t finish a bottle of wine by opening one? Do people really want half-consumed wine? Won’t that eventually dry out the cork? So many questions. I leave with a B, which could go up to a B + depending on the quality of the wine of the selected month.
KATHRYN: A +. WINE MOAR, plzzz.
Billing at 3 a.m., but from home:
JOE: Chalk this one up with “things I could have used last year”. True beanophiles would have treasured this for a year glued to their couches with barely a Starbucks in sight, but with the world opening up, I think they’ll want to go out for coffee more. I may be wrong. I’m going C.
KATHRYN: B. It’s not Iota, but still nice.
After the zoom you will need pants with this jacket:
JOE: I never liked shopping and that’s why it’s probably the number one package from my point of view. Lawyers tend not to be as fancy as they could be, which gives a real professional the power to solve this problem. And if the associate is already stylish, it’s still $ 1,000 and someone to chat with while picking up new things. I think this is my 1, although I am afraid that I will be too practical and not really make myself happy with this choice. It’s an A for me.
KATHRYN: A +. My first thing at the post office is to go shopping, in person, and try on clothes, and not have to go to the post office when something looks amazing in theory, but horrible. on my body. Doing it with corporate pennies is just too perfect.
Does this come with vacation days?:
JOE: My work bag was a TUMI and it was a fantastic bag. Coupled with $ 1,000 to travel and this is another candidate for the best package. Once the vaccine gets the world comfortable, people will want to hit the road, and the holidays will go much further with a few prepaid nights. Or, if you want to go crazy, have a night in the Presidential Suite somewhere. For me it is option number 2, but I could be persuaded to give it the first place. Another offer A.
KATHRYN: A +. Everyone wants to travel again. $ 1,000 to spend on the vacation you’ve been dreaming of for a year is a delicious thank you.
A river crosses it:
JOE: I’m not an outdoor enthusiast enough to assess the value of this package. I think if I was rafting it would end a bit like the time Bart joined the Junior Campers.
I’m going A here because it’s basically the Marriott travel package above, but for people who get high contact from an REI.
KATHRYN: I’m… not an outdoorsy girl – and I feel judged by the people who are. B in principle.
Triple black diamond is easy, isn’t it?:
JOE: The inimitable Slavoj Zizek accurately described my feelings when he said, “You climb a mountain and slide down. Why not stay in the back and read a good book? Except that instead of “read a book”, put “touch the bar”. But I’m trying to be fair and if you’ve decided to embrace the extremely expensive world of skiing, a ticket to the “Lake Tahoe to Switzerland to Japan” trails looks pretty amazing. Again, that falls into this A deal for people who really like this stuff.
KATHRYN: The existence of après-ski goes from being a purely sporty option to a fun trip. A.
JOE: Okay, I think if I chose I would go with Nordstrom or the Marriott travel package. Having said that, if I liked skiing or golfing, these would climb to number one.
KATHRYN: Travel, clothes, or wine. This is my story and I stick to it.
JOE: There really is no wrong answer and another round of kudos to Davis Polk for injecting this concept into Biglaw’s times. Whichever you choose, you’re in great shape. Or, you will be if you get the mirror I guess.