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Mentor
Never. Once I worked on a deal that involved a bakery and they sent over some cookies.
For some reason, I had a surge of deal toys from bankers during COVID. Have at least two more coming soon.
On the closing dinner front, I make a point of doing a closing dinner with the client after basically every deal. For the ~$10k cost, it really strengthens the relationship with the client. It also often leads to discussion of additional deals in the pipeline which is basically instant ROI. I also try to do lunch or dinner with the associate team as a thank you (senior associates usually invited to the closing dinner with client, too).
This is fabulous
No deal toys, but will bully the Partner into having a deal dinner/lunch. This is especially valuable if the Juniors and the Partners haven’t had much direct interaction.
OP - Follow up! Any partner worth working for is going to be happy to do it. A lot of the time, it just slips my mind with the million other things I’m thinking about.
I’ve never actually gotten a proper deal toy, but one client sent me a pair of AirPods Pro and a fancy carry on luggage after closing a serious deal for them - this was right on the middle of the pandemic. By far the nicest thing a client has ever gotten for me.
Been practicing for 10 years and have been to exactly 2 closing dinners and the last one was probably 6 years ago. I do have a fair number of deal toys, but again I probably got the last one 5 years ago.
All of the closing dinners ive been to in past 3 years involved deals in hospitality business. Hotels/high-end brands etc. Otherwise no. Last deal toy I had was after we settled/closed a dispute ongoing for the past 7 deals. The managing partner was the lead attorney and he ordered the deal toy for us/other parties. So its VERY rare.
Enthusiast
What was the toy?
Mentor
Last dinner I went to was in autumn 2019 - last deal toy from that client as well.
I know a third year at Weil that has gotten but they seem rare
Enthusiast
Well, I guess a “Thank you” note doesn’t count.
Wait they don’t make deal toys anymore?
No deal toys or dinners but we get some extra $$ to use as stipend and self care after a deal closes
My husband’s been an M&A attorney at 3 big firms (in LA, Chi, and Sea) during a 10 year period and has almost always gotten a deal toy. We could buy a trophy case for all his deal toys. Some times, when he was the most junior associate, he got to design them. Closing dinners have only happened a handful of times tho. He’s been in house since the pandemic and has switched his practice area so no deal toys since the move. Have things changed this much since then?
Also, I used to think a deal toy was literally a toy (like a plastic figurine related to the deal/client) so I was kind of confused as to why a relatively cheap perk wasn’t happening anymore.
What is a deal toy?
https://en.m.wikipedia.org/wiki/Deal_toy
Yep