So Cravath announced bonuses equal to last year’s PLUS a “special bonus” to match the fall bonuses that some firms paid out this year. How do you think the market will respond? Will they match the special bonus? Match just the regular bonus? Something else?

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I think the market will match both except firms that let people go publicly.

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The fact that Morgan Lewis, not one of the top NY PPP firms, already matched, suggests that most firms that paid market bonuses last year will pay the bonuses this year.

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I feel like firms with minimum billable hour requirements will match. That way they can use that as an excuse to not pay out said bonuses while still technically still being considered market.

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They’ll match both if they haven’t already announced a different “special bonus”

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