Former V10 Summer Associate, Taking Qs

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Former V10 Summer Associate, Taking Qs

Postby Anonymous User » Sat Nov 27, 2010 4:35 pm

Did my summer program last summer. Taking questions for a while. Then I have to black out for a few days, and then I'll return for more Qs.

spondee
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Re: Former V10 Summer Associate, Taking Qs

Postby spondee » Sat Nov 27, 2010 4:36 pm

What was the ratio of hours spent eating and drinking to hours spent actually working?

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Re: Former V10 Summer Associate, Taking Qs

Postby Anonymous User » Sat Nov 27, 2010 4:49 pm

Since we're in an economic crisis, most summers were pretty careful about the drinking. Personally, I spent many hours at lunch most days of the week. At evening events, I'd just nurse a drink. No sense in getting too drunk and doing something hugely inappropriate as a result.

I worked a lot, but that was because I wanted the experience. I know summers who did very normal hours and ended up with offers. My commitment was hardly necessary, apparently.

spondee
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Re: Former V10 Summer Associate, Taking Qs

Postby spondee » Sat Nov 27, 2010 4:51 pm

Do you think you came away with a realistic sense of how hard the juniors work? And what work is really like within each practice area?

How did your impression of the firm and the work post-summer differ from your impression during interviews?

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Re: Former V10 Summer Associate, Taking Qs

Postby Anonymous User » Sat Nov 27, 2010 4:56 pm

do u know anyone who got dinged for bad credit?

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Cavalier
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Re: Former V10 Summer Associate, Taking Qs

Postby Cavalier » Sat Nov 27, 2010 4:57 pm

Pics or it didn't happen.

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Re: Former V10 Summer Associate, Taking Qs

Postby Anonymous User » Sat Nov 27, 2010 5:03 pm

Responding to Spondee:

(1) I think I did. I was able to work in most practice groups, so I saw the workload patterns. I got a sense of the hours: Firm is open and operating pretty much 24/7. Then again, it's a V10, so one shouldn't expect less.

My own work experience might have been too rosy. The assignments I was given were very substantive. I rarely had some really boring and rote task to do. I suspect the summer program was geared to make that happen, which was great. I'll probably have a lot more grunt work as a junior associate.

(2) I loved my firm during the interview process, and I loved them even more after my summer. My impression did change. I realized that the environment was a lot more "laid back." Now, by "laid back," I don't mean people worked less or that people were lazy. I just mean that I felt like, going in, all my actions would be put under a microscope. And on many occasions, I thought I said or did something dumb. But at the end, of the day, unless you did something huge, you were fine. People were informal and there's just an emphasis on getting things done, and not being pedantic about it.

I can't say this is universal to all firms. A friend of mine at another firm was no-offered for doing things that I thought were OK (and that generally are OK). I suspect that, when the firm is looking to no-offer people, they will find ways to do so and become ultra-nitpicky. At the end of the day, just look at the general climate of your firm and behave accordingly. When in Rome...

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Re: Former V10 Summer Associate, Taking Qs

Postby Anonymous User » Sat Nov 27, 2010 5:04 pm

Anonymous User wrote:do u know anyone who got dinged for bad credit?


I know this meme. I think it's hilarious. I'm tempted not to answer this question, or at least to answer it ambiguously, so I can freak out some people.

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Re: Former V10 Summer Associate, Taking Qs

Postby Anonymous User » Sat Nov 27, 2010 5:08 pm


A friend of mine at another firm was no-offered for doing things that I thought were OK (and that generally are OK)..



friend's (ex-)firm vault range?

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Re: Former V10 Summer Associate, Taking Qs

Postby Anonymous User » Sat Nov 27, 2010 5:13 pm

Don't know. Don't really keep track of the vault rankings outside the first ten or so firms. Probably somewhere in the V50-V100. I'd look it up, but I have to pee and head out in a second.

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Re: Former V10 Summer Associate, Taking Qs

Postby HamDel » Sat Nov 27, 2010 5:22 pm

Cavalier wrote:Pics or it didn't happen.


What a stupid ass joke. Why did you think this would be funny at all?

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Re: Former V10 Summer Associate, Taking Qs

Postby Kohinoor » Sat Nov 27, 2010 9:00 pm

What was your firm's stance on 2L grades?

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Re: Former V10 Summer Associate, Taking Qs

Postby Sup Kid » Sat Nov 27, 2010 10:20 pm

Can you discuss how you were paid, specifically in terms of how the taxes were accounted for and how many allowances you put on your W-4 form? Did they adjust for a $30k annual salary, or did they take out taxes assuming a $160k salary (even though you were only there ~10 weeks)? Thanks.

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Re: Former V10 Summer Associate, Taking Qs

Postby Anonymous User » Sun Nov 28, 2010 12:53 am

Kohinoor wrote:What was your firm's stance on 2L grades?


From what I noticed:

I had very good evidence that they cared about 2L grades before I started my summer program, but it turns out I was completely wrong. If they had cared about grades, they would have no offered me. Mine dropped.

You just get a sense of this over the summer. As you complete assignments and such, it becomes increasingly apparent that firms care about your work product most of all. From what I experienced and my friends at other firms experienced, the overall impression was that firms only cared about grades when they were really looking to no-offer people.

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Re: Former V10 Summer Associate, Taking Qs

Postby Anonymous User » Sun Nov 28, 2010 12:56 am

Sup Kid wrote:Can you discuss how you were paid, specifically in terms of how the taxes were accounted for and how many allowances you put on your W-4 form? Did they adjust for a $30k annual salary, or did they take out taxes assuming a $160k salary (even though you were only there ~10 weeks)? Thanks.


(1) Taxes were accounted for in the same way they would be accounted for with any other employer. Applicable city, state, and regular taxes are withheld from your paycheck. And, yes, they were withheld based on the notion that your income would be $160,000/year.
(2) You can put as many allowances as you want on your W-4, either by using the worksheet or by adjusting what you truly believe will be your income situation come tax time. In other words, if you feel comfortable giving the government an interest free loan, do the worksheet and wait for your refund. If you don't, do the math and enter as many allowances as you think necessary to account for the disparity between your actual yearly income and your attributed income.

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Re: Former V10 Summer Associate, Taking Qs

Postby uvahooo » Sun Nov 28, 2010 12:58 am

ranking/school?

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Re: Former V10 Summer Associate, Taking Qs

Postby Anonymous User » Sun Nov 28, 2010 1:00 am

uvahooo wrote:ranking/school?


HYS. Top third or so after 1L year.

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D-ROCCA
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Re: Former V10 Summer Associate, Taking Qs

Postby D-ROCCA » Sun Nov 28, 2010 1:00 am

Are you looking forward to working for this firm after you graduate?

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Re: Former V10 Summer Associate, Taking Qs

Postby Anonymous User » Sun Nov 28, 2010 1:02 am

Most certainly, yes. 3L year is an absolute drag. I just want to be sitting behind my desk and getting work done.

The economy was at its worst when I interviewed. I consider myself extremely fortunate. Some of my classmates are not so fortunately situated, even though they deserve it just as much, if not moreso.

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Re: Former V10 Summer Associate, Taking Qs

Postby D-ROCCA » Sun Nov 28, 2010 1:05 am

Ideally, do you see yourself working there 10 years down the road? Did you know if you wanted transaction or litigation going on? If not, did you get to work on both and see which one you liked better?

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Re: Former V10 Summer Associate, Taking Qs

Postby DoubleChecks » Sun Nov 28, 2010 1:06 am

Anonymous User wrote:Most certainly, yes. 3L year is an absolute drag. I just want to be sitting behind my desk and getting work done.


that's the spirit! if i were a hiring partner, id hire you strictly off that statement :P

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NU_Jet55
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Re: Former V10 Summer Associate, Taking Qs

Postby NU_Jet55 » Sun Nov 28, 2010 1:07 am

Can I borrow like $150k?

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D-ROCCA
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Re: Former V10 Summer Associate, Taking Qs

Postby D-ROCCA » Sun Nov 28, 2010 1:07 am

Also, if you had work experience prior to your SA, what was it, and was it useful?

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Re: Former V10 Summer Associate, Taking Qs

Postby pasteurizedmilk » Mon Nov 29, 2010 10:19 am

Anonymous User wrote:
Anonymous User wrote:do u know anyone who got dinged for bad credit?


I know this meme. I think it's hilarious. I'm tempted not to answer this question, or at least to answer it ambiguously, so I can freak out some people.

So you're saying your firm adheres to the standard strict 720 cutoff? :lol:


What was your workign space like - did you share an office? Did social events seem mandatory? (I ask the latter b/c I will be a few hours apart from my SO and will likely travel to see her most weekends, hence missing a lot of social events)

What kind of hours did most SAs pull?

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Re: Former V10 Summer Associate, Taking Qs

Postby Anonymous User » Mon Nov 29, 2010 11:24 am

D-ROCCA wrote:Ideally, do you see yourself working there 10 years down the road? Did you know if you wanted transaction or litigation going on? If not, did you get to work on both and see which one you liked better?


Ideally, yes. Realistically, it probably won't happen. There are just so many logistical problems to making partner at a firm like this. It doesn't seem too difficult to generate business, especially if you have the personality. The bigger problem seems to be the process for bringing in the business: it has to be the type of work the firm is willing to do (i.e., the size of the matter could disqualify it). There's also the huge elephant in the room: Conflicts. If you're a big firm, especially a V10, you're often conflicted out. I know many former big law partners in general who left their firms and started their own practice because of that factor alone.

I was leaning toward litigation when I started. I was able to do both over the summer. Didn't like transactional.

I will say, though, that outside of the actual work, transactional seems like the better field. Better exit options, especially from a V10, and apparently the closing parties are amazing. A friend of mine who was a litigation partner at another firm would tell me that the "end of case" parties were "weak." Deal work also moves differently; deals don't last years, unlike big, complex litigation. And I would even go so far as to say that if you want to do litigation, and possibly some trial work, it's best to avoid M&A firms. Litigation groups in those firms tend to be "service groups," smoothing out wrinkles that inevitably arise from the deals their corporate groups do (i.e., the inevitable shareholder suit after consummating the merger). Litigation groups in these firms also tend to do securities work, which rarely goes to trial.

D-ROCCA wrote:Also, if you had work experience prior to your SA, what was it, and was it useful?


I had no applicable work experience (I realize this leaves open the question of whether I had any work experience, applicable or not. I will not answer that).

What was your workign space like - did you share an office?


Will not answer this question other than to say that if you're working at a V10, expect to share an office.

The workspace was great, though. Not sure what specific details you're looking for.

Did social events seem mandatory?


Not all social events are mandatory, but you should strive to attend most (if not all) of them. The firm creates these events to enable you to meet people, and for people to get to know you. I think people notice when you don't appear at these events, and it's a little insulting that the firm spent resources on you that you simply didn't take advantage of. The summer program is not just work experience. It's also an opportunity for you to create connections that you will leverage as a full time associate.

What kind of hours did most SAs pull?


Varied based on the desire for work. Some SAs just did the regular hours, others put in many more. All received offers.




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