firm financial health and no-offer reputations

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xkcd
Posts: 5
Joined: Sun Feb 27, 2011 5:11 pm

firm financial health and no-offer reputations

Postby xkcd » Sat Jul 02, 2011 3:20 pm

i'm a little overwhelmed trying to keep up with which firms are doing poorly financially and/or still having problems with deferring or no-offering SA's, etc.

can anyone just give me a brief rundown (or any thoughts) on firms (nyc in particular, but also dc/boston) that are:
- doing really well financially
- still not recovering too well financially
- losing partners
- have reps for no-offering a decent portion of SA classes
- still have graduating classes that are being deferred

thanks!

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thesealocust
Posts: 8446
Joined: Mon Oct 20, 2008 8:50 pm

Re: firm financial health and no-offer reputations

Postby thesealocust » Sat Jul 02, 2011 3:59 pm

Since it's hard to summarize, here are useful resources:

(1) NALP director lists offer rates for the last year, which is useufl. It also has a 3 year history of class size, which is useful.

(2) Here's the above the law layoff tracker, which will show you who took it in the teeth over the past 3 years or so: http://lawshucks.com/layoff-tracker/

(3) OMM has some troubles, but they don't appear quite as dire at Howrey's (which actually did just dissolve).

(4) It's pretty easy to count firms that weathered the recession well. Sullivan & Cromwell, Davis Polk, Cleary, and Covington all jump to mind as very large firms that more or less kept their course: Layoffs, deferrals, slashed summer class sizes, and low summer offer rates were more or less avoided by those firms. I'm sure there are a few more, but almost every firm suffered from one of those four recently.

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Cavalier
Posts: 1994
Joined: Mon Apr 13, 2009 6:13 pm

Re: firm financial health and no-offer reputations

Postby Cavalier » Sat Jul 02, 2011 4:17 pm

xkcd wrote:i'm a little overwhelmed trying to keep up with which firms are doing poorly financially and/or still having problems with deferring or no-offering SA's, etc.

can anyone just give me a brief rundown (or any thoughts) on firms (nyc in particular, but also dc/boston) that are:
- doing really well financially
- still not recovering too well financially
- losing partners
- have reps for no-offering a decent portion of SA classes
- still have graduating classes that are being deferred

thanks!

I don't think there's a comprehensive list of firms that fit into one or more of those categories (it would be far too long!), but you don't need one. Once you're seriously considering a firm, look at its NALP form, its Vault, Chambers, and Lateral Link pages, and do a search for it on Above the Law, Google News, AutoAdmit (seriously), TLS, and so on. You'll be able to get a decent picture of how it's doing.




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