V10 outpost office vs. V50 local firm

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Would you rather go to:

A V10 outpost office, low regional Vault ranking
4
17%
A cool regional firm, but V40 or so
19
83%
No preference
0
No votes
 
Total votes: 23

Anonymous User
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V10 outpost office vs. V50 local firm

Postby Anonymous User » Mon Sep 19, 2011 1:41 am

Are there definite bands to Vault? When do the firms get "iffy" in the eyes of the business/law world? Should I be checking Chambers or something?

Here's my concern. A V10 firm, regional office vs. local firm. I don't see much discussion going on about this. Vault's regional rankings seem like a game-changer to me, when you realize a V40 firm can be high regionally, and a V10 can be lowly. A firm like Weil, for example, has a lot of outposts. Is the average Weil lawyer in TX less qualified in any way than a NYC one?

Does this really matter for general "prestige"/reputation/exit options?

I would love to get some informed discussion on this. I generally want to go with my gut (=local firm) I don't want to pass up a golden opportunity (="Gee Mr. Anonymous, you once worked at a V10 somewhere, you must be frikkin amazing")

Anonymous User
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Re: V10 outpost office vs. V50 local firm

Postby Anonymous User » Mon Sep 19, 2011 8:11 am

Vault ranking is largely irrelevant outside of NY. If you're in Texas, say, Baker Botts, V&E, and Fulbright are all known as being the top firms in the region. To the extent that firm "prestige" matters (and it matters a lot less than most people here seem to think), you'd be better off going to one of those three firms than Weil if you want to be in Texas. But you should also consider practice area strength, firm financial health, fit, etc.

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Bronte
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Re: V10 outpost office vs. V50 local firm

Postby Bronte » Mon Sep 19, 2011 8:25 am

Although the extent to which Vault rankings are useless is vastly overblown, this is a textbook example of when they should be ignored.

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Re: V10 outpost office vs. V50 local firm

Postby Anonymous User » Mon Sep 19, 2011 8:30 am

Agree with all the previous posters about thinking about regional strength.

Instead of Vault - the Chambers rankings are better (the mention of "bands" makes me thing you may have accounted for this already). But just in case, put in the necessary search criteria (practice area, state) and see which of the two is actually known for work in that region.

Anonymous User
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Re: V10 outpost office vs. V50 local firm

Postby Anonymous User » Tue Sep 20, 2011 12:50 am

I've been wondering about this sort of comparison too.

Does what you all have been saying hold true when we're talking about a DC outpost office that works closely with the NY mother office? E.g. Paul Weiss or Davis Polk. I've heard Paul Weiss DC litigation is kickass.

terribleperson
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Re: V10 outpost office vs. V50 local firm

Postby terribleperson » Tue Sep 20, 2011 1:01 am

Bronte wrote:Although the extent to which Vault rankings are useless is vastly overblown, this is a textbook example of when they should be ignored.

Omerta
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Re: V10 outpost office vs. V50 local firm

Postby Omerta » Tue Sep 20, 2011 10:35 am

But think about EXIT OPTIONS!

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Re: V10 outpost office vs. V50 local firm

Postby Anonymous User » Tue Sep 20, 2011 12:11 pm

Omerta wrote:But think about EXIT OPTIONS!


Exactly my concern. Unless above poster was being sarcastic.

I'm wondering if the "Davis lawyer" will always be perceived as better/smarter than the guy who did as well, but took the regional firm.

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Grizz
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Re: V10 outpost office vs. V50 local firm

Postby Grizz » Tue Sep 20, 2011 12:47 pm

Anonymous User wrote:
Omerta wrote:But think about EXIT OPTIONS!


Exactly my concern. Unless above poster was being sarcastic.

I'm wondering if the "Davis lawyer" will always be perceived as better/smarter than the guy who did as well, but took the regional firm.

Sarcasm
---------
Your head

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rayiner
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Re: V10 outpost office vs. V50 local firm

Postby rayiner » Tue Sep 20, 2011 1:03 pm

Anonymous User wrote:I've been wondering about this sort of comparison too.

Does what you all have been saying hold true when we're talking about a DC outpost office that works closely with the NY mother office? E.g. Paul Weiss or Davis Polk. I've heard Paul Weiss DC litigation is kickass.


Davis Polk is quite known for their financial regulatory work, but I don't think the DC office takes SA's...

More generally, whether you should take the V10 outpost or the V50 local firm depends a lot on what you want to do. One of the things Vault is correlated with is a firm's strength in traditionally bank-driven work: capital markets and M&A. The traditional V10s like DPW and Simpson have strong relationships with NYC banks and private equity firms that they carry over to their outposts (particularly in California). In capital markets, for example, DPW MP and Skadden SV are as good or better than any California-native firm except Latham.

The less you want to bank-driven work, the less sense it makes to take the V10. Particularly if you want to stay in that region, the V10 reputation isn't going to really give you a boost (even though the V10 outposts are in some cases even more selective than the NY motherships). For example, if you want to represent issuers in high-tech IPOs, rather than underwriters, you'll probably find WSGR to have a stronger practice than the V10s for what you want to do.




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