Cadwalader- How bad is it really? (Other options are limited

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Cadwalader- How bad is it really? (Other options are limited

Postby Anonymous User » Mon Sep 10, 2012 8:31 pm

So I was lucky enough to get an offer from Cadwalader at OCI, and this is my dilemma-

I have zero desire to be a partner, would love to eventually move out of the legal side of work to doing finance/business non-legal work.

Cadwalader is by far the best vault ranked offer i have; I have another in the low v100's and one smaller market paying firm in ny that isn't vault ranked.

My two main concerns are:

Not getting fired/getting an offer after my summer

AND

Exit options.

I've talked to a lot of ppl within the firm that say things have changed from their bad rep, but I'm still understandably really scared of signing onto a bad situation.

Advice? Thoughts?

Thank you so much.

delusional
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Re: Cadwalader- How bad is it really? (Other options are limited

Postby delusional » Mon Sep 10, 2012 8:43 pm

I have no expertise but I'll contribute just to "talk it out". What is the alternative firm? Some firms are ranked lower but are competitive in certain areas. Other firms are ranked lower, and no one is quite sure why.

I interviewed with Cadwalader but did not get a callback. In my research, I was struck by the way the managing partner admitted that the problems existed and discussed how they were combating it. I thought that was a good sign. That said, old cultures, and this one goes back to like 1795, die hard.

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Re: Cadwalader- How bad is it really? (Other options are limited

Postby Anonymous User » Mon Sep 10, 2012 8:58 pm

delusional wrote:I have no expertise but I'll contribute just to "talk it out". What is the alternative firm? Some firms are ranked lower but are competitive in certain areas. Other firms are ranked lower, and no one is quite sure why.

I interviewed with Cadwalader but did not get a callback. In my research, I was struck by the way the managing partner admitted that the problems existed and discussed how they were combating it. I thought that was a good sign. That said, old cultures, and this one goes back to like 1795, die hard.


OP here- this is helpful, appreciate it; the other options I'm looking at are either Stroock or Curtis Mallet.

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Re: Cadwalader- How bad is it really? (Other options are limited

Postby Anonymous User » Mon Sep 10, 2012 9:13 pm

Maybe you have in the relevant threads, but can you indicate when you interviewed/heard back for those other two?

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Re: Cadwalader- How bad is it really? (Other options are limited

Postby Anonymous User » Mon Sep 10, 2012 9:20 pm

Re: getting an offer after summer- NALP shows that they made offers to their entire class in 2011, and though I haven't seen data for this year, one of my interviewers said the same is true for this past summer's class.

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ryanmot
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Re: Cadwalader- How bad is it really? (Other options are limited

Postby ryanmot » Mon Sep 10, 2012 11:02 pm

It all depends on the practice group and partners you work for. It can go either way with CWT. Only problem is that the odds you get bad partners are much higher at CWT. And just know, for the sake of knowing, that there management couldn't give a **** about associates. They'll do whatever to keep partners profits up, including things that other firms would not consider doing.

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Re: Cadwalader- How bad is it really? (Other options are limited

Postby Anonymous User » Mon Sep 10, 2012 11:22 pm

As the last poster stated, my impression is that it depends significantly on which partner you work for. The culture is more "kill-what-you-eat", especially with regards to the partnership structure (they focus on attracting rainmaker partners from lockstep firms), which means the caliber of the work and the clients are top-notch, but that also means there is more of a mercenary culture, less regard for associates, and miniscule partnership prospects.

What it means for you: exit options will be great, especially in banking and finance, and it seems like the firm doesn't no-offer or fire junior associates much more than peer firms. On the other hand, it won't be a collegial atmosphere, you might be stuck with bad partners, and if you don't develop as a lawyer/find a partner or two that likes working with you, you might be stealthed/pushed out in a few years.

Obviously this is your decision and you should use your second-visits and think closely about your priorities-- honestly, sometimes it really does come to something like gut feel. But I tend to think that unless you really enjoyed the people at Stroock or are into their Real Estate practice, or alternatively your first priority is a collegial work environment and you couldn't stand the folks at Cadwalader, it's hard to turn down Cadwalader's superior reputation and caliber of work (Chambers Band 1 securities, Band 2 derivatives).

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Re: Cadwalader- How bad is it really? (Other options are limited

Postby Anonymous User » Thu Sep 20, 2012 5:35 pm

bumping somewhat old thread because also relevant to my interests:

cadwalader has stronger rankings than the firms OP mentioned in a lot of fields as above poster mentioned, but i'm curious how that interacts with the importance of getting substantive experience early on

in other threads, i recall associates commenting that both things are important in terms of exit options -- so i'm wondering, is the difference in rankings so important as to make up for the possibility you could end up doing less substantive work earlier on at cwt? is that then more of a problem if you are pushed out in a few years? are reputation and experience weighted differently by exit options depending on whether you do corp or lit?




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