Really Late Offer from Latham, Now What?

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Anonymous User
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Really Late Offer from Latham, Now What?

Postby Anonymous User » Wed Sep 12, 2012 11:20 am

Hi guys,

Wondering if you could give me some advice. Just got a call from Latham NY yesterday with an offer - almost 1 month after I had a callback there. Have already accepted with Skadden. Makes me question if I made the right choice...not sure whether I want to do corporate or lit but leaning towards lit...any comments?

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Ratchet Jackson
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Re: Really Late Offer from Latham, Now What?

Postby Ratchet Jackson » Wed Sep 12, 2012 11:30 am

Anonymous User wrote:Hi guys,

Wondering if you could give me some advice. Just got a call from Latham NY yesterday with an offer - almost 1 month after I had a callback there. Have already accepted with Skadden. Makes me question if I made the right choice...not sure whether I want to do corporate or lit but leaning towards lit...any comments?


Stick with Skadden. You've already accepted. Buyer's remorse is normal but your hands are already tied. Not like you accepted an offer at a garbage firm. You're fine. Stop overthinking and start overdrinking.

LawIdiot86
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Re: Really Late Offer from Latham, Now What?

Postby LawIdiot86 » Wed Sep 12, 2012 11:32 am

RJ127 wrote:
Anonymous User wrote:Hi guys,

Wondering if you could give me some advice. Just got a call from Latham NY yesterday with an offer - almost 1 month after I had a callback there. Have already accepted with Skadden. Makes me question if I made the right choice...not sure whether I want to do corporate or lit but leaning towards lit...any comments?


Stick with Skadden. You've already accepted. Buyer's remorse is normal but your hands are already tied. Not like you accepted an offer at a garbage firm. You're fine. Stop overthinking and start overdrinking.


Agreed. You made a good choice, don't look back or fuck it up now.

Anonymous User
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Re: Really Late Offer from Latham, Now What?

Postby Anonymous User » Wed Sep 12, 2012 12:00 pm

Agreed. While reasonable minds can differ on whether Latham or Skadden are better, nothing looks worse than reneging on an accepted offer.

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thesealocust
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Re: Really Late Offer from Latham, Now What?

Postby thesealocust » Wed Sep 12, 2012 12:10 pm

For anyone else reading this, you should withdraw from every firm that hasn't rejected you (at least at the callback stage) once you accept an offer. This is primarily for the benefit of your classmates, since it means firms won't waste any more time considering you and might pick up your colleagues instead.

Anonymous User
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Re: Really Late Offer from Latham, Now What?

Postby Anonymous User » Thu Sep 13, 2012 3:27 am

thesealocust wrote:For anyone else reading this, you should withdraw from every firm that hasn't rejected you (at least at the callback stage) once you accept an offer. This is primarily for the benefit of your classmates, since it means firms won't waste any more time considering you and might pick up your colleagues instead.


THANK YOU for saying this. help your peers out; don't hoard offers, bro

Anonymous User
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Re: Really Late Offer from Latham, Now What?

Postby Anonymous User » Thu Sep 13, 2012 8:13 am

Anonymous User wrote:Hi guys,

Wondering if you could give me some advice. Just got a call from Latham NY yesterday with an offer - almost 1 month after I had a callback there. Have already accepted with Skadden. Makes me question if I made the right choice...not sure whether I want to do corporate or lit but leaning towards lit...any comments?


well, if it helps give you peace of mind, i like skadden way more than latham. offices are nicer too.

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Re: Really Late Offer from Latham, Now What?

Postby Anonymous User » Thu Sep 13, 2012 11:55 am

Latham NY is pretty great, but as others have already said, you accepted an offer already and should not renege (even if you want to).

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Re: Really Late Offer from Latham, Now What?

Postby Anonymous User » Thu Sep 13, 2012 3:21 pm

Don't forget what Latham did when the recession hit. Bob Dell still runs the show, and by all accounts they're ratcheting up leverage again. You don't want to be there for the next purge - especially not in NY.

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Re: Really Late Offer from Latham, Now What?

Postby Anonymous User » Thu Sep 13, 2012 6:30 pm

Anonymous User wrote:Don't forget what Latham did when the recession hit. Bob Dell still runs the show, and by all accounts they're ratcheting up leverage again. You don't want to be there for the next purge - especially not in NY.


NYC summer classes have been between 25 - 45 the last four or so years. They were 70+ prior to 2008. They appear to have learned from the past and are now growing more conservatively. Also, it is not like other V10 firms didn't lay people off, they just did it behind the scenes.

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rayiner
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Re: Really Late Offer from Latham, Now What?

Postby rayiner » Thu Sep 13, 2012 6:35 pm

Anonymous User wrote:
Anonymous User wrote:Don't forget what Latham did when the recession hit. Bob Dell still runs the show, and by all accounts they're ratcheting up leverage again. You don't want to be there for the next purge - especially not in NY.


NYC summer classes have been between 25 - 45 the last four or so years. They were 70+ prior to 2008. They appear to have learned from the past and are now growing more conservatively. Also, it is not like other V10 firms didn't lay people off, they just did it behind the scenes.


False equivelency. Latham laid off a much bigger %-age. They did so because they were much more leveraged. They did the same thing in the early 1990s and early 2000s. Their leverage ratio looks like a sawtooth. They leverage up consistently, then recession hits and their leverage plummets as they lay off everyone. Then it goes up again, and has been since 2009. Other firms do this to a degree, but Latham makes an art form out of it.

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IAFG
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Re: Really Late Offer from Latham, Now What?

Postby IAFG » Thu Sep 13, 2012 6:38 pm

My what short memories we have.

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thesealocust
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Re: Really Late Offer from Latham, Now What?

Postby thesealocust » Thu Sep 13, 2012 6:53 pm

Guys guys I have an idea! What if, when people take out mortgages, we bundle them all together and sell the income stream to investors who won't bother checking the underlying fundamentals? Basically take people's debt and then comodify it? We could create a whole new market!

If that takes off, I say we do the same thing for energy markets.

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Re: Really Late Offer from Latham, Now What?

Postby Anonymous User » Mon Oct 15, 2012 3:03 am

are you actually not allowed to renege, or is it just bad form? it seems that firms retract offers...why is it not equally acceptance for students to retract acceptances?

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rayiner
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Re: Really Late Offer from Latham, Now What?

Postby rayiner » Mon Oct 15, 2012 3:15 am

Anonymous User wrote:are you actually not allowed to renege, or is it just bad form? it seems that firms retract offers...why is it not equally acceptance for students to retract acceptances?


You're not allowed to renege on Skaddan to accept at Latham.

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Re: Really Late Offer from Latham, Now What?

Postby Anonymous User » Mon Oct 15, 2012 9:51 am

rayiner wrote:
Anonymous User wrote:are you actually not allowed to renege, or is it just bad form? it seems that firms retract offers...why is it not equally acceptance for students to retract acceptances?


You're not allowed to renege on Skaddan to accept at Latham.


There's nothing wrong with reneging. You should ABSOLUTELY do it if you like LW better.

Bottom line? Go with the firm you like the best.

bdubs
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Re: Really Late Offer from Latham, Now What?

Postby bdubs » Mon Oct 15, 2012 10:36 am

Anonymous User wrote:
rayiner wrote:
Anonymous User wrote:are you actually not allowed to renege, or is it just bad form? it seems that firms retract offers...why is it not equally acceptance for students to retract acceptances?


You're not allowed to renege on Skaddan to accept at Latham.


There's nothing wrong with reneging. You should ABSOLUTELY do it if you like LW better.

Bottom line? Go with the firm you like the best.


^^^ Person on Skadden waitlist desperately tries to create a spot for themself while throwing someone else under the bus.

If you summer at Skadden and LW offered you this year you should just go back to LW during 3L OCI period. They are probably going to lose a few prestige whores who want to move to places like CSM, S&C, and Skadden anyway.

PlessFightsFire
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Re: Really Late Offer from Latham, Now What?

Postby PlessFightsFire » Mon Oct 15, 2012 10:37 am

Pretty sure OP made a decision long ago considering timing of original post




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