DE Exit Options

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DE Exit Options

Postby Anonymous User » Fri Sep 14, 2012 12:43 pm

I have an offer from one of the Big 4 DE firms and some more CBs outstanding. Can anyone speak to the exit options coming out of there? None of the DE firms (except Skadden) are Vault firms, but my perception is that DE is highly regarded for a secondary market, considering the reputation of the Chancery Court and the caliber of the clients there.

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Re: DE Exit Options

Postby Anonymous User » Fri Sep 14, 2012 1:10 pm

Great corporate work but exit options are not NY-caliber. I was considering DE also bc of QoL, ability to do sophisticated corp. work, among other things.

Problem is DE firms get asked to dissect a tiny piece of the DGCL and don't get a ton of exposure to the broader transaction or litigation that brought them into it in the first place. Job security is pretty solid, because DE firms will always have to be used. Occasionally, even the good DE firms get used as high price drop boxes since you just have to have local counsel by law. Most of the times, the DE firm (assuming its a good one, MNAT/YCST, in particular), will actually get some substantive work on the assignment.

That being said, most in-house jobs aren't looking for people who have specialized knowledge in DGCL 251 or something, but generally have more broad-based knowledge; hence why general M&A associates have typically the best exit options.

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Re: DE Exit Options

Postby Anonymous User » Fri Sep 14, 2012 1:19 pm

Anonymous User wrote:Great corporate work but exit options are not NY-caliber. I was considering DE also bc of QoL, ability to do sophisticated corp. work, among other things.

Problem is DE firms get asked to dissect a tiny piece of the DGCL and don't get a ton of exposure to the broader transaction or litigation that brought them into it in the first place. Job security is pretty solid, because DE firms will always have to be used. Occasionally, even the good DE firms get used as high price drop boxes since you just have to have local counsel by law. Most of the times, the DE firm (assuming its a good one, MNAT/YCST, in particular), will actually get some substantive work on the assignment.

That being said, most in-house jobs aren't looking for people who have specialized knowledge in DGCL 251 or something, but generally have more broad-based knowledge; hence why general M&A associates have typically the best exit options.


Thanks for this. All DE firms have tried to sell me on the sophistication of their work and the fact that I will get substantive assignments earlier on, although I didn't consider the narrowness of the legal issues they look at. Is there any separation b/t the Big 4 in terms of exit options do you think?

I only have one offer right now, so am not in a position to be choosy. I'm thrilled with DE b/c of the CoL and no income tax and if it's all I get I'll be happy. I'm just wondering how hard I should bust my ass this year to potentially give myself a shot at 3L OCI.




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