Reed Smith - looking for advice from a current or past SA

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crumpetsandtea
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Reed Smith - looking for advice from a current or past SA

Postby crumpetsandtea » Thu Jul 25, 2013 12:03 pm

Has anyone here summered for Reed Smith before? I had some questions that I would like to ask and no one is currently summering with them from my school. Please PM me if you don't want to out ITT.

Nynaeve
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Re: Reed Smith - looking for advice from a current or past SA

Postby Nynaeve » Thu Jul 25, 2013 12:39 pm

I didn't summer there, but I have a few friends who did, in their NYC office. They cut the incoming associate starting pay to $145k and have them working "limited" hours. Probably a place to be wary of.

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Re: Reed Smith - looking for advice from a current or past SA

Postby Anonymous User » Thu Aug 01, 2013 9:11 am

Nynaeve wrote:I didn't summer there, but I have a few friends who did, in their NYC office. They cut the incoming associate starting pay to $145k and have them working "limited" hours. Probably a place to be wary of.


Hearsay. Summered in the Chicago office. In 2010, they raised big market salaries from 130K to 145K, so unless your NYC friends are talking about the reduction from market salary in 2008, there has been no "cutting" of salaries as of late. No such thing as "limited" hours either. Why would they pay us a prorated associate salary for the summer and make us work "limited" hours? Makes no sense. Also, I believe you are bonus eligible at 1900 hours, so associates have told me that if you bill the same amount of hours as associates do in the market-paying firms, you end up making market salary anyway.

For 2013, Reed Smith increased the length of its summer program from 8 weeks to 10 weeks. The firm also gave the 1L SA a 12-week summer and paid for the 1L's two-week secondment at a client's corporate office. Associates have observed the firm's use of its SA budget in 2013 (which, relative to more prestigious firms, is still conservative and less extravagant) and commented that the purse strings have definitely loosened. There are more events this year, and no apparent restrictions on reimbursements for lunches/cabs, etc. for SAs. The firm reimburses all lunches as long as you eat with one other SA (and obviously same goes if you eat with an atty). Apparently this wasn't the case in previous years. Just little additional perks that show the firm is definitely NOT struggling.

Starting last year, first-year associates start in September instead of January. Firm had a record year in revenues despite the "new normal" business model of fixed-fee and alternative-fee arrangements. Recently opened new offices in Houston and Singapore, and the firm is seeking more opportunities in other continents. Greg Jordan (global managing partner) appears to be responsible with the firm's finances and extremely transparent. Everything seems to be in the upward trajectory.

Let me know if you have more question and I can PM you.
Last edited by Anonymous User on Thu Aug 01, 2013 9:44 am, edited 6 times in total.

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Re: Reed Smith - looking for advice from a current or past SA

Postby Anonymous User » Thu Aug 01, 2013 9:16 am

crumpetsandtea wrote:Has anyone here summered for Reed Smith before? I had some questions that I would like to ask and no one is currently summering with them from my school. Please PM me if you don't want to out ITT.


Just a FYI for Northwestern students: 5 out of 8 SAs in 2013 were Northwestern.

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crumpetsandtea
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Re: Reed Smith - looking for advice from a current or past SA

Postby crumpetsandtea » Thu Aug 01, 2013 11:13 am

Anonymous User wrote:
crumpetsandtea wrote:Has anyone here summered for Reed Smith before? I had some questions that I would like to ask and no one is currently summering with them from my school. Please PM me if you don't want to out ITT.


Just a FYI for Northwestern students: 5 out of 8 SAs in 2013 were Northwestern.

Well then they should update SBA's "list of people with SAs this summer" with their info so I know to contact them!!!! :P And thank you for the info you posted above, very good to know.

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Lacepiece23
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Re: Reed Smith - looking for advice from a current or past SA

Postby Lacepiece23 » Thu Aug 01, 2013 3:12 pm

Anonymous User wrote:
Nynaeve wrote:I didn't summer there, but I have a few friends who did, in their NYC office. They cut the incoming associate starting pay to $145k and have them working "limited" hours. Probably a place to be wary of.


Hearsay. Summered in the Chicago office. In 2010, they raised big market salaries from 130K to 145K, so unless your NYC friends are talking about the reduction from market salary in 2008, there has been no "cutting" of salaries as of late. No such thing as "limited" hours either. Why would they pay us a prorated associate salary for the summer and make us work "limited" hours? Makes no sense. Also, I believe you are bonus eligible at 1900 hours, so associates have told me that if you bill the same amount of hours as associates do in the market-paying firms, you end up making market salary anyway.

For 2013, Reed Smith increased the length of its summer program from 8 weeks to 10 weeks. The firm also gave the 1L SA a 12-week summer and paid for the 1L's two-week secondment at a client's corporate office. Associates have observed the firm's use of its SA budget in 2013 (which, relative to more prestigious firms, is still conservative and less extravagant) and commented that the purse strings have definitely loosened. There are more events this year, and no apparent restrictions on reimbursements for lunches/cabs, etc. for SAs. The firm reimburses all lunches as long as you eat with one other SA (and obviously same goes if you eat with an atty). Apparently this wasn't the case in previous years. Just little additional perks that show the firm is definitely NOT struggling.

Starting last year, first-year associates start in September instead of January. Firm had a record year in revenues despite the "new normal" business model of fixed-fee and alternative-fee arrangements. Recently opened new offices in Houston and Singapore, and the firm is seeking more opportunities in other continents. Greg Jordan (global managing partner) appears to be responsible with the firm's finances and extremely transparent. Everything seems to be in the upward trajectory.

Let me know if you have more question and I can PM you.


PM me please was offered a summer posistion in their Pittsburgh office.

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Re: Reed Smith - looking for advice from a current or past SA

Postby Anonymous User » Tue Sep 03, 2013 11:32 am

Apologies for hijacking, but didn't want to start a new thread. Has anyone heard back from Reed Smith NY post-CB yet?

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Re: Reed Smith - looking for advice from a current or past SA

Postby Anonymous User » Tue Sep 03, 2013 11:49 am

Anyone here work in the LA, Century City, or SF offices this past summer? How was it? I ask because one of my friends is choosing between firms right now.

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Re: Reed Smith - looking for advice from a current or past SA

Postby Anonymous User » Tue Mar 31, 2015 2:24 pm

Was looking at the NALP forms for this year. Looks like Reed Smith's Chicago and San Francisco offices are finally paying market (160K). Anyone know anything about the increase? Just glitch they have to still correct on the form or are they paying market for real?

Trivial, I know. But curious.

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Lacepiece23
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Re: Reed Smith - looking for advice from a current or past SA

Postby Lacepiece23 » Tue Mar 31, 2015 2:32 pm

Anonymous User wrote:Was looking at the NALP forms for this year. Looks like Reed Smith's Chicago and San Francisco offices are finally paying market (160K). Anyone know anything about the increase? Just glitch they have to still correct on the form or are they paying market for real?

Trivial, I know. But curious.


They are paying market for real, and in NYC.

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Re: Reed Smith - looking for advice from a current or past SA

Postby Anonymous User » Wed Apr 01, 2015 2:15 pm

Lacepiece23 wrote:
Anonymous User wrote:Was looking at the NALP forms for this year. Looks like Reed Smith's Chicago and San Francisco offices are finally paying market (160K). Anyone know anything about the increase? Just glitch they have to still correct on the form or are they paying market for real?

Trivial, I know. But curious.


They are paying market for real, and in NYC.

Whaaaat?! Hope it applies to this year's summer associates too. Maybe, please!

JAYINSD
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Re: Reed Smith - looking for advice from a current or past SA

Postby JAYINSD » Wed Apr 01, 2015 2:20 pm

Anonymous User wrote:
Lacepiece23 wrote:
Anonymous User wrote:Was looking at the NALP forms for this year. Looks like Reed Smith's Chicago and San Francisco offices are finally paying market (160K). Anyone know anything about the increase? Just glitch they have to still correct on the form or are they paying market for real?

Trivial, I know. But curious.


They are paying market for real, and in NYC.

Whaaaat?! Hope it applies to this year's summer associates too. Maybe, please!


Shouldn't you already receive the offer letter with stated income?

Anonymous User
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Re: Reed Smith - looking for advice from a current or past SA

Postby Anonymous User » Wed Apr 01, 2015 2:29 pm

JAYINSD wrote:
Anonymous User wrote:
Lacepiece23 wrote:
Anonymous User wrote:Was looking at the NALP forms for this year. Looks like Reed Smith's Chicago and San Francisco offices are finally paying market (160K). Anyone know anything about the increase? Just glitch they have to still correct on the form or are they paying market for real?

Trivial, I know. But curious.


They are paying market for real, and in NYC.

Whaaaat?! Hope it applies to this year's summer associates too. Maybe, please!


Shouldn't you already receive the offer letter with stated income?

The offer letter is based off 145K they were at last year, just expressing the hope they adjust it. Doubt it, but one can dream.




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