Lateral vs. Starting

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Anonymous User
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Lateral vs. Starting

Postby Anonymous User » Tue Sep 10, 2013 7:37 pm

I understand that a big advantage of "prestigious" firms in NYC (or anywhere, I guess) is the always-available option to lateral from that firm to another market/less prestigious firm. Why don't more people with v5 options, who eventually want to lateral down, just start at the less prestigious firm?

lolwat
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Re: Lateral vs. Starting

Postby lolwat » Tue Sep 10, 2013 7:39 pm

It's a pretty obvious choice when you can go from X -> Y (and a lot of other things, like A, B, C, and D) but you can't go from Y -> X (and you probably also have a harder time going to any of A, B, C, D).

Plus, the pay is typically better for the few years you spend in biglaw.

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bk1
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Re: Lateral vs. Starting

Postby bk1 » Tue Sep 10, 2013 7:44 pm

Lots of reasons. To name a few:

  • Easier to lateral out of NYC top firms than into them, also sometimes people aren't sure where they want to go later (as noted above).
  • Job security (higher offer rates from NYC top firms).
  • Type of work experience - ability to develop skills that aren't as easy to develop outside of NYC top firms (e.g. megadeal M&A).
  • Possibly easier to get a NYC V5 than a similarly comparable firm in a different (i.e. even if they can get offers in other markets they can't get as high quality firms in those other markets).

Anonymous User
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Re: Lateral vs. Starting

Postby Anonymous User » Sun Sep 22, 2013 6:42 pm

bk1 wrote:Lots of reasons. To name a few:

  • Easier to lateral out of NYC top firms than into them, also sometimes people aren't sure where they want to go later (as noted above).
  • Job security (higher offer rates from NYC top firms).
  • Type of work experience - ability to develop skills that aren't as easy to develop outside of NYC top firms (e.g. megadeal M&A).
  • Possibly easier to get a NYC V5 than a similarly comparable firm in a different (i.e. even if they can get offers in other markets they can't get as high quality firms in those other markets).


Is it better to lateral to a secondary market or to start there if you want to make partner (especially at firms with a partner:associate ratio of 2:1 or greater)?

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thesealocust
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Re: Lateral vs. Starting

Postby thesealocust » Sun Sep 22, 2013 6:54 pm

As to OP's question: One big reason is that there's no guarantee a non-V5ish firm will mean a better quality of life. If the "lateral down" is to another market, then it's a difficult and non-obvious choice. If the "lateral down" is to another firm in the same market/practice, that's... pretty much never anybody's plan A, it's just an option that might be more available starting at "the top" than elsewhere.

Anonymous User wrote:Is it better to lateral to a secondary market or to start there if you want to make partner (especially at firms with a partner:associate ratio of 2:1 or greater)?


Nobody knows.

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IAFG
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Re: Lateral vs. Starting

Postby IAFG » Sun Sep 22, 2013 6:59 pm

If you want to make partner, just position yourself in a practice area that will be growing in 9 years and start cultivating a book of business. NBD




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