Delaware Exit Options

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Anonymous User
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Delaware Exit Options

Postby Anonymous User » Sun Sep 22, 2013 9:43 am

Anyone know where associates from either the Big 4 (RLF, MNAT, YCST, PAC) or Skadden go if they don't make partner at their firm? Do they stay in Wilmington, or are there out-of-state exit options? How much inter-firm hiring occurs? I'm considering offers from multiple of these firms and any info that could be provided would be incredibly helpful. Thanks!

sheisrisen
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Re: Delaware Exit Options

Postby sheisrisen » Sun Sep 22, 2013 9:56 am

Anonymous User wrote:Anyone know where associates from either the Big 4 (RLF, MNAT, YCST, PAC) or Skadden go if they don't make partner at their firm? Do they stay in Wilmington, or are there out-of-state exit options? How much inter-firm hiring occurs? I'm considering offers from multiple of these firms and any info that could be provided would be incredibly helpful. Thanks!


Nearly all stay in Wilmington. Some get an offer for partnership at another firm (see Anne Gaza from just this summer, although I heard this is rare). Some leave to start their own firm. Some stay at the firm despite not making partner.

I haven't heard of many lawyers who started in Delaware and left for another market. Most lateraling goes in the other direction.

Delaware also has reciprocity issues, meaning you'd have to take the bar exam again if you go to another state no matter how long you've been practicing in Delaware.

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Re: Delaware Exit Options

Postby Anonymous User » Sun Sep 22, 2013 9:59 am

Exit options best at MNAT. MNAT is associated with higher educational prestige which carries forward in the more prestigious markets such as NYC.

edit: although other poster is right. Not a lot of lateraling out at any DE firm. To the extent there is any, it happens from MNAT. But if you're not ready to stay in DE for a career, think twice about DE.

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Re: Delaware Exit Options

Postby Anonymous User » Sun Sep 22, 2013 4:34 pm

Anonymous User wrote:Exit options best at MNAT. MNAT is associated with higher educational prestige which carries forward in the more prestigious markets such as NYC.

edit: although other poster is right. Not a lot of lateraling out at any DE firm. To the extent there is any, it happens from MNAT. But if you're not ready to stay in DE for a career, think twice about DE.


OP here:

How would you say MNAT exit options compare to those from Skadden? Is Skadden looked at as more of an outsider in the Wilmington scene, making it more difficult to lateral to more "local" firms? Is it easier to lateral out of the state if you are at Skadden compared to MNAT? (in case you couldnt tell, I'm considering both MNAT, Skadden, and another Delaware firm).

Thanks for all the quick replies, btw. Very helpful!

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Re: Delaware Exit Options

Postby Anonymous User » Sun Sep 22, 2013 4:45 pm

This thread is slightly baffling. The majority of people I know from one big 4 lateralled outside of Delaware.

I also don't know where TLS got the idea of MNAT exceptionalism. I would guess from MNAT recruiters.

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Re: Delaware Exit Options

Postby Anonymous User » Sun Sep 22, 2013 4:53 pm

Anonymous User wrote:
Anonymous User wrote:Exit options best at MNAT. MNAT is associated with higher educational prestige which carries forward in the more prestigious markets such as NYC.

edit: although other poster is right. Not a lot of lateraling out at any DE firm. To the extent there is any, it happens from MNAT. But if you're not ready to stay in DE for a career, think twice about DE.


OP here:

How would you say MNAT exit options compare to those from Skadden? Is Skadden looked at as more of an outsider in the Wilmington scene, making it more difficult to lateral to more "local" firms? Is it easier to lateral out of the state if you are at Skadden compared to MNAT? (in case you couldnt tell, I'm considering both MNAT, Skadden, and another Delaware firm).

Thanks for all the quick replies, btw. Very helpful!


Skadden DE is a very good option. It's a V-5 firm that is the only firm in DE starting at 160 or anywhere close.

It sounds like you are looking to keep a lateral-out option open. True "Delaware" firms like MNAT are not good lateral-out plays (although if you didn't have Skadden to chose from, MNAT would be the best), as the other poster has explained. Skadden on a resume will open doors.

Anonymous User
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Re: Delaware Exit Options

Postby Anonymous User » Sun Sep 22, 2013 4:55 pm

Anonymous User wrote:
Anonymous User wrote:Exit options best at MNAT. MNAT is associated with higher educational prestige which carries forward in the more prestigious markets such as NYC.

edit: although other poster is right. Not a lot of lateraling out at any DE firm. To the extent there is any, it happens from MNAT. But if you're not ready to stay in DE for a career, think twice about DE.


OP here:

How would you say MNAT exit options compare to those from Skadden? Is Skadden looked at as more of an outsider in the Wilmington scene, making it more difficult to lateral to more "local" firms? Is it easier to lateral out of the state if you are at Skadden compared to MNAT? (in case you couldnt tell, I'm considering both MNAT, Skadden, and another Delaware firm).

Thanks for all the quick replies, btw. Very helpful!

Skadden is one of the most easy-going firms w/r/t inter-office transfers. And of course the name is going to carry you more easily. The problem with leaving Delaware often has more to do with getting experience consistent with other markets than firm branding. If you spend 3 years writing Delaware opinions or working on Delaware alternative entities, you can't expect to waltz into an M&A group.

Anonymous User
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Re: Delaware Exit Options

Postby Anonymous User » Sun Sep 22, 2013 4:57 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Exit options best at MNAT. MNAT is associated with higher educational prestige which carries forward in the more prestigious markets such as NYC.

edit: although other poster is right. Not a lot of lateraling out at any DE firm. To the extent there is any, it happens from MNAT. But if you're not ready to stay in DE for a career, think twice about DE.


OP here:

How would you say MNAT exit options compare to those from Skadden? Is Skadden looked at as more of an outsider in the Wilmington scene, making it more difficult to lateral to more "local" firms? Is it easier to lateral out of the state if you are at Skadden compared to MNAT? (in case you couldnt tell, I'm considering both MNAT, Skadden, and another Delaware firm).

Thanks for all the quick replies, btw. Very helpful!

Skadden is one of the most easy-going firms w/r/t inter-office transfers. And of course the name is going to carry you more easily. The problem with leaving Delaware often has more to do with getting experience consistent with other markets than firm branding. If you spend 3 years writing Delaware opinions or working on Delaware alternative entities, you can't expect to waltz into an M&A group.

Anonymous User
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Re: Delaware Exit Options

Postby Anonymous User » Sun Sep 22, 2013 6:07 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Exit options best at MNAT. MNAT is associated with higher educational prestige which carries forward in the more prestigious markets such as NYC.

edit: although other poster is right. Not a lot of lateraling out at any DE firm. To the extent there is any, it happens from MNAT. But if you're not ready to stay in DE for a career, think twice about DE.


OP here:

How would you say MNAT exit options compare to those from Skadden? Is Skadden looked at as more of an outsider in the Wilmington scene, making it more difficult to lateral to more "local" firms? Is it easier to lateral out of the state if you are at Skadden compared to MNAT? (in case you couldnt tell, I'm considering both MNAT, Skadden, and another Delaware firm).

Thanks for all the quick replies, btw. Very helpful!


Skadden DE is a very good option. It's a V-5 firm that is the only firm in DE starting at 160 or anywhere close.

It sounds like you are looking to keep a lateral-out option open. True "Delaware" firms like MNAT are not good lateral-out plays (although if you didn't have Skadden to chose from, MNAT would be the best), as the other poster has explained. Skadden on a resume will open doors.


Even compared to MNAT?

Anonymous User
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Re: Delaware Exit Options

Postby Anonymous User » Sun Sep 22, 2013 8:34 pm

[/quote]
Skadden is one of the most easy-going firms w/r/t inter-office transfers. And of course the name is going to carry you more easily. The problem with leaving Delaware often has more to do with getting experience consistent with other markets than firm branding. If you spend 3 years writing Delaware opinions or working on Delaware alternative entities, you can't expect to waltz into an M&A group.[/quote]

By that same token, knowing that Skadden has more of a "traditional" transactional practice than the Big4 do, would working for Skadden hurt chances to lateral to one of those Big4 firms? Would they take a fellow Big4 lateral over Skadden?

Anonymous User
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Re: Delaware Exit Options

Postby Anonymous User » Sun Sep 22, 2013 8:35 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:Exit options best at MNAT. MNAT is associated with higher educational prestige which carries forward in the more prestigious markets such as NYC.

edit: although other poster is right. Not a lot of lateraling out at any DE firm. To the extent there is any, it happens from MNAT. But if you're not ready to stay in DE for a career, think twice about DE.


OP here:

How would you say MNAT exit options compare to those from Skadden? Is Skadden looked at as more of an outsider in the Wilmington scene, making it more difficult to lateral to more "local" firms? Is it easier to lateral out of the state if you are at Skadden compared to MNAT? (in case you couldnt tell, I'm considering both MNAT, Skadden, and another Delaware firm).

Thanks for all the quick replies, btw. Very helpful!


Skadden DE is a very good option. It's a V-5 firm that is the only firm in DE starting at 160 or anywhere close.

It sounds like you are looking to keep a lateral-out option open. True "Delaware" firms like MNAT are not good lateral-out plays (although if you didn't have Skadden to chose from, MNAT would be the best), as the other poster has explained. Skadden on a resume will open doors.


Even compared to MNAT?


Skadden's exit options outside of DE seem to be uch better based on conversations I have had with associates at a number of firms

Anonymous User
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Re: Delaware Exit Options

Postby Anonymous User » Sun Sep 22, 2013 8:38 pm

Anonymous User wrote:
Anonymous User wrote:Skadden is one of the most easy-going firms w/r/t inter-office transfers. And of course the name is going to carry you more easily. The problem with leaving Delaware often has more to do with getting experience consistent with other markets than firm branding. If you spend 3 years writing Delaware opinions or working on Delaware alternative entities, you can't expect to waltz into an M&A group.


By that same token, knowing that Skadden has more of a "traditional" transactional practice than the Big4 do, would working for Skadden hurt chances to lateral to one of those Big4 firms? Would they take a fellow Big4 lateral over Skadden?

I am the above-quoted anon. Lateralling depends heavily on what's on your résumé. If you did traditional transactional stuff, you're going to have a hard time at most of the big 4. Not sure about other V100s with DE offices though.

Anonymous User
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Re: Delaware Exit Options

Postby Anonymous User » Mon Sep 23, 2013 1:13 am

Anonymous User wrote:This thread is slightly baffling. The majority of people I know from one big 4 lateralled outside of Delaware.

I also don't know where TLS got the idea of MNAT exceptionalism. I would guess from MNAT recruiters.


Can you give some details on this? Which practice groups were they in and what kind of markets and positions did they go to? Sample size?




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