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Will interning at a low V100 firm my 1L summer hurt my chances at interning at a higher rank firm in the future?

Yes. I would drop out now. How much do they pay? If a V10 finds out you made less than $4000 a week you're basically doomed.

Hahaha, OP has to be a troll, right? How could somebody in law school actually have that mindset?

If not a troll though, agree with the previous post, drop out while you can OP.

I know the above two people are trolling, but in all seriousness it should only be an issue with the V31 minus Paul Hastings and Ropes and Gray (they are notoriously holistic). I'm 98% confident that V32 through V88 will be no problem. V88-V100 is another story because they might feel overly prideful as peer firms to your low V100.

The STIGMA of a V100 1L SA will forever be a black stain on your resume.

This question is too vague for us to be helpful. By low V100, do you mean like V82 low or V99 low? The difference can have a significant impact on your upward mobility as a lawyer ITE. Obviously, a low V100 1L SA in any form is significantly less desirable than a V7 1L SA. Immediately start networking with V7 firms and stress that your comparatively disappointing place of summer employment does not adequately reflect your superior legal mind.

It appears that I've asked a question that many of you find foolish. I came to law school with no interest in going the corporate route so I'm still trying to get a handle of how this all works as I assess my summer internship options.