Blindmelon wrote:hellojd wrote:I think all the skepticism/joking about Vault rankings is credited (especially given their dumb ranking methodology). But I think it's also important for people to remember that there is somewhat of a pecking order in practice areas regardless of Vault, and that perhaps for corporate law Vault very loosely tries to show what that pecking order is (although Chambers does a much better job). This isn't all that different from USNWR rankings of law schools, where the "t-14/t-6/HYS" would exist and generally be the hardest to get into and offer the best employment opportunities even if USNWR went away tomorrow.
Obviously, it's stupid to read too much into something like Skadden taking 3 over S&C, but is it that dumb to say that, all things equal, Skadden is viewed as more of a go-to for its sweet spot practice areas in its target markets (M&A in NYC, etc.) than someone much lower on the list (to pick a name at random, Alston & Bird)? Obviously, mileage varies and A&B may beat Skadden out for business in smaller target markets such as Atlanta, or maybe it is exceptionally strong in a couple of practice areas, but while we shouldn't put much stock in Vault (and I would put even less if I was in litigation, as places like W&C, Paul Weiss, etc. would be much higher on my list) I feel like we should also not go the opposite extreme and say v2 is the same all things equal as v100, it's just that it's not the "v" part that matters if that makes sense. I'm a 1L SA at a "v50" currently, and I would think that the complexity and sophistication of the deals that you probably work on at a v5 must be way higher than the stuff I've seen around the office.
Also, in regards to the Skadden hating ITT, you guys are ridiculous if you thing Skadden is viewed by actual corporations/CEOs as being less prestigious than, say, an S&C because their GPA requirement is lower (or because of their respective rankings on Vault). All of the places towards the top of this list are heavy-hitting firms with amazing client lists that excel in most of the practice areas they work on.
Maybe, but it pretends to be an overall prestige ranking. The reason why vault is terrible is because it pushes law students to make terrible decisions. A lot of students overlook great firms, and arguably much better firms, because they got an offer at a V10 or whatever. I know quite a few people who took "V20s" over a top firm in their desired practice area or location because of the prestige. So, you're going to a more prestigious firm for exit options to the place and firm you could have started working at to begin with.
Do people actually do this though? Anyone smart enough to get a V10 offer is going to be relatively savvy about it--and will likely have other V10 offers. The Vault rankings do a relatively good job of sorting the prestige hierarchy for New York. Cravath is more prestigious than STB in NY, generally speaking (blah blah private equity blah blah). But I do think law students aren't going to blindly take a V10 satellite office over a local giant. No one is choosing Kirkland's LA office over Munger or GDC.