KidStuddi wrote:ResIpsa21 wrote:Look, you have to understand preftige for what it is. More general preftige means greater opportunities in a broad range of practice areas and employers. Preftige keeps more doors open, but if you already know which door you want to go through, it doesn't matter all that much. As an example, if you want to do energy litigation, a Big Three TX firm is way better than a V10 NY firm. If you want to do hedge funds, hit up SRZ. If you don't really have a clue what you want to do, then take the most preftigious option to keep as many doors open as you can until you figure it out.
The Vault rankings are well-correlated with breadth of exit opportunities, but not the likelihood of any particular exit opportunity. As far as actual substantive experience at the firm, I'd say they're more than worthless. The very basis of the Vault ranking is the perception of associates who haven't actually worked for the firms they're ranking. It's also comical to assume that someone's experience will be uniform across a firm's offices or practice groups.
You've got the first part of this right, I think, but I question the second part. Yeah, sure, Vault rankings are done by attorneys ranking places they've never worked at, but lateral hiring is also done by attorneys judging the training / experience gained at a firm they've never worked at. When our boy learntolift is trying to lateral in 3 years, do you really think firms are just going to take his word for it that he got world-beating training and exposure to the very best hedge fund work in the whole entire world? Or are they going to make a decision based on their preconceived perceptions of his firm's brand? I'm betting on the latter. Hiring committees continue to demonstrate year after year that they give sincere weight to U.S. News Rankings despite everyone knowing the methodology is flawed; I kind of doubt that they suddenly become bastions of critical thinking when hiring laterals.
But the lateral hiring is done by attorneys who have some meaningful sense of how good a firm is in an actual practice area, know the partners' reputations and quite possibly know them personally, etc. Vault is done by associates who rank based on how hard it was for them to get a job somewhere.