Possible to latter to a better-ranked firm that you turned down at OCI?

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Possible to latter to a better-ranked firm that you turned down at OCI?

Postby Anonymous User » Fri Jun 10, 2016 5:13 pm

A couple years ago at OCI, I turned down offers from V10, V20, V30 range firms in order to go to a V80 firm for very specific reasons. As of today, the more prestigious firms that I turned down have all raised their salaries, but mine hasn't. I am assuming the salary difference will not change.

I know normally one can't lateral from V80 to V10, and the whole reason for starting at a V10 is that you can easily lateral down. But is there an exception to this if you already got offers from the more prestigious firms during OCI?

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Re: Possible to latter to a better-ranked firm that you turned down at OCI?

Postby bern victim » Fri Jun 10, 2016 5:16 pm

it's a pretty simple formula. basically, the default is you can lateral up 5 Vault ranks. if you got a callback at a higher-ranked firm, that's worth up to 10 Vault Points so you can lateral up 15 Vault ranks. if you got an offer after callback at a higher-ranked firm, that's worth up to 25 Vault Points so you can lateral up 30 Vault ranks. finally, if you actually summered at a higher-ranked firm, that's worth 50 Vault Points so you can lateral up 55 Vault ranks. hope that helps.

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Re: Possible to latter to a better-ranked firm that you turned down at OCI?

Postby Anonymous User » Fri Jun 10, 2016 5:20 pm

bern victim wrote:it's a pretty simple formula. basically, the default is you can lateral up 5 Vault ranks. if you got a callback at a higher-ranked firm, that's worth up to 10 Vault Points so you can lateral up 15 Vault ranks. if you got an offer after callback at a higher-ranked firm, that's worth up to 25 Vault Points so you can lateral up 30 Vault ranks. finally, if you actually summered at a higher-ranked firm, that's worth 50 Vault Points so you can lateral up 55 Vault ranks. hope that helps.


Thanks for the facetious yet funny response. I was all aboard the "Vault rankings are stupid" train until this week has provided evidence that a better Vault rank = higher salary.

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rpupkin

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Re: Possible to latter to a better-ranked firm that you turned down at OCI?

Postby rpupkin » Fri Jun 10, 2016 5:21 pm

bern victim wrote:it's a pretty simple formula. basically, the default is you can lateral up 5 Vault ranks. if you got a callback at a higher-ranked firm, that's worth up to 10 Vault Points so you can lateral up 15 Vault ranks. if you got an offer after callback at a higher-ranked firm, that's worth up to 25 Vault Points so you can lateral up 30 Vault ranks. finally, if you actually summered at a higher-ranked firm, that's worth 50 Vault Points so you can lateral up 55 Vault ranks. hope that helps.

Credited for primary markets. That's why you never want to go to a furn as low as V80, as OP has done. Even if OP runs the table on all of the above, the highest he could achieve at this point is V25.

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Re: Possible to latter to a better-ranked firm that you turned down at OCI?

Postby rpupkin » Fri Jun 10, 2016 5:23 pm

Anonymous User wrote:
bern victim wrote:it's a pretty simple formula. basically, the default is you can lateral up 5 Vault ranks. if you got a callback at a higher-ranked firm, that's worth up to 10 Vault Points so you can lateral up 15 Vault ranks. if you got an offer after callback at a higher-ranked firm, that's worth up to 25 Vault Points so you can lateral up 30 Vault ranks. finally, if you actually summered at a higher-ranked firm, that's worth 50 Vault Points so you can lateral up 55 Vault ranks. hope that helps.


Thanks for the facetious yet funny response. I was all aboard the "Vault rankings are stupid" train until this week has provided evidence that a better Vault rank = higher salary.

Indeed. That's why those Fenwick associates wish they had had the grades/prestige for Covington.

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Re: Possible to latter to a better-ranked firm that you turned down at OCI?

Postby Anonymous User » Fri Jun 10, 2016 5:38 pm

rpupkin wrote:
Anonymous User wrote:
bern victim wrote:it's a pretty simple formula. basically, the default is you can lateral up 5 Vault ranks. if you got a callback at a higher-ranked firm, that's worth up to 10 Vault Points so you can lateral up 15 Vault ranks. if you got an offer after callback at a higher-ranked firm, that's worth up to 25 Vault Points so you can lateral up 30 Vault ranks. finally, if you actually summered at a higher-ranked firm, that's worth 50 Vault Points so you can lateral up 55 Vault ranks. hope that helps.


Thanks for the facetious yet funny response. I was all aboard the "Vault rankings are stupid" train until this week has provided evidence that a better Vault rank = higher salary.

Indeed. That's why those Fenwick associates wish they had had the grades/prestige for Covington.


As a Fenwick associate, I love this comment so much. SO MUCH.

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Re: Possible to latter to a better-ranked firm that you turned down at OCI?

Postby jbagelboy » Fri Jun 10, 2016 5:58 pm

Anonymous User wrote:
bern victim wrote:it's a pretty simple formula. basically, the default is you can lateral up 5 Vault ranks. if you got a callback at a higher-ranked firm, that's worth up to 10 Vault Points so you can lateral up 15 Vault ranks. if you got an offer after callback at a higher-ranked firm, that's worth up to 25 Vault Points so you can lateral up 30 Vault ranks. finally, if you actually summered at a higher-ranked firm, that's worth 50 Vault Points so you can lateral up 55 Vault ranks. hope that helps.


Thanks for the facetious yet funny response. I was all aboard the "Vault rankings are stupid" train until this week has provided evidence that a better Vault rank = higher salary.


Meh. It hasn't evidenced shit. Vault is a new york, corporate centric survey. The new york, corporate based firms always move first every time salaries or bonuses change. So it gives this arbitrary appearance of importance to vault, except not even; Milbank was the first NY firm to match, and that's not even "V whatever" (i have no idea where milbank is).

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LaLiLuLeLo

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Re: Possible to latter to a better-ranked firm that you turned down at OCI?

Postby LaLiLuLeLo » Fri Jun 10, 2016 6:25 pm

Milbank is V40 but they're very insistent on maintaining their NYC white shoe image.

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Re: Possible to latter to a better-ranked firm that you turned down at OCI?

Postby Anonymous User » Fri Jun 10, 2016 7:29 pm

I met a dude that went from Snell and Wilmer to GDC. So it's possible. Only way to find out is to apply. On the other hand, if you had a god reason to pick the v80 in the first place, is that reason really overturned by a $20k bump? Maybe it's because I always think this year will be my last in Biglaw either way, but I'd need more than $20k to get me to move from one Biglaw firm to another.

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Re: Possible to latter to a better-ranked firm that you turned down at OCI?

Postby Anonymous User » Fri Jun 10, 2016 11:23 pm

Anonymous User wrote:I met a dude that went from Snell and Wilmer to GDC. So it's possible. Only way to find out is to apply. On the other hand, if you had a god reason to pick the v80 in the first place, is that reason really overturned by a $20k bump? Maybe it's because I always think this year will be my last in Biglaw either way, but I'd need more than $20k to get me to move from one Biglaw firm to another.


This this this. I went V5 to a "less than" V50 for many many reasons and would never go back, even if my firm didn't bump up.

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Re: Possible to latter to a better-ranked firm that you turned down at OCI?

Postby Avian » Fri Jun 10, 2016 11:27 pm

The people I know who have made big moves up the vault rankings (V100 to V20) have generally been in smaller groups where there was a need at the firm they moved to, not general lit or big corporate departments.

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Re: Possible to latter to a better-ranked firm that you turned down at OCI?

Postby Anonymous User » Sat Jun 11, 2016 12:14 am

Anonymous User wrote:
Anonymous User wrote:I met a dude that went from Snell and Wilmer to GDC. So it's possible. Only way to find out is to apply. On the other hand, if you had a god reason to pick the v80 in the first place, is that reason really overturned by a $20k bump? Maybe it's because I always think this year will be my last in Biglaw either way, but I'd need more than $20k to get me to move from one Biglaw firm to another.


This this this. I went V5 to a "less than" V50 for many many reasons and would never go back, even if my firm didn't bump up.


It's not just $20k. Over the first four years of an associate's career the difference in salary scales is $90k. If the associate continues in biglaw then it's an even bigger disparity.

When you're trying to save for a down payment on a home or pay off student loans this really adds up.



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