oobiedoobie wrote:Anonymous User wrote:Former BigTex firm previously. Taking questions on differences between bigTx and Kirkland/Latham, state of TX market, etc.
What would you say are the main differences between the Big3 and K&E/Latham and why did you make the switch?
OP here. Good question. A lot of different ways to tackle this question, but I think you can boil it down to the following variables: professional goals and practice areas. If you want corporate in Houston now or the foreseeable future, and have the options, it should be between BB/VE/KE/LW. If you want lit, I think it depends on what kind of lit you want to practice and NRF gets added to the mix, potentially bracewell depending on focus, and of course the elite boutiques.
I'll stick to the corporate side because that is what I know best. In reality, hard to go wrong at any of the four I mentioned. All will give you excellent in-house opportunities in Texas. Latham and Kirkland will give you excellent in-house opportunities just about anywhere. By way of example, we have an alumni database where alums post in-house openings. Currently 100+ in the system, most from KE alums. Blue chip companies. If the goal is making partner (non-equity), then Kirkland, Bracewell/AK (and the like) are best bets. If the goal is to make equity partner somewhere, stick with Bracewell/AK and the like for as long as possible and hope the partner roulette dice lands in your favor. NSP (non-share partner) is a very likely possibility and happens after year 6 for strong performers at KE. Bracewell/AK and similar also make a fair amount of non-equity partners. If you desire to maximize your options outside of Texas, while still being competitive for best TX in-house positions, then Latham/KE is your best bet in Houston.
Culture is also a big difference, at least at KE vs the big3. We are a very young office, oldest partner in early 40's. That means everyone is working hard and it also means we have a lot of fun (as much as this job can be fun, a stretch) during our day-to-day. VE has a strong/good culture but arguably more hierarchical with a stronger "institutional" approach. Have not heard good things about BB or NRF w/r/t to culture.
Finally, I think practice areas is another important variable. If I wanted strictly PE in Houston, it would be KE/Willkie>VE>>>>STB and others. Finance would probably be Latham/Bracewell/KE >> VE >>>> others. Capital markets is rough everywhere and would choose based on overall strength of the firm. Corporate would be KE/Latham/VE > BB >> AK > Bracewell >> the rest. This is meant to be a general guideline and don't pretend that this is a sacrosanct ranking, one can make legitimate arguments for changing this ordering at the margins.