Schulte, Fried Frank, or Shearman?

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Schulte, Fried Frank, or Shearman?

Postby Anonymous User » Sat Aug 27, 2016 4:28 pm

Hi, I am lucky to have received offers from all three, and I am having a hard time deciding among them.

Schulte: I really loved people there, both during interviews and outside (receptions, dinners, etc.). My concern is that they are really known for their fund practice. I am currently very interested in M&A work because I worked on some matters 1L summer. I have no idea what day-to-day IM work is like (so I might like it or might not). Schulte does some M&A (NY-highly regarded band 2 according to Chambers Partner), but mostly private M&A related to their fund clients. If I'm going to do M&A, I would prefer having exposure to both public and private M&A. Also what's the mid-level associate satisfaction survey about? Is it an indication of long-term career prospect at the firm? If I start with Schulte, I would really like to stick around as long as possible. AmLaw ranking suggests Schulte is pretty healthy financially.

Fried Frank: again awesome people. They seem pretty good with M&A, doing both public and private transactions. Financially stable. Other areas are pretty strong as well.

Shearman: I loved people I met there, though I would prefer Fried Frank's office ( and Schulte is going to renovate). Very international, which is a big thing for me (I speak Asian languages and would like to work on cross-border deals). Well-regarded M&A practice, both public and private. Feels more "prestigious" than the other two? One big concern for me is that its financials do not seem to be as strong as the other two. People talk about it being in decline in older posts. Is that still the case? I might want to stay with the firm or lateral (potentially abroad, so training and experience is important).

I guess my biggest questions are: should Shearman's less stellar financials (or the "decline") be a material concern in choosing firms? Would people think I am crazy to forfeit shearman for Schulte or Fried Frank?

Thanks in advance.

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Re: Schulte, Fried Frank, or Shearman?

Postby Anonymous User » Sat Aug 27, 2016 4:35 pm

Sorry to hijack the thread, but mind sharing when you had your callback with Shearman and when you got the offer?

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Re: Schulte, Fried Frank, or Shearman?

Postby Anonymous User » Sat Aug 27, 2016 4:37 pm

schulte is really good at one thing and one thing only. IM with hedge funds. have you seen the news lately? state pensions are pulling out of hedge funds. with a firm that is like 90% focused on that business alone, i would be scared about taking a job there. even without the current trend in hedge funds, i dont want to be at a firm with such a narrow focus unless you really had some undying passion for IM hedge fund work.

between fried frank and shearman, id probably go with fried frank. m&a is a wash between the two. and fried frank has other strengths as well. obviously real estate but it's also really strong in IM (and not just in hedge funds but also PE funds). culturally, i heard fried frank is terrible but it's purely anecdotal. fried frank has better PPP/RPL than shearman, and id go with the more stable firm than shearman.

arock111

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Re: Schulte, Fried Frank, or Shearman?

Postby arock111 » Sat Aug 27, 2016 4:51 pm

let's take a look at your options:

Schulte's logo: cool, young, hip. says I'm here to work but really I'm here to grab that dough. SRZ. Sexy. Just oozes sex appeal.

Fried Frank's logo: Boring, old, washed up. I could make that thing in like 42 seconds. Says they're too pretentious to appeal to potential incoming associates. Judging by the logo, I would avoid this place completely.

Shearman's logo: is this even serious? Just awful. ITE, I would avoid working here. Very obvious they have no concern about their public appearance, which means you'll be cold-offered. 100% promise.

SRZ it is.

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Re: Schulte, Fried Frank, or Shearman?

Postby Anonymous User » Sat Aug 27, 2016 5:03 pm

Anonymous User wrote:Sorry to hijack the thread, but mind sharing when you had your callback with Shearman and when you got the offer?



op here. Interviewed Thursday afternoon, offer via vm this morning (Sat).

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Re: Schulte, Fried Frank, or Shearman?

Postby Anonymous User » Sat Aug 27, 2016 5:17 pm

Anonymous User wrote:
Anonymous User wrote:Sorry to hijack the thread, but mind sharing when you had your callback with Shearman and when you got the offer?



op here. Interviewed Thursday afternoon, offer via vm this morning (Sat).


Thanks. Thought I did really well there Tuesday, but I guess I'll have a meltdown now

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Re: Schulte, Fried Frank, or Shearman?

Postby Anonymous User » Sat Aug 27, 2016 5:26 pm

I know of 5 people who work at Fried Frank and love it.

stoopkid13

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Re: Schulte, Fried Frank, or Shearman?

Postby stoopkid13 » Sat Aug 27, 2016 6:03 pm

Anonymous User wrote:schulte is really good at one thing and one thing only. IM with hedge funds. have you seen the news lately? state pensions are pulling out of hedge funds. with a firm that is like 90% focused on that business alone, i would be scared about taking a job there. even without the current trend in hedge funds, i dont want to be at a firm with such a narrow focus unless you really had some undying passion for IM hedge fund work.

between fried frank and shearman, id probably go with fried frank. m&a is a wash between the two. and fried frank has other strengths as well. obviously real estate but it's also really strong in IM (and not just in hedge funds but also PE funds). culturally, i heard fried frank is terrible but it's purely anecdotal. fried frank has better PPP/RPL than shearman, and id go with the more stable firm than shearman.


How much do PPP/RPL matter when deciding where to summer?

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Re: Schulte, Fried Frank, or Shearman?

Postby Anonymous User » Sat Aug 27, 2016 6:04 pm

Given what you said, I'd choose between Fried Frank and Shearman. Both are great firms.

Shearman has an old school, white-shoe reputation that actually gives it great clout among older lawyers. Many see it as a peer firm with V15 firms, no matter what Vault might suggest. Great financial and M&A work, and a strong international presence.

Fried Frank is supposed to be a great place to work for.

All 3 firms are solid financially and won't collapse in the next few years.

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Re: Schulte, Fried Frank, or Shearman?

Postby Anonymous User » Sun Aug 28, 2016 12:39 pm

Thanks for the input from everyone above!

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Re: Schulte, Fried Frank, or Shearman?

Postby Anonymous User » Mon Aug 29, 2016 11:57 am

I work in corporate at Fried Frank so am biased, but just wanted to echo that I think FF is the move. Agree that the choice should ultimately be between FF and Shearman, and I obviously cannot speak to what its like to work at Shearman but I've truly had a great experience here -- people are amazing and mostly reasonable, management in the Greenwald era is greatly improved (and not just with respect to the firm's financials - there is a much more open dialogue between associates and management that is actually productive and the benefits of which are actually visible in firm life) and the corporate department is well-rounded and strong across the board.

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Re: Schulte, Fried Frank, or Shearman?

Postby Anonymous User » Tue Aug 30, 2016 12:38 pm

Anonymous User wrote:I work in corporate at Fried Frank so am biased, but just wanted to echo that I think FF is the move. Agree that the choice should ultimately be between FF and Shearman, and I obviously cannot speak to what its like to work at Shearman but I've truly had a great experience here -- people are amazing and mostly reasonable, management in the Greenwald era is greatly improved (and not just with respect to the firm's financials - there is a much more open dialogue between associates and management that is actually productive and the benefits of which are actually visible in firm life) and the corporate department is well-rounded and strong across the board.


As a junior transactional attorney at Shearman I can say the exact same words about Shearman, while noting I have no idea what Fried Frank is like.

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Re: Schulte, Fried Frank, or Shearman?

Postby Anonymous User » Fri Sep 09, 2016 12:36 pm

Anonymous User wrote:schulte is really good at one thing and one thing only. IM with hedge funds. have you seen the news lately? state pensions are pulling out of hedge funds. with a firm that is like 90% focused on that business alone, i would be scared about taking a job there. even without the current trend in hedge funds, i dont want to be at a firm with such a narrow focus unless you really had some undying passion for IM hedge fund work.



Schulte has been expanding other groups and is increasing their class size, I certainly wouldn't be concerned about taking a job there.



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