Los Angeles Market Associates Taking Questions

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SmokeytheBear
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Re: Los Angeles Market Associates Taking Questions

Postby SmokeytheBear » Tue Oct 17, 2017 7:46 pm

Anonymous User wrote:No, sorry I hijacked the thread to an extent. The OP was asking about CC, I was asking about DTLA. Smokey is right, the public transit questions was for DTLA. Sorry for the confusion.


All good.

Point is that trains are a viable option (if not everyday at least some days), so you may want to consider the Valleys.

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Re: Los Angeles Market Associates Taking Questions

Postby Anonymous User » Tue Oct 17, 2017 7:53 pm

SmokeytheBear wrote:
Anonymous User wrote:No, sorry I hijacked the thread to an extent. The OP was asking about CC, I was asking about DTLA. Smokey is right, the public transit questions was for DTLA. Sorry for the confusion.


All good.

Point is that trains are a viable option (if not everyday at least some days), so you may want to consider the Valleys.


Thanks, will do. Any thoughts on North Hollywood/Toluca Lake area?

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SmokeytheBear
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Re: Los Angeles Market Associates Taking Questions

Postby SmokeytheBear » Tue Oct 17, 2017 7:57 pm

Anonymous User wrote:
SmokeytheBear wrote:
Anonymous User wrote:No, sorry I hijacked the thread to an extent. The OP was asking about CC, I was asking about DTLA. Smokey is right, the public transit questions was for DTLA. Sorry for the confusion.


All good.

Point is that trains are a viable option (if not everyday at least some days), so you may want to consider the Valleys.


Thanks, will do. Any thoughts on North Hollywood/Toluca Lake area?


I don't know the areas very substantively, so I'll leave others to comment. But from what I hear and how often I hear about it, North Hollywood is in the very early stages of getting hip.

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Re: Los Angeles Market Associates Taking Questions

Postby Anonymous User » Tue Oct 17, 2017 8:01 pm

Anonymous User wrote:
SmokeytheBear wrote:
Anonymous User wrote:No, sorry I hijacked the thread to an extent. The OP was asking about CC, I was asking about DTLA. Smokey is right, the public transit questions was for DTLA. Sorry for the confusion.


All good.

Point is that trains are a viable option (if not everyday at least some days), so you may want to consider the Valleys.


Thanks, will do. Any thoughts on North Hollywood/Toluca Lake area?


NoHo is growing rapidly. Real estate prices there are still cheap relative to the rest of LA. I live in TL and it's great. Somewhat suburbia-ish but still has its own charm. A bunch of movie/network studios are based there (including warner and disney). Home price are also on the rise but still relatively affordable.

Also, both areas have easy access to the train that takes you straight to DT

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Re: Los Angeles Market Associates Taking Questions

Postby Anonymous User » Wed Oct 18, 2017 11:29 am

Are there any corp groups that stick out as doing a lot of company-side stuff? I've read through the thread and have a decent amount of knowledge after practicing for a year but most firms I think of/know of are finance heavy and their corporate groups share those clients - funds, banks, etc.

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Colonel_funkadunk
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Re: Los Angeles Market Associates Taking Questions

Postby Colonel_funkadunk » Wed Oct 18, 2017 12:01 pm

Anonymous User wrote:
Anonymous User wrote:
SmokeytheBear wrote:
Anonymous User wrote:No, sorry I hijacked the thread to an extent. The OP was asking about CC, I was asking about DTLA. Smokey is right, the public transit questions was for DTLA. Sorry for the confusion.


All good.

Point is that trains are a viable option (if not everyday at least some days), so you may want to consider the Valleys.


Thanks, will do. Any thoughts on North Hollywood/Toluca Lake area?


NoHo is growing rapidly. Real estate prices there are still cheap relative to the rest of LA. I live in TL and it's great. Somewhat suburbia-ish but still has its own charm. A bunch of movie/network studios are based there (including warner and disney). Home price are also on the rise but still relatively affordable.

Also, both areas have easy access to the train that takes you straight to DT


The red line goes straight to union station in DTLA from north hollywood. I go through there every morning from the valley- it's very accessible.

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SmokeytheBear
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Re: Los Angeles Market Associates Taking Questions

Postby SmokeytheBear » Wed Oct 18, 2017 1:14 pm

Anonymous User wrote:Are there any corp groups that stick out as doing a lot of company-side stuff? I've read through the thread and have a decent amount of knowledge after practicing for a year but most firms I think of/know of are finance heavy and their corporate groups share those clients - funds, banks, etc.


As a starting point, I know that Loeb, Sheppard Mullin, and Mantt do a lot of company side work--whether as outside general counsel or their transactional work. Other firms in town do a lot of work directly for companies too.

Why the focus on company work? In house purposes?

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Re: Los Angeles Market Associates Taking Questions

Postby Anonymous User » Wed Oct 18, 2017 2:11 pm

SmokeytheBear wrote:
Anonymous User wrote:Are there any corp groups that stick out as doing a lot of company-side stuff? I've read through the thread and have a decent amount of knowledge after practicing for a year but most firms I think of/know of are finance heavy and their corporate groups share those clients - funds, banks, etc.


As a starting point, I know that Loeb, Sheppard Mullin, and Mantt do a lot of company side work--whether as outside general counsel or their transactional work. Other firms in town do a lot of work directly for companies too.

Why the focus on company work? In house purposes?


Thanks. Partly in house purposes, partly because I legitimately enjoy it more. Companies can be annoying, especially if they aren't sophisticated, but I much prefer that than working with needy/demanding banks and funds. Plus, most of the people I've seen leave go to a financial institution which I absolutely know I don't want, so I figure I have to pivot at some point.

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Re: Los Angeles Market Associates Taking Questions

Postby SmokeytheBear » Wed Oct 18, 2017 2:25 pm

Anonymous User wrote:
SmokeytheBear wrote:
Anonymous User wrote:Are there any corp groups that stick out as doing a lot of company-side stuff? I've read through the thread and have a decent amount of knowledge after practicing for a year but most firms I think of/know of are finance heavy and their corporate groups share those clients - funds, banks, etc.


As a starting point, I know that Loeb, Sheppard Mullin, and Mantt do a lot of company side work--whether as outside general counsel or their transactional work. Other firms in town do a lot of work directly for companies too.

Why the focus on company work? In house purposes?


Thanks. Partly in house purposes, partly because I legitimately enjoy it more. Companies can be annoying, especially if they aren't sophisticated, but I much prefer that than working with needy/demanding banks and funds. Plus, most of the people I've seen leave go to a financial institution which I absolutely know I don't want, so I figure I have to pivot at some point.


Good points. Just be careful. If you're doing only company side work, it might be a lot of M&A transactions, where you're doing only sell side company work, in which case there is no company for you to go in house in.

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Re: Los Angeles Market Associates Taking Questions

Postby Anonymous User » Thu Dec 21, 2017 11:58 am

Small necro since I’m interested in firms that dont have rigid groups on corporate (don’t separate M&A, securities, EC/VC, for example). I noticed a lot of shops have, say, an M&A and Finance group. Looking to possibly lateral as a junior and I don’t know if I’m ready to fully commit and I think there’s value to a more general practice if I want to go in house ASAP.

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Re: Los Angeles Market Associates Taking Questions

Postby SmokeytheBear » Thu Dec 21, 2017 12:04 pm

Anonymous User wrote:Small necro since I’m interested in firms that dont have rigid groups on corporate (don’t separate M&A, securities, EC/VC, for example). I noticed a lot of shops have, say, an M&A and Finance group. Looking to possibly lateral as a junior and I don’t know if I’m ready to fully commit and I think there’s value to a more general practice if I want to go in house ASAP.


The websites might say an attorney is part of a certain group, but they will also be parts of other groups. It’s just marketing. And partners are often (thought not always) more pigeon holed than associates.

I can think of a decent handful of firms that don’t force associates into a small group. It’s not in their best interest, as no individual practice will likely always be busy enough to supply work. Finance is usually separated from the rest of corporate, though.

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Re: Los Angeles Market Associates Taking Questions

Postby Anonymous User » Thu Dec 21, 2017 12:09 pm

SmokeytheBear wrote:
Anonymous User wrote:Small necro since I’m interested in firms that dont have rigid groups on corporate (don’t separate M&A, securities, EC/VC, for example). I noticed a lot of shops have, say, an M&A and Finance group. Looking to possibly lateral as a junior and I don’t know if I’m ready to fully commit and I think there’s value to a more general practice if I want to go in house ASAP.


The websites might say an attorney is part of a certain group, but they will also be parts of other groups. It’s just marketing. And partners are often (thought not always) more pigeon holed than associates.

I can think of a decent handful of firms that don’t force associates into a small group. It’s not in their best interest, as no individual practice will likely always be busy enough to supply work. Finance is usually separated from the rest of corporate, though.


That’s what I suspected. Does that track at place like Proskauer where they (by reputation) do a ton of PE M&A and their group is called M&A? Do they do other Corporate work too? I’d imagine they have to because who else would.

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Re: Los Angeles Market Associates Taking Questions

Postby SmokeytheBear » Thu Dec 21, 2017 12:15 pm

Anonymous User wrote:
SmokeytheBear wrote:
Anonymous User wrote:Small necro since I’m interested in firms that dont have rigid groups on corporate (don’t separate M&A, securities, EC/VC, for example). I noticed a lot of shops have, say, an M&A and Finance group. Looking to possibly lateral as a junior and I don’t know if I’m ready to fully commit and I think there’s value to a more general practice if I want to go in house ASAP.


The websites might say an attorney is part of a certain group, but they will also be parts of other groups. It’s just marketing. And partners are often (thought not always) more pigeon holed than associates.

I can think of a decent handful of firms that don’t force associates into a small group. It’s not in their best interest, as no individual practice will likely always be busy enough to supply work. Finance is usually separated from the rest of corporate, though.


That’s what I suspected. Does that track at place like Proskauer where they (by reputation) do a ton of PE M&A and their group is called M&A? Do they do other Corporate work too? I’d imagine they have to because who else would.


I can’t speak too much about Proskauer, but I wouldn’t say they do a ton of PE M&A, certainly relative to other firms in LA. Ares happens to be one of their larger clients, so they do a lot of work for Ares. And, yes, that work is broader than just M&A. They do debt and equity market work too

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Re: Los Angeles Market Associates Taking Questions

Postby Anonymous User » Mon Dec 25, 2017 6:44 pm

What’s the highest year lateral Hueston Hennigan will accept to their Newport office?

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Re: Los Angeles Market Associates Taking Questions

Postby Anonymous User » Wed Dec 27, 2017 10:03 pm

I get that there will be a range, but can anyone take a rough guess at the rough range for a 6th year ($280 market) at a mid-sized litigation boutique in LA (i.e. one that would be typically a little below-market as opposed to HH/Irell/Dovel)?

Also, is there anywhere relatively affordable (by Bay Area standards) to live near the West side of LA? Or are all those neighborhoods only convenient to Downtown?

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Re: Los Angeles Market Associates Taking Questions

Postby SmokeytheBear » Wed Dec 27, 2017 10:19 pm

Anonymous User wrote:I get that there will be a range, but can anyone take a rough guess at the rough range for a 6th year ($280 market) at a mid-sized litigation boutique in LA (i.e. one that would be typically a little below-market as opposed to HH/Irell/Dovel)?

Also, is there anywhere relatively affordable (by Bay Area standards) to live near the West side of LA? Or are all those neighborhoods only convenient to Downtown?


Regarding the places to live, look back in the thread. But the west side will be affordable compared to the bay area. For the most affordable, look at the Palms neighborhood or the general neighborhood called West LA (which has undefined borders, but basically south of wilshire, west of the 405, north of national, and east of cintenella). What the west side is also up for debate, but my answer considers anything west of Westwood.

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Re: Los Angeles Market Associates Taking Questions

Postby lolwat » Wed Dec 27, 2017 11:46 pm

Anonymous User wrote:I get that there will be a range, but can anyone take a rough guess at the rough range for a 6th year ($280 market) at a mid-sized litigation boutique in LA (i.e. one that would be typically a little below-market as opposed to HH/Irell/Dovel)?


Too many factors to answer this properly, IMO. What's midsized to you and Is it a specialized or general litigation practice? Are they doing high-end work? Do they have a bunch of insurer or municipal clients? I guess in general I'd probably say anywhere around 66% to 80% of biglaw compensation (some boutiques places give lower salaries but higher bonuses so they can better adjust for bad years) is probably reasonable for most good boutiques.

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Re: Los Angeles Market Associates Taking Questions

Postby Boutique_Associate » Tue Jan 09, 2018 12:57 pm

Anonymous User wrote:What’s the highest year lateral Hueston Hennigan will accept to their Newport office?


Depends on the candidate, but probably fifth year.

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Re: Los Angeles Market Associates Taking Questions

Postby Anonymous User » Tue Jan 09, 2018 1:31 pm

lolwat wrote:
Anonymous User wrote:I get that there will be a range, but can anyone take a rough guess at the rough range for a 6th year ($280 market) at a mid-sized litigation boutique in LA (i.e. one that would be typically a little below-market as opposed to HH/Irell/Dovel)?


Too many factors to answer this properly, IMO. What's midsized to you and Is it a specialized or general litigation practice? Are they doing high-end work? Do they have a bunch of insurer or municipal clients? I guess in general I'd probably say anywhere around 66% to 80% of biglaw compensation (some boutiques places give lower salaries but higher bonuses so they can better adjust for bad years) is probably reasonable for most good boutiques.


Any opinion or thoughts on Horvitz & Levy? Guess as to what associates there get paid? I was told that their partners are also on lock-step.

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Re: Los Angeles Market Associates Taking Questions

Postby jimmyplayer601 » Tue Jan 09, 2018 1:47 pm

Hello,

I’m from San Diego, and therefore want to work in Biglaw in LA and applying to law schools right now. Iwas wondering how much of an impact school plays into part ito recruitment. I got a hefty scholarship to Michigan and I’ll probably end up at a top 10, just wondered if certain schools place better in LA than others, went to an ivy for undergrad is that makes any difference.

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Re: Los Angeles Market Associates Taking Questions

Postby Anonymous User » Tue Jan 09, 2018 1:56 pm

Michigan places plenty well here, and I think better than some higher ranked schools.

lolwat
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Re: Los Angeles Market Associates Taking Questions

Postby lolwat » Tue Jan 09, 2018 2:50 pm

Anonymous User wrote:
lolwat wrote:
Anonymous User wrote:I get that there will be a range, but can anyone take a rough guess at the rough range for a 6th year ($280 market) at a mid-sized litigation boutique in LA (i.e. one that would be typically a little below-market as opposed to HH/Irell/Dovel)?


Too many factors to answer this properly, IMO. What's midsized to you and Is it a specialized or general litigation practice? Are they doing high-end work? Do they have a bunch of insurer or municipal clients? I guess in general I'd probably say anywhere around 66% to 80% of biglaw compensation (some boutiques places give lower salaries but higher bonuses so they can better adjust for bad years) is probably reasonable for most good boutiques.


Any opinion or thoughts on Horvitz & Levy? Guess as to what associates there get paid? I was told that their partners are also on lock-step.


The two appellate boutiques here (H&L being one) are amazing but basically (1) their work runs the entire range, from relatively low value cases and cases from insurer/municipal clients all the way up to cases before the CASCT and SCOTUS; (2) you'll work a LOT fewer hours than you would at HH, but you'll get paid a LOT LESS money too.

You're right about everybody being on lockstep at H&L. But for more information you'll have to PM.

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Re: Los Angeles Market Associates Taking Questions

Postby SmokeytheBear » Tue Jan 09, 2018 2:53 pm

jimmyplayer601 wrote:Hello,

I’m from San Diego, and therefore want to work in Biglaw in LA and applying to law schools right now. Iwas wondering how much of an impact school plays into part ito recruitment. I got a hefty scholarship to Michigan and I’ll probably end up at a top 10, just wondered if certain schools place better in LA than others, went to an ivy for undergrad is that makes any difference.


Others can feel free to tell me I am wrong, but UCLA and USC place the best in LA, with Boalt, Harvard, Georgetown not too far behind. Others, like Michigan, Stanford, NYU, etc place well too, but the numbers from the previously mentioned are highest. I don't see too many Penn, Duke, or UVA people out here. Note, though, that the reason some non-UCLA/USC place better than others has more to do with the fact that people who go to those schools want to be back in LA than it does with whether LA firms recruit at those schools.

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Re: Los Angeles Market Associates Taking Questions

Postby lolwat » Tue Jan 09, 2018 3:07 pm

SmokeytheBear wrote:
jimmyplayer601 wrote:Hello,

I’m from San Diego, and therefore want to work in Biglaw in LA and applying to law schools right now. Iwas wondering how much of an impact school plays into part ito recruitment. I got a hefty scholarship to Michigan and I’ll probably end up at a top 10, just wondered if certain schools place better in LA than others, went to an ivy for undergrad is that makes any difference.


Others can feel free to tell me I am wrong, but UCLA and USC place the best in LA, with Boalt, Harvard, Georgetown not too far behind. Others, like Michigan, Stanford, NYU, etc place well too, but the numbers from the previously mentioned are highest. I don't see too many Penn, Duke, or UVA people out here. Note, though, that the reason some non-UCLA/USC place better than others has more to do with the fact that people who go to those schools want to be back in LA than it does with whether LA firms recruit at those schools.


I don't have an amazing grasp of what schools everybody went to but this seems to track my general knowledge too. I think Harvard and Georgetown have giant classes relative to some of the other schools so that could be part of why we see so many from those two.

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Re: Los Angeles Market Associates Taking Questions

Postby bk1 » Tue Jan 09, 2018 3:08 pm

SmokeytheBear wrote:
jimmyplayer601 wrote:Hello,

I’m from San Diego, and therefore want to work in Biglaw in LA and applying to law schools right now. Iwas wondering how much of an impact school plays into part ito recruitment. I got a hefty scholarship to Michigan and I’ll probably end up at a top 10, just wondered if certain schools place better in LA than others, went to an ivy for undergrad is that makes any difference.


Others can feel free to tell me I am wrong, but UCLA and USC place the best in LA, with Boalt, Harvard, Georgetown not too far behind. Others, like Michigan, Stanford, NYU, etc place well too, but the numbers from the previously mentioned are highest. I don't see too many Penn, Duke, or UVA people out here. Note, though, that the reason some non-UCLA/USC place better than others has more to do with the fact that people who go to those schools want to be back in LA than it does with whether LA firms recruit at those schools.

I think you mean "most" rather than "best" (which is true for obvious reasons, and I don't think it's disputed that HYS have an advantage over UCLA/USC). To answer OP's question, yes better schools are generally going to be better for LA biglaw. Are UCLA/USC going to place better in LA than UM/UVA/NU/etc? I'm not entirely sure, though my suspicion is that it's kinda close. I think the more pertinent question between those caliber schools is whether you value biglaw or working in LA more.




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