Why do people say things like "V10 or bust"? Forum

[98234872348]

Given the fact that all BigLaw starting salaries are currently at 160K, what exactly is the relative advantage of working for a V10 firm as opposed to a V50 or V100 firm? Why do some people say things like "V10 or bust"? Do the higher ranked firms award larger bonuses? Do salaries start to significantly diverge after the first year? What exactly is it that these people are after?

This is like asking "when NYLS students can potentially make 160K/year, why do people say "T10 or bust"

hth.

What a ridiculous OL analogy. No, it's not like asking that at all. It is like asking: "If Robins Kaplan has PPP that's nearly double that of Cravath, why the fuck do I care if Cravath is V2 and Robins Kaplan is unranked?"

Yeah, well, sarcasm is lost on some of us. Also, I don't know anything about Robins Kaplan, but I assume you're not citing a real statistic. The only firm I know that is anywhere near double Cravath in PPP is Watchell, and even then, not really.

Anyways, my thoughts are that people crave rankings; the "ZOMG mine is bigger than yours" mentality. That's what breeds this type of mentality. I'm sure for many, a gig at Quinn Emmanuel would be better than a gig at Skadden, but, some people are just intent on being at the highest ranked firm possible. There is no explanation other than that people are obsessed with frivolous, superficial labels.

[McNabb]

The very funny thing about the V10 or bust idea is that many of the firms that provide the best partnership odds, best exit options, handle some of the most intriguing and high profile cases and best pay are not even in the V10 (see Williams and Connolly, Boies Schillner, Robbins Russell, Susman Godfrey, Munger, Bartlitt Beck etc.).

It's also the case that while a lot of "top" firms start you at $160k, the climb from there can be much slower at lower ranked firms than at V10 firms. That's the difference between making $250k after 5 years v. making $400k after 5 years.

I promise you that the climb in salary at Susman or Boies (non V10) are much higher than any of the non Wachtell V10 firms, not to mention the likelihood of you making partner.

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[sfdreaming09]

Is there a place where one can read up on profiles of firms? How do some people have so much info on these firms? Is there a website or something?

[Kohinoor]

Is there a place where one can read up on profiles of firms? How do some people have so much info on these firms? Is there a website or something?

http://www.vault.com

[insidethetwenty]

1. The opportunity to work on the biggest, baddest international corporate deals. V10 firms usually get the first calls on stuff like that (though ITE, some big companies' GC's are looking for a better price...)

2. The exit options. You can work there for 4-5 years and be pretty valuable to a smaller firm in a smaller market. You'll be doing smaller things, but your QOL will be better and you'll have the experience and connections with the movers and shakers. Also, you might have a good shot at getting into academia, or high-level federal government agencies (SEC), or become a Congressman/Senator/President, or becoming GC at a major multi-national, or a Federal Judge, and so on and so forth.

3. Prestige. Some people just have to have the shiniest everything. They went to high school at Higgenbothamshire Prep and then they said "HYP or BUST!". They finished at HYP and said "HYS or BUST". Then they said "Law Review or BUST!". Then they said "V10 or BUST!". It's just the natural progression of things...

[clintonius]

You should note, however, that it's probably easier to break into the V10 than some of the boutiques mentioned in this thread. I'm not sure about Boies, but I've heard Williams and Connolly referred to as the most difficult firm in the nation to get a job.

[puppleberry finn]

there was a pretty large gap between v25 and v50 firms as far as % offers from SA positions in 2009 though.

[booboo]

there was a pretty large gap between v25 and v50 firms as far as % offers from SA positions in 2009 though.

Had to come on and say hi.