V15 Partner/OCI Interviewer Answering Questions... Forum

[itbdvorm]

two separate recruiters (at different firms) have indicated to me that it looks like they'll do more 3L hiring this year than previously. Do you think these are unusual, or that this might be more common?

I figure this to be the result of conservative 2L SA hiring and underestimating hiring needs (better to hire too little, than to be stuck with unneeded associates). What are your thoughts?

Definitely possible. And 2014 looks like it could be a big year

Can you expand on this at all? Do you mean that firms are killing it and are gonna need more bodies?

Perhaps itbdvorm has a different source and can expand some more, but from what I know it's widely believed that 2014 will be a killer year for M&A and IPOs.

That's basically it. Market seems frothy so far.

[desertlaw]

A few hours away from 300 for January with all corporate work. So there's that.

[Anonymous User]

What do SAs in the corporate department spend the bulk of their time doing? Any advice as for how to prepare (i.e., any recommended reading, etc.)?

[desertlaw]

What do SAs in the corporate department spend the bulk of their time doing? Any advice as for how to prepare (i.e., any recommended reading, etc.)?

Depends on the office and how much work there is to do. Hard to give SA's much corporate work in the summer. You'll probably do some diligence, read through some contracts, look through things for nits, learn how to search for public filings, maybe research some topics of law. Some summer programs I've heard have you dive right in as a junior, but that's hard because you're leaving, which means they can't give you too much stuff to the point where you're a point-person.

Browse DealBook on NYT every few days. I've heard reading "Barbarians at the Gate" is cool. A M&A class might be helpful, so would securities regulation if you're doing capital markets.

In the end, most of the corporate SA work, and junior associate work, could be done by talented high-schoolers.

[itbdvorm]

What do SAs in the corporate department spend the bulk of their time doing? Any advice as for how to prepare (i.e., any recommended reading, etc.)?

Depends on the office and how much work there is to do. Hard to give SA's much corporate work in the summer. You'll probably do some diligence, read through some contracts, look through things for nits, learn how to search for public filings, maybe research some topics of law. Some summer programs I've heard have you dive right in as a junior, but that's hard because you're leaving, which means they can't give you too much stuff to the point where you're a point-person.

Browse DealBook on NYT every few days. I've heard reading "Barbarians at the Gate" is cool. A M&A class might be helpful, so would securities regulation if you're doing capital markets.

In the end, most of the corporate SA work, and junior associate work, could be done by talented high-schoolers.

+1 on everything til the end (no way would I trust a high schooler w/some of the stuff I ask my juniors to do).

DealBook, WSJ. Check Chambers or other publications for things the firm is good at, try to learn what those things are at a high level. Firm's website/news for big deals. If you can find out who your mentor is and what they do in advance and try to learn up on that a little that always helps. Being the person who asks "why/how" instead of "what?" is good.

[5ky]

A few hours away from 300 for January with all corporate work. So there's that.

m&a/capm?

[desertlaw]

A few hours away from 300 for January with all corporate work. So there's that.

m&a/capm?

Combination of everything, mostly former though.

+1 on everything til the end (no way would I trust a high schooler w/some of the stuff I ask my juniors to do).

DealBook, WSJ. Check Chambers or other publications for things the firm is good at, try to learn what those things are at a high level. Firm's website/news for big deals. If you can find out who your mentor is and what they do in advance and try to learn up on that a little that always helps. Being the person who asks "why/how" instead of "what?" is good.

Definitely figure out who the big players are in your office and what work teams/streams are important. Don't want to run into rain-maker in elevator and not know who he is.

[gnuwheels]

Question about vacations. I have a friend at Cravath for example and she says she gets 4 weeks vacation. My thought is: there is no way they actually take 4 weeks of vacation a year.

you have slightly touched on this before and that it depends on your seniority and how necessary you are to a specific deal or case. but i'm just wondering how much vacation time you are allocated and how much you take and how that compares to other associates in your class.

is there pressure to take a certain amount or no more or no less than a certain amount? what is the unspoken rule? and how does this maybe differ from peer firms?

[roranoa]

How old is too old for a new recruit? Say, is 33-ish too old and you would be reluctant to hire? Or can a candidate overcome that with good grades?

[84651846190]

How old is too old for a new recruit? Say, is 33-ish too old and you would be reluctant to hire? Or can a candidate overcome that with good grades?

33 is not old.

[hellojd]

I'm a little late to this thread, so sorry if this has already been asked.

Do you have any opinions on a future pay bump for associates / any thoughts on the "NYC to 180" potential bump? I never thought a 20k or 30k bump at once made much sense, but it seems like we're overdue for a slight bump (5k?) to at least keep pace with inflation? It's been sticky at 160 for a long time now it seems. Just wondering if you had any thoughts based on your conversations with partners at your firm or at other firms.

[desertlaw]

I'm a little late to this thread, so sorry if this has already been asked.

Do you have any opinions on a future pay bump for associates / any thoughts on the "NYC to 180" potential bump? I never thought a 20k or 30k bump at once made much sense, but it seems like we're overdue for a slight bump (5k?) to at least keep pace with inflation? It's been sticky at 160 for a long time now it seems. Just wondering if you had any thoughts based on your conversations with partners at your firm or at other firms.

Seems unlikely if only because there are more law students in T14 than there are spots open for BigLaw. There was some article passed around before about how biglaw is wanting to entice that HYS undergrad with a bigger number (instead of what they could make in banking or medicine or Zuckerberging) but I'm not sure I believe that BigLaw thinks that law school is producing fewer quality students than what they need.

[tonidee]

I was a 1L summer associate and am going to a different firm for my 2L summer that has a very reputable health care practice. I've been told by my professors to keep an open mind about the possibility of moving to a different firm with a reputable health care group. The firm I am going to has an 100% rate. I have seven years of industry experience and a graduate degrees from an ivy league institution.

What are your thoughts on doing the post-bar move? The move would be to a firm with a great health care group in the DC or NY area. I am a bit reluctant, given the market, but am willing to do a little more recon about the possibility.

[desertlaw]

Question about vacations. I have a friend at Cravath for example and she says she gets 4 weeks vacation. My thought is: there is no way they actually take 4 weeks of vacation a year.

you have slightly touched on this before and that it depends on your seniority and how necessary you are to a specific deal or case. but i'm just wondering how much vacation time you are allocated and how much you take and how that compares to other associates in your class.

is there pressure to take a certain amount or no more or no less than a certain amount? what is the unspoken rule? and how does this maybe differ from peer firms?

It will vary firm by firm, office by office, practice by practice, supervisor by supervisor. It is probably a bit easier for litigators to schedule in advance, whereas corporate vacations might be spur of the moment since you can't tell that far in advance. If you have an upcoming trip that is important to you, notify your supervisors about a month or 6 weeks before, then remind them a few times as it gets closer. But be prepared by the fact that you might be asked to cancel or expected to work during vacation. But again, this will depend on other members of your team.

A lot of biglaw firms will let you have unlimited vacation (maybe even 4 weeks) if you're getting your work done and you're not needed at the office. But it seems impossible to actually turn off the cell phone/computer for a full week (or even weekend) if that's what you're looking for in a vacation. Only during honeymoon and first kid, do firms seem to truly leave you alone. But if you're way above your required hours and you have no big projects, taking a week off is probably possible, would just need to have right timing (which you have little control over as a junior associate).

[desertlaw]

I was a 1L summer associate and am going to a different firm for my 2L summer that has a very reputable health care practice. I've been told by my professors to keep an open mind about the possibility of moving to a different firm with a reputable health care group. The firm I am going to has an 100% rate. I have seven years of industry experience and a graduate degrees from an ivy league institution.

What are your thoughts on doing the post-bar move? The move would be to a firm with a great health care group in the DC or NY area. I am a bit reluctant, given the market, but am willing to do a little more recon about the possibility.

What would be advantage of new firm if your 2L firm has the practice you're looking for and it's a reputable practice? There's no risk in looking at other options, but what is hypothetical imaginary firm offering that your 2L firm doesn't have?

[tonidee]

I am considering pursuing a judicial clerkship (not sure).

Advantages would include the year of advancement, clerkship bonus, higher starting salary (20-25K) as a first year associate.

Having done one summer, I think being a summer associate allows people to get to know you and you to get to know the firm. Going in as a first year is like going in blind, in my opinion.

[objecion]

Do you have an opinion about joining a school club, where you pay a few hundred a year so you can drink their overpriced highballs and be granted the privilege to check into their $250 a night rooms. I believe the idea is that networking and attending their network mixers makes it all worthwhile. I am considering joining but also wondering if this is something that is truly advantageous. Do you have any experience with joining a school club? If so, please let it rip....

[roranoa]

How old is too old for a new recruit? Say, is 33-ish too old and you would be reluctant to hire? Or can a candidate overcome that with good grades?

33 is not old.

So no disadvantage regarding age?

[tonidee]

Roranoa:

I am in my 30s and went through OCI that semester. I found my age to be an issue with a few employers, but it was framed in the "Why did you decide to go to law school after 10 years of working?" type of question. Most firms say my age, maturity, and experience as a good thing. Having work experience was definitely a confidence booster. It was easier to ask for help, clarification on projects, schedule lunches, and work with HR because of my previous work experience.


I think my work experience and good grades are reasons why I got offers with the firms on the top of my list. Being personable and interviewing well also helps.


One thought: I had to firm play up their maternity leave and work-life balance during the firm visit. They also had me interview with older associates. I thought it was interesting, and very smart, retrospectively.

[wojo98]

Taggin' this.

[fishfry111]

S

[Old Gregg]

Sorry if this has been asked, but I think I recall reading somewhere in these threads that, once you get out into the real world, people don’t refer to Vault ranks as much or not all all. I also heard this at a cocktail party, but didn’t have a chance to talk to that person more. I’m sure that doesn’t mean that people think that all firms are equal, in all specialities, so would you say that, once out of school, we go by Chambers bands for any given practice area?

You go by the strong sense of who peer firms are and non-peer firms are, a sense that is built by experience working across from lawyers on deals and cases (and how frequently you encounter them across the table).

You have to get over rankings and learn to determine shit on your own. In my practice area, there are three to four consensus firms, but there's a pretty solid consensus in the community as to which firms are the leaders nevertheless (or a solid consensus as to how you can differentiate the firms).

[itbdvorm]

Do you have an opinion about joining a school club, where you pay a few hundred a year so you can drink their overpriced highballs and be granted the privilege to check into their $250 a night rooms. I believe the idea is that networking and attending their network mixers makes it all worthwhile. I am considering joining but also wondering if this is something that is truly advantageous. Do you have any experience with joining a school club? If so, please let it rip....

+1 to everything zweitbester and desertlaw are saying.

i think school clubs are worth it if you use them for their actual amenities. otherwise, seems a bit silly

[fxb]

Sorry if this has been asked, but I think I recall reading somewhere in these threads that, once you get out into the real world, people don’t refer to Vault ranks as much or not all all. I also heard this at a cocktail party, but didn’t have a chance to talk to that person more. I’m sure that doesn’t mean that people think that all firms are equal, in all specialities, so would you say that, once out of school, we go by Chambers bands for any given practice area?

[brotherdarkness]

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