DPW HK vs White & Case NY? Forum

[Anonymous User]

MOD NOTE: OFF TOPIC DISCUSSION DELETED

Back to OP's question, I have lived and worked in both the US and HK. I can tell you that it is hard to move back to the US when you start out in HK. The COLA is good for DPW HK but in the long run, if you ever consider moving back to the US, not impossible, but it would be difficult. The work culture in HK is roughly the same (maybe slightly worse) as NY biglaw imo so it comes down to your long term plan.

[Sackboy]

I think it's a pretty open secret that HK/London are generally capital markets sweatshops for most firms. I'd start in NYC if White & Case or better is your option. You can always get to HK later.

[Anonymous User]

I think you should talk with someone who works in HK biglaw to get a more accurate description of their hours. One of my friends worked in a V15 firm in HK (not DPW) in the capital market group, I heard sometimes he needs to work US time in HK - working from 2pm to 7am...

[Anonymous User]

Congratulations on the offers. I have many friends/schoolmates working at DPW HK office (They did not even give me an interview due to my eww grades). Some started there right after graduation, and some transfer there from the NY office. Yes, the HK office mainly focuses on HK IPO and sometimes US IPO, with some M&A work. The clients are either SOEs or big techs. As for the HK IPOs, you as a US JD will focus on drafting the prospectus. Hours are brutal but I do not have first experience working in NY. But the money is good. I assume you will get COLA, so the post-tax earning is almost twice as much as what you would earn in the US. If you want to permanently work in HK in the future or in mainland China, starting in HK is fine so that you will build client relationships or know the market soon. If you want to start in NY, please make sure you will be assigned to M&A/Capital Markets/Funds/FCPA, then you have a great shot relocating to HK or mainland China. Otherwise, the HK offices will not be interested in your US experiences.

Additionally, you need to ask White & Case's policy of what if you don't get selected for the H1b visa. Some firms will relocate you to their overseas offices subject to the firm's needs, and some will simply fire you and you have to hunt for a job again.

[Anonymous User]

Wondering which offer OP accepted. Also, feel like the way DPW HK handles this is sketchy.

[Anonymous User]

How about Magic Circle firms' HK offices? They are much stronger in Asia than the V10s, right?

[Anonymous User]

How about Magic Circle firms' HK offices? They are much stronger in Asia than the V10s, right?

Magic Circle firms have broader, but not stronger practices. My understanding is that half of the V10s have very strong capital markets (and to a lesser extent M&A) teams in Hong Kong. You can almost always spot Skadden (Julie Gao) in the largest and hottest IPOs.

[Anonymous User]

How about Magic Circle firms' HK offices? They are much stronger in Asia than the V10s, right?

Magic Circle firms have broader, but not stronger practices. My understanding is that half of the V10s have very strong capital markets (and to a lesser extent M&A) teams in Hong Kong. You can almost always spot Skadden (Julie Gao) in the largest and hottest IPOs.

At least CC and Freshfields' CM team or M&A teams are on par with V10s' - many of them are band 1 in Chambers while the V10s are band 2 or lower, and most of the hot IPOs in town are handled by them. MCs used to be mostly just Hong Kong legal counsels (they used to have a substantial edge in HK Law), while the V10s have a substantial edge as US legal counsels. However, the dynamic is a bit complicated now since MC firms are expanding their US practice (they hired decent amount of US JDs) and V10 firms are expanding their HK practice (HK qualified lawyers but not US lawyers). So their practices are crossing over a bit.

Take 2 of the most famous 2020 ipos in HK for example:
(1) Kuaishou Technology IPO (think of it as TikTok equivalent in China) - https://www1.hkexnews.hk/listedco/listc ... 600013.pdf
Latham HK handles US law and HK law for the issuer; CC HK handles US/HK law for the underwriter

(2) JD.com Health
https://www1.hkexnews.hk/listedco/listc ... 600117.pdf
Skadden HK handles US law and HK law for the issuer; Cleary HK handles US/HK law for the underwriter

[Anonymous User]

Thanks for your responses. Can US JDs working as CM lawyers in HK/SG/London participate in purely national/regional deals that do not involve any US legal component?

[Anonymous User]

Thanks for your responses. Can US JDs working as CM lawyers in HK/SG/London participate in purely national/regional deals that do not involve any US legal component?

I have seen US firms with major HK CM presence sometimes ask US team lawyers to step in purely HK IPO as well to help draft sections of prospectus. But those lawyers typically work on US deals most of the time. Not sure about SG or London.

[Anonymous User]

----Thank you to all who answered ----

May I ask whether you chose DPW HK or another place? Thanks