You are vastly overestimating the number of clients in general that are "institutional" rather than being tied to a particular partner or group of partners who have no incentive to share business.Anonymous User wrote:I'm the anon you are quoting. It has absolutely nothing to do with books of business, and everything to do with signaling to senior partners at the firm you are joining that you are a good candidate to become a junior partner and service their institutional clients effectively and at 2500 hours or more a year.Monochromatic Oeuvre wrote:This is not how books of business work.Anonymous User wrote:If you make it to senior associate, you can often lateral to another firm where you will be in the running for partner.MaxMcMann wrote: So, if you don't mind me asking, what's the point of working at a place like Cravath versus a lower ranked V100 where you could have a semblance of a life at least some months. I'm assuming it's not the incredibly distant prospect of making partner. And my friend's a litigator so I don't know if he's juicing for those sweet M&A exit opps. Oddly enough, he says he really enjoys the work.
I work in a place that ranks about ten pegs lower on the prestige scale so like I said, pure voyeurism on my part, perhaps with a side of sour grapes.
Outside of a handful of firms, 99% of people don't make partner unless they already have business or it's believed that they will be able to generate business down the line.
