Boutique corporate firms in NY? Forum

[Anonymous User]

Anyone know good boutique corporate transactional firms in NY? Trying to find good non-OCI firms to apply to.

Also, do corporate lawyers at Boies, Schiller & Flexner get paid as much as the litigation lawyers?

Thanks.

[Anonymous User]

WLRK

[thesealocust]

There really aren't many boutique corporate firms for some reason. Corporate work is much more consolidated in large firms and smaller offices of large firms than litigation.

[GeePee]

The boutique structure just isn't helpful to corporate work like it can be to litigation. Litigating cases takes a long time, so it's easier to have fewer cases. Although deals can involve lengthy processes, the average deal takes a lot less time than the average litigation, so having a large firm structure is beneficial for the purposes of maintaining an even flow of work. Corporate attorneys tend to specialize far more than litigators do, so having a diverse range of specialized talents requires a bigger department. Also, deals, unlike litigations, come up in the normal course of business, so having a full-service relationship with a firm that can handle acquisitions, financings, securities filings, etc. is preferred to bringing in an M&A powerhouse to handle a merger in the vein of bringing in a trial powerhouse to take care of one issue in litigation.

[Anonymous User]

Carter Ledyard

[cahesu]

The corporate associates at Boies get paid with the same compensation and bonus scheme as the litigation associates. Here is an ATL explanation of how bonuses are determined: http://abovethelaw.com/2009/12/associat ... -salaries/.

[patrickd139]

The corporate associates at Boies get paid with the same compensation and bonus scheme as the litigation associates. Here is an ATL explanation of how bonuses are determined: http://abovethelaw.com/2009/12/associat ... -salaries/.

Not sure I'd put much stock in a bonus structure article from 3 years ago.

[Old Gregg]

The corporate associates at Boies get paid with the same compensation and bonus scheme as the litigation associates. Here is an ATL explanation of how bonuses are determined: http://abovethelaw.com/2009/12/associat ... -salaries/.

Not sure I'd put much stock in a bonus structure article from 3 years ago.

Is this better?

http://abovethelaw.com/2011/12/associat ... s-cravath/

[Old Gregg]

Better question is not whether corporate associates and litigation associates are treated the same for bonus purposes at Boies, but whether corporate associates have enough work to bill to the threshold to let them take advantage of the bonuses.

[Anonymous User]

Yes, the bonus structure is still the same for corporate and litigation associates.

Yes, the corporate associates are busy enough to rack up hours that result in bonuses far outpacing the lockstep bonus firms.

[Old Gregg]

Yes, the corporate associates are busy enough to rack up hours that result in bonuses far outpacing the lockstep bonus firms.

Wasn't necessarily disputing it, but know a corporate associate there who disagrees...

[Anonymous User]

I'd be interested to hear your source on that. It doesn't gel with my experience of the corporate group.

[cahesu]

Note that the minimum associate bonuses at Boies this year for all classes were higher than the bonuses for third years and below at Cravath: http://abovethelaw.com/2012/12/associat ... s-himself/.

[timbs4339]

There used to be several boutique corporate firms, but I think they all got swallowed up by biglaw firms looking to establish a NY corporate presence. O'Melveny and Covington both got their NY practices through acquiring boutiques.

[Anonymous User]

There are still some small firms who concentrate on M&A/securities work in NY, but very few of them really hire the same way biglaw firms do. I'm thinking of firms like Breslow & Walker, Kaufmann Gildin, Lucosky Brookman, etc. A lot of them only get by through focusing on particular sub-specialities (ex: Kaufmann Gildin and franchising) and many fall far below what you would call "good firms", but they do exist.

[TaipeiMort]

Any difference in corporate/lit bonuses (which I've never hear of before) is made up for by generally better corporate exit options.

[Old Gregg]

Any difference in corporate/lit bonuses (which I've never hear of before) is made up for by generally better corporate exit options.

Yeah, Boies Schiller is one prestigious corporate shop.

[TaipeiMort]

Any difference in corporate/lit bonuses (which I've never hear of before) is made up for by generally better corporate exit options.

Yeah, Boies Schiller is one prestigious corporate shop.

I was talking about in general. However, my point remains for exit options even at Boies. There are just many more in-house corporate positions.

[Renzo]

There really aren't many boutique corporate firms for some reason. Corporate work is much more consolidated in large firms and smaller offices of large firms than litigation.

One reason that lit boutiques exist is that big firms cannot afford to bite the hands that feed them by opposing the big banks/fortune 100/etc. in litigation, because those institutions generate a ton of corporate work. Banks will waive conflicts for corporate work, but if you oppose them in litigation, you have made an enemy for life. Skilled litigators can often do better for themselves if they aren't conflicted out of suing these types of institutions, but there's no analogous advantage to a corporate lawyer starting a boutique.