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Hi guys. As OCI draw nearer, I hear frequent discussion about leverage ratios at V100 firms. I know that this is the associate:partner ratio. My question is, what are the pros/cons to higher/lower leverage ratios? My assumption would be that a lower ratio means more partner contact, the possibility for more substantive work, but also potentially higher face time expectations, whereas a higher leverage ratio would present the potential for being lost in the shuffle, and obviously lower partner prospects.

Are these assumptions correct? Any other pros, cons, or ways to think about leverage? Should it even be thought about at all when picking a firm? Thanks.

You're pretty much right. I work at a firm with low leverage and the downsides are more pronounced than I thought. When things get busy, associates get reamed. There are only so many people to spread the work among. Is the experience more substantive? Hard to say. There's probably some more responsibility as a junior than you'd get at a firm where there are three associates between you and the partner.