Dechert v. Fried Frank NY Corporate Forum

[Anonymous User]

Anyone have thoughts on this? In terms of practice group strength/exit options?

[Anonymous User]

Fried Frank is ranked higher in Vault. In addition, Dechert has been going through layoffs and having financial problems. Those affected were advised to sign confidentiality agreements so news may trickle in slower, but you would be crazy to debate this.

[Anonymous User]

Ditto to above poster. Although I don't pay much attention to vault rankings, I can't imagine why you're debating this.

[Anonymous User]

i think easily fried frank here, unless you had some undying passion for working with registered funds in dechert's financial services group. i think corporate at fried frank is a cut above dechert corporate groups generally. heard bad things about both firms culturally, but if these are your choices might as well go with the one with better/more diverse strengths.

[Anonymous User]

The only reason I can think to choose Dechert is if you want to be able to move to Philly at some point without changing firms. Fried Frank is not the very top tier in NY corporate but is definitely well regarded (and punches a bit above its Vault and other ranks there because FF is mainly a corporate shop while some more prestigious firms are more known for litigation). Dechert is an outsider looking in for NY corporate.

Edit: Registered funds is a good call, too, but talk about a snoozefest of a practice.

[Anonymous User]

Fried Frank is ranked higher in Vault. In addition, Dechert has been going through layoffs and having financial problems. Those affected were advised to sign confidentiality agreements so news may trickle in slower, but you would be crazy to debate this.

Anyone else hear this about Dechert?

[Anonymous User]

The specialty practices at Dechert are very strong, and really its bread and butter. It used to market itself as a global specialist firm, and the truth is that in 25 years from now, Dechert's specialty groups are as likely to be thriving as any groups in the country.

The recurring issue is that the more generalized groups have peaks and valleys such that every few years you see hiring sprees and layoffs. The lack of transparency is such that you won't know the firm is having financial problems until it's too late to have a realistic chance to make a move. Whether you're a first year or a senior associate, your job is on the line out of the gate.

[Anonymous User]

Fried Frank is ranked higher in Vault. In addition, Dechert has been going through layoffs and having financial problems. Those affected were advised to sign confidentiality agreements so news may trickle in slower, but you would be crazy to debate this.

Anyone else hear this about Dechert?

Very curious about this as well. Seems like it's VERY off base considering their PPP, PPL, and other economic indicators.

[Anonymous User]

These kinds of things were more likely to leak in 2009, because they were less likely to reflect negatively on the firms.

[Anonymous User]

I've heard the same thing about Dechert having financial problems recently. I don't think it's anything that will sink the firm, but it isn't going to be good for associates.

[Anonymous User]

I've heard the same thing about Dechert having financial problems recently. I don't think it's anything that will sink the firm, but it isn't going to be good for associates.

Dechert RPL went down from $1,007,000 in 2015 to $995,000 in 2016; PPP went up from $2,500,000 to $2,550,000 according to the American Lawyer numbers released the past month. Not the best year, but far from "having financial problems"

[Anonymous User]

I've heard the same thing about Dechert having financial problems recently. I don't think it's anything that will sink the firm, but it isn't going to be good for associates.

Dechert RPL went down from $1,007,000 in 2015 to $995,000 in 2016; PPP went up from $2,500,000 to $2,550,000 according to the American Lawyer numbers released the past month. Not the best year, but far from "having financial problems"

My understanding is that some groups are way too slow right now. Not enough to affect the firm's financial health but enough to make layoffs a real consideration. I don't think it should have a huge impact on OPs choice. Just providing background chatter.

[Anonymous User]

I've heard the same thing about Dechert having financial problems recently. I don't think it's anything that will sink the firm, but it isn't going to be good for associates.

Dechert RPL went down from $1,007,000 in 2015 to $995,000 in 2016; PPP went up from $2,500,000 to $2,550,000 according to the American Lawyer numbers released the past month. Not the best year, but far from "having financial problems"

My understanding is that some groups are way too slow right now. Not enough to affect the firm's financial health but enough to make layoffs a real consideration. I don't think it should have a huge impact on OPs choice. Just providing background chatter.

The firm has a tendency to bring in classes it knows will exceed its needs. It's all at will employment, but if someone has a good summer experience, and all positive reviews, then they are not going to look into 3L hiring because it feels disloyal.

Conversely, if the groups hire 3L's to intentionally set up a hunger game's system where struggling a bit 2 weeks in can be career damaging, one would want to know this before they summer and not 1 1/2 years later. Combined with the fact that not one, or at most 1-2 partners started their legal careers with the firm, it suggests it may be a better 3rd or 4th step than 1st or second.

It's important to remember they've only become BL in the past 10/15 years, and that the market has not been slow this year. This is all more important to a 2L than anyone else, because until you're useful your career is largely dependent on being treated fairly and the people running the firm knowing what they're doing or at least not knowingly over-hiring.