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Anything regarding dealflow/culture/comp/exit opps would be helpful, thanks

Can someone do the same for the other major transactional firms in houston? KE, BB, V&E, AK, Sisley, Paul Hastings, Bracewell, etc

Anonymous User wrote:Anything regarding dealflow/culture/comp/exit opps would be helpful, thanks

Last year was pretty busy overall as the commodity prices stabilized and nearly all associates in Houston hit their hours for bonus. Been hiring some laterals recently as the deal pipeline has been expanding (especially anticipated IPOs and increased m&a and private equity, plus finance with restructuring and credit amendments, etc.). Expecting 2017 to be a bit busier, but increased headcount may even things out.

Comp is NY market, no distinction between LW US offices when it comes to comp. Only downside is no paid parking in Houston, but free office breakfast and jeans every friday, so that makes me only a little less disappointed. I think our offices are pretty nice and you can get a standing desk if you want one.

Office is a mix of TX firm laterals along people who wanted to move to Houston after working/studying in coastal markets, so I think there's a good mix of people and personalities. Some partners are more intense than others, but based on what i've seen/heard at other firms, I think it's actually a good group overall.

Now there is also a more established pipeline in recruiting from TX schools and T14 and I think that will continue to be the case as LW grows here. Houston office is one of firm's more profitable offices and is a net exporter of work, so firm is very invested in having Houston be a success.

Exit ops are what you'd typically expect, depending on your practice area of course: most people go in-house, primarily for energy companies (have big client base in TX, OK and CO), and have had people get good gigs in PE too, and then had a handful lateral to other firms for various reasons, but I think attrition is certainly less than what you'd see at NYC firms.

As for its standing among firms in Houston, LW works across from V&E most, BB next, and then mix of several others TX firms. Every once in a while, a NYC firm will be issuer or UW counsel, or rep a company in an m&a deal. LW has pretty extensive ties with underwriters that keeps office busy with CapM and also has many issuer clients (but less than VE/BB). Kirkland is most significant peer (as it continues to grow in Houston) and competes heavily in PE space and has growing finance group, and certainly competes for capM and m&a work. Will be interesting to see increased competition with new entrants (GDC, et al).

Overall, a pretty good big law gig. Source: work there, hence the anon. If you make a throwaway email or account, happy to discuss further.

Work in LW NYC and have always had great interactions working with the folks in the Houston Office.

Unrelated, but figured I might as well ask, what do people think of Orrick/Sidley/Blank Rome in Houston?

Anonymous User wrote:

Anonymous User wrote:Anything regarding dealflow/culture/comp/exit opps would be helpful, thanks

Last year was pretty busy overall as the commodity prices stabilized and nearly all associates in Houston hit their hours for bonus. Been hiring some laterals recently as the deal pipeline has been expanding (especially anticipated IPOs and increased m&a and private equity, plus finance with restructuring and credit amendments, etc.). Expecting 2017 to be a bit busier, but increased headcount may even things out.

Comp is NY market, no distinction between LW US offices when it comes to comp. Only downside is no paid parking in Houston, but free office breakfast and jeans every friday, so that makes me only a little less disappointed. I think our offices are pretty nice and you can get a standing desk if you want one.

Office is a mix of TX firm laterals along people who wanted to move to Houston after working/studying in coastal markets, so I think there's a good mix of people and personalities. Some partners are more intense than others, but based on what i've seen/heard at other firms, I think it's actually a good group overall.

Now there is also a more established pipeline in recruiting from TX schools and T14 and I think that will continue to be the case as LW grows here. Houston office is one of firm's more profitable offices and is a net exporter of work, so firm is very invested in having Houston be a success.

Exit ops are what you'd typically expect, depending on your practice area of course: most people go in-house, primarily for energy companies (have big client base in TX, OK and CO), and have had people get good gigs in PE too, and then had a handful lateral to other firms for various reasons, but I think attrition is certainly less than what you'd see at NYC firms.

As for its standing among firms in Houston, LW works across from V&E most, BB next, and then mix of several others TX firms. Every once in a while, a NYC firm will be issuer or UW counsel, or rep a company in an m&a deal. LW has pretty extensive ties with underwriters that keeps office busy with CapM and also has many issuer clients (but less than VE/BB). Kirkland is most significant peer (as it continues to grow in Houston) and competes heavily in PE space and has growing finance group, and certainly competes for capM and m&a work. Will be interesting to see increased competition with new entrants (GDC, et al).

Overall, a pretty good big law gig. Source: work there, hence the anon. If you make a throwaway email or account, happy to discuss further.

This is pretty much spot on. Office is busy and just had a sizeable round of lateral hires. Recent departure of two partners hasn't appeared to have much of an effect thus far, but time will tell.

Anonymous User wrote:Unrelated, but figured I might as well ask, what do people think of Orrick/Sidley/Blank Rome in Houston?

I can't speak to Orrick or Sidley, but Blank Rome is an interesting office. It was an existing boutique that was bought up by the national firm, and still has more of a boutique feel. Great people.