DPW v. STB v. Cleary Forum

[Anonymous User]

I received offers from these three firms, and I'm having a hard time deciding which offer to accept. I'm definitely interested in corporate law, probably M&A or capital markets, but not sure yet.

Everyone I met at these three firms were nice, but I felt like DPW was a bit reserved and stuffy (not necessarily in a bad way that turned me off or anything). I was much more comfortable around Cleary folks, and STB was somewhere in the middle. If I had to go with my gut, I would choose Cleary or STB, but some people have told me that working at DPW will lead to better exit options down the road because DPW has a stronger corporate practice. Is that true? I want to work at a firm where I actually like the people and hang out with them from time to time after work. Would it be stupid to turn down DPW for Cleary? for STB?

[Anonymous User]

Different anon but in a similar situation. Deciding between STB and Cleary. Any material differences between their corporate practices that should be dispositive?

[v5junior]

I would choose Cleary or STB, but some people have told me that working at DPW will lead to better exit options down the road because DPW has a stronger corporate practice. Is that true?

No

[Anonymous User]

I would choose Cleary or STB, but some people have told me that working at DPW will lead to better exit options down the road because DPW has a stronger corporate practice. Is that true?

No

Could you please elaborate? Thanks!

[Anonymous User]

Also interested in this. I feel like I'm splitting hairs at this point. Is Cleary significantly weaker than STB and DPW?

[v5junior]

I would choose Cleary or STB, but some people have told me that working at DPW will lead to better exit options down the road because DPW has a stronger corporate practice. Is that true?

No

Could you please elaborate? Thanks!

In terms of the main three traditional corporate groups (M&A, Cap Markets, Banking), DPW and STB are effectively identical. On the margins, DPW has a slightly better rep for cap markets, and STB has a slightly better rep for m&a, but neither difference is significant enough to warrant playing any role in your decision.

If you're interested in other groups, the differences are more significant. DPWs bankruptcy and bank regulatory groups are unequivocally and significantly stronger than STBs, and STBs fund formation and real estate groups are unequivocally and significantly stronger than DPWs.

Don't have much information about Cleary, but my general sense is that they're slightly weaker across the board. But surely not enough to warrant ruling them out based on quality of work.

[Anonymous User]

I would choose Cleary or STB, but some people have told me that working at DPW will lead to better exit options down the road because DPW has a stronger corporate practice. Is that true?

No

Could you please elaborate? Thanks!

In terms of the main three traditional corporate groups (M&A, Cap Markets, Banking), DPW and STB are effectively identical. On the margins, DPW has a slightly better rep for cap markets, and STB has a slightly better rep for m&a, but neither difference is significant enough to warrant playing any role in your decision.

If you're interested in other groups, the differences are more significant. DPWs bankruptcy and bank regulatory groups are unequivocally and significantly stronger than STBs, and STBs fund formation and real estate groups are unequivocally and significantly stronger than DPWs.

Don't have much information about Cleary, but my general sense is that they're slightly weaker across the board. But surely not enough to warrant ruling them out based on quality of work.

DPW corp associate here. The three large groups are not effectively identical. Not sure where that's coming from. STB does more issuer/sponsor side work. We do more underwriter/lender work. Our M&A group is more of a mixed bag because we don't have a strong sponsor practice like K&E, STB, PW and our public company practice isn't as developed as CSM, WLRK, Skadden.

Agree with the above poster on the rest though. STB definitely stronger for anything fund-related. The two firms have different client bases, so that'll affect the type of work you do and your exit options to a degree. I also don't know really know much about Cleary. Their strength seems to come from leveraging their foreign offices to handle complex cross-border matters as opposed to excelling in a certain area or having a traditional client base.

But all three are excellent firms. Just think about the type of work you wanna do and who you do it for.

[v5junior]

By "effectively," I meant from the perspective of a 1L looking to maintain some vague sense of exit options....so that's where it's coming from...

[didntretake]

I think you should go wherever you liked the people the most. If you're not sure yet, because you've only met a few out of hundreds, you should talk to more people at each place and/or go for a second look. However, there's probably no wrong choice here.