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Got a Biglaw SA offer in NY but only to join a niche group...transportation finance, specifically buying/selling/leasing/representing in general aviation groups. Anyone have insight in groups like this? Looks interesting, you get to deal with tangible assets, I'm assuming exit options are aircraft leasing companies, airliners, and manufacturer like Boeing.

Having trouble finding general information online...anyone here have experience or know anything about the area?

Not sure if helpful but I know someone who does aviation law...know very little about their day to day but they do seem to generate a good amount of business for their firm and do well. They also seem happy with their practice area.

This has to be Vedder Price right? This is like.. all they do. I've heard they're a tough tough place to work but they are a solid firm with solid exit options so it's all in all a good situation.

Anonymous User wrote:This has to be Vedder Price right? This is like.. all they do. I've heard they're a tough tough place to work but they are a solid firm with solid exit options so it's all in all a good situation.

If OP's offer is indeed from Vedder, which seems likely given how they've described it, the underlined portion above is, sadly, very accurate. Can't really speak to the second part.

The practice is truly international in scope. While that may seem like a selling point on its face, what it really means is that you are juggling multiple time zones at all times. Calls are scheduled at the times most convenient for everyone who is not an attorney. Closings happen at all hours of the day depending on where the asset is around the world. The hours are often brutally long, and because the financiers, lessors, and airlines are situated all over, the attorneys are the ones who are expected to stay up into the wee hours of the night/morning and handle everything that comes up prior to closing. Yes, you're handling tangible assets, but the thrill of doing so quickly loses its luster.

The worst part is that you'd currently be doing all of the above at a below-market salary. There are some rumors circling that VP will finally be matching the new market scale up to a certain class year, but nothing confirmed yet.

Finally, a big picture point -- aviation leasing/finance is quite rapidly turning into a commoditized market. This is not an industry that seems likely to grow (from a legal perspective) in the future. This warrants serious consideration as you look to already jump into a niche practice area from the jump.

Anonymous User wrote:

Anonymous User wrote:This has to be Vedder Price right? This is like.. all they do. I've heard they're a tough tough place to work but they are a solid firm with solid exit options so it's all in all a good situation.

If OP's offer is indeed from Vedder, which seems likely given how they've described it, the underlined portion above is, sadly, very accurate. Can't really speak to the second part.

The practice is truly international in scope. While that may seem like a selling point on its face, what it really means is that you are juggling multiple time zones at all times. Calls are scheduled at the times most convenient for everyone who is not an attorney. Closings happen at all hours of the day depending on where the asset is around the world. The hours are often brutally long, and because the financiers, lessors, and airlines are situated all over, the attorneys are the ones who are expected to stay up into the wee hours of the night/morning and handle everything that comes up prior to closing. Yes, you're handling tangible assets, but the thrill of doing so quickly loses its luster.

The worst part is that you'd currently be doing all of the above at a below-market salary. There are some rumors circling that VP will finally be matching the new market scale up to a certain class year, but nothing confirmed yet.

Finally, a big picture point -- aviation leasing/finance is quite rapidly turning into a commoditized market. This is not an industry that seems likely to grow (from a legal perspective) in the future. This warrants serious consideration as you look to already jump into a niche practice area from the jump.

Thanks for the advice, I have some time to think on it. Firm is actually not Vedder and I'd be paid at market.

Seconded what anon. above said re hours/international scope. I have around one year’s experience in this practice area, albeit in Europe. Great experience from a soft-skills perspective (drafting, negotiating, client care, liasing with local counsel), which is possible because the matters are capable of being broken down into relatively small “chunks” that can be run by a junior lawyer, since there’s a load of small-scale asset specific agreements (e.g. security agreements, warranty documents, registration paperwork, duplicated for each individual asset) that need handling. That’s also the down side: there’s so much paperwork and a lot of it is repetitive but requires careful review, often on short timeframes.

OP, do you mind PMing me which firm? I’m interested.

Anonymous User wrote:This has to be Vedder Price right? This is like.. all they do. I've heard they're a tough tough place to work but they are a solid firm with solid exit options so it's all in all a good situation.

Hate to Necro a threat that's 6-8 months old but can someone expand on this "tough place to work" thing for Vedder?

beeoBoop wrote: ↑

Thu Apr 18, 2019 5:55 am

Anonymous User wrote:This has to be Vedder Price right? This is like.. all they do. I've heard they're a tough tough place to work but they are a solid firm with solid exit options so it's all in all a good situation.

Hate to Necro a threat that's 6-8 months old but can someone expand on this "tough place to work" thing for Vedder?

bump

I'd be curious as well.

Would anyone be able to please share additional insight into what transportation finance work looks like?