COVID-19’s effect on your practice check in Forum

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Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Mon Jun 08, 2020 12:26 pm

Anonymous User wrote:
Mon Jun 08, 2020 11:20 am
Anonymous User wrote:
Mon Jun 08, 2020 10:50 am
I work in M&A at a v15 as a mid-level. Here are my billable hours (not including pro bono and other nonbillable matters, which I've been doing to fill my time):

Jan - 210
Feb - 240
Mar - 65
Apr - 11
May - 48
Same story. v10 M&A third year.

Jan - 330
Feb - 198
Mar - 12
Apr - 6
May - 70
V50 M&A mid-level associate in secondary market - annualizing 2200 now, was up around 2400
Jan - 209
Feb - 170
Mar - 158
Apr - 150
May - 90

Not including Pro-bono or non-billable. If you include those I've been around 250-300 per month. Few projects coming back online this week and next so hopefully June will be higher than May

2013

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Re: COVID-19’s effect on your practice check in

Post by 2013 » Mon Jun 08, 2020 3:00 pm

Anonymous User wrote:
Mon Jun 08, 2020 12:26 pm
Anonymous User wrote:
Mon Jun 08, 2020 11:20 am
Anonymous User wrote:
Mon Jun 08, 2020 10:50 am
I work in M&A at a v15 as a mid-level. Here are my billable hours (not including pro bono and other nonbillable matters, which I've been doing to fill my time):

Jan - 210
Feb - 240
Mar - 65
Apr - 11
May - 48
Same story. v10 M&A third year.

Jan - 330
Feb - 198
Mar - 12
Apr - 6
May - 70
V50 M&A mid-level associate in secondary market - annualizing 2200 now, was up around 2400
Jan - 209
Feb - 170
Mar - 158
Apr - 150
May - 90

Not including Pro-bono or non-billable. If you include those I've been around 250-300 per month. Few projects coming back online this week and next so hopefully June will be higher than May
I’m assuming you’re not on a calendar year. That sucks that your annualized hours dropped so much unless your firm has lock step bonus.

Anonymous User
Posts: 428125
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Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Tue Jun 09, 2020 1:24 pm

Big firm labor and employment litigation (think Jones Day, Morgan Lewis, Proskauer, etc.), mid level.

March - 230
April - 175
May - 160
June - granted, only a week in, but on pace for 200+

FWIW, the last two weeks have felt much more “normal” — i.e., new work coming in, cases picking back up, etc. And for better or worse, still on pace for 2400+ (Non-calendar fiscal year)

Anonymous User
Posts: 428125
Joined: Tue Aug 11, 2009 9:32 am

Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Tue Jun 09, 2020 1:49 pm

Anonymous User wrote:
Mon Jun 08, 2020 11:20 am
Anonymous User wrote:
Mon Jun 08, 2020 10:50 am
I work in M&A at a v15 as a mid-level. Here are my billable hours (not including pro bono and other nonbillable matters, which I've been doing to fill my time):

Jan - 210
Feb - 240
Mar - 65
Apr - 11
May - 48
Same story. v10 M&A third year.

Jan - 330
Feb - 198
Mar - 12
Apr - 6
May - 70
v100 M&A fourth year.

Jan - 145
Feb - 190
Mar - 140
Apr - 55
May - 5

Zero so far in June. One deal from pre-COVID potentially coming back online soon but almost nothing new coming into the group.

Anonymous User
Posts: 428125
Joined: Tue Aug 11, 2009 9:32 am

Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Tue Jun 09, 2020 4:14 pm

2013 wrote:
Mon Jun 08, 2020 3:00 pm
Anonymous User wrote:
Mon Jun 08, 2020 12:26 pm
Anonymous User wrote:
Mon Jun 08, 2020 11:20 am
Anonymous User wrote:
Mon Jun 08, 2020 10:50 am
I work in M&A at a v15 as a mid-level. Here are my billable hours (not including pro bono and other nonbillable matters, which I've been doing to fill my time):

Jan - 210
Feb - 240
Mar - 65
Apr - 11
May - 48
Same story. v10 M&A third year.

Jan - 330
Feb - 198
Mar - 12
Apr - 6
May - 70
V50 M&A mid-level associate in secondary market - annualizing 2200 now, was up around 2400
Jan - 209
Feb - 170
Mar - 158
Apr - 150
May - 90

Not including Pro-bono or non-billable. If you include those I've been around 250-300 per month. Few projects coming back online this week and next so hopefully June will be higher than May
I’m assuming you’re not on a calendar year. That sucks that your annualized hours dropped so much unless your firm has lock step bonus.
Not calendar year; I should still be fine for bonus assuming things pick up. Bonuses are a bit more fluid though though since I'm in a secondary market they're not direct lock-step scale. Last year I was annualizing well below where I am now (by a significant margin) and still hit hours by year end so I'm holding out hope deals and distressed deals come to life and will push me above the mark.

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Anonymous User
Posts: 428125
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Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Tue Jun 09, 2020 4:18 pm

M&A junior, West Coast V50. Mostly tech companies.

March: 150
April: 175
May: 185
June: on track for 200+ so far

Numbers above include billable only, no pro bono etc.

New deals coming in went on pause for March and April but I'm seeing new ones coming in this month.

Anonymous User
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Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Tue Jun 09, 2020 5:28 pm

Capital markets has been ungodly busy at my V50. I heard at the Latham/DPW sweatshops it's been hell on earth.

Wearthewildthingsr

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Re: COVID-19’s effect on your practice check in

Post by Wearthewildthingsr » Tue Jun 09, 2020 7:57 pm

Anonymous User wrote:
Tue Jun 09, 2020 5:28 pm
Capital markets has been ungodly busy at my V50. I heard at the Latham/DPW sweatshops it's been hell on earth.
huh, with what? debt offerings?

Anonymous User
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Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Tue Jun 09, 2020 8:25 pm

Wearthewildthingsr wrote:
Tue Jun 09, 2020 7:57 pm
Anonymous User wrote:
Tue Jun 09, 2020 5:28 pm
Capital markets has been ungodly busy at my V50. I heard at the Latham/DPW sweatshops it's been hell on earth.
huh, with what? debt offerings?
I'm at a V50 and I'm on multiple IPOs and follow-ons (issuer side). Annualizing around 2400 currently.

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Anonymous User
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Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Tue Jun 09, 2020 9:13 pm

Wearthewildthingsr wrote:
Tue Jun 09, 2020 7:57 pm
Anonymous User wrote:
Tue Jun 09, 2020 5:28 pm
Capital markets has been ungodly busy at my V50. I heard at the Latham/DPW sweatshops it's been hell on earth.
huh, with what? debt offerings?
Yes -- ever since the market bottomed out it's been crazy. As a mid-level who exclusively does M&A/VC, I did my first five cap markets deals in the last three months because that group was getting crushed (and not even at a CM sweatshop).

A good gauge of US capital markets activity is how long it takes the printer to run two changes (half a day as of last week).

Wearthewildthingsr

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Re: COVID-19’s effect on your practice check in

Post by Wearthewildthingsr » Wed Jun 10, 2020 11:11 am

huh. I'm a midlevel in a REIT cap m group but haven't been super busy (been meeting hours though at 170). Been looking to move to a more general practice group. Not sure if now is a good time based off what you said or if I should just sit tight. I'm pretty secure in my current firm.

Anonymous User
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Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Thu Jun 11, 2020 6:06 pm

This has been asked before, but I’m curious if anyone has more info on Silicon Valley/Tech/EC-VC work. Curious about the Bay Area in general. IPOs at least seem to be happening quicker than before...am curious if these areas are experiencing a slowdown?

NoLongerALurker

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Re: COVID-19’s effect on your practice check in

Post by NoLongerALurker » Thu Jun 11, 2020 9:19 pm

Anonymous User wrote:
Tue Jun 09, 2020 9:13 pm
Wearthewildthingsr wrote:
Tue Jun 09, 2020 7:57 pm
Anonymous User wrote:
Tue Jun 09, 2020 5:28 pm
Capital markets has been ungodly busy at my V50. I heard at the Latham/DPW sweatshops it's been hell on earth.
huh, with what? debt offerings?
Yes -- ever since the market bottomed out it's been crazy. As a mid-level who exclusively does M&A/VC, I did my first five cap markets deals in the last three months because that group was getting crushed (and not even at a CM sweatshop).

A good gauge of US capital markets activity is how long it takes the printer to run two changes (half a day as of last week).
Haha, I love this.

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Anonymous User
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Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Thu Jun 11, 2020 10:08 pm

Anonymous User wrote:
Thu Jun 11, 2020 6:06 pm
This has been asked before, but I’m curious if anyone has more info on Silicon Valley/Tech/EC-VC work. Curious about the Bay Area in general. IPOs at least seem to be happening quicker than before...am curious if these areas are experiencing a slowdown?
SV EC/VC midlevel -- my last three months were 220, 290 and 203. So yeah, there's work. Can't speak to IPOs since I tend to skew more early stage but even with the slowdown (if not outright abatement) in the PPP loan rush and a few more down/flat rounds, we're still fairly busy.

Anonymous User
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Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Sat Sep 12, 2020 4:14 am

SV/Bay area V25 firm. I am a first year corp associate and I only have 1064 hours from January to August. Still need 936 hours to meet the minimum 2000 requirement, which is not gonna happen... Should I be worried? Will they fire me if I end up with 1400-1500 (hopefully) for my first year? Thanks in advance!!

Anonymous User
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Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Sat Sep 12, 2020 5:07 pm

Anonymous User wrote:
Sat Sep 12, 2020 4:14 am
SV/Bay area V25 firm. I am a first year corp associate and I only have 1064 hours from January to August. Still need 936 hours to meet the minimum 2000 requirement, which is not gonna happen... Should I be worried? Will they fire me if I end up with 1400-1500 (hopefully) for my first year? Thanks in advance!!
You're not alone! First-year Lit associate and hovering right around your hour total for Jan.-Aug. Been wondering the same...

Anonymous User
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Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Sun Sep 13, 2020 5:40 am

Anonymous User wrote:
Sat Sep 12, 2020 4:14 am
SV/Bay area V25 firm. I am a first year corp associate and I only have 1064 hours from January to August. Still need 936 hours to meet the minimum 2000 requirement, which is not gonna happen... Should I be worried? Will they fire me if I end up with 1400-1500 (hopefully) for my first year? Thanks in advance!!
Corporate midlevel in the same market who's been absolutely smashed along with our entire group and has to build in a healthy amount of lead time to get juniors staffed on deals. That's just a personal data point though since it's ultimately firm dependent...if the juniors in your group are similarly slow, then it's likely fine so long as you're doing good work and being responsive. Everyone realizes that this year is a black swan event and assuming the aforementioned on your work, it isn't your fault that you aren't putting in more hours.

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Anonymous User
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Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Sun Sep 13, 2020 6:17 pm

My team has had a crash in hours in the past two months. It’s led to partners hogging work and associates billing 80-100 hours the past two months. Starting to get concerned about whether I will have a job soon. I’m still on track for over 2000 hours on the year, but if it stays this slow, obviously I won’t hit that amount.

Anonymous User
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Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Mon Sep 14, 2020 12:44 pm

Flarmanarnar wrote:
Thu May 14, 2020 4:58 pm
Can someone speak to how structured finance/securitization practice groups are doing right now?
constantly posting links to LIBOR transition webinars for the past 5 months.

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UnfrozenCaveman

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Re: COVID-19’s effect on your practice check in

Post by UnfrozenCaveman » Mon Sep 14, 2020 1:15 pm

Anonymous User wrote:
Mon Sep 14, 2020 12:44 pm
Flarmanarnar wrote:
Thu May 14, 2020 4:58 pm
Can someone speak to how structured finance/securitization practice groups are doing right now?
constantly posting links to LIBOR transition webinars for the past 5 months.
I laughed.

Anonymous User
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Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Mon Sep 14, 2020 3:24 pm

UnfrozenCaveman wrote:
Mon Sep 14, 2020 1:15 pm
Anonymous User wrote:
Mon Sep 14, 2020 12:44 pm
Flarmanarnar wrote:
Thu May 14, 2020 4:58 pm
Can someone speak to how structured finance/securitization practice groups are doing right now?
constantly posting links to LIBOR transition webinars for the past 5 months.
I laughed.
Then why are some securitization groups posting positions for laterals? Anon b/c I applied to some and genuinely want to gauge my chances.

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Monochromatic Oeuvre

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Re: COVID-19’s effect on your practice check in

Post by Monochromatic Oeuvre » Mon Sep 14, 2020 8:28 pm

Anonymous User wrote:
Mon Sep 14, 2020 3:24 pm
UnfrozenCaveman wrote:
Mon Sep 14, 2020 1:15 pm
Anonymous User wrote:
Mon Sep 14, 2020 12:44 pm
Flarmanarnar wrote:
Thu May 14, 2020 4:58 pm
Can someone speak to how structured finance/securitization practice groups are doing right now?
constantly posting links to LIBOR transition webinars for the past 5 months.
I laughed.
Then why are some securitization groups posting positions for laterals? Anon b/c I applied to some and genuinely want to gauge my chances.
The fact that LIBOR transition links are annoying does not mean securitization practices aren't hiring.

Anonymous User
Posts: 428125
Joined: Tue Aug 11, 2009 9:32 am

Re: COVID-19’s effect on your practice check in

Post by Anonymous User » Mon Sep 14, 2020 9:09 pm

Monochromatic Oeuvre wrote:
Mon Sep 14, 2020 8:28 pm
Anonymous User wrote:
Mon Sep 14, 2020 3:24 pm
UnfrozenCaveman wrote:
Mon Sep 14, 2020 1:15 pm
Anonymous User wrote:
Mon Sep 14, 2020 12:44 pm
Flarmanarnar wrote:
Thu May 14, 2020 4:58 pm
Can someone speak to how structured finance/securitization practice groups are doing right now?
constantly posting links to LIBOR transition webinars for the past 5 months.
I laughed.
Then why are some securitization groups posting positions for laterals? Anon b/c I applied to some and genuinely want to gauge my chances.
The fact that LIBOR transition links are annoying does not mean securitization practices aren't hiring.
I guess I interpreted this as meaning the groups are slow (hence they have nothing better to do than post webinar links). My bad.

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