Whats going on at ropes, kirkland, and dechert?

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Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Sun Apr 26, 2020 10:13 pm

According to reddit, it looks like they're the only v50 firms who haven't provided meaningful updates to summer associates about what's going to happen this summer. It's a bit ominous. Any ideas about what this means?

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Mon Apr 27, 2020 12:28 am

Not to mention what's happening to incoming associates as these firms? I can't tell whether this is a good sign or bad that there hasn't been any public (or private for that matter) substantive release to summers or 2020s from my (hopefully future) firm? Hoping for the best...

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Big Red » Mon Apr 27, 2020 1:13 am

No first hand knowledge, but they are probably hoping for a little more clarity on when offices could open up. Some firms are doing "virtual" starts and that is a pain and maybe they are the optimistic group that thinks that won't be necessary.

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Mon Apr 27, 2020 1:25 am

Anyone know what's going on at Paul, Weiss? On reddit, it looks like there's some vagueness around whether offers are guaranteed, and there's no mention of pay for summers. And now it's been updated to say that the promised advances, due the week of April 20, haven't been paid as of April 26.

Also, link to reddit thread for reference: https://www.reddit.com/r/LawSchool/comm ... m_changes/

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Mon Apr 27, 2020 2:28 am

Anon because I don't want my account tied to my firm:

With regard to Kirkland, incoming first years (atleast at my office) were contacted by recruiting and told that they are still planning to start us in September. They said if the bar is moved, they'll pay us to study for it. Granted this was a month ago and the situation is quite fluid.

With Kirkland's stellar financials and cultural focus on toppling the established legal hierarchy (there's a new money/chip on the shoulder vibe to the place) I'd be very surprised and disappointed if they screwed over anyone. Their goal is to one day be seen as a "V5", not become the next Latham.

I'm especially curious to see what happens in Texas amdist the collapse of oil prices as Kirkland has heavily expanded into Houston and Dallas the past few years. In 2016 the price of oil also fell but Kirkland thrived. This is a much more severe collapse, but I'm hoping for the best.

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Sackboy » Mon Apr 27, 2020 2:36 am

Anonymous User wrote:Anon because I don't want my account tied to my firm:

With regard to Kirkland, incoming first years (atleast at my office) were contacted by recruiting and told that they are still planning to start us in September. They said if the bar is moved, they'll pay us to study for it. Granted this was a month ago and the situation is quite fluid.

With Kirkland's stellar financials and cultural focus on toppling the established legal hierarchy (there's a new money/chip on the shoulder vibe to the place) I'd be very surprised and disappointed if they screwed over anyone. Their goal is to one day be seen as a "V5", not become the next Latham.

I'm especially curious to see what happens in Texas amdist the collapse of oil prices as Kirkland has heavily expanded into Houston and Dallas the past few years. In 2016 the price of oil also fell but Kirkland thrived. This is a much more severe collapse, but I'm hoping for the best.
Of the like eight or so major companies that have hired K&E in the last two weeks to advise on bankruptcies/debt structuring, half of them have been energy/O&G companies. It looks like the industry is really getting the shit get kicked out of it in a material way, but it also likes like that is driving some real fees to K&E. Who all knows how it nets out?

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Mon Apr 27, 2020 10:52 am

Associate at Dechert. We just received an announcement this morning that the summer program is entirely cancelled (inc. no remote program) but that all summers would receive an offer to start post-grad and 6 weeks' pay. The one 1L summer will receive an offer for 2l summer.

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Mon Apr 27, 2020 12:48 pm

So that leaves us with Ropes.... anyone have an idea whats going there? Are they just taking longer to decide or are they having issues?

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Mon Apr 27, 2020 12:58 pm

Also curious about Ropes.

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Mon Apr 27, 2020 1:27 pm

Anonymous User wrote:So that leaves us with Ropes.... anyone have an idea whats going there? Are they just taking longer to decide or are they having issues?
Ropes financially should be relatively well positioned based on it's heavy PE client base.

My fund (who uses Ropes for c. 20m+ in business a year) is continuing to pursue new deals and we aren't the only ones.

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Mon Apr 27, 2020 2:21 pm

Anonymous User wrote:So that leaves us with Ropes.... anyone have an idea whats going there? Are they just taking longer to decide or are they having issues?
Anonymous for obvious reasons - no issues, they're just determining how to roll out a remote program.

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Mon Apr 27, 2020 3:41 pm

what's going on with gibson? anyone know?

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Tue Apr 28, 2020 11:56 am

Kirkland updated summers by email 1.5 weeks ago to say the program will be fully remote. There are still no other details (length of program, whether it will be shifted back a bit, etc.) but the most important updates - you don’t need to move, and you will have a job - were already given to summers.

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Tue Apr 28, 2020 12:00 pm

Anonymous User wrote:Anon because I don't want my account tied to my firm:

With regard to Kirkland, incoming first years (atleast at my office) were contacted by recruiting and told that they are still planning to start us in September. They said if the bar is moved, they'll pay us to study for it. Granted this was a month ago and the situation is quite fluid.

With Kirkland's stellar financials and cultural focus on toppling the established legal hierarchy (there's a new money/chip on the shoulder vibe to the place) I'd be very surprised and disappointed if they screwed over anyone. Their goal is to one day be seen as a "V5", not become the next Latham.

I'm especially curious to see what happens in Texas amdist the collapse of oil prices as Kirkland has heavily expanded into Houston and Dallas the past few years. In 2016 the price of oil also fell but Kirkland thrived. This is a much more severe collapse, but I'm hoping for the best.
Which office if you don't mind? Odd IMO that they haven't notified Chicago (my office), NY, or Dallas (offices of people I know) of a similar policy...

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Tue Apr 28, 2020 12:50 pm

Anonymous User wrote:
Anonymous User wrote:Anon because I don't want my account tied to my firm:

With regard to Kirkland, incoming first years (atleast at my office) were contacted by recruiting and told that they are still planning to start us in September. They said if the bar is moved, they'll pay us to study for it. Granted this was a month ago and the situation is quite fluid.

With Kirkland's stellar financials and cultural focus on toppling the established legal hierarchy (there's a new money/chip on the shoulder vibe to the place) I'd be very surprised and disappointed if they screwed over anyone. Their goal is to one day be seen as a "V5", not become the next Latham.

I'm especially curious to see what happens in Texas amdist the collapse of oil prices as Kirkland has heavily expanded into Houston and Dallas the past few years. In 2016 the price of oil also fell but Kirkland thrived. This is a much more severe collapse, but I'm hoping for the best.
Which office if you don't mind? Odd IMO that they haven't notified Chicago (my office), NY, or Dallas (offices of people I know) of a similar policy...

Don't want to share the office. Also, this could have very well been the recruiting staff spit-balling. They didn't tell everyone this. This is what they told someone that asked what would happen if the bar was postponed. So it isn't some official policy they've told everyone. Sorry if that was unclear.

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Tue Apr 28, 2020 2:09 pm

Anonymous User wrote:
Anonymous User wrote:So that leaves us with Ropes.... anyone have an idea whats going there? Are they just taking longer to decide or are they having issues?
Anonymous for obvious reasons - no issues, they're just determining how to roll out a remote program.
Do you know this for sure? It's kind of crazy that we're less than 3wks away from when we were supposed to start and we still haven't heard anything...

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Tue Apr 28, 2020 2:21 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:So that leaves us with Ropes.... anyone have an idea whats going there? Are they just taking longer to decide or are they having issues?
Anonymous for obvious reasons - no issues, they're just determining how to roll out a remote program.
Do you know this for sure? It's kind of crazy that we're less than 3wks away from when we were supposed to start and we still haven't heard anything...
Also supposed to be at Ropes this summer, I'm trying to figure out whether I need to ask for an advance or not. Sticking with the "no news is good news" mantra, but I'd really like some news

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Re: Whats going on at ropes, kirkland, and dechert?

Post by QContinuum » Tue Apr 28, 2020 3:10 pm

Anonymous User wrote:Also supposed to be at Ropes this summer, I'm trying to figure out whether I need to ask for an advance or not. Sticking with the "no news is good news" mantra, but I'd really like some news
If they're offering an advance, why not take it? Unless they're charging interest on it (which I've never heard of), there's really no reason not to take an offered advance.

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Tue Apr 28, 2020 4:06 pm

QContinuum wrote:
Anonymous User wrote:Also supposed to be at Ropes this summer, I'm trying to figure out whether I need to ask for an advance or not. Sticking with the "no news is good news" mantra, but I'd really like some news
If they're offering an advance, why not take it? Unless they're charging interest on it (which I've never heard of), there's really no reason not to take an offered advance.
They had advances available when we first accepted our offers but the deadline for those has passed and there's been no update on what the firm's doing

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Tue Apr 28, 2020 4:18 pm

Anonymous User wrote:
Anonymous User wrote:
Anonymous User wrote:So that leaves us with Ropes.... anyone have an idea whats going there? Are they just taking longer to decide or are they having issues?
Anonymous for obvious reasons - no issues, they're just determining how to roll out a remote program.
Do you know this for sure? It's kind of crazy that we're less than 3wks away from when we were supposed to start and we still haven't heard anything...
An assurance that some kind of program in some form is happening would be nice. Since we haven't gotten that, I think they might be shortening/canceling the program entirely. Otherwise why wait this long to tell us? I'm just speculating but its odd that peer firms made announcements weeks ago

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Re: Whats going on at ropes, kirkland, and dechert?

Post by Anonymous User » Wed Apr 29, 2020 4:22 am

Anonymous User wrote:what's going on with gibson? anyone know?
You may have already heard, but the formal program's shortened to 6 weeks with full pay. Whether or not the entire thing's virtual is up to individual offices. No word on offers.

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