How's the Houston legal market doing?

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How's the Houston legal market doing?

Post by Anonymous User » Tue Jul 21, 2020 1:48 pm

recent grad heading to VE/KE/LW where I summered. How's the Houston market doing and work at these firms, corp and lit? BB seems to be really struggling there and Texas is doing worse now with COVID. Are certain groups particularly slow? Have there been stealth layoffs?

Anonymous User
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Re: How's the Houston legal market doing?

Post by Anonymous User » Tue Jul 21, 2020 3:49 pm

Anonymous User wrote:
Tue Jul 21, 2020 1:48 pm
recent grad heading to VE/KE/LW where I summered. How's the Houston market doing and work at these firms, corp and lit? BB seems to be really struggling there and Texas is doing worse now with COVID. Are certain groups particularly slow? Have there been stealth layoffs?
It's too early to make any statements about the market wrt Texas-based firms. I summered at one of the firms you mentioned as well and I have an associate friend who told me "as long as the government keeps handing out essentially free money, we're going to be busy" which seems a pretty accurate assessment of what's going on when I run it against other statements I'm hearing from half-a-dozen folks I know at different firms in the market. We won't know what shape these firms are truly in until the gvmt assistance train runs out and a lot of the clients can no longer afford to pay their bills. In fact, there's a chance it could get especially rough if the money train reaches the end of its track before end of fiscal and these companies that have billed a bunch through the COVID crisis can't pay in December. January is probably a better time to ask this question when realization rates are known.

Big Red

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Re: How's the Houston legal market doing?

Post by Big Red » Tue Jul 21, 2020 9:09 pm

You might get a better response if you just reach out to someone junior you connected with over the summer at your firm. Unfortunately no one has the kind of visibility to tell you how the market is doing generally, most associates hardly even know what's going on on the floor above them much less at different firms. I also find myself super reticent to ask people if they have been busy, even w/in my firm because I don't want to go there - even though it does seem that people are finding things to do.

For the record, there aren't a lot of clients of VE/KE/LW that are living hand to mouth on government assistance, unless maybe you are talking about the interest rate environment in which case that's really just one group. Law firms also don't bill once a year in December...

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