What's going on at PW?

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What's going on at PW?

Post by Anonymous User » Thu Aug 27, 2020 12:16 pm

What's going on at PW? Have not come out with a start date yet. Have not offered incoming associates additional salary advances or stipends. Huge outlier in the V10, heck the V20. Anyone have any insight?

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Re: What's going on at PW?

Post by Anonymous User » Thu Aug 27, 2020 1:43 pm

Anonymous User wrote:
Thu Aug 27, 2020 12:16 pm
What's going on at PW? Have not come out with a start date yet. Have not offered incoming associates additional salary advances or stipends. Huge outlier in the V10, heck the V20. Anyone have any insight?
If they haven't announced by now, they probably will defer. Maybe they haven't decided whether it's January or February or even later.

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Re: What's going on at PW?

Post by Anonymous User » Thu Aug 27, 2020 4:05 pm

PW Anon: Bankruptcy & related practices (finance, funds, securities) and litigation are very busy. M&A has taken a hit but we're not fucked there, the PE practice and relationship with distress investors means we've got some stuff going on. Informal conversation I had with a partner I'm close with and is on management committee says receipts are up substantially YoY -- which is why PW is willing to hire right now. (See: the NorCal expansion, the recent securitization partner poach.)

IMO PW is fucking its associates by doing this. It's not a financial health thing. No color on how they're going to handle your class, sorry.

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Re: What's going on at PW?

Post by Anonymous User » Thu Aug 27, 2020 4:48 pm

Different PW anon. Highly doubt we're deferring to 2021. What i've heard is that the new first years will start in waves beginning in October but sounds like they're waiting to see what happens with the bar exam before making a final decision.

Popopo2019

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Re: What's going on at PW?

Post by Popopo2019 » Thu Aug 27, 2020 5:51 pm

Out of curiosity, why not just ask the recruiting people for an update?

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Re: What's going on at PW?

Post by Anonymous User » Fri Aug 28, 2020 12:00 am

Popopo2019 wrote:
Thu Aug 27, 2020 5:51 pm
Out of curiosity, why not just ask the recruiting people for an update?
Recruiting people have been asked and they told us that a decision hasn't been made yet. It's nearly September and legit only v20 firm without a plan. Can't imagine at this point they'd have us start before November. The lack of financial assistance is in stark contrast to peer firms as well.

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Re: What's going on at PW?

Post by Anonymous User » Fri Aug 28, 2020 9:12 am

Ah got it. Thanks for replying. The lack of communication is surely frustrating. I have no inside knowledge but I hope they’re more forthcoming soon.

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Re: What's going on at PW?

Post by Anonymous User » Fri Aug 28, 2020 1:34 pm

PW anon. Expecting our new first years to start 10/19. Might vary by group though.

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Re: What's going on at PW?

Post by Anonymous User » Fri Aug 28, 2020 1:46 pm

It's pretty shocking to me that they didn't provide financial aid.

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Re: What's going on at PW?

Post by Anonymous User » Fri Aug 28, 2020 3:59 pm

Anonymous User wrote:
Fri Aug 28, 2020 1:34 pm
PW anon. Expecting our new first years to start 10/19. Might vary by group though.
How do you know this?

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Re: What's going on at PW?

Post by Anonymous User » Fri Aug 28, 2020 6:07 pm

Anonymous User wrote:
Fri Aug 28, 2020 1:34 pm
PW anon. Expecting our new first years to start 10/19. Might vary by group though.
What group if you don't mind me asking?

enibs

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Re: What's going on at PW?

Post by enibs » Fri Aug 28, 2020 10:03 pm

There’s not really an excuse for not communicating with your incoming associates. Even if things are up in the air, you can tell them that. E.g., “We’re waiting to get finality on the bar before making a final decision, but hope to offer a start date of x. We’ll be in touch with more details as soon as we can.”

How hard is that?

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Re: What's going on at PW?

Post by Anonymous User » Sat Aug 29, 2020 7:34 am

enibs wrote:
Fri Aug 28, 2020 10:03 pm
There’s not really an excuse for not communicating with your incoming associates. Even if things are up in the air, you can tell them that. E.g., “We’re waiting to get finality on the bar before making a final decision, but hope to offer a start date of x. We’ll be in touch with more details as soon as we can.”

How hard is that?
Incoming associate here - agreed. They sent us an email about a month ago after the bar got delayed, acknowledging all of our concerns about housing, healthcare and the need to make decisions, letting us know they would let us know how they're supporting us "very soon." No word since then.

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Re: What's going on at PW?

Post by Anonymous User » Sat Aug 29, 2020 9:55 am

Anonymous User wrote:
Sat Aug 29, 2020 7:34 am
enibs wrote:
Fri Aug 28, 2020 10:03 pm
There’s not really an excuse for not communicating with your incoming associates. Even if things are up in the air, you can tell them that. E.g., “We’re waiting to get finality on the bar before making a final decision, but hope to offer a start date of x. We’ll be in touch with more details as soon as we can.”

How hard is that?
Incoming associate here - agreed. They sent us an email about a month ago after the bar got delayed, acknowledging all of our concerns about housing, healthcare and the need to make decisions, letting us know they would let us know how they're supporting us "very soon." No word since then.
And even that email was 3 months after they initially told us we would be delayed...

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Re: What's going on at PW?

Post by Anonymous User » Sat Aug 29, 2020 4:50 pm

That's really embarrassing on PW's end. It is a huge firm, with lots of admin people. What are they doing right now? When I was at DPW, the firm emplopyed people whose job was literally to organize and coordinate recruiting and on-boarding of associates. I'm sure PW has people it employs for similar functions. What are they doing right now? What is the "W" in their current "WFH"? Even if their bosses have left it up in the air, the least they can do is be communicative and responsive to incoming associate concerns.

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Re: What's going on at PW?

Post by Anonymous User » Sat Aug 29, 2020 5:33 pm

Anonymous User wrote:
Fri Aug 28, 2020 1:34 pm
PW anon. Expecting our new first years to start 10/19. Might vary by group though.
Different PW anon and this is right. The firm is assigning them to 4 different starts. Most firms picked dates faster partly because they are starting everyone at once and didn't use time and meetings to decide which of their first starts when and why. Our first year class is over 100 people too.

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Re: What's going on at PW?

Post by Anonymous User » Sat Aug 29, 2020 5:42 pm

Anonymous User wrote:
Sat Aug 29, 2020 4:50 pm
That's really embarrassing on PW's end. It is a huge firm, with lots of admin people. What are they doing right now? When I was at DPW, the firm emplopyed people whose job was literally to organize and coordinate recruiting and on-boarding of associates. I'm sure PW has people it employs for similar functions. What are they doing right now? What is the "W" in their current "WFH"? Even if their bosses have left it up in the air, the least they can do is be communicative and responsive to incoming associate concerns.
They don't seem to be communicating outright, but they are usually responsive when asked. It sounds like the admin people really don't know what's going on at this point and that decisions are still being made higher up. The admins did relay to some incoming associates that they were hoping for a set of 4 staggered start dates. Maybe that's why it's taking so long.

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Re: What's going on at PW?

Post by Anonymous User » Sat Aug 29, 2020 7:32 pm

Do any of the PW anons have insight as to which groups are starting when?

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Re: What's going on at PW?

Post by Anonymous User » Sun Aug 30, 2020 6:43 pm

Anonymous User wrote:
Sat Aug 29, 2020 7:32 pm
Do any of the PW anons have insight as to which groups are starting when?

Not a PW anon, but I personally think it is unlikely that the firm is going to allow some associates to start earlier than others. It just seems unfair to me.

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Re: What's going on at PW?

Post by enibs » Sun Aug 30, 2020 7:14 pm

Anonymous User wrote:
Sun Aug 30, 2020 6:43 pm
Anonymous User wrote:
Sat Aug 29, 2020 7:32 pm
Do any of the PW anons have insight as to which groups are starting when?
Not a PW anon, but I personally think it is unlikely that the firm is going to allow some associates to start earlier than others. It just seems unfair to me.
If it’s true that the start dates depend on practice area - and I have no idea whether that’s true - the only logical explanation would be that some practice areas have no work for new associates. But even if that were the case, you could still let them start and pay them and get them covered by health insurance and give them training, rather than leaving them out in the cold. I’m hoping it’s not true.

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Re: What's going on at PW?

Post by Anonymous User » Mon Aug 31, 2020 9:52 am

enibs wrote:
Sun Aug 30, 2020 7:14 pm
Anonymous User wrote:
Sun Aug 30, 2020 6:43 pm
Anonymous User wrote:
Sat Aug 29, 2020 7:32 pm
Do any of the PW anons have insight as to which groups are starting when?
Not a PW anon, but I personally think it is unlikely that the firm is going to allow some associates to start earlier than others. It just seems unfair to me.
If it’s true that the start dates depend on practice area - and I have no idea whether that’s true - the only logical explanation would be that some practice areas have no work for new associates. But even if that were the case, you could still let them start and pay them and get them covered by health insurance and give them training, rather than leaving them out in the cold. I’m hoping it’s not true.
Our bk first years are starting in October. We're busy and there's only a few of them so not difficult to on-board them together. I imagine the litigation and corporate first years will be staggered differently since there's many more of them. All of our practice groups are busier than they were pre-COVID so i wouldn't worry about not enough work.

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Re: What's going on at PW?

Post by Anonymous User » Mon Aug 31, 2020 1:36 pm

Thanks for sharing. If there are people starting in October (soon after the bar, I'm guessing), they really need to tell us.

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Re: What's going on at PW?

Post by Anonymous User » Mon Aug 31, 2020 7:34 pm

Anonymous User wrote:
Mon Aug 31, 2020 1:36 pm
Thanks for sharing. If there are people starting in October (soon after the bar, I'm guessing), they really need to tell us.
They just announced. Start dates are staggered between October and January, it seems.

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Re: What's going on at PW?

Post by Anonymous User » Mon Aug 31, 2020 11:55 pm

Anonymous User wrote:
Mon Aug 31, 2020 7:34 pm
Anonymous User wrote:
Mon Aug 31, 2020 1:36 pm
Thanks for sharing. If there are people starting in October (soon after the bar, I'm guessing), they really need to tell us.
They just announced. Start dates are staggered between October and January, it seems.
Correct.

Start date is not based exclusively on practice area. People in the same areas will start at different times. I'm only a junior associate, so I'm not privy to the parters rationale.

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Re: What's going on at PW?

Post by Anonymous User » Tue Sep 01, 2020 6:49 am

Anonymous User wrote:
Mon Aug 31, 2020 11:55 pm
Anonymous User wrote:
Mon Aug 31, 2020 7:34 pm
Anonymous User wrote:
Mon Aug 31, 2020 1:36 pm
Thanks for sharing. If there are people starting in October (soon after the bar, I'm guessing), they really need to tell us.
They just announced. Start dates are staggered between October and January, it seems.
Correct.

Start date is not based exclusively on practice area. People in the same areas will start at different times. I'm only a junior associate, so I'm not privy to the parters rationale.
I can’t believe they’re letting some start in October and randomly forcing others to start in December. With no stipend

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