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I don't see why not. What would you have to lose?

daolivesea wrote: ↑

Thu Mar 11, 2021 11:38 pm

I don't see why not. What would you have to lose?

Gee... I don't know... maybe like word getting back to the firm... and the offer getting YANKED.

Yes, I would definitely try trading up. Just be kinda judicious where you apply. You don't wanna fire off applications to every single law firm on the planet.

Your current law firm doesn't sound so good.

I agree you that you should still try. If your T14 is like Georgetown, I’m not sure if you will much success since you’re still below median. Just be realistic about where you apply if you’re afraid of your firm somehow finding out.

Your firm’s OCI gpa statistics may be a good start in determining which firms may consider you. For example, if Firm X only takes 3.7+ at OCI, probably not worth it.

Try to hit up the firms that have been hiring a lot (Kirkland, Goodwin). I’m not sure if below median at a T14 will get any interest from either, but they may be open to hiring a 3L with some firm experience.

Also, worst case scenario, you can try to lateral after your first year.

No harm in trying, but you'll probably have much better luck as a lateral candidate. You don't want to be at a firm making those kinds of cuts, and the below-market comp will really hurt you as you rise in seniority.

hdr wrote: ↑

Fri Mar 12, 2021 10:45 am

No harm in trying, but you'll probably have much better luck as a lateral candidate. You don't want to be at a firm making those kinds of cuts, and the below-market comp will really hurt you as you rise in seniority.

OP here. Because I'm thinking about lateralling to the London market as a 3rd year, I'm not sure if how it'd look if I lateral after 1st year at my current firm? So it'd be like 1 year at my current firm, 1 year at a new firm in NYC, and lateral again to London, which might raise some questions. Or, does this make my reason for the 3L job search even more compelling, no matter how unlikely it'd be?

Anonymous User wrote: ↑

Fri Mar 12, 2021 11:27 am

hdr wrote: ↑

Fri Mar 12, 2021 10:45 am

No harm in trying, but you'll probably have much better luck as a lateral candidate. You don't want to be at a firm making those kinds of cuts, and the below-market comp will really hurt you as you rise in seniority.

OP here. Because I'm thinking about lateralling to the London market as a 3rd year, I'm not sure if how it'd look if I lateral after 1st year at my current firm? So it'd be like 1 year at my current firm, 1 year at a new firm in NYC, and lateral again to London, which might raise some questions. Or, does this make my reason for the 3L job search even more compelling, no matter how unlikely it'd be?

I have no idea how London lateral hiring works but I think that changes things a lot. If you're interviewing for a third firm so soon most people are going to think you've failed at your first two firms. I know plenty of people who lateral twice but they usually make their second move around year five or later.

Anonymous User wrote: ↑

Fri Mar 12, 2021 11:27 am

hdr wrote: ↑

Fri Mar 12, 2021 10:45 am

No harm in trying, but you'll probably have much better luck as a lateral candidate. You don't want to be at a firm making those kinds of cuts, and the below-market comp will really hurt you as you rise in seniority.

OP here. Because I'm thinking about lateralling to the London market as a 3rd year, I'm not sure if how it'd look if I lateral after 1st year at my current firm? So it'd be like 1 year at my current firm, 1 year at a new firm in NYC, and lateral again to London, which might raise some questions. Or, does this make my reason for the 3L job search even more compelling, no matter how unlikely it'd be?

If youre pretty sure you are going to leave within three years, and your first year you are paid market, then I wouldn't worry too much about the black box comp. You are not talking about that much money. I would think black box really starts killing you after 3rd year (but someone correct me if I'm wrong)... might still be worth trading up so you can lateral more easily, no clue there

If special bonuses are here to stay, the bonuses start to add up really quickly--nearly $130,000 in the first three years. Some lower V100 firms only pay bonuses to associates who hit 2100 or 2200, and they're often below lockstep; associates at 2000 getting nothing. Ten years ago bonuses were much smaller so it didn't matter as much whether you were at a V10 or V100, but times have changed.

Also, if a firm cancelled its summer program without pay and doesn't pay lockstep, they're more likely to let people go when work slows down.

hdr wrote: ↑

Fri Mar 12, 2021 3:41 pm

If special bonuses are here to stay, the bonuses start to add up really quickly--nearly $130,000 in the first three years. Some lower V100 firms only pay bonuses to associates who hit 2100 or 2200, and they're often below lockstep; associates at 2000 getting nothing. Ten years ago bonuses were much smaller so it didn't matter as much whether you were at a V10 or V100, but times have changed.

Also, if a firm cancelled its summer program without pay and doesn't pay lockstep, they're more likely to let people go when work slows down.

Yup, previous firm didn't pay a COVID bonus last year. Chaps my ass that I am now behind on comp compared to my peers. So I left.

hdr wrote: ↑

Fri Mar 12, 2021 3:41 pm

If special bonuses are here to stay, the bonuses start to add up really quickly--nearly $130,000 in the first three years. Some lower V100 firms only pay bonuses to associates who hit 2100 or 2200, and they're often below lockstep; associates at 2000 getting nothing. Ten years ago bonuses were much smaller so it didn't matter as much whether you were at a V10 or V100, but times have changed.

Also, if a firm cancelled its summer program without pay and doesn't pay lockstep, they're more likely to let people go when work slows down.

Is the impression of where the market is going toward? COVID/summer bonuses perhaps tied to pro rated hour thresholds around mid-year in addition to the standard market bonus at year end? Considering how many firms are reporting record profits, could certainly see this as a potential spot for firms to stay ahead of the pack, particularly with so many associates getting battered in terms of workload.