Vedder Price? Forum

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Vedder Price?

Post by Anonymous User » Mon Jul 05, 2021 12:13 pm

What’s the downlow on this firm? Compensation? Culture? Looking at a non-Chicago but market office. It seems like the satellite offices are smaller, how does that effect culture?

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Re: Vedder Price?

Post by Anonymous User » Thu Jul 08, 2021 9:46 pm

Hi,

To not dox myself, I am in the interviewing process with Vedder Price. It is a smaller firm, about 275, but expanding where the opportunities are. They opened up an office in Dallas about 6 months ago. Vedder is mostly known for its Global Transportation Finance Group, where many of the matters have to do with Aviation asset funding and transaction. This group has about 60 attorneys, so there is still plenty of other work to be done. People are lateraling in and out of the Chicago office, as you might expect. Couldn't get a great read on the culture from some of the partners. All associates I have talked to are great.

Because the firm is smaller, they run more lean. So, as soon as associates get the fundamentals down, they are running the smaller deals (sorry, can only speak to Corporate). They bring summer associates to client meetings and dinners.

Compensation is market. Vedder will be at $205,000 starting Jan 1, 2022, which is a little slower than the firms who moved to have compensation change by July 1, 2021. I think they are known for being a little slower moving.

Hope this helps

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Re: Vedder Price?

Post by Anonymous User » Sat Jul 10, 2021 7:24 am

Anonymous User wrote:
Thu Jul 08, 2021 9:46 pm
Hi,

To not dox myself, I am in the interviewing process with Vedder Price. It is a smaller firm, about 275, but expanding where the opportunities are. They opened up an office in Dallas about 6 months ago. Vedder is mostly known for its Global Transportation Finance Group, where many of the matters have to do with Aviation asset funding and transaction. This group has about 60 attorneys, so there is still plenty of other work to be done. People are lateraling in and out of the Chicago office, as you might expect. Couldn't get a great read on the culture from some of the partners. All associates I have talked to are great.

Because the firm is smaller, they run more lean. So, as soon as associates get the fundamentals down, they are running the smaller deals (sorry, can only speak to Corporate). They bring summer associates to client meetings and dinners.

Compensation is market. Vedder will be at $205,000 starting Jan 1, 2022, which is a little slower than the firms who moved to have compensation change by July 1, 2021. I think they are known for being a little slower moving.

Hope this helps
Thanks so much! I am also in the interviewing stage too. I got a great vibe from the partners and associates I spoke to, so I agree with you that the culture seems to be good. Do you know anything about compensation after junior levels? I believe they are black box both in their base and bonuses after a certain point.

2013

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Re: Vedder Price?

Post by 2013 » Sat Jul 10, 2021 11:25 am

Vedder is not market after a year or so, FYI

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Re: Vedder Price?

Post by Anonymous User » Sat Jul 10, 2021 1:23 pm

I interviewed w/ the Chicago office last year. Ultimately decided to go elsewhere but they are a great firm. They work hard for sure and at least in Chicago, they have great clients and the people are decent. Comp is NOT market.

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Re: Vedder Price?

Post by Anonymous User » Sat Jul 10, 2021 2:55 pm

2013 wrote:
Sat Jul 10, 2021 11:25 am
Vedder is not market after a year or so, FYI
Right but how compressed is the salary as you progress? What’s a 4th year or 6th years salary? What’s the bonus? Does the work-life balance justify the reduced pay?

2013

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Re: Vedder Price?

Post by 2013 » Sat Jul 10, 2021 3:21 pm

Anonymous User wrote:
Sat Jul 10, 2021 2:55 pm
2013 wrote:
Sat Jul 10, 2021 11:25 am
Vedder is not market after a year or so, FYI
Right but how compressed is the salary as you progress? What’s a 4th year or 6th years salary? What’s the bonus? Does the work-life balance justify the reduced pay?
I don’t work there, but I’ve heard that it’s still a very demanding firm and the bonuses aren’t great. Also, by midlevel, you could be $40K+ behind.

The new scale is below (from above the law):

Class of 2020: $205,000
Class of 2019: $210,000-$215,000
Class of 2018: $220,000-$240,000
Class of 2017: $235,000-$260,000
Class of 2016: $260,000-$280,000
Class of 2015: $280,000-$300,000
Class of 2014: $295,000-$315,000
Class of 2013+: $305,000-$325,000

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Re: Vedder Price?

Post by Anonymous User » Wed Nov 24, 2021 7:08 pm

The salary increase is also contingent on the firm’s billable target (which almost all juniors and mid levels don’t hit). Also effectively prohibits associates from bonuses.

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Re: Vedder Price?

Post by Anonymous User » Wed Nov 24, 2021 7:46 pm

A recruiter contacted me about a VP lateral position this summer and shared much of what others stated ITT. I would pursue other opportunities if I were you. At heart, VP is midlaw masquerading as a BigLaw. It offers all the drawbacks of BigLaw without any of the benefit$.

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