Debevoise Tax Group Forum

[Anonymous User]

Anon because the name might give me away.

I am an incoming SA at Debevoise and am interested in tax law. However, when I look into their websites and filter under the tax, it seems like there are no associates. Does anyone have any insight into the firm's tax group, what it is like to work there, and how competitive it would be to do tax at the firm?

[law2024]

Don’t have an answer to your question, but Deb’s website doesn’t include associates when you filter by practice area. Instead, put in “tax” as a keyword and filter by title for associates. 52 results for tax associates should appear.

[Anonymous User]

Deb tax group is highly desirable. Like any group, hours are still biglaw, but associates have more autonomy than peers. True of tax at most firms, from my understanding. Way too early for you to consider, but the main reason Debevoise tax is desirable comparable to other practices is because of the firm's partner lockstep (incl. tax partners).

As for selection, it's one of the rare groups where it's usually not enough for you to just choose them. When you return full time, you'll start in either lit, corp, or tax, so if by the end of the summer there's not a mutual selection, it probably won't happen. Each class year they take around 4. I think my summer there weren't many more than that who wanted tax, so I guess it's not crazy competitive amongst summers, but is competitive in the sense that the tax group is selective. My advice would be (1) if you're deadset on tax, be vocal about it, and do only tax work or (2) if you're not yet sure about tax, that's okay, but pick up at least 1 tax assignment from your first week in addition to your corporate assignments, and by at least week 6 or 7 shift to only tax assignments (or earlier) once you realize it's for you. I don't think treating tax like just another one of the corporate groups you're working between will demonstrate you're a strong candidate for tax.

Also, the website search function defaults to listing partners first and leaving associates off. Search by keyword "tax" in Professionals and you'll see the associates.

[Sackboy]

I think lockstep cuts both ways. It's desirable to be in a support group at a lockstep firm if you do make equity partner, because you can make as much as a rainmaking M&A partner. That being said, that also factors into the firm economics for promotion to equity partner. I'm sure any shop that is isn't lockstep is much more likely to consider making a new equity tax partner when they know that they can always keep them at the low end of their partner compensation spread.

[Anonymous User]

I think lockstep cuts both ways. It's desirable to be in a support group at a lockstep firm if you do make equity partner, because you can make as much as a rainmaking M&A partner. That being said, that also factors into the firm economics for promotion to equity partner. I'm sure any shop that is isn't lockstep is much more likely to consider making a new equity tax partner when they know that they can always keep them at the low end of their partner compensation spread.

For what it's worth, good tax people generally aren't kept at the bottom of the spread, even if they never bring in a single client, given how critically important they are to everything other than lit (they have a role in non-tax lit too). That said, they certainly don't tend to reach as high as top M&A partners, so, on balance, I agree that lockstep is very attractive for tax people. Of course, if you can make partner at a firm with significantly higher profits to move around than Deb, lockstep can be swamped out by there simply being more to go around. Doubt Simpson, Kirkland, PW etc. tax partners are sweating not being on lockstep (I say as a tax partner at a shop in this situation).

Edit: Deleted Wachtell from my example list because they are obviously lockstep and I haven't had enough coffee this morning!

[Anonymous User]

Doubt Wachtell, Simpson, Kirkland, PW etc. tax partners are sweating not being on lockstep (I say as a tax partner at a shop in this situation).

Wachtell is lockstep, although they get away with it by "having more to go around" so hardly detracts from your point

[Anonymous User]

Doubt Wachtell, Simpson, Kirkland, PW etc. tax partners are sweating not being on lockstep (I say as a tax partner at a shop in this situation).

Wachtell is lockstep, although they get away with it by "having more to go around" so hardly detracts from your point

Yep, not enough coffee this morning...

[Anonymous User]

How does ECB (exec comp) relate to the tax group? Does one start off in ECB? Or do you start in the tax group and choose to go into ECB at a later date?

[Anonymous User]

How does ECB (exec comp) relate to the tax group? Does one start off in ECB? Or do you start in the tax group and choose to go into ECB at a later date?

You start in ECB. Technically under the "tax" umbrella but really a separate group in practice.