KE Chicago or STB NYC? Forum

[Anonymous User]

Lucky enough to choose between these firms with next summer. Largely indifferent between Chicago and NYC. Wondering if anyone can give some insight on which firm would be better to launch a transactional career.

[crouton62]

I think you need to think more about if you are truly indifferent about NYC or Chicago. Pretty different lifestyle/vibe between living in those two cities. I think this decision ultimately comes down to the choice of location. Really give a think on Chicago v. NYC and let that be your guide. I suppose one factor to consider/look into is how readily KE allows interoffice transfers if you pick KE Chicago initially but later decide you want to be in NYC after all.

But in terms of the firms themselves, both firms are elite in most all transactional practices and will give you good training/experience/name recognition as a place to start your career. KE is probably the true top dog in Chicago, whereas STB is somewhere in the pecking order with the handful of the other usual suspects for the "best non-Wachtell firm in NYC" but that alone isn't a reason to pick KE Chicago over STB NYC. If you are dead set on a niche transactional practice area where KE or STB have a notable distinction over the other, e.g., Restructuring at KE or mega-fund PE work at STB, then that could counsel in favor of one or the other, but it sounds like you are just looking for the best place for transactional work generally and aren't committed to any particular subspecialty yet. And even if you were, I am not sure that would trump being in the preferred city.

As a final factor, I don't follow the KE-haters' posts very much, but I gather from those that KE may have stealthed some associates earlier this year. I am not aware of reports of STB doing the same. That KE may be more ruthless than STB in cutting perceived dead weight associates is something to be mindful of in making your decision. YMMV as to how much weight you want to give that, depending on your personal risk tolerance. For myself, not sure I'd let that dissuade me from KE Chicago if all other factors were pointing me to that. Good luck!

[kingray01]

I think you need to think more about if you are truly indifferent about NYC or Chicago. Pretty different lifestyle/vibe between living in those two cities. I think this decision ultimately comes down to the choice of location. Really give a think on Chicago v. NYC and let that be your guide. I suppose one factor to consider/look into is how readily KE allows interoffice transfers if you pick KE Chicago initially but later decide you want to be in NYC after all.

But in terms of the firms themselves, both firms are elite in most all transactional practices and will give you good training/experience/name recognition as a place to start your career. KE is probably the true top dog in Chicago, whereas STB is somewhere in the pecking order with the handful of the other usual suspects for the "best non-Wachtell firm in NYC" but that alone isn't a reason to pick KE Chicago over STB NYC. If you are dead set on a niche transactional practice area where KE or STB have a notable distinction over the other, e.g., Restructuring at KE or mega-fund PE work at STB, then that could counsel in favor of one or the other, but it sounds like you are just looking for the best place for transactional work generally and aren't committed to any particular subspecialty yet. And even if you were, I am not sure that would trump being in the preferred city.

As a final factor, I don't follow the KE-haters' posts very much, but I gather from those that KE may have stealthed some associates earlier this year. I am not aware of reports of STB doing the same. That KE may be more ruthless than STB in cutting perceived dead weight associates is something to be mindful of in making your decision. YMMV as to how much weight you want to give that, depending on your personal risk tolerance. For myself, not sure I'd let that dissuade me from KE Chicago if all other factors were pointing me to that. Good luck!

Thank you for the great advice! I wish I had a better idea about which city I preferred but it seems like KE could be an interesting option with their range of office locations.

And you’re correct in that I’m not set on any particular practice area. Niche specialities are interesting and I’d probably lean funds opposed to restructuring but it isn’t a dealbreaker for me.

I’ll also say that KE’s reputation scares me but their attrition numbers don’t look too different compared to peer firms.

[Rule23andMe]

Seconding prior post, this choice really comes down to city preference. Where do/will you have more friends? Family? If you were to be in one or the other for the rest of your life, where do you think you'd rather settle down? Are you cost/savings-conscious? Your salary can go a bit further in Chicago. Don't need to answer here but think about it; I'd choose based on that alone

[Anonymous User]

KE Chicago is an incredible place. Of course it is intense, but I don't think people have any illusions about the work style of elite big law. Personally, I would only take STB if you really, really want to be in the Big Apple. Yes, the lifestyles are a little bit different between the two cities, but Chicago is more similar to New York than anywhere else in the country by a lot. And I think the somewhat slower pace of life translates into at least a marginally easier experience. Chicago is 80% of the city for 50% of the cost.

[The Lsat Airbender]

Chicago is 80% of the city for 50% of the cost.

This. If you're genuinely "indifferent" about the prospect of living in Chicago vs. New York, the former kinda wins by default because it's so much cheaper. It's like if you were indifferent between Delta and United, but one of them was 40% cheaper.

[Anonymous User]

We need thisismytlsuername to reignite the NYC over the world debate that took place a couple years ago

[Anonymous User]

Lucky enough to choose between these firms with next summer. Largely indifferent between Chicago and NYC. Wondering if anyone can give some insight on which firm would be better to launch a transactional career.

I think practice group and interests play a role, too. Obviously less than city preference (which is the biggest factor).

Both are PE heavy shops but focus on different types of funds and deals. KE dominates mid-cap funds and deals, often for the same clients, but STB still takes the cake for megacap funds and deals. KE is catching up in that regard, though and some think they might overtake STB. I personally think there's enough room for them both to eat, but who cares what I think.

This means different associate experiences. You might be able to get more substantive experience at KE earlier, which has pros and cons. Plus KE is free market, whereas STB has a one year rotation and is a hybrid assignment system. Lots to consider, and for corporate, can't go wrong here!