STB NY v PW NY Forum

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Paul, Weiss or Simpson Thacher

Paul, Weiss
26
32%
Simpson Thacher
35
43%
Results
21
26%
 
Total votes: 82

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STB NY v PW NY

Post by Anonymous User » Sun Aug 13, 2023 3:57 am

I have these firms as options for 2L summer. Goals are to last in big law as long as I can. If I'm not cut out to be a partner, I'd then go in house, preferably to a consumer brand/entertainment company. I've found myself in a very hard place making this decision for a few reasons. I want to go into corporate work.

1) I'm very extroverted/social (in a non fratty way) and want to be at a place with individuals who match my energy level if I'm working crazy hours. Even hellos in the halls and casual conversations throughout the day make a difference.
2) I have various friends at Paul, Weiss but also don't want to make a decision based on that. Still, a level of comfort. My two main legal mentors are both PW associates.
3) Main area interests are mergers and acquisitions (but worried about work-life balance for that), followed by real estate. Also have an interest in capital markets work. STB has a large real estate group and PW doesn't.
4) Want to be at whatever firm I might last at longer, so care about sustainability in the long run (I get these both are firms that will require long hours and grinding, but if there's any difference, I'll take it into account)

I know this is all over the place, but it's hard to firmly know what practice group I want to eventually be in without doing rotations and so on. WWYD if you were me? I also have Cooley LA as an option and love their clients, but am hesitant about leaving NYC (still, if this is compelling as an option, let me know). Thanks in advance.

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Re: STB NY v PW NY

Post by Anonymous User » Mon Aug 14, 2023 2:01 pm

PW has the more well-rounded (and therefore better) corporate practice--top of the food chain on public company M&A as well as private equity buyouts. I see PW lawyers on more big public company M&A deals than STB, and the STB/BX relationship is equivalent to the PW/Apollo relationship. Further, the STB/BX relationship appears challenged more vigorously by K&E and others than does the PW/Apollo relationship.

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Re: STB NY v PW NY

Post by Anonymous User » Mon Aug 14, 2023 6:31 pm

If you are interested in M&A, Cap Markets, and Real estate try looking up the two firms in chambers to get an idea of whether the practice area exists at the firm and relative strength. Chambers isn’t perfect but will get you in the ballpark.

Well, I just did it out of my own curiosity but STB has a slight and dwindling edge on PW in M&A. For Cap Markets categories, STB is one of three firms (DPW and Latham being the others) that has across the board band 1 or 2 rankings in both issuer (e.g. the issuing company, like Apple or Microsoft) and manager counsel (e.g. underwriter like BofA or JP Morgan) for both stocks (equity) and bonds (debt). PW only competes with STB in high yield and equity issuer counsel but is ranked band 4 and 3. STB does not have a significant securitization practice but PW is ranked band 4.

PW does have a good RE practice but STB is band one for both NY and nationwide.

Again, Chambers is just one metric, but, at least for your interests, STB is going to be stronger.

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Re: STB NY v PW NY

Post by Anonymous User » Fri Aug 18, 2023 1:12 pm

STB's real estate practice is top notch and quite extroverted. They like to go out together, etc.

Probably makes sense to go to the place where you already have a lot of connections, though, if you're not tied to real estate. FWIW STB's RE group takes maybe like 3-5 summers into full time roles and it's generally not a rotation. It's a stand alone group technically outside or corporate, but on the plus side they aren't a support group. They run their own M&A and financing on RE deals unlike a lot of RE groups.

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Re: STB NY v PW NY

Post by jotarokujo » Fri Aug 18, 2023 3:27 pm

don't know much about the practice area so i'll say this:

my general impression is Paul weiss has a higher concentration of extroverted folks/more interaction between associates. I'd say if you're able to be social in law school, you'll be able to be social at paul weiss

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Re: STB NY v PW NY

Post by Anonymous User » Sat Aug 26, 2023 8:31 pm

PW attorney. No strong views re STB.

1. IMO PW is a pretty extroverted firm.
2. You will undoubtedly meet people wherever you go. Your friends should have zero impact.
3. At PW at least RE is its own thing. You can rotate through M&A and capital markets before deciding, but RE is its own silo and you'll need to decide at the end of your summer. FWIW our RE practice is a combination of merger support, high-level advising on huge deals for clients (but with a local firm doing the nuts and bolts), and client support. The group also does a smattering of NY centric RE work and has a few of its own clients, but doesn't seem expected to bring in $$$ on its own. Don't think anyone thinks it's a "top" practice, but the people seem happy.
On capital markets, my friends seem busy enough doing issuer work (PE IPOs and debt issuances for PE and public clients). Not sure how appealing underwriting work is. The derivatives and securitization groups are in finance if you care about those things.
4. Sustainability is a function of the individual teams you work with less than the aggregate # of hours you work. Plenty of humane (and inhumane) people/deals at PW. Would gladly take 200 more hours a year if my schedule was totally predictable and the people were all pleasant, etc. At least in PW corp you're able to self-staff if you want, which means that if you find your people you can stick with them.

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