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Reminder: 1 of 6 biglaw associates make partner
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Date: April 13th, 2015 9:54 PM Author: Low-t Parlour (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27685305) |
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Date: April 14th, 2015 9:07 AM Author: cordovan mischievous center (Kirkland troll (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27688041) |
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Date: April 14th, 2015 4:18 PM Author: orchid friendly grandma depressive (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690572) |
Date: April 13th, 2015 9:54 PM Author: Startled cobalt selfie wagecucks Much lower than that, no? (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27685312) |
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Date: April 13th, 2015 9:58 PM Author: Low-t Parlour At V50s, yes (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27685351) |
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Date: April 13th, 2015 9:55 PM Author: angry casino pozpig THIS IS VERY ENCOURAGING NEWS (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27685314) |
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Date: April 14th, 2015 9:01 AM Author: Nubile Floppy Point International Law Enforcement Agency are these stats actually published anywhere? (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27688021) |
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Date: April 14th, 2015 4:13 PM Author: Nubile Floppy Point International Law Enforcement Agency (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690538) |
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Date: April 14th, 2015 9:06 AM Author: Lime Maniacal State more like 1 in 20 (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27688036) |
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Date: April 14th, 2015 4:10 PM Author: blue boistinker could be even worse, if we're talking about making EQUITY partner at the v50 or v100 firm at which you started your career. just look at the new partner announcements for firms w no non-equity partners and compare the # of homegrown partners with the incoming class sizes. it's gonna be dismal. (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690521) |
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Date: April 14th, 2015 9:10 AM Author: Histrionic saffron immigrant much lower than that, and also lots of factors that go into the partnership decision are out of an associate's control (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27688045) |
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Date: April 14th, 2015 9:13 AM Author: Nubile Floppy Point International Law Enforcement Agency AT LEAST THERE ARE ALOT OF EXIT OPTIONS (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27688052) |
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Date: April 14th, 2015 4:09 PM Author: Concupiscible flirting mood An arguably bigger problem is that only complete psychos would put up with the NYC V30 bullshit long enough to make partner.
Assuming you aren't a complete psycho, you can lateral to a v100nor AMlaw 250 in a regional market where the overall QOL is much better (relatively) and making 'partner' is realistic, but it's just a title and you probably won't even make $200k as junior partner. Years and years of more drudgery to make equity partner, and those odds are low even if you want it |
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Date: April 14th, 2015 4:14 PM Author: Transparent Stead Messiness This is credited, but does underscore that the 1 in 20 odds at Latham or wherever aren't really the end of the story. (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690540) |
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Date: April 15th, 2015 1:14 AM Author: Concupiscible flirting mood Of course. On the one hand someone that's good but doesn't make partner at Cravath isnt forced into be being a librarian at a law school. On the other hand, making 'partner' at a good but not elite firm doesn't mean you've maed it whatsoever. (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27694237) |
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Date: April 14th, 2015 4:12 PM Author: blue boistinker i remember when i was a 2L, i was so naive -- as was XO in general -- that i thought shit like a 1:1 ratio actually meant something. xo2015 is surely more advanced than early xo in a lot of ways. (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690532) |
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Date: April 14th, 2015 4:55 PM Author: navy electric newt trust fund Why would a 1:1 ratio not matter? It's way better for your chances than being levered like Cravath. (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690788) |
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Date: April 14th, 2015 5:01 PM Author: blue boistinker i mean that i thought it was show up and bill for 7 yrs and you'll maek it (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690834) |
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Date: April 14th, 2015 11:34 PM Author: navy electric newt trust fund Oh yeah, there were a lot of people in LS who seemed to think that. I was fortunate enough to have met with a lot of Biglaw people when I was a teenager, all of whom told me I'd never make partner without business of my own.
So it's not really that the notion of "make the firm a lot of money" is wrong. As a senior associate you might be directly responsible for $~1M in revenue. It's just that you've underestimated the revenue requirement--you might need to be directly responsible for, say, $3M to maek it, and the only way to get there is with a $2M book of business. |
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Date: April 14th, 2015 4:13 PM Author: azure slippery sanctuary partner does the forthcoming mass retirement of boomers mean those numbers are about to change for the better? (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690537) |
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Date: April 14th, 2015 4:13 PM Author: Aggressive Adventurous Electric Furnace Making equity partner is kind of pointless when you think about it. If you're good enough to make equity partner at a large firm, you're probably good enough (or were good enough at some point) to start your own firm and clear 7 figures a year.
Obviously, certain practice areas are limited to big firms, but you get my point.
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Date: April 14th, 2015 10:59 PM Author: Concupiscible flirting mood Every practice area at a big firm is limited to a big firm. On manpower alone, you can't do big firm corporate or lit solo. Not to mention the specialists needed for big firm work, or the big firm rep to get those clients even if you somehow could do it solo or with a few random associates (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27693344) |
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Date: April 15th, 2015 12:05 AM Author: Aggressive Adventurous Electric Furnace They likely could have gone the higher end PI/med mal route and still made millions. (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27693857) |
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Date: April 15th, 2015 1:09 AM Author: Concupiscible flirting mood Not likely. Most V30 partners are prestige whores that thumb their noses at that shit, regardless of how profitable it may ultimately be. Most V30 m&a guys wouldn't stand a chance. V30 litigators may be even worse as they really thumb their nose at plaintiffs work and would be so red in the face from shame if they fell to that that wouldn't be successful (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27694221) |
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Date: April 15th, 2015 1:16 AM Author: Aggressive Adventurous Electric Furnace Why do they look down on that kind of law practice? A top PI/Med Mal lawyer can clear high 7 figures a year (or more)....if that's not prestigious, I don't know what is. (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27694241) |
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Date: April 15th, 2015 4:51 AM Author: Lascivious Arrogant Church Building oh OBVIOUSLY
i MEAN, OF COURSE you can run a multinational merger out of a solo "shop" - its like better call saul and shit
you are fucking done here. |
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Date: April 15th, 2015 4:53 AM Author: Aggressive Adventurous Electric Furnace You dumb smelly ape, read what I wrote.
They could have just picked some other practice area that can be done solo and still made millions. No one NEEDS to do M&A. |
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Date: April 14th, 2015 4:19 PM Author: gay community account Do Biglaw firms try to place, tie in, flatter and network those they kick out and those who decide to leave in the same way that BCG and McK do in consulting? (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690583) |
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Date: April 14th, 2015 4:22 PM Author: Transparent Stead Messiness Of course. (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690605) |
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Date: April 14th, 2015 4:22 PM Author: Histrionic saffron immigrant not NEARLY as much as they should imo (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690610) |
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Date: April 14th, 2015 4:34 PM Author: Transparent Stead Messiness One firm I know of has "alumni" events for people they canned. (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690663) |
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Date: April 14th, 2015 4:39 PM Author: gay community account would people shun or go to such an event? (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690681) |
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Date: April 14th, 2015 4:40 PM Author: Histrionic saffron immigrant that's so they can take a passive role in contacting former associates who now have jobs in house.
that's very different from grooming associates to go in house and forging significant relationships from the start |
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Date: April 14th, 2015 4:41 PM Author: soul-stirring whorehouse idiot Interesting point that I never thought of. Why does MBB do this? Never really thought about it, but have always noticed it. (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690699) |
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Date: April 14th, 2015 4:44 PM Author: gay community account good placements and good partings = future buyers of BCG/McK services moreover, the network becomes valuable to the ex-consultant in his further career |
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Date: April 14th, 2015 11:02 PM Author: Concupiscible flirting mood No, big firm partners are too shitty as managers to realize this would help them long term, and they're too beat down by biglaw to do it out of decency.
They wait until someone actually jumps Inhouse and then they start kissing ass |
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Date: April 15th, 2015 1:17 AM Author: Boyish kink-friendly rigor Top, especially the up or out firms, do a good job of this. Everyone else does not seem to (at least based on my experience with those in house who trash their former firm and would not send a penny of business). (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27694243) |
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Date: April 14th, 2015 4:21 PM Author: snowy generalized bond yarmulke so what's the EV on that? 1/6 * $20 mm? 30 mm? (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690598) |
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Date: April 14th, 2015 4:40 PM Author: Fragrant National Security Agency lol (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27690689) |
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Date: April 15th, 2015 1:10 AM Author: twinkling provocative preventive strike (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27694227) |
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Date: April 15th, 2015 1:57 AM Author: Emerald Mind-boggling Dysfunction Jap (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27694422) |
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Date: April 15th, 2015 1:57 AM Author: Emerald Mind-boggling Dysfunction Jap Law Degree for 300k? I like my odds (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27694425) |
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Date: April 15th, 2015 2:01 AM Author: twinkling provocative preventive strike (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27694441) |
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Date: April 15th, 2015 1:19 AM Author: fluffy useless brakes genital piercing OH WHAT A PRIZE WINNER (http://www.autoadmit.com/thread.php?thread_id=2854688&forum_id=2#27694248) |