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Associate Bonus Watch: Gibson Dunn Quickly Distinguishes Itself From Latham

law firm associate bonus watch 2008 biglaw bonuses.jpgAfter yesterday’s Latham bombshell, Biglaw eyes turned to other California firms. Will Latham be a pack leader or a poop bag?

Last night, Gibson Dunn gave the first answer.

In individual meetings that started yesterday — and will continue today and tomorrow — Gibson associates are being informed of their 2008 bonus. As we understand it, Gibson Dunn associates will be receiving a Half-Skadden bonus.

We don’t like Half-Skadden bonuses around these parts (see here, here, here, and of course here). But given that Latham won’t even announce their bonus structure until after the new year, you have to be happy that Gibson said something.

Of course, thanks to Latham, the bigger question is what Gibson is going to do with associate salaries. More on that after the jump.

Again, because of the individualized nature of Gibson’s decision making process, there hasn’t been any official firm announcement about their salary structure. But Gibson Dunn sources from New York to L.A. report that they were promised that salary raises will proceed as planned. One tipster reports:

During reviews, each associate gets a 1 page sheet that details their hours for the year, 2008 bonus etc. It also has a line that says “2009 Salary”. … The others who I know who have received their reviews also have the same line showing the increased salary.

Since our story about Latham’s pay freeze, a number of people have remarked that Latham could be setting a trend for other Biglaw firms to follow. The Recorder reports:

Latham & Watkins said Tuesday it will freeze associate salaries in response to “challenging economic times,” a move that could signal the rest of the industry to follow suit, observers said.

“Everybody’s been waiting for some kind of signal from the market leader,” said consultant Peter Zeughauser, founder of The Zeughauser Group. “This will be a profound signal to the market about what to do.”

But with the Gibson Dunn news, maybe Latham doesn’t have the market pull that Cravath was able to induce with their weak bonuses?

We can only hope.

Latham’s Salary Freeze May Launch Trend [Law.com]

Earlier: Latham & Watkins Salary Shenanigans Follow-Up
Prior ATL coverage of associate bonuses.

Comments

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1 Posted by guest | Permalink Wednesday, December 17, 2008 1:34 PM

Blah blah blah.

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2 Posted by guest | Permalink Wednesday, December 17, 2008 1:35 PM

GDC First

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3 Posted by guest | Permalink Wednesday, December 17, 2008 1:35 PM

First.

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4 Posted by guest | Permalink Wednesday, December 17, 2008 1:37 PM

Gibson is really a much smaller firm. They're both great in LA, but I don't see why they are being compared.

5 Posted by Glass Cock | Permalink Wednesday, December 17, 2008 1:38 PM

Dear Elie:

Please replace the existing picture you use for Obama with the picture Drudge currently has on the top of his page. The Richard Pryor/Cuban stoner look is far more appealing than the harried lawyer having a smoke picture you currently use.

With holiday wishes,
The Glass Cock

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6 Posted by guest | Permalink Wednesday, December 17, 2008 1:38 PM

poop bag...wtf elie?

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7 Posted by guest | Permalink Wednesday, December 17, 2008 1:39 PM

Conservative bastards.

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8 Posted by guest | Permalink Wednesday, December 17, 2008 1:39 PM

Boo yah --

Sixth time as first this month.

Suckers.

- Blah blah blah 1

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9 Posted by guest | Permalink Wednesday, December 17, 2008 1:42 PM

Great use of the word poop bag, it should be used more on this site, such as: "Associate Life Survey- Is Elie Mystal a pack leader or a poop bag?"

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10 Posted by guest | Permalink Wednesday, December 17, 2008 1:42 PM

GDC - best firm to work for! Good salary and awesome people

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11 Posted by guest | Permalink Wednesday, December 17, 2008 1:42 PM

Great use of the word poop bag, it should be used more on this site, such as: "Associate Life Survey- Is Elie Mystal a pack leader or a poop bag?"

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12 Posted by guest | Permalink Wednesday, December 17, 2008 1:43 PM

Not like you have the law school grades to get into Gibson, even with a multi-million dollar portable book, so it's not really relevant.

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13 Posted by guest | Permalink Wednesday, December 17, 2008 1:43 PM

what about paul hastings?

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14 Posted by guest | Permalink Wednesday, December 17, 2008 1:43 PM

we don't like your fat ass, elie - can you do something about it?

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15 Posted by guest | Permalink Wednesday, December 17, 2008 1:45 PM

someone throw a shoe store at Elie

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16 Posted by guest | Permalink Wednesday, December 17, 2008 1:45 PM

does gdc pay lockstep or is it more like kirkland -- based on hours?

if the latter, color me unimpressed.

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17 Posted by guest | Permalink Wednesday, December 17, 2008 1:46 PM

why is the mormon church advertising here?

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18 Posted by guest | Permalink Wednesday, December 17, 2008 1:46 PM

GDC - best firm to work for! Good salary and awesome people

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19 Posted by guest | Permalink Wednesday, December 17, 2008 1:46 PM

14, that reminds me

BITCH SPREAD THE BUTT CHEEKS SO I CAN SMELL THE JUICY INSIDES!

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20 Posted by guest | Permalink Wednesday, December 17, 2008 1:47 PM

GDC - best firm to work for! Good salary and awesome people

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21 Posted by guest | Permalink Wednesday, December 17, 2008 1:48 PM

Re: 4

And Skadden is much larger than Cravath, yet we compare them all the time. I hear they're both "great" in NYC. Dipshit.

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22 Posted by guest | Permalink Wednesday, December 17, 2008 1:48 PM

GDC base salary is lockstep.

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23 Posted by guest | Permalink Wednesday, December 17, 2008 1:49 PM

1st year salaries to be rolled back to 1999 levels. You heard it here first.

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24 Posted by guest | Permalink Wednesday, December 17, 2008 1:49 PM

GDC FTW!

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25 Posted by guest | Permalink Wednesday, December 17, 2008 1:49 PM

10, 18, 20= yeah, if you like man meat

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26 Posted by guest | Permalink Wednesday, December 17, 2008 1:51 PM

Glad I went with GDC.

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27 Posted by guest | Permalink Wednesday, December 17, 2008 1:51 PM

You weren't 1, I was!

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28 Posted by guest | Permalink Wednesday, December 17, 2008 1:53 PM

Latham is done. No other V50 is going with their BS this year.

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29 Posted by guest | Permalink Wednesday, December 17, 2008 1:53 PM

@7:

Why do you hate freedom?

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30 Posted by guest | Permalink Wednesday, December 17, 2008 1:54 PM

Latham is done. No other V50 is going with their BS this year.

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31 Posted by guest | Permalink Wednesday, December 17, 2008 1:54 PM

Just don't let your grades drop of Gibson will no-offer you faster than you can say "loan default."

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32 Posted by guest | Permalink Wednesday, December 17, 2008 1:55 PM

GDC's recruiting were giant douches to many of my 2L friends across several law schools and offices. wouldn't want to work there after that showing

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33 Posted by guest | Permalink Wednesday, December 17, 2008 1:56 PM

There is no way that what GDC is telling its associates right now reflects any potential reaction by GDC to Latham's salary freeze. GDC's process of communicating 2008 bonus/2009 salary to its associates was under way at the time the L&W announcement became public. GDC has evidently followed the downward trend in bonuses. It remains to be seen (a) if salary freezes become a trend, and (b) whether GDC would follow such a trend.

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34 Posted by guest | Permalink Wednesday, December 17, 2008 1:56 PM

BITCH SPREAD THE BUTT CHEEKS SO I CAN SMELL THE JUICY INSIDES!

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35 Posted by guest | Permalink Wednesday, December 17, 2008 1:58 PM

GDC SUCKS, and here's why -- several 3Ls at my t-6 school have told me that they don't give you an offer after the summer if your grades drop.

as risk-averse lawyers, that should scare the hell out of you. you may have done ok as 1L but you could easily screw up as a 2l -- grading is very random.

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36 Posted by guest | Permalink Wednesday, December 17, 2008 1:59 PM

It's kind of misleading to say GDC's bonuses are half-Skadden. The base bonuses seem to be half-Skadden, but you can get bumped up significantly for hours and performance. The firm was very busy this year, so a lot of people have gotten bonuses closer to the Skadden scale or higher.

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37 Posted by guest | Permalink Wednesday, December 17, 2008 1:59 PM

GDC's recruiting were giant douches to many of my 2L friends across several law schools and offices. wouldn't want to work there after that showing

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38 Posted by guest | Permalink Wednesday, December 17, 2008 2:02 PM

4, you have no idea what you are talking about. GDC competes with Latham in LA and elsewhere for associates and partners. Although Latham is a larger firm, GDC is a large firm and one of the few that rivals Latham's prestige in LA. GDC has a reputation for being exceedingly well managed, and a bit more litigation heavy than Latham. It has to be a bit humiliating for the supposed super-firm Latham to be unable to pay for top talent, but that's the way things are in this economy. It may be that Latham's deal focus leaves it more exposed.

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39 Posted by guest | Permalink Wednesday, December 17, 2008 2:02 PM

"GDC SUCKS, and here's why -- several 3Ls at my t-6 school have told me that they don't give you an offer after the summer if your grades drop. "

I haven't really seen this happening. Maybe your friends screwed up in other ways during the summer and just like to think it was the grades. After all, it's not like they tell you why you don't get an offer.

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40 Posted by guest | Permalink Wednesday, December 17, 2008 2:03 PM

21 - you can compare number of things to each other, regardless of how similar/dis-similar. I think what 4 was referring to was this idea the GDC and Latham are close competitors with the same business model.

Comparisons with Skadden are much more relevant for Latham, as their business models are much closer than is Latham's to GDC's.

Moron

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41 Posted by guest | Permalink Wednesday, December 17, 2008 2:04 PM

16 - GDC pays lockstep.

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42 Posted by guest | Permalink Wednesday, December 17, 2008 2:04 PM

We've all been so beaten down by the economy and Cravath resetting the market after Skadden tried to keep last year's bonuses that everyone I know at my V30 firm assumed the market would fall in line behind Latham in freezing salaries. Heck, I'm sure Latham thought that as well.

But maybe we're seeing a reverse-Cravath: a major player trying to go low, and the market balking and going higher instead. It's one thing to stop paying huge bonuses in a flagging economy, but it's quite another to, effectively, lower salaries. Let's hope that other firms hold the line on this and make Latham the outcasts they deserve to be.

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43 Posted by guest | Permalink Wednesday, December 17, 2008 2:04 PM

35 - GDC does not suck. They don't give out offers to summers, or even to laterals and lateral partners for that matter who do not mean their strict grade requirements (typically top 5-10% of class or above). This does not make them suck. In fact, it ensures that they allow only the best and brightest attorneys in the firm. This is just one reason why GDC has very high prestige in the legal community.

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44 Posted by guest | Permalink Wednesday, December 17, 2008 2:05 PM

LATHAM IS DONE OMGLOLZ

didn't like everyone on this board say the same thing about csm when they announced bonuses? somehow, i feel like a certain population around here seems to have extremely short memories.

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45 Posted by guest | Permalink Wednesday, December 17, 2008 2:05 PM

39 - could not agree more. as long as you don't bomb, all that matters is that you do a good job over the summer

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46 Posted by guest | Permalink Wednesday, December 17, 2008 2:05 PM

Good move by Gibson Dunn. The disinformation on GDC here is breathtaking. Looks like disgruntled L&W associates invaded the thread. Had L&W been better-run, the firm wouldn't be in the position of having to reduce salaries in the first place.

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47 Posted by guest | Permalink Wednesday, December 17, 2008 2:06 PM

35 - GDC does not suck. They don't give out offers to summers, or even to laterals and lateral partners for that matter who do not mean their strict grade requirements (typically top 5-10% of class or above). This does not make them suck. In fact, it ensures that they allow only the best and brightest attorneys in the firm. This is just one reason why GDC has very high prestige in the legal community.

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48 Posted by guest | Permalink Wednesday, December 17, 2008 2:10 PM

Gibson is no longer in "the Big Three." They are the Big One.

I'm so glad I chose Gibson! Been working here several years and they've never let me down. GDC FTW!

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49 Posted by guest | Permalink Wednesday, December 17, 2008 2:11 PM

Elie: you are now conceding that Cravath is paying "market rate"? Because weeks ago you denounced them as sub-market, even after 10+ firms followed suit, and continued to claim that Skad was the "market". Where was your tipping point? And why was it so ass-backwards?

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50 Posted by guest | Permalink Wednesday, December 17, 2008 2:13 PM

GDC - definitely #1 in LA and top 3 in DC

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51 Posted by guest | Permalink Wednesday, December 17, 2008 2:13 PM

GDC is a great firm. It just isn't as big of an international player as Latham/Skadden/Magic Circle firms. GDC has expanded much slower and has a much smaller footprint, especially in high-end corporate work - which is really looking good for them at the moment.

Latham is seeminly being hurt by its corporate/finance focus and Skadden seems to be doing pretty well through the downturn, but it remains to be seen who will thrive in the medium/long term. The lack of both memory and foresight on this page is hilarious

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52 Posted by guest | Permalink Wednesday, December 17, 2008 2:14 PM

OMM is getting same bonus as last year and no salary freeze.

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53 Posted by guest | Permalink Wednesday, December 17, 2008 2:14 PM

OMM is getting same bonus as last year and no salary freeze.

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54 Posted by guest | Permalink Wednesday, December 17, 2008 2:14 PM

35- If you can't keep your grades up in the second and third year of law school, you are too lazy or stupid to make it at a big firm and they are doing you the favor of letting you know this sooner rather than later

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55 Posted by guest | Permalink Wednesday, December 17, 2008 2:15 PM

49, elie's ass cannot be backwards. he's so big, the best way to think of it is like a Mobius strip.

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56 Posted by guest | Permalink Wednesday, December 17, 2008 2:15 PM

Butt cheeks guy = Asian virgin

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57 Posted by guest | Permalink Wednesday, December 17, 2008 2:16 PM

Butt cheeks guy = Asian virgin

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58 Posted by guest | Permalink Wednesday, December 17, 2008 2:17 PM

54 is the gunneriest gunner that ever gunned.

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59 Posted by guest | Permalink Wednesday, December 17, 2008 2:17 PM

Elie: you are now conceding that Cravath is paying "market rate"? Because weeks ago you denounced them as sub-market, even after 10+ firms followed suit, and continued to claim that Skad was the "market". Where was your tipping point? And why was it so ass-backwards?

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60 Posted by guest | Permalink Wednesday, December 17, 2008 2:18 PM

Again - no food references?
What the hell?
You feeling OK, fatty?

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61 Posted by guest | Permalink Wednesday, December 17, 2008 2:18 PM

OMM DC and CA are getting salary increases and same bonus as last year...what about OMM NY

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62 Posted by guest | Permalink Wednesday, December 17, 2008 2:20 PM

How long are we going to have to listen to posts alternating between whining about firms cutting back excessive bonus pay and whining about layoffs? Granted, blogs have little other use but for bitching and moaning - but at least be consistent. Do you want firms to keep everyone on and pay them buckets of money, or pay buckets of money to fewer people? The rest of the legal journalism world is covering the declining profit margins of law firms and difficulties in collecting from clients - is ATL going to come to grips with the structural issues that are causing these problems, or are we just going to see countless posts for the rest of the recession complaining about drops in marginal income for the top entry level jobs in the legal profession?

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63 Posted by guest | Permalink Wednesday, December 17, 2008 2:21 PM

54 - they only ding you if you go way down. its not for arbitrary fluctuations. also it matters a ton how professional you are over the summer.

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64 Posted by guest | Permalink Wednesday, December 17, 2008 2:22 PM

It's almost like Latham heard a rumor on ATL that firms are going to freeze salaries so they went ahead and did it to try and perpetuate that rumor. I'm willing to bet that by February they are sufficiently screwed that Latham is added to the dissolution watch list.

Kind of like the bailout. If you don't ask for money you might be broke but your stock isn't taking a dive yet, but if you ask for bailout then you are broke, the government will own you and your stock goes down the tube.

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65 Posted by guest | Permalink Wednesday, December 17, 2008 2:23 PM

GDC is a great firm. I don't work there, but I've worked against them on a number of corporate deals. Very competent people and easy to work with. I think a lot of people on this site have no real experience with these firms, which is why you get someone who believes that a no-offer to summers makes a firm a bad place.

And 4 didn't make sense and 40s back-up of 4 is just silly. Obviously we can compare any number of things, but 4 specifically stated that GDC is smaller than Latham and shouldn't be compared to it. That's just silly.

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66 Posted by guest | Permalink Wednesday, December 17, 2008 2:23 PM

OMM NY is having market ("half-Skadden") bonuses, with normal base salary increases

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67 Posted by guest | Permalink Wednesday, December 17, 2008 2:23 PM

Elie,

Just call it "market." That's what it is. "Half-skadden" was funny for a little, but it's well past the time to let it go.

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68 Posted by guest | Permalink Wednesday, December 17, 2008 2:24 PM

The idea that Latham's salary-freeze is going to negatively impact their position in the legal market is ridiculous. First, clients, if they care at all right now, will probably be pleased that the firm shares their pain at the moment is taking realistic approach to controlling costs in a down economy.

Second, this is generally a good thing for L&W partners, so I don't see why they are going to be negatively influenced by the salary-freeze.

Third, Latham is and will be for the foreseeable future, one of the top shops in many areas, all of which will come back, at least to a large extent. Despite all of this GDC talk, at least in LA, Latham's tax, environmental/land use/real estate, corporate and finance practices are all better than GDC. GDC probably has an edge in litigation. Congrats. Although corporate and finance are slow right now, they will not be so for much longer than another year or 18 months max (unless you think we are all headed for our survival shelters and are going to be eating eachother in 2011).

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69 Posted by guest | Permalink Wednesday, December 17, 2008 2:25 PM

"OMM DC and CA are getting salary increases and same bonus as last year" -- what is the source of this info?

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70 Posted by guest | Permalink Wednesday, December 17, 2008 2:27 PM

68, if firms like OMM are going ahead with salary increases, Latham is certainly going to be negatively impacted. Thinking otherwise is naive and shows little understanding of why the legal market pays the way it does.

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71 Posted by guest | Permalink Wednesday, December 17, 2008 2:28 PM

69 - if you work at OMM, check your voicemail; otherwise, just take my word for it

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72 Posted by guest | Permalink Wednesday, December 17, 2008 2:28 PM

45 -- FIRST OFF, scan their bios. plenty of non-cum laudes and non-order of cof, so it's NOT top 10%. most people who were top 10% can get better firms than gdc anyway. they're selective, but let's not make them out to be wachtell or williams&connolly or even covington! they're a notch below in selectivity. no need to exaggerate.

second, that's a huge issue. that would SUCK to be top 15-20%, get hired as a 2L, get a couple B+s as a 2L, and then not get an offer, even if you work hard during the summer. there are MANY lawyers who slipped a bit in gpa as a 2l/3l!

gotta agree w/ 32 and 37. their recruiting folks are known to be jerks. one guy at my school was invited to a dinner after the OCI interview (they only invited a few) but couldn't make it b/c of other plans. no call back! apparently he offended them by not going to their damn dinner.

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73 Posted by guest | Permalink Wednesday, December 17, 2008 2:29 PM

69 - if you work for OMM, check your voicemail and be prepared to be pleasantly surprised; if you dont' work there, don't worry about it

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74 Posted by guest | Permalink Wednesday, December 17, 2008 2:29 PM

"will probably be pleased that the firm shares their pain at the moment is taking realistic approach to controlling costs in a down economy"

LOL if you think they're freezing billing rates. ass.

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75 Posted by guest | Permalink Wednesday, December 17, 2008 2:30 PM

(rolls eyes as GDC gunners spaz out)

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76 Posted by guest | Permalink Wednesday, December 17, 2008 2:31 PM

62, stop trying to program things your way. This is a blog, you idiot. If you want hardcore legal news, change the channel and STFU.

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77 Posted by guest | Permalink Wednesday, December 17, 2008 2:31 PM

67 - Yeah the "half Skadden" IS market at this point, but thats also the name that "market" is known by this year.

I think jsut saying "market" instead of "half Skadden" would be confusing in some contexts.

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78 Posted by guest | Permalink Wednesday, December 17, 2008 2:31 PM

68- unless L&W is planning on billing out 4th years at 3rd year billing rates then clients will not see a dime. all that Latham partners are doing is pissing off the people they rely on.

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79 Posted by guest | Permalink Wednesday, December 17, 2008 2:31 PM

45 - They recruit from non-T14 schools in certain cases. Not everyone is #1 in the class. They also recruit deep into the class from certain schools and "like" certain schools even though they are not T-14.

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80 Posted by guest | Permalink Wednesday, December 17, 2008 2:33 PM

Elie,

Help me out here. How did Gibson distinguish itself from Latham (see headline to post), I can't really discern from the text of your post. Maybe it's me, but I'm just sayin'. I'm missing the distinction, I just see a lot of non-information.

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81 Posted by guest | Permalink Wednesday, December 17, 2008 2:34 PM

Speaking as a 3L who received 3 rejection letters from Skadden in two years, I still think "half-Skadden" is a good term. Give some credit, and hope others eventually decide they want to follow.

One can only dream...

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82 Posted by guest | Permalink Wednesday, December 17, 2008 2:36 PM

The no offer for grade drop thing doesn't seem to be supported by NALP statistics:

# 2007 Summer 2Ls considered for associate offers: 122
# offers made: 120

If the "grade drop" theory is correct, then only 2 people out of 122 had 2L grade drops? Yeah, right.

From my experience, almost every summer at GDC gets an offer unless you do something really stupid during the summer.

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83 Posted by guest | Permalink Wednesday, December 17, 2008 2:39 PM

So are LW stub first years going to get the same pay rate as first years moving up to second year in January, e.g. 160 for class of 2008 and class of 2007 as well?

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84 Posted by guest | Permalink Wednesday, December 17, 2008 2:40 PM

ELLIE, SPREAD THE BUTT CHEEKS SO @56 CAN SMELL THE JUICY INSIDES!

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85 Posted by guest | Permalink Wednesday, December 17, 2008 2:40 PM

Behold my infalible silogism:

Gibson is a cool guitar brand.
Dunn is a good veteran RB.
I just don't see how they would mesh well together
Gibson Dunn sucks

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86 Posted by guest | Permalink Wednesday, December 17, 2008 2:41 PM

68 -- I hope your prestige keeps you warm at night. I'd rather have my $25K. Who gives a crap if Latham's better in x, than GDC. First of all, the difference is marginal, and probably would not impact the work any associate would be asked to do. Second, it is irrelevant to most associates, since Latham won't be hiring in most of its historically strong practice areas for a while and will probably have to shed associates in those areas. Finally, any partner or client who is happy about Latham cutting salaries, is really being short-sighted. Ultimately, this will impact the quality of associates Latham can hire and retain. Lowering salaries certainly does not make Latham a more attractive place to work, right?

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87 Posted by guest | Permalink Wednesday, December 17, 2008 2:42 PM

GO TO GDC'S WEBPAGE -- SEARCH UNDER WASH DC OFFICE -- LITIGATION PRACTICE. read the first 4 or 5 bios. does this strike you as uber-selective?

it's idiotic to focus so much on class rank/gpa without controlling for school -- i'll take someone in the top 50% at the top 6 than the #1 grad from gulc or george mason.

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88 Posted by guest | Permalink Wednesday, December 17, 2008 2:42 PM

82 - ever hear of a cold or soft offer?

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89 Posted by guest | Permalink Wednesday, December 17, 2008 2:42 PM

GDC places a TON of emphasis on recruiting 2Ls that they like during the fall. They don't bring these people in during the summer only to nix them for grade drop-offs.

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90 Posted by guest | Permalink Wednesday, December 17, 2008 2:44 PM

"second, that's a huge issue. that would SUCK to be top 15-20%, get hired as a 2L, get a couple B+s as a 2L, and then not get an offer, even if you work hard during the summer. there are MANY lawyers who slipped a bit in gpa as a 2l/3l!"

My grades slipped a bit (3.71 1L, 3.64 2L), but I still got an offer. I imagine if this were even true, your grades would have to fall a lot, as most people with top GPAs see some grade slippage.

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91 Posted by guest | Permalink Wednesday, December 17, 2008 2:48 PM

44 -- latham aint no cravath.

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92 Posted by guest | Permalink Wednesday, December 17, 2008 2:49 PM

89 -- ok, so gdc won't no-offer 2Ls, but THEY WILL no-offer laterals with $6mm books??? how retarded is that? read the article on law.com or NLJ or some crap -- the lateral hire story is true.

gdc seems to think that typing 90 wpm on your 2L exam at UConn Law is >> than the HLS grad ranked in the top 40%.

88 -- good call.

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93 Posted by guest | Permalink Wednesday, December 17, 2008 2:50 PM

poopin in a hat, not a bag

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94 Posted by guest | Permalink Wednesday, December 17, 2008 2:50 PM

90 - you had a 3.71 and only got GDC? I sincerely hope you are at a TTT.

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95 Posted by guest | Permalink Wednesday, December 17, 2008 2:52 PM

GDC places a TON of emphasis on recruiting 2Ls that they like during the fall. They don't bring these people in during the summer only to nix them for grade drop-offs.

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96 Posted by guest | Permalink Wednesday, December 17, 2008 2:52 PM

90 -- touche. but what if you're at the bottom of their "cutoff" and then slip a little?

so basically anyone who's at the bottom of their cutoff is taking a huge risk -- b/c no offer if they slip as a 2L. hell, if they slip as a 2L, they might as well not even show up for the summer! a cutoff is a cutoff, right?

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97 Posted by guest | Permalink Wednesday, December 17, 2008 2:53 PM

94, who says I only got GDC?

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98 Posted by guest | Permalink Wednesday, December 17, 2008 2:53 PM

This thread confirms my belief that working at BigLaw in LA is less than a fully satisfying experience.

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99 Posted by guest | Permalink Wednesday, December 17, 2008 2:54 PM

"89 -- ok, so gdc won't no-offer 2Ls, but THEY WILL no-offer laterals with $6mm books??? how retarded is that? read the article on law.com or NLJ or some crap -- the lateral hire story is true."

They specifically say they'll do that if they think the potential lateral is kind of an asshole.

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100 Posted by guest | Permalink Wednesday, December 17, 2008 2:56 PM

Lets say the cutoff is a 3.6 and you had a 3.61 as a 1L and then wind up with a 3.5 as a 2L.

In that situation I'd say you're screwed.

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101 Posted by guest | Permalink Wednesday, December 17, 2008 2:58 PM

92 -- GDC also places a lot of emphasis on personality in its hiring process, even for laterals. That's part of why it's such a great place to work.

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102 Posted by guest | Permalink Wednesday, December 17, 2008 2:59 PM

96, unless you actually have some proof of people being dinged for slipping "a bit," you're just being a presumptuous moron.

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103 Posted by guest | Permalink Wednesday, December 17, 2008 2:59 PM

99 -- the article said it was b/c of GPA!

is there a GPA cutoff or not? does it apply to OCI, after 2L summers, laterals, everybody?

If Marty Lipton was below their cutoff, no offer from gdc? That's the gist of the article.

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104 Posted by guest | Permalink Wednesday, December 17, 2008 3:01 PM

I know a couple of grade A doucebags that work at GDC in the bay area. Not good lawers either, just slippery douchebags.

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105 Posted by guest | Permalink Wednesday, December 17, 2008 3:02 PM

100 - no way they would cut you for that

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106 Posted by guest | Permalink Wednesday, December 17, 2008 3:04 PM

Just to clarify, at least in my GDC office for the last 3 years everyone has gotten an offer and I am guessing at least one or two's grades dropped. If someone's friend got no offered, they probably were doing something else wrong.

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107 Posted by guest | Permalink Wednesday, December 17, 2008 3:04 PM

Good move by Gibson Dunn. The disinformation on GDC here is breathtaking. Looks like disgruntled L&W associates invaded the thread. Had L&W been better-run, the firm wouldn't be in the position of having to reduce salaries in the first place.

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108 Posted by guest | Permalink Wednesday, December 17, 2008 3:04 PM

I summered at GDC last summer in two offices and know of only 1 person who did not receive an offer. It had nothing to do with grades.

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109 Posted by guest | Permalink Wednesday, December 17, 2008 3:08 PM

Latham's biggest and most important offices are NY and LA. But they are basically second tier in NY, now more than ever with the salary freeze, but it has been that way for some time. They were always top in LA along with Gibson Dunn. Now Gibson is going to crush Latham in recruiting for top law students and lateral associates.

I really think Latham has made a big mistake here. Perhaps they expect this downturn to be long and severe, which means other firms will eventually follow their lead. But the last time they tried to force the market downwards - when they cut their bar stipend earlier this decade - other firms didn't follow and they angered their associates and hurt recruiting. Perhaps this recession will be worse and other firms will be forced to make cuts. Or perhaps Gibson and other firms' partners will accept a little less for themselves to get top talent and maintain morale.

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110 Posted by guest | Permalink Wednesday, December 17, 2008 3:08 PM

100 -- i know, and that sucks! as if those B+s that dragged down your gpa as a 2L makes you a worse lawyer!

so freakin gdc would no-offer that candidate you mention (who, say, was also on law review, had great personality, good work experience, good work product, and went to HLS). BUT they would give an offer to the guy from GULC who was mediocre in every other respect but kept up his gpa?

do they control for courses taken as a 2L? what if my gpa drops b/c i took conflict of laws, federal courts, derivatives law, and secured transactions? meanwhile, the guy from gulc took "law of human rights" and other crap.

face it -- that gpa cut off is retarded and very simplistic.

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111 Posted by guest | Permalink Wednesday, December 17, 2008 3:12 PM

33 - GDC considered Latham's announcement yesterday before beginning reviews, and decided to go forward with salary increases anyway. I agree that it would be a different ballgame if a salary freeze became widespread (in other news, the sky is blue), but there is no indication that is happening. Gibson has been extremely busy this year, and I'll bet Latham continues to remain an outlier (and, by the way, is forced to give salary increases, retro to Jan. 1, in the end).

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112 Posted by guest | Permalink Wednesday, December 17, 2008 3:18 PM

110, you're right, what you describe does suck. But I haven't heard of that happening to anyone. The GPA cut-off is for call-backs, not full-time offers. And you suck at concern trolling.

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113 Posted by guest | Permalink Wednesday, December 17, 2008 3:31 PM

112-- again, why does the gpa cutoff not apply to 2L summers but it DOES apply to laterals w/ $7mm in business?

From the article:

One attorney, 47, who recently interviewed to join Gibson, Dunn's New York office "had more than $7 million in highly portable business," says a legal recruiter who asked to remain unnamed. "They turned him down because of his grades in law school." Other headhunters had similar stories. "They've done this for years," says recruiter Renée Berliner Rush. "If a partner's transcript doesn't meet their cut-off, they will not bring them aboard."

is this the most retarded policy ever?

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114 Posted by guest | Permalink Wednesday, December 17, 2008 3:32 PM

the people making these ridiculous comments about cutoffs are not GDC people. All the GDC know this is not true

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115 Posted by guest | Permalink Wednesday, December 17, 2008 3:33 PM

112-- again, why does the gpa cutoff not apply to 2L summers but it DOES apply to laterals w/ $7mm in business?

From the article:

One attorney, 47, who recently interviewed to join Gibson, Dunn's New York office "had more than $7 million in highly portable business," says a legal recruiter who asked to remain unnamed. "They turned him down because of his grades in law school." Other headhunters had similar stories. "They've done this for years," says recruiter Renée Berliner Rush. "If a partner's transcript doesn't meet their cut-off, they will not bring them aboard."

is this the most retarded policy ever?

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116 Posted by guest | Permalink Wednesday, December 17, 2008 3:46 PM

113, how should I know? why does it matter to you or me? GDC is pretty profitable, I'll defer to their system for lateral partner hiring.

And I like how you said "again," even though this whole time you've assumed 2L summers have a grade cut-off despite absolutely no evidence of it.

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117 Posted by guest | Permalink Wednesday, December 17, 2008 3:49 PM

GDC, you, you complete me... and...

Shut up, just shut up. You had me at "hello." You had me at "hello."

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118 Posted by guest | Permalink Wednesday, December 17, 2008 3:56 PM

This thread confirms my belief that working at BigLaw in LA is less than a fully satisfying experience.

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119 Posted by guest | Permalink Wednesday, December 17, 2008 4:03 PM

How did this post get hijacked by law school students? STFU about your stupid offers.

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120 Posted by guest | Permalink Wednesday, December 17, 2008 4:24 PM

"How did this post get hijacked by law school students? STFU about your stupid offers."

no.

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121 Posted by guest | Permalink Wednesday, December 17, 2008 4:57 PM

Btw. The grade cut-offs at GDC are school specific. So if you go to HLS, the grade cut-off is much lower as opposed to GW, etc.

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122 Posted by guest | Permalink Wednesday, December 17, 2008 5:00 PM

Btw. The grade cut-offs at GDC are school specific. So if you go to HLS, the grade cut-off is much lower as opposed to GW, etc.

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123 Posted by guest | Permalink Wednesday, December 17, 2008 5:39 PM

75 - Oh yeah that's right you can tell someone's grades just by looking at their bio. Clearly you graduated at the top of your class.

Just FYI cum laude at many schools IS top 10%. At my school only #1 in the class was summa. I was in the top 5 people in my class out of over 300 and I only graduated magna. Cum laude doesn't always mean below top 10%.

And 122 is right that the cut-offs are school specific. But the restrictions are indeed elite and real. Like it or not.

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124 Posted by guest | Permalink Wednesday, December 17, 2008 5:47 PM

123 validates his existence by bragging anonymously in blog comments.

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125 Posted by guest | Permalink Wednesday, December 17, 2008 7:35 PM

GDC = rejects of:

wachtell, s&c, dpw, williamsconnolly, covington, cravath, cleary, and munger.

gpa cutoffs are weird. you can make yourself "elite" with arbitrary cutoffs. for example:

gdc would hire the gulc student w/ a 3.6, Florida State ugrad but would REJECT the 3.59 gulc student, harvard undergrad, and worked his way through college. ALL b/c the first guy typed faster on his torts exam. brilliant policy.

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126 Posted by guest | Permalink Wednesday, December 17, 2008 7:41 PM

this grade cut-off talk is nonsense. Maybe for lower-ranked schools, but I can guarantee that a sub-3.5 GPA from a T6 school can get you an offer.

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127 Posted by guest | Permalink Wednesday, December 17, 2008 7:55 PM

Legend has it that the EIC of HLS Law Review got an A- instead of all As his 2L year and then GIbson dinged him after a summer of flawless work.

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128 Posted by guest | Permalink Wednesday, December 17, 2008 8:22 PM

125 -- You're an idiot. I know the GULC cut-off, and that's not it. Moreover, the cut-off for a florida state grad (is there a florida state law school?) would be MUCH higher than 3.6. And GDC doesn't recruit there even if such a school does exist.

Only your system is stupid. See?

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129 Posted by guest | Permalink Wednesday, December 17, 2008 8:35 PM

128 - 125 said GULC with FSU Undergrad. Did you get an offer at GDC with those reading comp skills? I would expect that out of a below-market Latham attorney but not a Half-Skadden GDC'er.

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130 Posted by guest | Permalink Wednesday, December 17, 2008 8:44 PM

Here's the deal, folks, as it was explained to the GDC summers:

(1) Once you're in, you're in. So, if you summer there and get an offer, you're good.

(2) Obviously, at GDC as at all firms, there's an expectation that you will not do poorly the final two years of law school.

(3) We could sit around all day and debate what "poorly" means, but really I think you just need to do respectably to maintain your offer.

(4) In sum, there's a high bar for getting in in the first place, but once you're there, your grades matter less. Hardly rocket science. Cue comments about how GDC is far less "presTTTigious" than X, Y, Z LLP. I guarantee you GDC'ers don't care; for the people who choose the firm, it's a healthy mix of interesting work, atmosphere, hours, and prestige. If the latter is all you care about, you probably went to Cravath anyway.

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131 Posted by guest | Permalink Wednesday, December 17, 2008 8:44 PM

Here's the deal, folks, as it was explained to the GDC summers:

(1) Once you're in, you're in. So, if you summer there and get an offer, you're good.

(2) Obviously, at GDC as at all firms, there's an expectation that you will not do poorly the final two years of law school.

(3) We could sit around all day and debate what "poorly" means, but really I think you just need to do respectably to maintain your offer.

(4) In sum, there's a high bar for getting in in the first place, but once you're there, your grades matter less. Hardly rocket science. Cue comments about how GDC is far less "presTTTigious" than X, Y, Z LLP. I guarantee you GDC'ers don't care; for the people who choose the firm, it's a healthy mix of interesting work, atmosphere, hours, and prestige. If the latter is all you care about, you probably went to Cravath anyway.

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132 Posted by guest | Permalink Wednesday, December 17, 2008 8:48 PM

125's example was stupid regardless.

(a) he doesn't have the cut-off for GULC right; and (b) no one cares if you went to Harvard undergrad.

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133 Posted by guest | Permalink Wednesday, December 17, 2008 10:40 PM

GDC is a good firm, but I agree with a couple of the posters who said their recruiting team sucks. Theirs was the only time I ever walked away from an interview during OCI.

For everybody predicting doom and gloom for L&W, we shall see. Latham is pretty heavily invested in some hard-hit areas like leveraged finance and structured securities, and so is likely to be taking a big hit. But if no other firms cut salaries but then end up making big layoffs later in the year when their cost structure becomes unviable, who ends up looking worse? I for one would trade a small raise right now for some added job security.

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134 Posted by guest | Permalink Wednesday, December 17, 2008 11:46 PM

If you summered at GDC and got an offer, anything short of failing all your classes will mean you keep your offer. Anyone who claims otherwise is wrong.

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135 Posted by guest | Permalink Thursday, December 18, 2008 1:33 AM

FYI - some of us chose a GDC offer over S&C, Skadden, and Covington. Clearly idiots...who enjoy their lives.

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136 Posted by guest | Permalink Thursday, December 18, 2008 1:54 AM

135 posts about the firm, and no one even flames "layoffs everywhere, ohnoes"? Is GDC not laying anyone off? If so, then verily GIbson is SWeet.

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137 Posted by guest | Permalink Thursday, December 18, 2008 2:56 AM

GDC = V8 rejects? Right...

When I interviewed in the DC office, I met with 7 former circuit court clerks and two former SCOTUS clerks. The 8th interview was with a former Assistant U.S. Attorney in NY. They all went to T10 schools and most graduted Order of the Coif.

You're right - I'm sure Half-Skadden wouldn't touch those douchebags ...

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138 Posted by guest | Permalink Thursday, December 18, 2008 4:03 AM

The Gibson grade cutoff varies from office location to location. It is extremely difficult to get an offer from GDC DC, very difficult to get an offer from GDC SF, and less difficult to do so in LA and NY (i.e., top 1/3 at a T6 is extremely competitive for an offer). However, I'm not sure this is atypical; this seems to mirror the selectivity of each market. In general, the vast majority of associates at top DC and SF firms could have gone to a V10 in NY if they wanted.

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139 Posted by guest | Permalink Thursday, December 18, 2008 7:52 AM

summered at GDC NY this past summer. it was awesome. i got an offer. they haven't asked to see my grades since OCI after 1L year. all-around great place.

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140 Posted by guest | Permalink Thursday, December 18, 2008 9:50 AM

Hardly any firms audit 2L or 3L grades. I've heard Skadden NY makes SAs sign release forms for their 2L grades, but I've heard nothing of the sort regarding Gibson NY or any other NY firm for that matter. Barring a bunch of B-'s or worse, no one cares about 2L/3L grades, and you have to be practically retarded to get a bunch of B-'s. At that point, you deserve your cold offer.

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141 Posted by guest | Permalink Thursday, December 18, 2008 10:44 PM

GDC usually doesn't even look at summer associates' grades before making offers. Most of you have no idea what you are talking about. Besides, this issue is way off topic.

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142 Posted by guest | Permalink Saturday, December 20, 2008 11:08 AM

GDC gave their staff the same bonus as last year and only a 1.1% raise. They havve always been prudent of the times. Financially they are doing fine, but are just being cautious. During the big .com fiasco, they did not play in that market. While other firms broke off into that market, GDC remained the same. That's why you never read about massive lay-offs. GDC has the best lawyers and WAS a great place to work for, but they work their paralegals to death. Reason why I left. If you have to stay until 2-3 in the morning-they don't care. The project must get done. Making better money at smaller firm, less hours.

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143 Posted by guest | Permalink Sunday, December 21, 2008 11:25 PM

I'm a 2L at a T6 and got a summer offer from GDC with a 3.3 GPA. From what I gathered during the interview process, it's more about personality than grades.

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144 Posted by guest | Permalink Monday, December 22, 2008 9:22 AM

At some point, deciding which firm in the V20 comes down to personality fit. I had an offer at a much more selective firm, but went with GDC because I liked the office and the people. Complete prestige whores are a little sad, and I'm not sure how you can feel more "prestigious" than me when we both got the same offer...

"their recruiting folks are known to be jerks. one guy at my school was invited to a dinner after the OCI interview (they only invited a few) but couldn't make it b/c of other plans. no call back! apparently he offended them by not going to their damn dinner."

Sometimes firms invite people they're sure about, and a few people they're not sure about to the dinner. Sometimes they use the dinner to gauge your actual interest/social skills/spouse's social skills. They're not jerks; your friend is just dumb and should have gone to the dinner.

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145 Posted by guest | Permalink Friday, January 2, 2009 8:14 PM

Same story as 144. Picked GDC b/c I could see myself spending 20 hours at a time with those people and only wanting to kill myself instead of myself AND everyone else. Couldn't say the same for my offers at S&C, etc.

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