In this economy, in the “new normal,” the most prestigious firm is the one that has given you a job offer. Sure, there are still students and grads who are lucky enough to be juggling multiple job offers from major firms in multiple cities. And to those people we say, “OMG, I hate you, shut up and go away.”
For those experiencing an embarrassment of job offer riches, here are the Vault rankings. Yay. Take a look at them, by yourself, under the covers, where nobody else can see that you have options….
The new Vault list is substantially similar to the old Vault list; number one, once again, is Wachtell Lipton Rosen & Katz & Awesome. No drama at Wachtell, people are working too hard to generate much drama I guess.
Cravath is in the second spot, but Vault blogger Rachel Marx Boufford says the firm is gaining:
To create the Vault Law 100, we ask associates to score law firms on a scale of 1 to 10 based on how prestigious it is to work for the firm (associates are asked to ignore any firm with which they are unfamiliar and are not allowed to rank their own firm). We then average the score for each firm and rank the firms in order. This year, Wachtell’s score was an impressive 9.083, but Cravath was not far behind at 8.996—the smallest difference in score since 2009.
I’m not sure what that means, but I think it’s something like, “Cravath will once again decide how big of a bonus you get this fall.”
Here’s the rest of the Vault top 15:
You can see the full rankings here.
Boies Schiller continues its march up the rankings, clocking in at number 15 this year. Quinn Emanuel is also up once again this year, to number 17. The power of litigation powerhouses compels you.
Back near the top, S&C and Skadden do their periodic flip-flop. The Vault rankings were obviously finalized before Weil’s shocking layoff news yesterday, but historically the Vault rankings have been relatively immune to layoff concerns. Prestige evidently means offering you the job in the first place, not firing you from it later down the road.
We’ll revisit these rankings come bonus season. Most likely, Wachtell will do its own thing, and then a lot of people will follow Cravath, until Boies and Quinn do something to push the envelope.