Biglaw

Quinn Emanuel Urquhart Oliver Hedges Manulife Tower 865 S Figueroa St Above the Law blog.jpgWe’re pressing on with our series of open threads on Vault 100 law firms. We know that some of you are eager to discuss firms ranked in the 70′s, and we don’t want to disappoint you.
And a quick word from one of our sponsors, ATL’s Career Partner, Lateral Link:

“Lateral Link provides free access to the Vault firm information/career guides. Readers can get free access to the full information on our site as part of our career center.”

Without further ado, here are the five firms for this afternoon (in Vault 100 order, prestige scores in parentheses):

41. King & Spalding LLP (6.183)
42. Morgan, Lewis & Bockius LLP (6.099)
43. Quinn Emanuel Urquhart Oliver & Hedges LLP (6.080)
44. Baker & McKenzie (6.079)
45. Baker Botts LLP (6.061)

Please discuss them in the comments. Thanks.
The Vault Top 100 Law Firms [Vault]
Earlier: Vault 1-5; Vault 6-10; Vault 11-15; Vault 16-20; Vault 21-25; Vault 26-30; Vault 31-35; Vault 36-40

you already peaked Above the Law blog.gifA few weeks ago, we were getting bombarded with rumors of supposedly imminent New York pay raises. Davis Polk to $180K! Simpson Thacher to $190K! The gossip was running rampant.
But in the last two weeks or so, with all of the turmoil in the stock market and tightening in the credit market, pay raise rumors have died. And now we’re hearing very different things. Like this:

[Y]ou are missing one of the bigger stories of the past week or two: to a large degree, the corporate departments of many of the major NY law firms have basically come to a halt. Plenty of people have nothing to do – at all.

At my firm, in the top 5 of the Am Law 100 rankings, things have gotten really slow. So far, few think it will be a long term problem, but people are beginning to wonder.

Why is this so big? If the corporate departments of these firms go downhill, everybody can kiss their pay raise to $190,000 goodbye. Will we go from 190 rumors to lay-off rumors?

That, dear friends, is the $160,000 question. More after the jump.

double red triangle arrows Continue reading “Nationwide Pay Raise Watch: NYC to 190 Associate Layoffs?”

Taj Mahal India outsourcing Dell computers document review Above the Law blog.jpgMultiple readers sent us this article, from Bloomberg News:

Bruce Masterson, chief operating officer of Socrates Media LLC, asked his outside counsel to customize a residential lease for all 50 U.S. states in 2003. The firm’s estimate: about $400,000. He rejected that price tag and hired QuisLex, in Hyderabad, India, which did it for $45,000.

“It was good quality,” said Masterson, whose Chicago-based company publishes legal forms on the Internet. “We’ve been working together ever since.”

Clients are pushing law firms like Jones Day and Kirkland & Ellis to send basic legal tasks to India, where lawyers tag documents and investigate takeover targets for as little as $20 an hour. The firms are reacting to a trend that will move about 50,000 U.S. legal jobs overseas by 2015, according to Boston- based Forrester Research Inc.

Biglaw partners may soon be telling associates: “If you don’t think $160,000 is enough to review documents for 2200 hours a year, fine. We’ll just ship your job off to India, where ‘Biff’ and ‘Jenny’ will be happy to be document drones — for under $9,000 a year. And if I have a problem with my laptop, they can help me with that too!”
Jones Day, Kirkland Send Work to India to Cut Costs [Bloomberg News]

Orrick Building 405 Howard Street San Francisco Above the Law blog.jpgHere are this morning’s firms (in Vault 100 order, prestige scores in parentheses):

36. Wilson Sonsini Goodrich & Rosati (6.308)
37. Linklaters (6.301)
38. Orrick Herrington & Sutcliffe (6.244)
39. Freshfields Bruckhaus Deringer LLP (6.204)
40. Proskauer Rose LLP (6.195)

You’ll note that one of these firms is Linklaters, which we recently wrote about. We reprint two emails from Linklaters sources, taking issue with our prior coverage, after the jump.
The Vault Top 100 Law Firms [Vault]
Earlier: Vault 1-5; Vault 6-10; Vault 11-15; Vault 16-20; Vault 21-25; Vault 26-30; Vault 31-35

double red triangle arrows Continue reading “Fall Recruiting Open Thread: Vault 36-40″

Paul Hastings Tower 2 Abovethelaw Above the Law blog.JPGWe’ve now covered over a third of the Vault 100 law firms in open threads. But that means we still have two-thirds to go (assuming we follow through to the end).
The next five firms are colorful. They include one firm that was featured in the Transformers movie, and another that used to employ a high-priced escort.
For your consideration (in Vault 100 order, prestige scores in parentheses):

31. Paul, Hastings, Janofsky & Walker (6.545)
32. Willkie Farr & Gallagher LLP (6.352)
33. Akin Gump Strauss Hauer & Feld LLP (6.343)
34. Winston & Strawn LLP (6.316)
35. Dewey Ballantine LLP (6.313)

Please gossip away in the comments. Thanks.
The Vault Top 100 Law Firms [Vault]
Earlier: Vault 1-5; Vault 6-10; Vault 11-15; Vault 16-20; Vault 21-25; Vault 26-30

Clifford Chance LLP Abovethelaw Above the Law blog.jpgSadly, we’ll probably never learn whether former Clifford Chance partner Michael Bryceland was asked to “bend over” (a la Aaron Charney). Unlike Sullivan & Cromwell, CC settled the case quietly, for an undisclosed amount.
Of course, if you have any details, please feel free to send them to us by email (subject line: “Clifford Chance”). Thanks.
Revealed: CC pays out in sexual orientation claim [TheLawyer.com]

X Men small X Summers X Summer Associates Abovethelaw Above the Law blog.jpgCan you wear white after Labor Day? Or drink a gin and tonic? Or tell a summer associate story?
August is almost over, and our series of SA stories is winding to a close. If you have an anecdote to share, please review our submission guidelines, and then email us.
1. Superhero name: Loose Lips
2. Special power(s): Ability to broadcast his sexual misadventures from coast to coast — in the pre-internet age.
3. Summered: A Los Angeles Biglaw firm, summer 1988. (As we’ve said before, we’re happy to post old stories; this is a “greatest hits” compilation.)
4. Claim to fame: From our tipster:

“Two summers from top-10 east coast schools, one female, one male, were working at the main office of an LA Biglaw firm. The firm had just installed an elaborate door-locking system. When the office door was locked, a red ‘Do Not Disturb’ light appeared outside the office. An unlocked office, door closed or open, had a green light.”

“Late in the day, after the support staff had left, these two associates slipped into the office of one of them. (They had private or semi-private offices.) After they closed (but didn’t lock) the door, the female associate began pleasuring the male associate.”

“A senior associate, seeing the green light, walked into the office — and got an eyeful.”

Learn the fate of our star-crossed lovers hook-up participants, after the jump.

double red triangle arrows Continue reading “X-Summers: Loose Lips Sink Ships Offers”

happy hour law firm happy hour Above the Law blog.jpgMany of the hours that Biglaw attorneys are familiar with are of the billable (and unhappy) variety. But some firms try to make up for the misery by plying their employees with alcohol. Welcome to the latest perk to be discussed in these pages: happy hours. [FN1]
A few questions, from an associate-to-be:

This fall I’ll be starting at a firm that advertises the fact that it has regular happy hours. Do these things actually occur? Does anyone go to them? Will I look like a boring schmo if I don’t attend?

We know of a number of firms that have happy hours (although we’re missing some of the specifics). For example, Cahill Gordon in New York is said to have monthly happy hours. Here in Washington, DC, Kirkland & Ellis has happy hours at Old Ebbitt Grill. At least during the summer, Arnold & Porter has a weekly happy hour each Friday, on the premises — they have an on-site bar set up in one of their conference or reception rooms.
Does your firm sponsor a “happy hour”-type gathering? Will this associate “look like a boring schmo” if he skips out on them? Please opine in the comments.
[FN1] We previously had an open thread about firm retreats and “other company-sponsored social events,” but in the ensuing discussion, only one comment mentioned happy hours.

Morrison Foerster 425 Market Street San Francisco Above the Law blog.jpgOkay, folks, you know what to do. Here are the next five law firms up for discussion (in Vault 100 order, with prestige scores in parentheses):

21. Arnold & Porter LLP (7.012)
22. Jones Day (6.932)
23. Morrison & Foerster LLP (6.898)
24. Milbank, Tweed, Hadley & McCloy (6.752)
25. Clifford Chance LLP (6.747)

The virgin territory of the comments is yearning for your touch.
The Vault Top 100 Law Firms [Vault]
Earlier: Vault 1-5; Vault 6-10; Vault 11-15; Vault 16-20

Linklaters LLP Magic Circle Above the Law blog.jpgIt’s fall recruiting season, and rumors are flying about every law firm under the sun. Here’s something from the ATL mailbag about Linklaters:

I’m going through [the on-campus interview program at my law school] and each day I kept hearing the same thing. Apparently Linklaters’s summer associates had such a terrible time the last few months that many of them have not yet accepted their offers.

Despite the salary, they are going through EIW hoping to get hired by someone else, because they
hated being at Link. Can you confirm this?

We hadn’t heard about this. We do know that morale in the Stockholm office of Linklaters is pretty high (in an “I’ll have what he’s having” kind of way).
Anyway, we contacted the firm for comment. Josh Berick, Co-Hiring Partner in New York, had this to say:

In 2007, Linklaters had its largest and strongest summer associate class ever. The firm is thriving, and many of our summer associates have been able to work on some of the largest cross-border transactions of the year.

It is anticipated that all of our summer associates will receive offers to join us, once the program is concluded. Linklaters traditionally has had a very high acceptance rate, and we are confident that the vast majority of our 2007 summer associates will accept their offers.

As always, we welcome any tips by email (subject line: “Linklaters”). Thanks.

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