Cravath system

Partnership at Cravath: Biglaw’s ultimate brass ring.

Working at Cravath, Swaine & Moore offers many advantages. The work is interesting and cutting-edge. The exit opportunities are unmatched. The pay and prestige are great (even though, as we’ve repeatedly emphasized, Biglaw isn’t all about the benjamins).

One of the distinctive features of Cravath is the “Cravath system,” in which associates work closely with a particular partner (or small group of partners) before rotating into another area to work with a different partner. This system produces well-rounded and well-trained lawyers. According to the results of our associate survey — please take it if you haven’t already done so — Cravath is the #1 firm for training corporate lawyers and the #2 firm for training litigators.

Of course, Cravath has its downsides; the firm is not for everyone. The hours are long, even by Biglaw standards. The atmosphere is intense; it’s not a laid-back sort of place. And historically partnership prospects haven’t been great, due to the sheer selectivity of the CSM partnership.

But are partnership prospects improving? For the third year in a row, Cravath has named a large number of new partners. How many of them are there? Might you know some of them?

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Time to start practicing the Cravath walk? (Google it if you’re not familiar.)

In an excellent essay reflecting on his time at Cravath, lawyer turned author James B. Stewart had this to say about the associates who made partner: “They weren’t necessarily the brightest…. They weren’t, as I had expected, the hardest-working…. They weren’t the most personable…. Finally it came to me: The one thing nearly all the partners had in common was they loved their work.”

Move over, Virginia. Cravath is for lovers — of work.

The firm just named its latest class of lovers. How many new partners did CSM just make, and what might this suggest about the firm’s market-setting bonuses?

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Greetings from San Francisco, home of the world champion Giants, surprisingly noisy trolley cars, and the faint smell of cannabis pretty much everywhere. We’re in town to attend Ark Group‘s conference on “The Brave New World of Entry-Level Recruiting,” which examines how the world of law student recruiting by firms has changed (and will continue to evolve) since the onset of the Great Recession. Moderated by Bruce MacEwen, who kicked off the proceedings by framing the day as an opportunity for “frank conversation” between schools and firms, the conference featured an absolute Murderers’ Row of industry thought leaders, including Orrick‘s Ralph Baxter, legal academia’s apostate Paul Campos, NALP’s Jim Leipold, Indiana/Maurer‘s Bill Henderson, three Biglaw hiring partners, and deans from Berkeley, Stanford, and Hastings.

Read on for some highlights and takeaways from yesterday’s conference.

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