Cravath

Easiest Way to Get into the NYT Wedding Section? Be an ‘Elite’ Lawyer

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'Til billable hours requirements do we part.

Since getting engaged, I’ve been wondering whether we should even bother trying to get into the New York Times wedding section. I’m sure that almost every newly engaged couple has similar thoughts, especially the blushing bridezillas in training. After all, the NYT wedding section is the place to announce your upcoming nuptials. Being featured in those hallowed pages is viewed as the ultimate sign of marital prestige.

You literally cannot go wrong with a write-up in the NYT wedding section (unless, of course, you end up with a Sex and the City situation and it looks like you’re a woman with a Hitler-esque mustache). So is there an easy way to get into the esteemed wedding section?

As proven by our very own Legal Eagle Wedding Watch, lawyers seem to have been featured in abundance. But that’s just the first part of the equation, according to a new demographics study….

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Bonus Season Blues

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Perhaps you’ve already heard that Cravath announced its 2011 bonus scale on Monday (swiftly followed by Skadden and Milbank) and apparently it’s 2009 all over again. Around here, while Lat shrugged and Elie heaped scorn (“dick move”), the ATL commentariat … well, they were cut to the heart and gnashed their teeth (“ALLCAPS OUTRAGE MEME”).

We can’t help but wonder if this bonus season’s dyspepsia is typical of lawyers and law students generally. What with the growing ranks of JDs who are despairing of ever paying off their debt, shouldn’t there be some significant cohort thinking, “phew…not only do I have a job, but now my firm will be forced to match”?

Well it turns out that’s certainly not the case…

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Associate Bonus Watch: Milbank Matches — or Beats? — Cravath and Skadden

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Last night, Milbank Tweed matched the Cravath bonus scale for 2011. The news, first reported by Am Law Daily, came on the heels of yesterday’s Skadden match.

But wait — did Milbank perhaps beat the Cravath and Skadden bonus scales? Let’s look at the details of the Milbank bonus announcement….

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Breaking: Cravath Bonuses Are Out; Welcome to the 2011 Bonus Season!

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It took a little longer than most of you expected, but Cravath, Swaine & Moore just announced its 2011 associate bonuses (not long after announcing its new partners). Barring something very unforeseen, these bonuses are what many Biglaw firms, in New York and across the land, will pay out this year to their people. Historically Cravath has set the market with respect to year-end associate bonuses at major law firms.

The Cravath bonuses are what you might expect. They are in line with recent years, nothing crazy high or ridiculously low. Both Occupy Wall Street types and law firm associates can put away the pitchforks.

Let’s take a look at the official memorandum, and engage in some analysis….

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New Partner Watch: Cravath and Simpson

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New partners, jumping for joy.

Is making partner at a major law firm as desirable as it used to be? In an interesting article in the New York Times about the growing trend of lawyers leaving large firms to start their own boutiques, Margie Grossberg, a partner at the legal recruiting firm of Major, Lindsey & Africa, offered these observations: “In the past, associates found if they worked really hard and did the right things, they made partner. That’s not necessarily the case anymore. The odds are a lot slimmer, and it’s also not as coveted as it once was.”

These are all fair comments. Note also the number of partners who leave Biglaw behind for other opportunities, such as in-house posts, or government or judicial service.

At the same time, however, let’s face it: being a partner at a top law firm is still highly desirable. The pay, prestige, and perks are tremendous. In a recent survey of new partners by the American Lawyer, over 80 percent of respondents said their new jobs were either what they expected or better than they expected. As Aric Press of Am Law noted, “new partners are basking in the land of more: more money, more responsibility, and more information about their firms.”

This is especially true of partners at firms near the top of the Biglaw hierarchy — places like Cravath, Swaine & Moore and Simpson Thacher & Bartlett, with profits per partner in 2010 of $3.17 million and $2.64 million, respectively. They both announced new partnership classes this month.

Let’s learn about the new partners at CSM and STB. Maybe you know some of them — from college, or law school, or a case or matter you’ve worked on….

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Career Center Survey Results: Top Partners to Work For – New York (Part 3)

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Today we conclude our coverage of the top New York partners to work for, as selected by our readers (see earlier coverage here and here).

These seven partners are proof that you can be a good partner who is good to associates while working at premier Biglaw firms like Chadbourne & Parke, Cadwalader, White & Case, DLA Piper, Baker Hostetler, Weil Gotshal, and Cravath.

Let’s find out how they do it….

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Career Center Survey Results: Top Partners to Work For – New York (Part 2)

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Earlier this week, we introduced the first group of top New York partners whom our readers nominated as being great to work for. Today we present you with another eight partners from the Big Apple.

They hail from some of the heaviest hitters among Biglaw firms: Paul Weiss; Simpson Thacher; Kasowitz Benson; Cleary Gottlieb; Debevoise & Plimpton; Cravath; and Akin Gump.

Let’s learn who they are….

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Morning Docket: 10.13.11

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In need of legal representation.

* People seriously need to stop complaining about alternative careers for attorneys. Having a JD can lead to a fulfilling career outside of the law, assuming you can make partner at Cravath first. [DealBook / New York Times]

* Due to a decline in filing fees on the killing of the American dream, the Florida court system had to take out a $45.6M loan. It’s kind of like they have their own unpayable mortgage now. Gotta love karma. [Miami Herald]

* The ABA Journal really wants to know how hard it is for recent law school graduates to find a job. Maybe if we flood them with responses, the ABA will give a sh*t. Ugh, I’m way too optimistic. [ABA Journal]

* If you’re willing to move to Iowa, here’s a niche practice alert for you: stripper law. Who thought that you could find work in limiting boob exposure? And why would you want to? [Des Moines Register]

* We all know Michael Jackson was bad, but was he bad enough to drink his propofol straight up? Conrad Murray’s defense team may have changed its tune. [CNN]

* Did a judge seriously think he could arraign someone with close ties to the Wu? He’s lucky True Master didn’t let the killa bees out on his ass. [DNAinfo]

The Biggest Law Firms in the World: Meet the Global 100

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Say hello to the Global 100 for 2011. This is the American Lawyer’s list of the world’s 100 largest law firms, ranked by total revenue.

There’s a lot of economic anxiety these days, with fears of a double-dip recession running rampant. But looking back — the list is compiled based on 2010 revenue numbers — the legal business seems to be hanging in there. As noted by Am Law, total revenue for the Global 100 increased by 3 percent last year.

Lawyers are a competitive lot. So you’re probably less interested in the overall figures than in how different firms fared in the rankings….

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A Tale Of Two Law Students: One Summering At Cravath, The Other Still Searching For A Job

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Law school isn’t a bad choice or financially ruinous choice for everybody — just for many people.

Given the state of the legal economy, it sometimes feels like law schools are pumping out two classes of law students. The first blessed group of people can follow a “traditional” path to financial security: summer at a Biglaw firm, get an offer, work there for a few years while paying off debt, etc.

The other group consists of the law school have-nots. They didn’t get Biglaw summer associate offers because the supply of legal jobs has contracted while the number of available law students has increased. The “secondary” or “local” markets aren’t hiring either. Public interest work doesn’t quite pay the bills. Nobody is coming to interview them 3L year. They are members of the Lost Generation.

There are, of course, more law school have-nots than there are lucky ones. That’s just the way of things. But law schools tend to trumpet the few stories of success while ignoring the many stories of distress.

We’ve talked about all of this before, of course. But today we have an interesting opportunity to take a peek inside the head of a successful candidate — and see just how myopic his worldview is. And we can look at the thoughts of a have-not — and see just how bitter he’s become.

Below are two emails. One came from a summer associate at Cravath, raving about his wonderful, awesome world. The other is a response written by a rising 3L describing his no good, very bad employment prospects….

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Non-Sequiturs: 07.06.11

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I'm pretty sure this was the only child to die under suspicious circumstances in the past three years.

* Caylee’s Law would make it a felony for anybody to grieve for their child in any way that doesn’t involve law enforcement within the hour. I trust the libertarian crowd is going to help me point out how this is dumb. [WSJ Law Blog]

* Big time antitrust lawyer Christine A. Varney is leaving the Justice Department and heading to Cravath (perhaps as a replacement of sorts for Katherine Forrest). So it looks like there was some money left over after spring bonuses for Cravath to make a new hire. Phew. [Dealbook]

* Eliot Spitzer (f.k.a. the steamroller) just got flattened by Erin Burnett. [Dealbreaker]

* Even judges in Flori-duh are allegedly bats**t crazy. [Obscure Store]

* In more reasonable news coming out of Florida, this reminds me of the “mock trial” club in high school. [Miami New Times]

* Courtesy of NALP, here’s more evidence that the class of 2010 is totally screwed. You know, I wish I could have the entire class over to my house for a big pity party. We could all hang out and play Rock Band, and at the end everybody could have a cup of my delicious homemade Kool-Aid. [NALP]

* Chicago law firm merger mania? I just hope nothing messes with the name “Wildman Harrold.” [ABA Journal]

The 2012 Vault Rankings: Proof Of Short Memories

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On February 27, 2009, Latham & Watkins laid off 440 associates and staff. These official layoffs came after months of quietly and stealthily laying off employees.

That year, Latham fell from #7 to #17 on the Vault 100 list of the most prestigious law firms. It was one of the biggest single year drops ever on the Vault list. At the time, I asked: “Is this as far as [Latham] will fall?”

Two years removed from that question, I’m staring at the brand-new Vault 100 rankings. Latham & Watkins is ranked #11.

Memory, my friends, is not something they screen for on the LSAT…

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