Davis Polk

Amal Alamuddin Clooney

* The Fifth Circuit is allowing the Texas voter ID law to be enforced during the upcoming election, even though it was recently struck down by a federal judge. After all, “preserving the status quo” is very important down south. [Bloomberg]

* We suppose that’s why the Supreme Court stepped in to make sure that abortion clinics in Texas were allowed to reopen following their shut down. Take that, Fifth Circuit. [New York Times]

* AG Eric Holder is showing off some fancy legal footwork before he walks out the door. Federal prosecutors can no longer ask defendants to waive their IAC claims when pleading guilty. [WSJ Law Blog]

* Davis Polk & Wardwell is a Biglaw firm where hotties roam, and it looks like this top Justice Department prosecutor who started his career there is returning home there to roost. [DealBook / New York Times]

* It’s the debt: With headlines like “Law school applications plummet – at U of L too,” the University of Louisville School of Law can’t even convince alums from its undergrad school to attend. [Courier-Journal]

* Amal Alamuddin changed her name to Amal Clooney on her firm’s website. It’s as if she wants to rub the fact that she’s a human rights lawyer who just got married in everyone’s face. [New York Daily News]

There’s no Biglaw intercity rivalry that can match the one between London’s venerable Magic Circle and New York’s elite white-shoe firms. Both groups of firms are the clear alpha dogs in their markets, attracting the top talent and most lucrative clients.

There are, however, some significant differences between the two groups in how they operate. For example, U.K. firms tend to follow a lockstep (rather than “eat what you kill”) compensation model. Last month, friend of ATL Bruce MacEwen took a deep dive into the relative performance over the last several years of the Magic Circle firms versus their New York cousins. The piece is highly recommended: it’s chock-full of data, and its findings suggest the groups are moving in different directions….

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I want business that gives me a splitting headache to do, because I know that work is not going to be commoditized.

George Bason Jr., global co-head of Davis Polk’s mergers and acquisitions practice, commenting on the complicated transactions he prefers to work on. Bason’s attractive firm recently tied for fourth place with Cleary Gottlieb in Dealogic’s ranking of deals by dollar values in the first half of 2014.


I was in it to kill it. I want to replace lawyers with code.

Tim Hwang, quoted in Kashmir Hill’s piece in the June 16th issue of Forbes, discussing his stint at Davis Polk.

Tech guru Hwang secretly attended law school at Boalt Hall just to score his seven-month gig at Davis Polk, which he spent planning a computer program to replace first-year attorneys by automating tasks like document review (shhhh — don’t tell him about predictive coding or anything like that). Hwang plans to release the program to firms FOR FREE this summer. Look out Biglaw, you’re being forced down the same road Sterling Cooper did with its fancy IBM 360. Watch out for severed nipples!

This Lawyerly Lair is on a pleasant, tree-lined block in Chelsea (click to enlarge).

No, we’re not talking about “law clerk” as in judge’s aide. It’s hard to afford a seven-figure home on a public servant’s salary. We’re talking about “law clerk” as in someone who’s working at a law firm, essentially as an associate, but is not yet an admitted attorney in the jurisdiction.

This “law clerk” and his partner, also a law school graduate, just picked up a spacious Manhattan co-op for a little under $1.7 million. Their housing hunt was chronicled in the pages of the New York Times. Let’s read more about them, and check out the place they finally chose….

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Partnership: Biglaw’s ultimate brass ring.

Becoming a Biglaw partner does not necessarily mean you’ll live happily ever after. It doesn’t even guarantee financial security. Indeed, some partners end up filing for personal bankruptcy.

But that’s an anomalous case. Partnership at a major law firm might not guarantee you happiness — sometimes you have to leave the partnership to follow your bliss — but it generally brings with it tremendous pay and prestige.

That’s especially true of partnership at the nation’s 10 most prestigious large law firms. Most of them have only a single partnership tier — equity or bust, baby — and sky-high profits.

Who are the new partners at these 10 firms, and what do their selections reveal about Biglaw today?

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This is the latest in a new series of ATL infographics — visual representations of our own proprietary data, relevant third-party data, “anecdata,” or just plain jokes. This infographic is brought to you by our friends at Prestige Legal Search. Earn another $5,000 to $50,000 with their Rewards Program.

For the most part, Biglaw associate bonuses remain stuck at last year’s levels, reflecting expectations that firm profits will be flat at best. This might seem fair, with everyone feeling the pinch of the “New Normal” and so on. But when we take a small step back and see how these bonus numbers compare as a percentage of partner profits to the bonuses of just a few years ago, these bonuses are arguably pretty measly.

The current $10,000 “market” (i.e., Cravath-following) rate for first-years is just 0.29% of Cravath’s profits per partner (according to the American Lawyer). Back in 2007, first-year bonuses equaled 1.36% of PPP. In other words, the Cravath partnership was nearly five times more generous to its associates back then.

Obviously, Cravath is among the most profitable firms in the world. What are the implications of matching Cravath’s bonus scale for those firms with much lower profit margins? Today’s infographic takes a look at how big a hit to PPP partners willingly take in order to Keep Up With The Cravathians….

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In the two years that we’ve been conducting our ATL Insider Survey, we’ve amassed in excess of 15,500 responses from practicing lawyers and law students. These results have provided us with unique insights into what people really think about their employers and schools. We believe our survey information furnishes our readers with a deep resource for comparing and evaluating these organizations, whether in the form of our Law Firm and Law School Directories, or in posts that take a deeper look at such factors as practice area, compensation, or geographic location. Many thanks to those thousands of readers who have shared their experiences.

Obviously, one subject that the ATL readership is passionate about is the world of Biglaw. Whether it’s to assess a potential employer, or to simply see how one’s firm compares to its peers, apparently there’s no end to the appetite for insider information. So as this year winds down, we’ll end on a happy note and have a look at which Biglaw firms are rated most highly by their own employees…

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The white-shoe firm of Davis Polk might have been displaced by Paul Weiss as home of the hottest attorneys, but there’s still much to recommend DPW. As you can see from its ATL Career Center profile, it gets high grades both from the lawyers who work there and in terms of industry reputation.

You know what would make Davis Polk an even more appealing workplace? Above-market bonuses….

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Last week, we asked readers to submit possible captions for this picture (click to enlarge):

On Monday, you voted on the finalists, and now it’s time to announce the winner of our contest…

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