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LW: B-
Milbank: C
Background: Worked for LW PF in NYC on and off for 18 months when I first started about 3 years ago (I was in their unassigned program) and still at LW (with a diff practice group) because PF was a way to get hours / never my long term plan. My good friend from law school is in PF at Milbank, rising 4th year.
PF folks at Latham are a mixed bunch. I had some EXCELLENT experiences with mid levels and junior partners who were very good teachers and kind humans (which matters when you’re up late working on some big deal round the clock). These were wonderful kind mentors. On the other hand, later on I had a few experiences with a couple supervisors who were unresponsive/unavailable/outright rude and where I felt like a cog in a machine. Rough. (Though I think that’s true with some supervisors/a real possibility in every transactional practice). In general though, I’ve found that Latham-raised lawyers have the same culture around time: push hard during the week, lots of communication, set expectations early if there is expected weekend work (differs/beware with laterals). LW lawyers broadly discuss protecting time where you’re away from the computer and teams coordinate so that each can do life, whether attending a wedding or dinner with friends or whatever. It’s a behavior that I mimic now that I’m beginning to supervise my own juniors.
My friend at Milbank really likes a lot of the partners, but the culture lives up to the idea that you’re expected to always be at your computer and never have a life. She got to take ownership of matters a bit earlier since Milbank PF deals seem to be a little more leanly staffed, but I’ve regularly heard laterals from Milbank (and K&E) refer to the firm as a sweat shop. She often has to cancel plans during the week because of last minute demands and is learning to balance when she sticks around to do assignment and when she sticks with a previously drawn boundary (“thanks, as I mentioned I’m out of pocket tonight so will tackle first thing tomorrow”).
Both firms do powerhouse deals and will get you incredible experience. Milbank might give you a bit of an edge since this is their bread and butter, teams are leanly staffed, and seems like the people are really good. But you will have to claw for every ounce of your personal time. LW seems like there’s a bit more hierarchy and more of a mixed bag on people, but it’s more of a norm to want work-life balance (to the extent that exists in big law). I prioritize the latter hence the grades above, but I’m biased/already at LW.
Also, FWIW LW’s hours are 1950/year and its 4-day RTO is only loosely enforced (it just affects whether you have a permanent desk or hotel) and varies greatly by practice group.
Good luck!
I interviewed with milbank LA and the hours sounded just dreadful. Apparently NY is a bit better. They are very much an in office firm so be prepared to go in 4x a week.
Can’t speak to LW project finance. But overall good firm to work for.
Milbank NY is 3x a week in office but enforced but you can also choose your days. Hours are typical to any other firm, 2100 considered 100% utilized.
LW Is 1900