For those with IB experience - what would a V5 firm be worth? Keen to hear your thoughts on what a firm like Latham / Kirkland would be worth if all partners sold out / what its market cap would be if it IPO’d (like Goldman Sachs when it went public as a partnership) - mostly just for interest’s sake, as I know historically public law firms haven’t done well due to different incentive structures when profits are directed towards shareholders.

like
Posting as :
works at
You are currently posting as works at

Latham wouldn’t be worth more than like $10 based on how people talk about it online 😂

likefunny

Thanks for missing the sarcasm

like

Depends what type of multiple you applied to the profits firms earn or what type of discount you applied going forward. But if I was looking at this from the outside I’d care far more about how much profits they actually make than the PEP reported by the firms.

like

What I think C1 is saying is that when valuing a law firm we should look at total profit rather than profit / equity partner.

This is a fairly obvious point - Microsoft is obviously valued on the basis of total profit rather than profit / shareholder, and so we should value law firms in the same way.

As an example, Latham would be worth more than a firm like Wachtell despite Wachtell having a much higher PEP because Latham’s total profit is higher as a result of Latham having a higher number of equity partners.

C1 - I’m not sure that I understand what you mean by “gaming” this number. Do you mean restricting the number of equity partners so that total profits are divided by fewer partners? In my mind, that’s not “gaming” anything, that’s just smart business by the equity partner squad (i.e. the equivalent of a closely held company not issuing any new shares so not needing to split profits with any other shareholders). Or do you mean creative accounting where they’re booking time billed rather than cash actually in the door? In which case, you should speak to IFRS and ask them to update their accounting standards.

*Laughs in 5.4

Related Posts

Hello! Looking for some guidance. I will soon be leaving Verizon after 15 years with them (6 years HR experience, 3 years Operations, 6 years leadership). The last HR position I held will be eliminated and I was offered a severance. I am now in the market for a new place of employment I can call home. I was thinking of trying for a start up. But the likes of Google, Adobe, etc. also seem appealing. Would you recommend a start up as my next endeavor? I enjoy helping build processes and policies.

like

How much Target can offer for 4 years of exp?
L4 level engineer.

For fixed they are not negotiable. Any idea?

I joined Capgemini on 15 th September. But didn't receive salary. Can someone please help on this. When can I expect that.

like

I will be joining EY in mid of Aug, will I be eligible for bonus?

like

Anyone know what the comp looks like for corp strat associates? M’s? Directors?

like

Hai sharks
I got multiple offers in hand . Can anyone help me to choose the best one
HCL - 19 FIXED , 21 CTC
LTI - 19.5 FIXED , 21 CTC , JB - 75000
CATERPILLAR - 20 FIXED , 21CTC

Skill set - Java spring boot microservices AWS
YOE - 4.9 years

likesmart

Hi everyone,

I wanted to leverage the hive mind in finding out how best to negotiate a verbal offer for a 100%-remote Product Manager role in NYC, with a IT infrastructure/digital services firm (MNC but non-American):

Base salary: 120k

Sign-on bonus:10k

Bonus: 15%

No stock options

How competitive is this, and what should I negotiate for please? The written offer comes after verbal agreement.

I've 10 YOE in tech project management; 7 in product management.

like

Working in IT now for the past 10 years as an office systems Admin on €42k. Is this the going rate for IT Systems Admin, essentially all IT functions.

like

Hi all. I’m finishing up school and looking to start applying for jobs in tech, I’m going for computer science, what range of salary should I expect going into this field?

like

Thoughts on joining EY Advisory PI or Guidehouse as a manager 2. Salary and sign on are exact same.

like

Hello, salary of 4 years xp for a business a analyst support in paris please

Any UK fish that took or was made redundant receive a bonus. If so please share details.

like
like

Have you ever applied to a lower level position and convinced them to just give you the title you already have? Is it just a matter of salary and if they can afford you/your title?

Current CTC - 6L. Accenture has offered 10.4 with 60k joining bonus. Designation - Sr Analyst. Is this too low? I have 4 yoe

like

How much can I ask for with 4+ years experience at strong nyc agencies?

Switching from commission to salary!

I’m considering a less sales-oriented role that doesn’t pay commission. The new role will have a higher base but lower overall earning potential.

What % haircut should be expected? As an example, if I make 100k (base + commission) today, would it be realistic to ask for 90k (10% cut) + equity to make up the difference?

like

I have 6.8 YOE in compliance as financial analyst. how much CTC can I expect in UBS If applying for AO level.

More Posts

Hi Fishes

I need reference for a job post in Dell. Can any one help me on this

like

Scheduled to retake AUD in 4 weeks and take REG 4 weeks after. Ready to finish this beast!

likeuplifting

Pwc ke fyde in this comment thread!!

likeuplifting

Anyone know the salary range for associate level positions including senior associate level.

I’ve been reading a lot of FIRE books lately and want somewhere to discuss. What are the biggest takeaways from your FIRE journey/ research?

like

Does anyone knows how to contact Footprint Coalition found.??? I am interested in work with them, but there is only a contact by mail if You want to make an economic collaboration... Please, anyone?? Also, I am available for work in LA or remotely...

like

How long Schneider Electric takes to release offer letter???

ZS 🐠 - can you receive sponsorship for MBA prior to having tenure of 3 years? If not, what is the downside of applying after 1 or 2 years? I am coming in with 3+ YOE in consulting, so my application would be competitive for next fall (or ‘23)

like

Hi Sharks,

I am looking forward for freelancing based technology work in the area of python development [api, custom scripts , etl , neo4j ,mongodb etc ]

Can you please help with some references you know or any legit platforms , one of the platform i know is turing , if you have more inputs that would be helpful

likehelpful

I don’t actually work for the IRS...but ok.

Post Photo
likefunny

Looking for regulatory and statistical reporting roles within Pune.

Got interview call letter from techmatrix and client is Maybank and this opportunity is for Malaysia. But little bit doubt on whether it is real company or any fraudulent involved
Any one came across that or how can we verify this

Please help on this

Post Photo

How will the work be in L&T Technology services?

like

Lnt is in jaipur location

In automotive domain which one should I prefer as per trending technology and future scope:
1. Autosar
2.Module based design ( MBD)

After submitting document how much time.it takes to release offer letter.

like

Hi Guys,

I have an OL from LTI with a CTC-20 Lpa..As my mother had brain surgery, i need to be with her. i have asked HR to provide WFH. Does LTI support in these kinds of cases?? I have also asked HR to set up a call with the Project Manager.

Comments pls ..

like
like

I'm searching for job opportunities in Canada anywhere in pharmaceutical or biotechnology company from last 4 months but did not hear back much. I have used linked in, indeed and tried to find my connections as well.

I have 10 years of experience in Serum institute of India ltd in quality control department. I have studied Master's in pharmacy.

What should I do please suggest.
I have applied for so many jobs with new resume everytime as trained by employment agency. most of company required

Data dog associate salary + bonus/equity? Nyc based

like

Additional Posts in Big Law

It's super frustrating to be "time poor".

That's seemingly just the nature of working in Biglaw.

But every day you have the option to buy back your time.

How do you buy back time?

It's simple—by saving and investing.

And you don't need to be uber wealthy to regain control of your time.

Consider this…

likesmart

Working on some law firm applications tonight and it sucks that I know that I am so capable and have a strong work ethic but firms can’t see beyond grades or the fact that I didn’t go to a t14 law school or prestigious undergrad. I’ve worked twice as hard and feel like I’ve barely even gotten half as much. It’s discouraging sometimes especially because I worked so hard with pretty much no guidance (first gen, poc, low-income) to get into college and do well and then get into a t30 law school

like

On the transactional side of things, what is the expectation of Associates to start bringing in their own work, or start developing their own book of clients?
When they are mid or senior level?

like

I’d rather quit than revise this agreement.

likefunnyuplifting

First year here. Do associates get fired for not meeting the billable requirements?

like

Are any bankruptcy lawyers having to do work outside their practice area during these times? I have zero partner supervision and don’t know how to do like diligence for finance deals..

like

Best fall vacation destinations on a biglaw budget?

like

What sort of work is considered corporate finance? This was referenced in a energy practice related interview and am not sure what sort of work that would entail.

like

I don’t drink any alcohol. How does this impact camaraderie within the firm and ultimately with clients?

like

Mid 2020, I turned down an opportunity to jump ship from my small law firm to a big law firm. At the time I had 4 years of practice under my belt with managerial experience. I thought the offer was reasonable, come in at a 2nd year level, but with the uncertainty of the times I played it safe. Now I regret it. What avenues do I have, if any, to jump into big law from a small firm?

like

Thoughts on Steptoe & Johnson? Particularly DC office. Considering applying. Thanks!

like

People who don’t submit their time daily, how do you remember what you did and for how long? I’ve always just submitted each timer as soon as I finish a task—“call with x re y” really doesn’t take that long even if I’m busy, and if I don’t do it immediately I’ll forget all those little I did in the morning by the time I go to bed. No shade at all to those with different systems, just genuinely curious because I see a lot about catching up at month end on here and I have no idea how that works??

like

Any fellow Georgetown Hoyas alumni wanting to go to John Carroll weekend in Nashville!?

like

Anyone apply to clerkships after working at your firm for a while? Any advice? Currently a second year putting out applications

like

Saw an article about the chilling effect that the Big Law salary raises are having on in house hiring since associates cannot bear to take the pay cut. Do we believe this? Of course if an in house role offers less than a first year salary it’s a tough pill to swallow, but what if the role offers in the mid-200s for a substantially better WLB? Thoughts??

like

I lateraled from a small firm to regional big law last year. I was told that my offer was commensurate with class year (5th year). The firm recently increased first year salary, with a 5% increase for all other attorneys. My original salary was equal to the new first year salary. The difference between my new salary and a first year is now $10k. I think it is fairly obvious that the hiring partner was not truthful with me. How would you address this? Is another lateral move my only option?

like

Is it possible to transition from antitrust litigation to general litigation?

like
like

What’s your firm’s billable hours requirement? Name + whether pro bono (or anything else) counts please

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal