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Hello All, I have one question. I was a fresher and joined one organization as external employee with third party payroll. I worked as external payroll for 1 year then I became permanent employee of organization was working. When i was a fresher my salary was below tax slab so my external exployer did not generate any form 16 for me. When tried to switch my new organization wants me to submit form 16 as BGC process. Will my offer get reverted?Cognizant Tata Consultancy HCL Technologies Accenture
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2nd year. What’s the typical bonus schedule?
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Coach
Plenty have gone to Goodwin. Goodwin and Cooley seem to have expanded the most in the past few years and also probably have the most similar work to many of the v10s e.g., Cooley's capm practice and Goodwins PE m$a. Also, I think alot of people seem to buy the marketing for culture from those three firms.
Subject Expert
I haven’t seen as many go to Goodwin from my network. I’ve seen more people “trade up” to Goodwin.
I think the answer is really simple. People really want to work in/around tech and in EC/VC (hip relatable clients, interesting work, great exit opps, relatively better work life balance) And in NY, the three firms you name have a much larger presence than either WSGR or Goodwin.
Subject Expert
They got pushed out of the V10.
I lateraled to Fenwick last year. I don’t see why the average law student/junior interested in corporate would rather work at Cravath/DPW/Kirkland/Milbank et al instead of Cooley/Fenwick/Gunderson.
Most of us don’t have a clear passion for one practice group. Startup work is much more interesting than M&A as a junior the clients are cooler. The pay is the same, the hours are better, the culture is more chill. As far as exit options, I would much much much much rather exit to FAANG or a cool startup client than be corp counsel at some big bank in New York especially when FAANG and some larger tech companies will match the banks and pe firms on comp.
The big nyc firms grip on talent was always based on the perceived exit options, that’s why people were willing to put in the hours and sacrifice qol. I still can’t think of a reason to work at Cravath over Cooley in 2022. Wachtell is different bc of the $$$$$.
Coach
At least in my group, we haven’t had great experiences with our laterals from v10, so we tend to shy away from those candidates.
A6 At least from my experience, they were used to being a cog in the wheel. They quickly learned and adapted though.
Enthusiast
Yep, very common. People get sick of working with bankers 24/7 and many want to go in house down the road
Fenwick/Cooley/Gunderson have better WLB reputation in my experience, if you're trying to trade your V10 prestige for a personal life and market salary these three are the best bet (+maybe Orrick).
@WSGR with experience and friends at peer firms and would say WLB is much better here. Example: we got 40 hours of billable vacation time during Covid so actually took time off - not sure how many other ECVC firms could say the same.
Coach
You east coast based? I don't think wsgr has as big of office as Cooley or Gunderson in ny and wonder about Goodwin.
Enthusiast
I’m one of these laterals. Way better WLB/culture, way better clients, same pay, cooler exits. Most of my colleagues left for the same reasons so the culture self perpetuates as well cause it attracts smart but relatively chill folks.
I was an early 2022 lateral from a v15 and some of those firms were on my list. I didn’t end up at one, but I did notice that many had what seemed like better overall benefits packages as a theme. Specifically, I noticed stronger parental leave policies, fertility benefits and extras like vacation credit/similar. On the flip side, I think most of that bucket of firms have an hours requirement.
Yeah, the benefits are the real appeal of these firms to me
IMO, I think it’s easier to make partner at those firms than v10?
It isn't really. At one of them any many people take 12+ years ao probably pretty similar tbh
Mentor
WSGR and Gunderson are known to be rougher to associates than GD or Cooley.
It's nice to work somewhere that has a nice firm culture.
Enthusiast
Wait so Gunderson is known to be rougher to associates than... Gunderson?