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Stealth layoffs at CWT confirmed.
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Subject Expert
I mean, Cravath for example still carries a bit of old timey prestige over and above most other elite peer firms but the practical difference among them for most people will not be material, especially the longer you’re in practice and establish a name for yourself somewhat independent of your firm.
Mentor
Starting at Skadden ameliorated many other variables and opened many doors.
Tbh it reads like you learned it this morning & been waiting to use it all day. But just a bit of friendly ribbing OC1 don’t take it to heart
Mentor
I was actually at both Willkie and a V10. There is a difference in quality of work and volume
Can you say more on both the quality of work piece and volume piece?
Coach
It definitely matters. But I would say the specific clients you were exposed to and how it fits with the firm you are trying to get into probably matter the most. That said, top credentials have a way of getting firms to look the other way with other stuff
Without a doubt, you will generally be on bigger deals and have more lateral options and in house options. Either way, when you do want to make a move, fitting a need and having a clear story as to why you want to make a move will be important.
Depends on what you mean by matters? Does it matter if you want to lateral, yes. Work for a bank, yes. Work for a startup, probs no. General in-house work, maybe gets you a screener (if the person recruiting cares about BL or was at the the firm —> but honestly when I’m interviewing I’ll look at Cravath and Latham the same), otherwise no.
When I was in law school I thought it mattered a lot. Ended up at a V20 for 5 years and then went in house via a connection. All that mattered in the end for me was the connection…
Mentor
It 100% matters for lateraling to other firms, especially because a lot of the larger national firms almost rely on these places to train people that they lateral in. For in house, other than maybe banks/a few funds, not at all, and LW, KE etc all do really well if not better in a lot of tech or pe in house placement
Mentor
So going to Willkie over DPW is a mistake?
Am at Willkie. It’s great and nice, good culture, super busy and top clients. But I wish I could have worked at DPW. Willkie is a NY elite for sure, but never the same tiers. DPW is another level
Yea that would be a mistake unless you have other specific reasons in mind.
Yes, especially if you are interviewing to move from NY, working at those firms will be helpful in getting interviews.
Coach
If you think Cravath and Cleary are top NY corporate shops, you are very behind the times
Your conclusions don’t reflect reality, though. Let’s take M&A for example.
DPW ranked 17th in total deal value for FY2025 (Bloomberg). STB was 8th in total deal value, Cravath was 9th, and Cleary was 10th.
Looking at Avg Deal Size for FY2025 (arguably a better data point as it reflects sophistication of deal), Cravath’s Avg deal was $5.2B, Cleary’s $3.2B, STB’s $1.8B and DPW’s $1.8B.
Using either data point, I don’t see how you could argue DPW or STB are top shops while Cravath and Cleary aren’t.