If you had a choice between Jones Day and Schulte, which would/should you choose and why? It’s hard to look pass the ranking/prestige of Jones Day but they are black box whereas Schulte is lockstep and a funds specialist firm which could lead to GC roles at a fund quite easily in the long term. That’s not the long term play here, but just stating a fact to consider. Also keep in mind I would be lateraling in from out of state.
Anything is better than Jones Day.
I would definitely pass on JD. Comp is a complete black box and they will totally bait and switch you to get you in the door. By the second or third “envelope day” - the day when you are literally handed an envelope with your comp number - you will be below market all in. They also adjust comp off market so for six months of the year your will be at the unadjusted comp level when everyone else in the market has adjusted.
The firm is led by one guy that sets everyone’s comp. He is refusing to retire and keeps extending his own retirement date. People refer to him by title….as in “The Managing Partner” says blah blah blah. It’s very creepy. His replacement might finally fix the comp situation, but who knows when they will come into power. He also picks his successor with no input from the partners.
Can confirm much of this. Interesting to hear the latest. I lateraled away from JD about 5 years ago.
Schulte. I’m not taking less than market comp for market hours
I have friends there. It doesn’t even out. If they paid most people at or above market it wouldn’t be a secret what they pay them
It’s not called Jones Days Nights and Weekends for no reason. Wouldn’t go there for below market pay once you factor in the bonuses q
The bonuses q?
If you are interested in doing funds, Schulte has a much stronger industry presence and will open doors for better exit options. Many funds associates at Schulte also lateral to other top firms for funds practice nationally. I used to work there and happy to share more thoughts via dm.
If you’re doing funds in New York I think SRZ, Sidley, Seward, STB, and Ropes are all going to be much stronger groups than at Jones Day with better exit ops. SRZ would be my choice.
Practice group? Anything to do with funds, SRZ. Bankruptcy? SRZ. Are you a New Yorker? SRZ. Hope you’re not a woman because in that case neither ideal.
Ah okay good to know. I turned down a position in the Business dev department.
I’ve been an M&A associate for 6 years and I’ve never worked on a deal across from JD nor met anyone who works there. Seems sus.
You didn’t hear it from me.
I’m a recruiter that does a ton of work for Schulte. Biased, yes - but for good reason - I’m a big believer in the firm. And quite literally can’t think of a single redeeming quality for Jones Day. Shoot me a DM - more than happy to share my 2 cents in more detail.
Litigation or corporate?
Rising Star
I suspect that culture is fairly different between the two.
JD. You can almost always go from JD to Schulte if you don't like it
Why JD though? Just trying to weigh pros/cons.
Definitely Cravath
?? Send offer right now
SRZ has a great funds group and as a firm is underrated in general imo. Seems like they also have a much better culture than perceived as well. Most that I’ve come across enjoy working there.