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Hi Fishes,
I Will be Joining PWC AC B as SA2 on Sept 2,2022. Just want to know about Appraisal cycle. Is it Mid Year or Annual appraisal process. Also, will I be eligible for next appraisal cycle ? Tried asking the same Question to HR, but didn't get a proper response. She just mentioned as per company policy.
Pwc AC Deloitte USI EY PwC
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The road to equity at Latham is a long one. Depending on your group, you’ll probably have a decent roster of associates and high caliber work, but it’s notoriously known for a long equity track record
Honestly though, isn’t that most v20 shops?
Mentor
It’s almost impossible for a lateral to make partner at Latham.
Equity depends almost entirely on your ability to originate work or proliferate it as Latham calls it (the latter is basically the originating partner giving you credit for servicing a particular matter as it’s credited 1 for 1 as origination). To make equity, based on current equity value, you need to be able to originate/proliferate at least ~$22m in revenue per year (note that this increases by year as equity value increases). This is nearly impossible if you’re a specialist as M&A or other deal team partners will receive the proliferation generally.
The fastest I’ve seen a NEP make equity here is 4 years but these are not publicly announced so it’s just word of mouth. In fact, associates don’t know whether a partner is equity or not here unless a partner tells them.
A5, how big of a book do you think it would take to lateral to Latham as a NEP partner and not be canned within a few years?
So do most partners there just get stuck in the NEP until they get an equity partner to share a piece of the pie?
Mentor
It’s not easy to get new clients at a place like Latham, at least in transactional. The surest way to make equity is to attach to a rainmaker and basically never say no to servicing that book.
In ECVC, sometimes your small company clients get big. Different game for different practices.